Russia Oil Production

India, the world's third largest oil consuming and importing nation, spent 102.5 billion euro (about Rs 1.5 lakh crore) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for fossil fuels since February 24, 2022. "According to our estimates, since the beginning of the war, Russia earned EUR 835 billion in revenue from fossil fuel exports," it said. China was the biggest buyer of Russian fossil fuel at EUR 235 billion (made up of EUR 170 billion for oil, EUR 34.3 billion for coal and EUR 30.5 billion for gas). India, according to CREA, bought fossil fuel worth EUR 205.84 billion from Russia from the beginning of the war until March 2, 2025. This comprised EUR 112.5 billion (USD 121.59 billion) for purchase of crude oil, which is refined into fuels like petrol and diesel at refineries, and EUR 13.25 billion for coal. India, which is

Widened sanctions on Moscow by Western countries including the United States have roiled global oil trade and forced buyers of discounted Russian crude to find new ways to maintain their purchases

Some are existing outfits that have not been impacted by the punitive measures, while others are newly created, replacing those that are now off-limits

Two of the listed projects were funded by USAID, three by the Bureau of International Narcotics and Law Enforcement and one directly by the Department of State, the document showed

A sharp rise in LNG prices threatens to unravel India's projected 12% growth in demand for the fuel this financial year

Ukrainian long-range drones struck one of Russia's biggest oil refineries for the second time in three days, a senior Kyiv official said Monday, as Ukraine tries to slow the Russian army's push along parts of the front line and the third anniversary of the war approaches. The attack late Sunday hit a refinery in the Volgograd region, which is one of Russia's 10 biggest refining facilities, processing close to 6% of the country's oil, an official in Ukraine's Security Service told The Associated Press. Russian authorities acknowledged only a brief fire at the Volgograd refinery during the drone attack. Ukrainian defences are creaking under months-long Russian drive to occupy more land, especially in Ukraine's eastern industrial heartland, before the possible start of peace negotiations steered by US President Donald Trump. Ukraine, though heavily dependent on Western military aid, has been developing its own arms industry, including drones that can fly increasingly long ranges with

Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier

Indian refiners are struggling to secure Russian oil supplies following the latest US sanctions aimed at Russian producers

Russian refining runs rose by 2 per cent, or by 108,000 barrels, to 754,800 metric tons a day on Jan 15-19 from the first week of the year, according to the sources

Emergency Situations Minister Alexander Kurenkov announced that the damaged tanker would be drained earlier this month but workers found it was continuing to leak oil into the water

India became the top buyer of Russian sea-borne oil sold at a discount after Western nations imposed sanctions on Moscow

BPCL's Russian oil processing declined to 31 per cent in December quarter from about 35-40 per cent in the previous month

Cargoes must be loaded before Jan 10 to evade sanction laws: Treasury Dept

Indian refiners have until Feb 27 to wind down transactions with sanctioned Russian tankers, opaque traders, a shadow fleet, and insurers, according to a US govt official

The official stressed that there are new sanctions on 15 companies related to Russia and China that have worked together to avoid existing sanctions

Refiners looking to strike arrangements with suppliers in next 2 months

The US' latest sanctions on Russian energy supply chains could hit India's oil and gas imports, even as the EU nations and other American allies may face little impact

Price caps on Russian seaborne crude as well as refined petroleum products were set by G7 countries to curb Moscow's revenues from oil trade

Analysts and energy traders said the sanctions will push China and India to source more crude from the Middle East, Africa and the Americas, boosting prices and shipping costs

Global Brent crude futures extended gains to climb above $81 a barrel on Monday, their highest since August, on expected disruption of Russian oil supply to China and India