Page 17 - Russia Oil Production

India's Russia oil imports fall to 7-mth low, Saudi jumps, shows trade flow

Refiners in India have been snapping up discounted Russian oil after some Western buyers shunned purchases over Russia's full-scale invasion of Ukraine in February last year

India's Russian crude imports decline sharply in Aug to lowest in 7 months

Shipments of Russian oil to India dropped to 1.6 million barrels per day (bpd) in August from 2.1 million bpd in July, the steepest month-on-month drop

India will buy oil from anyone who offers lowest prices: Hardeep Singh Puri

India, the world's third-biggest oil importer and consumer, gets more than 80% of its oil from overseas

Blood and billions: Here's a look at the cost of Russia's war in Ukraine

Russia's expenditure on the war is a state secret, but it coincides with a major shock to the Russian economy from the toughest ever Western sanctions imposed after the invasion

July Russian oil imports dip; Saudi import down to 2-1/2-yr low: Trade data

India's overall imports also declined 5.2% from June to 4.4 million bpd oil in July, the data showed, as several refining plants are shut for maintenance during monsoon season

Indian purchases of Russian crude slump by record 25% in August

Shipments of Russian oil to India dropped to around 1.5 million barrels per day (bpd) in the first 12 days of August from around 2 million bpd in entire July, according to data

India's Russian crude oil buying spree continues even as prices climb

India's consumption of Russian crude has soared since last year, with the country becoming a leading supplier, ousting Saudi Arabia and Iraq from the top spots

Russia intercepts drones heading for Moscow; no casualties, damage reported

Russian air defence systems on Thursday shot down two drones heading toward Moscow for the second straight day, officials said, with the attack disrupting flights at two international airports as Ukraine appeared to step up its assault on Russian soil. One drone was downed in the Kaluga region southwest of Moscow and another near a major Moscow ring road, according to Moscow Mayor Sergey Sobyanin and the Russian Defence Ministry, which blamed the attack on Ukraine. No casualties or damage were immediately reported. Domodedovo airport, south of the city, halted flights for more than two hours and Vnukovo airport, southwest of the city, stopped flights for more than two and a half hours and redirected some incoming aircraft to other airports, according to Russian news agencies. It wasn't clear where the drones were launched, and Ukrainian officials made no immediate comment. Ukraine usually neither confirms nor denies such attacks. Firing drones at Moscow after more than 17 months o

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Obscure traders ship half of Russia's oil to India, China after sanctions

The new owner of the 100,000 tonnes of Urals crude carried on the Leopard I was a similarly low-profile outfit, Guron Trading, also based in Hong Kong, according two trading sources

Oil prices up on China economic support pledge, tighter Russian supply

Brent futures rose 9 cents, or 0.1%, to $79.72 a barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude was steady at $75.75 per barrel

As Russian discounts erode, Indian oil refiners may shift back to the Gulf

Iraq and UAE are willing to offer credits for longer periods of time, and they are also located closer to the Indian shores

India may prefer Middle East crude as Russian oil becomes costly: Report

India and China have been the two dominant buyers of Russian crude since the invasion of Ukraine more than a year ago after the war prompted other countries to shun the OPEC+ producer

Indian refiners used Chinese yuan to pay for some Russian oil imports

The official also said the Reserve Bank of India will release guidance for banks in two to three days to resolve some teething issues on the rupee trade mechanism

India faces complex payment situation as Russian oil tops $60/barrel cap

India used to pay in dollars, however, this is no longer possible as the price exceeds G7 nations' fixed cap, and Russia is not keen on accepting the Indian rupee

Russia oil discount to India shrinks to $4, delivery charges remain opaque

The steep discounts on Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain 'opaque' and higher than normal, sources said. Russia bills Indian refiners at a price shade less than the USD 60 per barrel price cap imposed by the West but charges anything between USD 11 to USD 19 per barrel, twice the normal rate, for delivery from the Baltic and Black Sea to the west coast, three sources with knowledge of the matter said. The USD 11-19 per barrel shipping costs from the Russian ports to India - some of it on the 100+ tankers reportedly acquired by Russian actors for a shadow fleet - are higher than rates for comparable distances, such as a voyage from the Persian Gulf to Rotterdam. Following Moscow's invasion of Ukraine in February last year, Russian oil was sanctioned and shunned by European buyers and some in Asia, such as Japan. This led to Russian Urals crude being traded at a disco

Saudi Arabia and Russia are cutting oil supply again in bid to boost prices

Russia will reduce its oil exports by 500,000 bpd in August; Saudi said it would extend its cut of 1 mbpd till August

Indian refiners start yuan payments for Russian oil imports: Report

China has also shifted to the yuan for most of its energy imports from Russia, which overtook Saudi Arabia to become China's top crude supplier in the first quarter this year

Slight pause: India's crude oil imports from Russia decline in June

India paid around $70 per barrel in May for Russian crude on a delivered basis, according to Indian Customs data

Indian OMCs confident of retaining discounts on Russian crude oil

Before the war in Ukraine, Indian refiners had bought Russian oil rarely due to the high freight costs involved