Ishimbay, also spelled Išimbaj, or IshimbaiPalace of Culture, Ishimbay, Russia.Artur1917city, Bashkortostan republic, western Russia. Ishimbay lies along the Belaya (White) River. It was the earliest centre of the oil industry in the Volga–Urals oil field, which was first exploited in 1932, and of the first oil refinery started in 1936. Deposits have been depleted, but the city now is part of the Sterlitamak–Ishimbay–Salavat petrochemical complex, one of the most important in Russia. Pop. (2006 est.) 68,914.