Ukrainian Drone Strikes Hit Several Russian Oil Refineries

What Happened?

Ukraine launched a series of drone attacks on Russian oil refineries yesterday. According to Reuters, the strikes hit at least ten different oil facilities affecting 17% of Russia’s total refining capacity, equally 1.1 million barrels a day.

The strikes by Ukraine on Russian oil infrastructure follows a series of high-profile diplomatic initiatives that failed to secure a cease fire or permanent peace deal to end the three-year long conflict. 

Why it Matters

According to Sergei Vakulenko, a senior fellow at the Carnegie Russia Eurasia Center, a former employee of Russian oil major Gazprom, the oil refineries hit by Ukrainian drones have lost a portion of their capacity which could create problems for Russia with its domestic fuel supplies. 

Apple’s next move could reshape how we use phones

Apple’s in the headlines again.

Bloomberg says the company is testing a next-gen Siri that won’t just answer questions, it’ll run your apps for you.

Book an Uber. Post on social media. Send a file. All with one voice command.

But while everyone’s focused on Apple’s stock price, the biggest percentage gains can happen in smaller, under-the-radar companies riding the same wave of mobile engagement.

That’s where Mode Mobile comes in.*

Mode’s platform rewards people for the screen time Big Tech already takes, and it’s already grown 32,481% in revenue (America’s #1 fastest growing software company per Deloitte).

Plus, the company has:

● 50M+ users
● $325M+ paid to users
● $75M in real revenue
● Nasdaq ticker secured for potential IPO

Apple will keep making phones more embedded in our daily lives, but Mode turns that time into income.

And unlike Apple, Mode’s shares are still available at early-stage prices before potential IPO.

The last mobile revolution minted millionaires.

This one could too.

>>> Get all the details here

According to Alex Stezhensky, the attacks have hit Russia during peak domestic demand for gasoline, which is fueled by tourists and farmers. Even before the recent Ukrainian drone attacks, the Russian government added restrictions on gasoline exports to address increasing internal demand. There have been reports of shortages in Russia, including the port city of Vladivostok, where a seasonal influx of tourists has led to long lines at gas stations according to Reuters.

Russia is a leading producer and exporter of oil and natural gas. Taxes from the sales and export of liquid natural gas and oil account for nearly a quarter of all revenue collected by the Russian government. And that is after factoring in sanctions levied on Russia by Europe and the United States, which have reduced the amount of money Russia makes from its energy exports.

The drone strikes demonstrate that Ukraine still has the will and the capability not only to defend itself, but also to take the war directly to Russia. The recent attacks undercut claims made by the Russian government that Ukraine has been defeated. Ukraine still possesses a substantial military capability, enough to project power beyond its own borders. 

While Russian authorities have downplayed the significance of Ukraine’s drone attacks, it is likely that the effects of a shrinking domestic energy production capacity are being felt throughout Russia. But the loss of oil production and revenue has not slowed Russia’s arms industry, which continues to produce shells and ammunition on a large scale. It is likely at least a portion of Russia’s arms capacity can be traced to North Korea. 

The recent Russian drone attacks on Ukraine and Ukraine’s retaliatory strikes on Russian oil facilities indicate that neither side is backing down.

How it Affects You

While the world continues to call for a peace agreement or cease fire, Russia and Ukraine remain committed to continuing hostilities against each other. Until the territorial disputes at the heart of the conflict are resolved, the fighting is likely to continue.

^*Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.

Please read the offering circular and related risks at invest.modemobile.com.