Page 3 - Russia Oil Production

India not asked to reduce its imports of Russian crude oil, says US

According to estimates by the London-based commodity data analytics provider Vortexa, which tracks ship movements to gauge imports

Unrestricted Russian oil trade unacceptable, price cap to stay: US

The US on Thursday said permitting an unrestricted Russian oil trade was and remains "unacceptable" and the western price cap on Moscow's petroleum products is designed to force it to continue selling oil but for lower prices than it could otherwise obtain. At the same time, US officials said Washington has not asked India to reduce the volume of its oil import from Russia. The G7 price cap mechanism made it possible to stunt a major source of funding for Moscow's war machine while also maintaining a stable energy supply to Europe and to emerging markets, US Assistant Secretary for Economic Policy Eric Van Nostrand said at an interactive session at the Ananta Centre. "Emerging markets like India benefited from the discounted price of Russian oil relative to global markets," he said, asserting that the price cap mechanism was aimed at forcing Russia to sell oil at lower prices. Nostrad noted that the price cap is designed to foster a market in which Russia supplies energy at a heavi

No issues encountered with oil payment from India: Russia foreign ministry

External Affairs Minister S Jaishankar in February this year reaffirmed India's stance on buying Russian oil despite sanctions on Moscow amid military conflict with Ukraine

G7 price cap on Russian oil, recent action by Indian refiners working: US

Since October, the US has enforced the price cap with sanctions including designating in February Sovcomflot (SCF), Russia's state-owned shipping company

Indian Oil Corp set to tap spot oil market as Russian term deal lapses

State-run IOC's term contract with Rosneft expired on March 31, two sources said

Russia, Venezuela flows stay strong as cheaper crude evades US curbs

India may receive 4 million barrels of Venezuelan crude, the cheapest among all crude sources, in April, lower from 4.78 million barrels in March

Gazprom buys former Shell stake in Sakhalin Energy for $1 billion

Sakhalin Project is fully owned by Gazprom, company filings showed

Indian refiners buy more US crude amid tighter sanctions on Russian oil

India's Reliance, operator of the world's biggest refining complex, will not buy Russian oil loaded on tankers operated by Sovcomflot after recent US sanctions

Russia's oil-exporting machine finally getting snarled by sanctions

State-run Sovcomflot transported about a fifth of all Russia's crude deliveries to India last year

India's oil imports to be disrupted as US-Venezuela tensions escalate

Uncertainty over Venezuelan supplies comes amid reduced discounted Russian flows

Russian polls to give Putin another 6 yrs in power, a look at key issues

Vladimir Putin is poised to sweep to another six-year term in this week's presidential election, even though Russians are dying in Ukraine in a war grinding through its third year and his country is more isolated than ever from the rest of the world. The all-but-certain outcome comes through his rigid control of Russia established during his 24 years in power the longest Kremlin tenure since Soviet leader Josef Stalin. Putin, 71, has silenced virtually all dissent through harsh new laws that impose heavy fines or prison on independent voices. Critics have succumbed to unexplained deaths or fled abroad. The ballot features three other token candidates who publicly support his policies. How is the war affecting the election? Putin has focused his campaign on a pledge to fulfill his goals in Ukraine, describing the conflict as a battle against the West for the very survival of Russia and its 146 million people. In a state-of-the-nation address last month, he charged that the U.S. an

Undermanned Ukrainian army challenges power of Russia's Black Sea fleet

Ukrainian sea drones reportedly sank another Russian warship in the Black Sea on Tuesday, the latest in a series of strikes that has crippled Moscow's naval capability and limited its operations with the war now in its third year. Successful Ukrainian drone and missile strikes have provided a major morale boost for Kyiv at a time when its undermanned and under-gunned forces are facing Russian attacks along the more than 1,000-kilometer (600-mile) front line. Challenging Russia's naval superiority also has helped create more favorable conditions for Ukrainian grain exports and other shipments from the country's Black Sea ports. Here's a look at recent Ukrainian attacks against Russian naval assets and their consequences. RELENTLESS STRIKES In the latest reported strike, Ukrainian naval drones attacked the Sergei Kotov patrol ship near the Kerch Strait, which links the Black Sea and the Sea of Azov, according to the Ukraine's military intelligence agency. The strike, which couldn't

