Perm oil refinery
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Russia's oil and gas tax revenues drop 17% in nine months despite higher prices
Russia's oil and gas tax revenues fell 17% in the first nine months of 2026, reaching 5,47 trillion rubles ($64.43 billion) compared to 6,61 trillion rubles a year earlier. The decline came even as Urals crude prices more than doubled from pre-war levels, driven by falling production, export constraints and Ukrainian drone strikes on refineries.
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Ukraine's General Staff says two major Russian oil refineries halted after Ukrainian strikes
Ukraine's General Staff confirmed on 4 September that two large Russian oil refining enterprises — LUKOIL-Nizhegorodnefteorgsintez in Kstovo and the NOVATEK-Ust-Luga complex in Leningrad Oblast — have stopped operating after being hit on 26 August and 1 September respectively. The General Staff said both facilities supply the needs of the Russian armed forces.