Page 15 - Russia Oil Production

Russia says to deepen crude oil output cuts while easing export limits

An industry source said that Russia is being forced to reduce production by the new sanctions, adding: 'There is no need to produce more than Russia can sell'

US sanctions on Russia's oil-shipping firms may leave India at sea

Washington is chipping away at the so-called shadow fleet that transports oil to China, India and Turkiye among others

'Some stranded Russian Sokol oil cargoes begin to move to China, India'

The backlog of Sokol tankers has become the biggest disruptions to Russia's oil trade since the West imposed sanctions on Moscow over its military actions in Ukraine

Zelenskyy signs security pact with France after similar deal with Germany

Ukrainian President Volodymyr Zelenskyy has signed a 10-year bilateral security agreement with France hours after he officialised a similar one with Germany. The agreements send a strong signal of long-term backing as Kyiv works to shore up Western support nearly two years after Russia launched its full-scale war. Zelenskyy was greeted in Paris at the Elysee presidential palace by President Emmanuel Macron. The agreement provides an additional package worth 3 billion euros (USD 3.2 billion) in military aid this year, the largest annual amount France has given to Ukraine since the war began. The outcome of Russia's war of aggression against Ukraine will be decisive for our interests, our values, our security and our model of society, Macron said. Yes, we must further invest to support Ukraine at a greater scale and in the long term, he added. Macron said he would travel to Ukraine by mid-March. Zelenskyy's stop in France comes after he met earlier in the day in Berlin with German

India resumes buying Russian Sokol oil after 2-month hiatus: Report

India did not receive Sokol oil in December and January, data from trade sources and the ship tracking data shows

India does not trust US; played smart by staying close with Russia: Haley

Aspiring Republican presidential candidate Nikki Haley on Wednesday said that India wants to be a partner with the US, but as of now they don't trust Americans to lead. The Indian-American presidential aspirant also said that New Delhi has played smart in the current global situation and stayed close with Russia. In an interview with Fox Business News, Haley, 51, said that as of now India sees the United States as weak. "I have dealt with India too. I have got to say, I have dealt with India too. I have talked with Modi. India wants to be a partner with us. They don't want to be a partner with Russia," she said. "The problem is, India doesn't trust us to win. They don't trust us to lead. They see right now that we're weak. India has always played it smart. They have played it smart, and they have stayed close with Russia, because that's where they get a lot of their military equipment," she said in response to a question. "When we start to lead again, when we start to get the weak

India's Russian oil import hits 12-mth low, long-term appetite intact

India's crude oil imports from Russia fell for a second straight month in January to its lowest in 12 months but the nation's insatiable appetite for Russian crude remains for the long term, according to data from energy cargo tracker and industry officials. Russia supplied 1.2 million barrels per day of crude oil to India in January, down from 1.32 million barrels in December and 1.62 million barrels in November 2023, according to data from energy cargo tracker Vortexa. Russia however continues to remain India's top oil supplier, accounting for a little less than a quarter of 4.91 million barrels a day of oil that the world's third largest energy consumer imported in January. The decline in cargoes from Russia was made up by increased sourcing from Iraq, which supplied 1.1 million barrels per day (bpd) in January, up from 985,000 bpd in the previous month. Supplies from Saudi Arabia declined to 659,000 bpd from 668,000 bpd in December. India is more than 85 per cent dependent on .

Domestic oil imports from Russia hit 12-month low in Jan as sanctions bite

Last year, India emerged as a top buyer of sea-borne Russian oil sold at a discount after Western countries halted imports following Moscow's invasion of Ukraine

State refiners may face margin pressure as cheap Russian oil imports dip

Reduction in discounted Russian supplies will affect gross refining margins, as cheaper crude contributes to the profits of Indian Oil, Bharat Petroleum and Hindustan Petroleum

Opec+ unlikely to decide oil policy on February 1, will wait several weeks

Oil prices have found support from more positive sentiment about demand this week and rising geopolitical tensions from attacks by the Iran-aligned Houthi group on Red Sea shipping

Almost all of Russia's oil exports this year shipped to China, India

Russia has successfully circumvented sanctions on its oil and diverted flows from Europe to China and India, which together accounted for around 90% of its crude exports

Payment woes delay supply of Russian Sokol oil crude to India: Report

IOC is the only state refiner that has an annual deal to buy a variety of Russian grades, including Sokol, from Russian oil major Rosneft. Sokol oil is supplied to IOC by Sakhalin-1 LLC

5 mn barrels of Russian oil gets stuck on tankers while en route to India

It's unclear what's holding the vessels up, but US sanctions on tankers hauling Russian crude in breach of a price cap imposed by the Group of Seven nations might be part of the cause

Russia to deepen oil export cuts in Dec by at least 50,000 barrels per day

Saudi Arabia and Russia, the world's two biggest oil exporters, called in December for all OPEC+ members to join an agreement on output cuts after a fractious meeting of the producers' club

India's Nov Russian oil imports hit 4-month high, up 3% from Oct: Report

Last month, India overall imported about 4.5 million bpd oil, a decline of about 4.5% from October and a growth of 13% over the same month last year, the data showed

BPCL plans to buy Venezuela oil; deal not to harm Russian imports: Official

"Our refineries are capable of processing Venezuelan oil and we have given our international trade (department) okay to buy it," Khanna said in an industry event

India's Russian oil imports seen rising on lower prices: Govt official

The Group of Seven large economies known as G7 and some other nations have imposed a ceiling of $60 per barrel for oil at Russian ports to cut Moscow's revenue seen as funding its war in Ukraine

India's oil imports from Russia rebound in November on Diwali demand

India has boosted purchases of Russian oil sold at a discount after imports from Russia were shunned by some Western countries following its invasion of Ukraine last year

Tankers newly sanctioned by US supplied Russian oil to India: Report

NS Century is currently on its way to discharge Sokol crude at Vadinar port in Gujarat for Indian Oil Corp (IOC) on Nov. 25, LSEG and Kpler data showed

Crude oil prices edge higher as IEA raises demand growth forecast

A US crackdown on Russian oil exports could also disrupt supply, supporting prices further.