Opec+ production cuts deepen with extensions from Saudi, other oil giants

Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts. Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organisation noted Sunday. Saudi Arabia led the pack by extending its previously-implemented cut of 1 million barrels a day through the end of 2024's second quarter. The extension, which was first shared by the state-owned Saudi Press Agency citing a Energy Ministry source, means the kingdom's crude production will stand at about 9 million barrels a day through the end of June. Also on Sunday, Russia announced an additional voluntary cut of 471,000 barrels per day for the second quarter across a blend of production and exports. Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will be continuing reductions as well, according to OPEC's secretariat, in smaller amounts. The OPEC+ countries ...

Russia says to deepen crude oil output cuts while easing export limits

An industry source said that Russia is being forced to reduce production by the new sanctions, adding: 'There is no need to produce more than Russia can sell'

US sanctions on Russia's oil-shipping firms may leave India at sea

Washington is chipping away at the so-called shadow fleet that transports oil to China, India and Turkiye among others

'Some stranded Russian Sokol oil cargoes begin to move to China, India'

The backlog of Sokol tankers has become the biggest disruptions to Russia's oil trade since the West imposed sanctions on Moscow over its military actions in Ukraine

Zelenskyy signs security pact with France after similar deal with Germany

Ukrainian President Volodymyr Zelenskyy has signed a 10-year bilateral security agreement with France hours after he officialised a similar one with Germany. The agreements send a strong signal of long-term backing as Kyiv works to shore up Western support nearly two years after Russia launched its full-scale war. Zelenskyy was greeted in Paris at the Elysee presidential palace by President Emmanuel Macron. The agreement provides an additional package worth 3 billion euros (USD 3.2 billion) in military aid this year, the largest annual amount France has given to Ukraine since the war began. The outcome of Russia's war of aggression against Ukraine will be decisive for our interests, our values, our security and our model of society, Macron said. Yes, we must further invest to support Ukraine at a greater scale and in the long term, he added. Macron said he would travel to Ukraine by mid-March. Zelenskyy's stop in France comes after he met earlier in the day in Berlin with German

India resumes buying Russian Sokol oil after 2-month hiatus: Report

India did not receive Sokol oil in December and January, data from trade sources and the ship tracking data shows

India does not trust US; played smart by staying close with Russia: Haley

Aspiring Republican presidential candidate Nikki Haley on Wednesday said that India wants to be a partner with the US, but as of now they don't trust Americans to lead. The Indian-American presidential aspirant also said that New Delhi has played smart in the current global situation and stayed close with Russia. In an interview with Fox Business News, Haley, 51, said that as of now India sees the United States as weak. "I have dealt with India too. I have got to say, I have dealt with India too. I have talked with Modi. India wants to be a partner with us. They don't want to be a partner with Russia," she said. "The problem is, India doesn't trust us to win. They don't trust us to lead. They see right now that we're weak. India has always played it smart. They have played it smart, and they have stayed close with Russia, because that's where they get a lot of their military equipment," she said in response to a question. "When we start to lead again, when we start to get the weak

India's Russian oil import hits 12-mth low, long-term appetite intact

India's crude oil imports from Russia fell for a second straight month in January to its lowest in 12 months but the nation's insatiable appetite for Russian crude remains for the long term, according to data from energy cargo tracker and industry officials. Russia supplied 1.2 million barrels per day of crude oil to India in January, down from 1.32 million barrels in December and 1.62 million barrels in November 2023, according to data from energy cargo tracker Vortexa. Russia however continues to remain India's top oil supplier, accounting for a little less than a quarter of 4.91 million barrels a day of oil that the world's third largest energy consumer imported in January. The decline in cargoes from Russia was made up by increased sourcing from Iraq, which supplied 1.1 million barrels per day (bpd) in January, up from 985,000 bpd in the previous month. Supplies from Saudi Arabia declined to 659,000 bpd from 668,000 bpd in December. India is more than 85 per cent dependent on .