Page 14 - Russia Oil Production

NSA Ajit Doval meets Russian counterpart; discuss bilataral cooperation

During the meeting, he called for closer cooperation in the fight against terrorism and concrete actions to prevent transborder planning, funding and execution of terrorist acts

Indian refiners may need a rethink amid shrinking Russian crude discounts

Even after reduction, discounts on Russian crude oil may be contributing $1.5 to $2.5 a barrel to refiners' gross refining margins

Russia squeezes Mideast, OPEC shares in India's oil mkt to historic lows

Russia is an ally of the Organization of Petroleum Exporting Countries (OPEC) but it has eaten into the share of India's crude diet from key OPEC producers in the Middle East

Russia reduces railway exports of gasoline by 26.5% in April so far

Russia banned gasoline exports for six months from March 1 except to a Moscow-led economic union and some countries, with which it has direct inter-government agreements on fuel supplies

China increasing weapons sales to Russia to support war against Ukraine

China has surged sales to Russia of machine tools, microelectronics and other technology that Moscow in turn is using to produce missiles, tanks, aircraft and other weaponry for use in its war against Ukraine, according to a US assessment. Two senior Biden administration officials, who discussed the sensitive findings Friday on the condition of anonymity, said that in 2023 about 90 per cent of Russia's microelectronics came from China, which Russia has used to make missiles, tanks and aircraft. Nearly 70 per cent of Russia's approximately USD 900 million in machine tool imports in the last quarter of 2023 came from China. Chinese and Russian entities have also been working to jointly produce unmanned aerial vehicles inside Russia, and Chinese companies are likely providing Russia with nitrocellulose needed to make propellants weapons, the officials said. Beijing is also working with Russia to improve its satellite and other space-based capabilities for use in Ukraine, a development

Oil consolidates gains amid concerns of worsening Middle East conflict

US Secretary of State Antony Blinken has told Israeli Defense Minister Yoav Gallant that the United States will stand with Israel against any threats by Iran

Russia renews attacks on Ukraine with new tactics, improved intelligence

When the Russian barrage hit the Ukrainian power plant, a worker named Taras was manning the control panel a crucial task that required him to stay as the air-raid siren blared and his colleagues ran for safety. After the deafening explosions came a cloud of smoke, then darkness. Fires blazed, and shrapnel pierced the roof of the huge complex, causing debris to rain down on workers. Following protocols, Taras shut down the coal-fired plant, his heart racing. In the March 22 attack, Russia unleashed more than 60 exploding drones and 90 missiles across Ukraine the worst assault on the country's energy infrastructure since the full-scale invasion began in early 2022. The fusillade reflected Russia's renewed focus on striking Ukrainian energy facilities. The volume and accuracy of recent attacks have alarmed the country's defenders, who say Kremlin forces now have better intelligence and fresh tactics in their campaign to annihilate Ukraine's electrical grid and bring its economy to a

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 ...