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Market Chatter: Russia's Komsomolsk Refinery Catches Fire After Technical Incident, Output Unaffected

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The largest oil refinery in Russia's Far East region caught fire on Tuesday due to a technical incident, with operations largely unaffected, according to a Bloomberg report, citing a regional government statement.

The Komsomolsk-on-Amur oil processing facility experienced a massive fire after one of its units lost pressure. The blaze was contained and extinguished right away, with nobody injured, according to the government's statement.

Regional Energy Minister German Tyutyukov said that the refinery's operations continued unabated, with output "running at full capacity." He also noted that repairs at the Rosneft-owned facility, with a total capacity of 160,000 barrels per day, were expected to be concluded by the end of the day.

This comes at a time when Moscow's crude processing capabilities were already tight due to relentless Ukrainian drone attacks against the country's infrastructure.

Rosneft did not immediately respond to' request for a comment on this story.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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