Page 12 - Russia Oil Production

Widening net: New US sanctions to affect supply of Russian energy

Two large producers and exporters have been brought into the sanctions net: Surgutneftegas and Gazprom Neft

Two Indian firms sanctioned by US for 'aiding' Russia's Arctic LNG project

The US has announced sanctions on two Indian firms for allegedly aiding Russia's Arctic LNG 2 project, in violation of its energy curbs aimed at crippling Moscow's revenue streams amid the Ukraine war

Will continue oil, gas projects despite US sanctions, says Russian govt

A ministry statement also said that Russia would respond to Washington's "hostile" actions, announced on Friday, while drawing up its foreign policy strategy

US to impose sanctions on Russian oil, Indian supplies may be hit

The sources said they understand that the new US sanctions would target more than 180 tankers shipping Russian oil and Russia-based maritime insurance service providers Ingosstrakh Insurance Company

Russian oil spill kills over 30 dolphins; Putin called ecological disaster

Thirty-two dolphins have died since fuel oil spilled out of two storm-stricken tankers three weeks ago in the Kerch Strait, which separates the Russia-occupied Crimean Peninsula from Russia's southern Krasnodar region, an animal rescue group said Sunday. Russia's Delfa Dolphin Rescue and Research Center said the deaths are most likely related to the fuel oil spill. The centre said on the messaging app Telegram that a total of 61 dead cetaceans an order of aquatic mammals that includes whales and dolphins had been recorded since the emergency, but the condition of the bodies suggested that the 29 others had died before the spill. Judging by the condition of the bodies, most likely the majority of these cetaceans died in the first 10 days after the disaster. And now the sea continues to wash them up, the centre wrote, noting that most of the dead dolphins were from the endangered Azov species. Russia's Emergencies Ministry said on Sunday that over 96,000 tons of contaminated sand a

Russia's CBRF to resume regular forex operations under budget rule in 2025

Under Russia's budget rule, the finance ministry sells foreign currency from its rainy day National Wealth Fund (NWF) to make up for any shortfall in revenue from oil and gas exports

State refiners may buy Middle East spot oil to replace Russian shortfall

The refiners fear continued problems in securing Russian oil in the spot market could continue in coming months

Damaged Russian ships likely spilled 3,700 tonnes of oil in Kerch Strait

An estimated 3,700 tons of low-grade fuel oil has spilled into the Kerch Strait after two Russian ships were seriously damaged by stormy weather, Russian state media reported Monday. The two ships, the Volgoneft 239 and the Volgoneft 212, were transporting roughly 9,200 tons of mazut, a heavy, low-quality oil product. Social media footage from the scene showed a black liquid rising among the waves. Preliminary estimates say that 3,700 tons of mazut leaked into the sea, Russian state news outlet RIA Novosti reported, citing an unnamed source. In a statement, the leader of Russia's nearby Krasnodar region, Gov. Veniamin Kondratev, said that the oil had not yet reached the shore. An emergency rescue operation was launched Sunday after the Volgoneft-212 tanker ran aground and had its bow torn away in storm conditions, Russia's Emergency Situations Ministry said. One sailor in the 13-man crew died, officials said. A second tanker, the Volgoneft-239, was also left damaged and adrift with

India's import of Russian oil drops in Nov to lowest level since June 2022

India's import of Russian crude oil dropped in November to its lowest level since June 2022 but the Kremlin continues to be the biggest source of oil for India, according to a monthly tracker report of a European think tank. India became the second biggest buyer of Russian crude oil since Moscow invaded Ukraine in February 2022, with purchases rising from less than one per cent of the total oil imported to almost 40 per cent of the country's total oil purchases. The rise was primarily because the Russian crude oil was available at a discount to other internationally traded oil due to the price cap and the European nations shunning purchases from Moscow. "India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022," the Centre for Research on Energy and Clean Air (CREA) said its latest report. Russia remained India's top oil supplier, followed by Iraq and Saudi Arabia. "China has bought 47 per cent of Russia's crude exports,

Moldova declares energy state of emergency fearing Russian gas shortage

Moldova's parliament on Friday voted in favour of imposing a state of emergency in the energy sector over fears that Russia could leave the European Union candidate country without sufficient natural gas supplies this winter. A majority in Moldova's 101-seat legislature voted to pass the state of emergency, which will start on December 16 and last 60 days. A special commission will urgently adopt measures to manage imminent risks if Moscow fails to supply gas to the Kuciurgan power plant, the country's largest, which is situated in the separatist pro-Russian Transnistria region. Moldovan Prime Minister Dorin Recean said his country faces an exceptional situation in which Moscow could deliberately weaponise energy flows to destabilise the country, and potentially leave people in the middle of winter without heat and electricity. Russian energy giant Gazprom supplies the gas-operated Kuciurgan plant, which generates electricity that powers a significant portion of Moldova proper. The

Rising costs squeeze intermediaries out of Russian oil trade with India

India has become the biggest buyer of Russia's seaborne crude after Moscow's invasion of Ukraine in 2022

Jaishankar slams Western criticism of India's purchase of Russian oil

Criticising Europe's selective approach, Jaishankar asked why Europe has itself not cut its businesses with Russia

Russian oil output broadly stable in Oct at 9.01 mn barrels per day: Opec

This was slightly above the quota agreed by the Opec+ group of leading oil producers, which includes Opec and allies such as Russia

Russian oil finds way to Europe; India now biggest exporter of fuel to EU

India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine. However, a lack of a policy on refined oil produced from Russian crude meant that countries not imposing sanctions could import large volumes of Russian crude, refine them into oil products and legally export them to the price-cap coalition countries. India has become the second biggest buyer of Russian crude oil since the invasion, with purchases rising from less than one per cent of the total oil imported in the pre-Ukraine war period to almost 40 per cent of the country's total oil purchases. The rise was primarily because Russian crude oil was ...

Global oil prices would have soared if we hadn't imported from Russia: Puri

New Delhi has repeatedly defended its purchases from Russia as necessary to keep prices in check

Russia's oil refining capacity likely to fall by 15% in later half of Oct

A decline in idle oil refining capacity usually leads to less available crude oil and a resulting fall in exports as refineries consume more feedstock to produce fuel

Govt-owned refiners likely to ink Russian crude term deal by FY26

Oil priced above $60/barrel reaching India from Russia

India plans to keep buying cheap Russian oil, says Hardeep Singh Puri

European countries and Japanese businesses are buying from Russia, so India is not alone, he said

Russian crude flow to India declines in Aug, Iraq improves market share

India's overall crude imports declined by around 6.6 per cent in August month-on-month to 4.5 million bpd, but the reduction in Russian shipments was more than twice as large

Savings for Indian refiners from Russian crude decline to a third

Indian refiners saved $8-10 billion from April 2022 to June 2024 - enough to cover half the fertiliser subsidy bill