Russia loses billions of USD to crude oil sabotage

[Vishnu.Reang]

https://www.bloomberg.com/news/articles/2019-05-01/the-logistical-nightmare-of-cleaning-up-russia-s-tainted-oil

One of the threads of the Russian oil pipeline to the EU has been shut down, after organic chlorides were found in the supplies. More than 30 million barrels of crude was contaminated (worth around $2.2 billion) and by the time the issue was noticed sections of pipeline and refinery equipment underwent significant damage. In legal terms, Russia needs to bear the bill for crude replacement and equipment repair.

It is still not clear who was behind this sabotage, but the authorities are claiming that the incident occurred at the Samara Transneft Terminal, where several smaller companies inject their crude to the pipeline system. The investigation still has no idea which one of these producers injected the contaminated crude.

Initial estimate for the loss to the Russian exchequer is anywhere from $6 billion to $15 billion.

[Beerwizzard]

It seems like some kind of mistake rather than a planned sabotage. There is absolutely no reason for russians to sabotage the economy of other countries simply because natural resourses and they have absolutely no reasons to lose their money and markets. I suggest they would have to pay some extra compensations for that spoiled oil. Such things may easily happen in any other country. We see that scandal in the news mostly just because it is such a bad Russia.

[KingScorpio]

It seems like some kind of mistake rather than a planned sabotage. There is absolutely no reason for russians to sabotage the economy of other countries simply because natural resourses and they have absolutely no reasons to lose their money and markets. I suggest they would have to pay some extra compensations for that spoiled oil. Such things may easily happen in any other country. We see that scandal in the news mostly just because it is such a bad Russia.

well there are groups that could have an interest to sabotage the income of millions of russians, just so they can sell more themselves to the EU or china.

the world is full of evil people just out of desperation in those billionaire clubs. they might indeed form networks and sabotage the economic supply of the european population just in order to earn money

they all want these successful communal fiats like euro or the usdollar (which is hoewer highly indepted) but they dont want to earn crypto, so they try criminal activites to protect their equity income sources to earn more and sabotage russian industry. crypto could fix here a problem since it would end the violence agains the infrastructure between oligarchs and billionaires

economic sabotage by western billionaires in russia in order to earn more money in the european market could end their rule similar like russian affairs ended the rule of napoleon or hitler.

the european population isnt happy with market manipulation in its economic supply.

if it gets exposed that american billionaires where behind this and proven they are finished.

if this crap continues all economic networks will get a very nasty and dirty image.

[Vishnu.Reang]

It looks like the Russian crude production will remain affected for the next 2-3 months. The latest data indicates that the production has declined by more than 1 million barrels per day, which represents a revenue loss of $2 billion per month. Meanwhile, the lower range for the volume of contaminated crude that needs to be replaced was given at 37 million barrels.

[KingScorpio]

It looks like the Russian crude production will remain affected for the next 2-3 months. The latest data indicates that the production has declined by more than 1 million barrels per day, which represents a revenue loss of $2 billion per month. Meanwhile, the lower range for the volume of contaminated crude that needs to be replaced was given at 37 million barrels.

are you excited about that?

[omonuyak]

It looks like the Russian crude production will remain affected for the next 2-3 months. The latest data indicates that the production has declined by more than 1 million barrels per day, which represents a revenue loss of $2 billion per month. Meanwhile, the lower range for the volume of contaminated crude that needs to be replaced was given at 37 million barrels.

This is a serious situation because losing $2billion worth of crude oil per month is not a small thing and Russia governments need to do something fast so that this should not affect the economy negatively.

[Mux@]

This situation has nothing to do with the reduction of oil production in Russia. And it happened not because of an error and not from negligence of employees of the enterprise. This happened because there was a group of people who stole oil. They pumped production waste into oil tanks to hide their theft. Four suspects have already been taken into custody. Two are wanted.

[Vishnu.Reang]

It looks like the Russian crude production will remain affected for the next 2-3 months. The latest data indicates that the production has declined by more than 1 million barrels per day, which represents a revenue loss of $2 billion per month. Meanwhile, the lower range for the volume of contaminated crude that needs to be replaced was given at 37 million barrels.

are you excited about that?

Why should I get excited about it?

Being an Indian national, I am worried a lot. India imports more than 80% of its crude from abroad and any disruption in the production means that the prices will rise sharply. This can burn a big hole in the national exchequer and the inflation may rise.

Also, I am worried about the environmental impact. Treating the contaminated crude is very expensive, and they may just decide to discard it. Now how you are going to discard hundreds of millions of barrels of crude oil?

[KingScorpio]

It looks like the Russian crude production will remain affected for the next 2-3 months. The latest data indicates that the production has declined by more than 1 million barrels per day, which represents a revenue loss of $2 billion per month. Meanwhile, the lower range for the volume of contaminated crude that needs to be replaced was given at 37 million barrels.

are you excited about that?

Why should I get excited about it?

Being an Indian national, I am worried a lot. India imports more than 80% of its crude from abroad and any disruption in the production means that the prices will rise sharply. This can burn a big hole in the national exchequer and the inflation may rise.

Also, I am worried about the environmental impact. Treating the contaminated crude is very expensive, and they may just decide to discard it. Now how you are going to discard hundreds of millions of barrels of crude oil?

ah an indian, just thought,

you see the mad picture, there is a trust crisis globally, usa and europe are in a conflict about who is allowed how much to sell to the other nation/society, while in other places people starve

[Vishnu.Reang]

Meduza investigated the scandal in great detail, and they came up with some interesting findings:

https://meduza.io/en/feature/2019/05/08/who-contaminated-the-petroleum-supply-in-the-druzhba-pipeline-and-caused-russian-oil-exports-to-be-unusable-for-weeks-meduza-investigates

Those who got arrested seems to be scapegoats, much lower down the order. The real culprits may never be punished.

By now, it is confirmed that the sabotage has occurred at the Samara-Unecha Node, which is surprisingly operated by private companies to pump crude oil in to the main stream of Transneft.

[Lizzylove1]

I doubt this was a mistake, it could have been a angry business who did this, am ruling out a possible external collusion. Anyway, the Russian government ought to have a back-up fund to cover for the losses. I hope this won't affected their economic and currency. 

[KingScorpio]

I doubt this was a mistake, it could have been a angry business who did this, am ruling out a possible external collusion. Anyway, the Russian government ought to have a back-up fund to cover for the losses. I hope this won't affected their economic and currency. 

of course, euro is still a trusted currency especially among the hard working people in germany, so everyone pumps gas into it, germany, saudi arabia, russia, usa, to get funds out.

usa and russia have thousandfolt the capacity to flood europe with food but thats not the issue its still the currency the population trusts in, although the euro banking cartel gets increasingly a fail