Page 11 - Russia Oil Production

Trump slaps 25% tariff on Indian goods: Smartphones, pharma, shrimp hit

The tariff kicks in August 1 and threatens key Indian exports like smartphones, pharma and shrimp ahead of trade talks set for August 25 in New Delhi

Indian shipowners urge Nayara to end vessel charters after EU sanctions

Indian firms seek charter exits with Nayara amid EU sanctions; company files Delhi HC plea against Microsoft for suspending digital access citing compliance

RIL's oil procurement under scrutiny as EU warns refiners using Russia oil

While it's too early to tell if Reliance will pivot dramatically away from Russia, traders say there are some initial signs of the company seeking alternatives

Russia-linked refinery tightens sale terms, seeks early payment after curbs

Nayara Energy Ltd., part-owned by Rosneft PJSC, said it was seeking advance payment or a documentary letter of credit, before loading a shipment of naphtha next month

Indian refiners unfazed by European Union's new Russia oil sanctions

Fuel export to Europe is already on decline after record 2023

EU curbs on Russian oil may hit India's $15 bn fuel exports: GTRI

India's petroleum product exports worth USD 15 billion to the European Union (EU) may be at risk as Brussels moves to restrict imports of Russian crude oil refined in third countries, economic think tank GTRI said. The 18th package of sanctions by the 27-nation EU included a set of measures largely aimed at curbing the revenues of Russia's oil and energy sector, such as an import ban on refined petroleum products made from Russian crude oil and coming from any third country. The Global Trade Research Initiative (GTRI) said that a central component of the package is a ban on the import of refined petroleum products made from Russian crude and exported via third countries, excluding only a select few allies like the US, UK, Canada, and Switzerland. This measure will hurt nations such as India, Turkey, and the UAE, which have been refining Russian crude and selling diesel, petrol, and jet fuel to Europe, it said. "India's USD 5 billion exports of petroleum products to the EU are at ri

EU imposes sanctions on Rosneft's India refinery, lowers oil price cap

The European Union on Friday imposed sanctions on the Indian oil refinery of Russian energy giant Rosneft and lowered the oil price cap, as part of a new raft of measures against Russia over its war in Ukraine. The fresh sanctions package on Russia included new banking restrictions, and curbs on fuels made from Russian crude oil. The lowered oil price cap - currently set at USD 60 per barrel - means Russia will be forced to sell its crude at reduced rates to buyers like India. As the second-largest purchaser of Russian oil, India stands to benefit from this move. Russian crude currently accounts for nearly 40 per cent of India's total oil imports. "For the first time, we're designating a flag registry and the biggest Rosneft refinery in India," EU foreign policy chief Kaja Kallas said in a post on X. Rosneft owns 49.13 per cent stake in Nayara Energy Ltd, formerly Essar Oil Ltd. Nayara owns and operates a 20 million tonne a year oil refinery at Vadinar in Gujarat as also over 6,750

Energy needs our priority, no double standards please: India to Nato

MEA says securing India's energy needs is a top priority and cautions against double standards amid NATO threat of secondary sanctions over Russian oil imports

India's oil imports from Russia hit 11-month high in June amid war fears

India's import of crude oil from Russia rose to an 11-month high in June as refiners topped up tanks amid the Israel-Iran war, analysts said. India imported 2.08 million barrels per day (bpd) of Russian crude in June, the highest since July 2024, according to vessel tracking data from global commodity market analytics firm Kpler. "While India's global imports of crude oil dropped by 6 per cent in June, Russian volumes saw an 8 per cent month-on-month rise to their highest levels since July 2024," European think tank Centre for Research on Energy and Clean Air said. "More than half of these imports from Russia were made by three refineries in India, which also export refined products to G7+ countries." India imports more than 85 per cent of its requirement of crude oil, which is turned into fuels like petrol and diesel in refineries. Traditionally, the Middle East was the main source, but Russia has been the mainstay supplier for nearly three years now. After much of the West shunn

Govt quells fears of US tariff threat on Russian crude oil import

Points to deepening India-US trade; diversified crude flows in as counterbalance

India, China to face 500% US tariff? Trump backs Russia sanctions bill

The Senate bill, backed by Trump, seeks to penalise nations buying Russian oil; it could reshape US trade ties with India and China amid Ukraine conflict

Indian private refiners dominate buying of Russian flagship oil grade

Reliance Industries Ltd. and Nayara Energy Ltd. alone took 45 per cent of Russia's shipments of the medium-sour variety

Russia increases seaborne fuel oil exports to India, Turkey in May

Oil prices fell to four-year lows as an Opec+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain

Russian oil freight rates to India ease, EU curbs may reverse trend

The European Union has put forward a new sanction package against Russia over Ukraine and proposed to lower the Group of Seven nations' price cap on Russian crude oil to $45 a barrel from $60 a barrel

India's Russian oil imports hit 10-month high on strong ESPO demand

More ESPO was offered to India as Chinese state-owned companies continue shunning sanctioned crudes and crude quotas are running tight for Chinese independent refiners, analysts said

EU, UK impose new sanctions on Russia's shadow fleet of oil tankers

The European Union on Tuesday agreed to impose fresh sanctions on Russia, notably targeting almost 200 ships from the shadow fleet illicitly transporting oil to skirt Western restrictions put in place over Moscow's war in Ukraine. The 27-nation bloc targeted 189 ships in all, and imposed asset freezes and travel bans on several officials as well as on a number of Russian companies. The measures were endorsed by EU foreign ministers in Brussels. EU foreign policy chief Kaja Kallas said that while President Vladimir Putin feigns interest in peace, more sanctions are in the works. Russia's actions and those who enable Russia face severe consequences. Russia uses its shadow fleet of ships to transport oil and gas, or to carry stolen Ukrainian grain. The EU has now targeted almost 350 of the ships in total. The new measures are not obviously linked to Russian delays in agreeing to a ceasefire. Work on the measures began in the days after the last package was finalised three months ...

EU to set out plan for phasing out Russian gas deals, existing contracts

The EU has a non-binding aim to end its reliance on Russian fossil fuels by 2027, which it set after Moscow's 2022 full-scale invasion of Ukraine

India looking for partners, not 'preachers': Jaishankar's message to Europe

S Jaishankar said that Europe must display some 'sensitivity and mutuality of interest' for closer ties with India

Indian Oil pauses Russia oil deal talks, says not related to US sanctions

Indian Oil Corporation had a term deal with Russia, which expired in March 2023 and has not been renewed since

Donald Trump tariffs defuse US sanctions on Russian oil, favour India

Indian Oil, Bharat Petroleum and Hindustan Petroleum, among others, had agreed to term contract extensions this year with Iraq, Saudi Arabia and UAE