Page 9 - Russia Oil Production

Russia faces fuel shortages after Ukrainian drone strikes on refineries

Gas stations have run dry in some regions of Russia after Ukrainian drones struck refineries and other oil infrastructure in recent weeks, with motorists waiting in long lines and officials resorting to rationing or cutting off sales altogether. Wholesale prices on the St Petersburg International Mercantile Exchange for A-95 gas the highest octane spiked to record highs last week, soaring to about 50 per cent higher than in January, as demand soared from farmers seeking to bring in the harvest and Russians hitting the roads for their last big vacation of the summer. Russian media outlets reported fuel shortages are hitting consumers in several regions in the Far East and on the Crimean Peninsula, which was illegally annexed from Ukraine by Moscow in 2014. Media outlets in the Primorye region, which borders North Korea, reported long lines and prices of about 78 rubles per litre (approximately USD 3.58 per gallon) at gas stations in the area, where the average monthly wage is about

Trump's 50% tariffs take effect today: Which sectors are in firing line?

The Donald Trump-led US administration links the 50% duty to India's Russian oil imports; sectors from textiles to seafood brace for impact

Exxon Mobil exploring return to Russia's Sakhalin: Here's what we know

After its 2022 exit, Exxon is exploring a return to Russia's Sakhalin-1 project. The firm has been in talks with Russian energy major Rosneft, as Putin signals openness during Alaska summit

Oil prices dip after hitting three-week high on Russian supply concerns

Oil's rally on Monday was primarily driven by supply risks after Ukraine strikes on Russian energy infrastructure and the possibility of further US sanctions on Russian oil

Indian refiners to trim Russian oil purchases as higher US levies loom

State-run and private processors, including heavyweight Reliance Industries Ltd., are expected to buy 1.4 million-to-1.6 million barrels a day for October loading and beyond

Russian oil supplies to Slovakia may resume today, says Slovak minister

Slovakia and Hungary said on Friday that their supplies of Russian oil could be suspended for at least five days after a Ukrainian strike on a facility in Russia

Jaishankar calls out West's double standards on Russian energy purchases

India's External Affairs Minister S Jaishankar said that the US itself had encouraged India to stabilise the world energy market by continuing to buy crude oil from Russia

Indian Oil, BPCL resume buying Russian oil for September as discounts widen

Discounts for Russian flagship Urals crude have widened to about $3 per barrel, making the oil attractive for Indian refiners, while China has stepped up purchases, the officials said

Chinese refiners sweep Russian oil as Indian demand weakens, discounts fall

China had secured 15 Russian Urals cargoes for October-November delivery by the end of last week, said Richard Jones, a Singapore-based crude analyst at Energy Aspects

India's Russian oil imports dip in July, skips LatAm supply, data shows

India imported 1.5 million barrels per day of Russian crude in July, down 24.5 per cent from the previous month, the data showed

US tariffs: Fitch cautions rising second-order risks may hit India Inc

Fitch says Indian pharma, oil marketing companies and auto exporters face downside risks from US tariffs, with Biocon and HPCL-Mittal flagged as vulnerable

Russian crude oil import largely stable despite US tariff announcement

Cargoes of crude oil for September delivery in India down 45% in August compared to July

China refines Russian oil then sells, Europe can toughen sanctions: Rubio

US Secretary of State Marco Rubio said the Russian oil that China is buying is being refined by Beijing, and that refined oil is then sold into the global marketplace. "Well, if you look at the oil that's going to China and being refined, a lot of that is then being sold back into Europe. Europe's also buying natural gas still. Now, there are countries trying to wean themselves off it, but there's more Europe can do with regard to their own sanctions," Rubio said in an interview with Fox Business on Sunday. He was responding to a question on whether Europe is still buying Russian oil. To a follow-up question on whether sanctions are being contemplated against Europe for continuing to buy oil and gas from Russia, Rubio said: "Well, I don't know about (sanctions) on Europe directly, obviously, but certainly there are implications to secondary sanctions. "If you put secondary sanctions on a country let's say you were to go after the oil sales of Russian oil to China well, China jus

India's Russian crude buying has to stop, says US trade adviser Navarro

India's Foreign Ministry has previously said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia

India recalibrates strategy on US trade deal amid geopolitical tensions

In July, negotiators from India and US had discussed the visit of the American team for sixth round of bilateral trade negotiations during the week starting Aug 25. That visit has now been called off

India's rivals China, Turkey seek cheaper Urals, capping oil price rise

This comes as Trump-Putin meet remains inconclusive

Trump delays tariffs on China over Russian oil, says 'may revisit in weeks'

This pause in tariffs could offer India a short-term relief on crude prices and import costs despite higher duties

Picking on India: How US tariff move targets Russian oil-linked exports

The country needs energy and Trump knew that when he announced a 25 per cent tariff on much of India's exports for sourcing discounted oil from Russia, which is India's oldest ally

High levels of Russian crude imports may not last forever, says govt

The ministry was commenting on a recommendation by the panel on imports of crude oil from Russia according to the report of the panel tabled in Parliament today

SBI halts Nayara's overseas transactions over Russia sanctions risk

State Bank of India (SBI) stops Nayara Energy's overseas transactions to avoid possible US and EU sanctions linked to Russian ownership, as banks grow cautious