Page 7 - Russia Oil Production

US, Saudi Arabia vie for larger share of India's crude oil import pie

Amid global oversupply, the US is emerging as a cost-competitive oil supplier to India, challenging Saudi Arabia and other Gulf producers even as Russian barrels dominate

UK slaps 90 sanctions on Russian firms, Nayara Energy to curb Kremlin funds

The UK government has imposed sanctions to cut Russian oil revenues, targeting Putin's war funding and aiming to block money flowing to the Kremlin

Russian oil imports in Apr-Sep fell 8.4% on tighter supplies, discounts

September's volume was flat versus August at 1.6 million bpd, down 14.2 per cent from the same month a year ago, the data showed

Sanction-hit Nayara scrambles to sustain operations with support from India

Blocked from international markets by EU sanctions, the Russian-owned refinery has diverted more fuel to India and sought new export customers through various workarounds

Indian refiners likely to import more Russian oil as discounts deepen

Discounts on Urals crude loading in November are $2-to-$2.50 a barrel to Dated Brent, making it attractive

Russian oil traders ask Indian buyers to pay in yuan amid strong China ties

In 2023, Indian state refiners made some payments for Russian oil in yuan, but they stopped due to displeasure from the Indian government during a period of heightened tensions with Beijing

Hungary clings to Russian oil, gas as EU, NATO push to cut supplies

As the European Union pushes to fully sever its reliance on Russian energy and the administration of US President Donald Trump urges NATO members to abandon Russian oil, one country's populist government stands firm. Hungary and its leader, Prime Minister Viktor Orbn, have long argued Russian energy imports are indispensable for the country's economy and switching to fossil fuels sourced from elsewhere would cause an immediate economic collapse. Orbn, who has long had the friendliest ties to the Kremlin of any EU leader, has vigorously opposed the bloc's efforts to sanction Moscow after its invasion of Ukraine in February 2022, and blasted attempts to hit Russia's energy revenues that help finance the war. As the rest of Europe has weaned off Russian energy, Hungary has maintained, and even increased, its Russian imports, insisting no viable alternative exists. But some energy experts as well as Orbn's critics, who see his commitment to Russian energy as a symptom of his affinity

India eyes first US LPG deal as trade war shifts global fuel supply routes

India's state oil companies plan to import up to three large US LPG cargoes per month in 2026, marking the country's first long-term US supply deal

No international sanctions on buying Russian crude, says Hardeep Singh Puri

Petroleum Minister Hardeep Singh Puri said India will keep importing Russian oil as no sanctions ban such purchases, while stressing PSU oil firms are profitable but undervalued

India and US discuss contours of trade deal; seek early conclusion

Commerce Minister Piyush Goyal led a delegation to New York, where India and the US discussed contours of a trade deal and agreed to work towards an early conclusion despite oil-related hurdles

Nayara Energy finds new buyers after EU sanctions hit Russian oil trade

The privately-owned company halted exports for about two weeks after it was sanctioned by the European Union on July 18 for dealing in Russian oil

Hungary's Orban tells Trump cutting Russian energy would cripple economy

Hungarian Prime Minister Viktor Orbn said Friday that Hungary will continue to source fossil fuels from Russia despite demands from his ally US President Donald Trump, and that he'd informed the president that dropping Russian energy would be a disaster for Hungary's economy. Hungary remains one of the only countries in Europe to continue purchasing Russian oil and natural gas following Russia's full-scale invasion of Ukraine in February 2022. But Trump, an admirer of the long-serving Hungarian leader, earlier this month called on all NATO countries including Hungary to cease purchasing Russian oil, since he believes the Russia-Ukraine war would end if they did so. In comments to state radio on Friday, Orbn said he recently told Trump that that dropping Russian energy imports would be an economic disaster for Hungary. I told the US president ... that if Hungary is cut off from Russian oil and natural gas, immediately, within a minute, Hungarian economic performance will drop by 4 p

Buy oil from any country except Russia: US energy secretary tells India

Wright clarified the US position, stating, 'We wish India would work with us to buy (oil)'

Govt aims to expand trade in energy products with US: Piyush Goyal

India assures US of a bigger role in its energy security, with plans to boost trade in energy and nuclear cooperation, while avoiding mention of Russian oil imports amid tariff tensions

Hope we can fix it, says Rubio on US tariffs on India for Russian oil buy

The White House has imposed a cumulative 50 per cent tariffs on Indian goods, including a 25 per cent penalty for New Delhi buying Russian oil

Trump renews pressure on European countries to stop buying oil from Russia

The EU has already passed a ban that will prohibit importing petroleum products refined from Russia crude starting next year

US pushes to include India's Russian crude imports in trade negotiations

US officials have sought India to include Russian oil purchases in trade talks, even as New Delhi's refiners boost imports

Sanctioned Russian oil tanker reroutes to Vadinar after Adani port ban

A sanctioned Russian oil ship headed for Adani's Mundra port has changed course to Vadinar after the group barred blacklisted vessels, putting India's crude imports under fresh scrutiny

US plan to slap tariffs on India and China risks global trade backlash

Since India has none of China's bargaining chips, Trump has found it easy to target it for buying discounted Russian oil, a threat of further punishment, however, could backfire

Sanctions leave Nayara struggling to secure non-Russian crude supplies

Nayara Energy - part-owned by Russian oil giant Rosneft PJSC and blacklisted by the European Union in July - is facing difficulties in securing non-Russian crude supplies for a second month in a row as western shipping companies refused to ferry oil for it, ship tracking data showed. Nayara, which has already cut down the run rate of its 4,00,000 barrels a day oil refinery at Vadinar in Gujarat, remains heavily reliant on Russian barrels since August. The company got about 2,42,000 barrels per day (bpd) of Russian oil, possibly in ships arranged by Moscow, in August, and another 3,32,000 bpd in the first half of September, preliminary data by global trade analytics firm Kpler showed. It did not get any crude oil, which is converted into fuels like petrol and diesel at the refinery, from other key sources, such as Iraq and Saudi Arabia, in both August and September. Iraq and Saudi Arabia had supplied about 1,20,000 bpd of crude to Nayara in July. "Nayara's situation remains challeng