Russia Oil Production

Adverse developments in West Asia, US, Russia: India may be worst-hit

The legislation allows US President Donald Trump to impose tariffs of as much as 100 per cent on the top five purchasers of Russian oil and natural gas, essentially targeting China and India

9 killed, 80 injured as Ukraine strikes warehouses, oil depot in Russia

Ukrainian drones struck two sprawling warehouses, one of them just east of Moscow, as part of attacks overnight and on Saturday afternoon that killed nine people and wounded more than 80, Russian officials said. Kyiv's forces have pressed their relentless aerial campaign against energy infrastructure and military targets inside Russia, aiming to undermine Moscow's war effort and make Russians feel the consequences of the Kremlin's all-out invasion of Ukraine that is well into its fifth year. Two sprawling warehouses of Russia's major online retailer, Wildberries, were hit by Ukrainian drones overnight, according to Russian officials - one in the town of Kotovsk in the Tambov region, some 360 kilometers (220 miles) from the border with Ukraine, and another in the city of Elektrostal, about 50 kilometers (30 miles) east of Moscow. A Ukrainian drone also hit an oil depot in the city of Noginsk, just north of Elektrostal, sparking a fire and prompting evacuations of a nearby maternity .

An unreasonable Bill: Tariffs on Russian oil importers make no sense

A proposed US Bill targeting buyers of Russian oil could disrupt India's energy security and trade, even as West Asia tensions threaten global oil supplies

India's Russian crude imports jump 34% in June as Moscow's revenues slip

India's imports of Russian crude oil surged to a record high in June, rising 34 per cent from the previous month despite a decline in Russia's overall oil export revenues, according to a report by the Centre for Research on Energy and Clean Air (CREA). India bought Russian crude worth EUR 4.5 billion in June, accounting for 83 per cent of its total Russian fossil fuel imports of EUR 5.5 billion, making it the second-largest buyer of Russian hydrocarbons after China, the report said. The sharp increase came as India's overall crude imports rose 5.4 per cent month-on-month, with Russian supplies to key refineries posting steep gains. Deliveries to Reliance Industries' Jamnagar refinery jumped 150 per cent from May, while imports at Indian Oil Corp's Paradip refinery rose 126 per cent. BPCL's Kochi refinery and Nayara Energy's Vadinar refinery recorded increases of 83 per cent and 45 per cent, respectively, CREA said. The surge in Indian purchases helped lift Russia's crude export ...

Russia bans diesel exports after Ukrainian drone attacks hit refineries

Russia's temporary diesel export ban has pushed global fuel prices to multi-year highs, adding fresh pressure to energy markets already disrupted by the Iran war

Traders likely sold Nayara-made gasoline to Russia amid fuel shortages

Russia-backed private refiner Nayara has been relying on traders to import crude & export refined fuels since European Union sanctions imposed last July complicated payments with customers & suppliers

Russia may allow lower quality fuel output, imports to tackle supply crisis

Russia is considering temporarily permitting Euro-2 fuel standards, which were phased out more than a decade ago due to environmental concerns

Ukraine hits another Russian oil refinery as Putin admits fuel shortage

Ukraine kept up its heavy drone assault on Russia, setting fire to a major oil refinery in the south, as President Vladimir Putin acknowledged for the first time on Sunday that the country was facing a "certain deficit" of fuel and vowed to strengthen protection of oil facilities and boost fuel output. Ukraine has markedly stepped up its long-range attacks on Russian military industries and energy facilities in recent months, aiming to cut Moscow's revenue for its invasion - now in its fifth year - and make Russians feel the consequences. "Our long-range sanctions' reached two oil refineries in Russia," Ukrainian President Volodymyr Zelenskyy wrote on the Telegram messaging app on Sunday. "Each (strike) means a reduction in the resources that fuel the Russian war machine, and another step toward peace." The campaign has choked Russian fuel supplies, causing widespread shortages and long lines at gas stations across the country and prompting authorities in many regions to introduce .

US trade pact proposal more like one-sided market access: Ashwani Mahajan

Ashwani Mahajan says the proposed India-US trade pact has become a one-sided market access arrangement, with key differences persisting over agriculture, data and Russian oil

Russian oil imports may hit record high in June on discounts, supply curbs

Until June 20, Russia contributed to nearly 50 per cent of India's total crude oil imports in the month, showed data from maritime intelligence firm Kpler

Crude surplus may widen Russian discounts as supplies rise post-ceasefire

Indian refiners expect Russian crude discounts to widen as additional supplies from Iran and West Asia enter the market following the US-Iran ceasefire agreement

Large-scale Ukraine drone attack hits Moscow refinery, Russia fires back

The attack is the second in just a few days after a drone strike on Tuesday halted operations at the refinery

Democrat Senators ask Trump not to extend sanction waiver on Russian oil

Two Democratic Senators have urged President Donald Trump against granting any further exemption from US sanctions on the purchase of Russian oil, contending that there is no rationale for such a move, as the war with Iran is now over. In a statement here on Tuesday, Senators Jeanne Shaheen and Elizabeth Warren said the waiver from sanctions has only helped Russia finance its "illegal war" with Ukraine. In March, the US granted a sanctions waiver to India for the purchase of Russian oil in a bid to stabilise global oil markets as the war with Iran, which started on February 28, led to a sharp increase in crude prices. The sanctions waiver was later extended to other countries. The one-month exemption has been extended twice and expires on June 17. "Extending this license yet again would give Vladimir Putin another opportunity to reap windfall financial gains while he continues his brutal war against Ukraine," the two senators said. They said an extension would also clearly contrad

India's Russian oil imports rise in May as refiners boost purchases

India remained the world's second-largest buyer of Russian fossil fuels in May, importing an estimated 5.8 billion euros (USD 6.7 billion) worth of Russian hydrocarbons as refiners stepped up crude purchases from Moscow, European think tank Centre for Research on Energy and Clean Air (CREA) said in a report. Crude oil accounted for about 83 per cent of India's imports from Russia during the month, valued at 4.8 billion euros, while oil products and coal imports stood at 550 million euros and 429 million euros, respectively. "India's total crude import volumes recorded an 8 per cent month-on-month increase in May. This is partially explained by a 21 per cent month-on-month increase in Russian imports," CREA said. Some of India's largest refining hubs recorded notable increases in Russian crude arrivals. Unloaded volumes at the Vadinar refinery in Gujarat rose 36 per cent from April levels, while deliveries to the Jamnagar refining complex in the state increased 14 per cent. Accordin

Europe sold weapons used against India: Jaishankar defends ties with Russia

The External Affairs Minister further countered the criticism by drawing attention to Europe's historical and moral inconsistencies regarding global security dynamics

European Union mulls temporary freeze on Russian crude oil price cap

The EU is weighing a freeze on its Russian oil price cap as the West Asia conflict drives crude prices sharply higher ahead of a July review

India raises Russian crude oil and US gas imports in May, shows data

Imports of Russian crude oil rose to 1.92 million barrels per day till May 28

India's gains crimped as US changes terms in Russian oil waiver extension

Fresh US waiver terms may curb Russian oil supplies to India as sanctioned cargo availability shrinks and refiners face mounting geopolitical uncertainty

West Asia crisis: Russian oil waiver extension a huge relief, say experts

he US has extended sanctions waiver on Russian oil purchases till June 17, easing pressure on Indian refiners reliant on discounted crude imports

US issues 30-day general licence to provide access to Russian oil: Bessent

Treasury Secretary Scott Bessent says 30-day extension will help stabilise crude markets and support countries affected by Gulf supply disruptions