Page 2 - Russia Oil Production

Indian refiners seek legal clarity on buying Russian oil under US waiver

The US on Thursday allowed Indian refiners a 30-day waiver from sanctions to buy Russian oil loaded on vessels as of March 5. Approval related to Russia's oil sale to India is valid until April 4

Russian Urals crude price tops Brent in India as Iran war tightens supply

The US-Israeli war against Iran, ​which began a week ago, has choked the Strait of Hormuz, the main route for global ‌oil

Iran war has driven surge in global demand for Russian energy, says Kremlin

The conflict, now in its seventh day, has left the Strait of Hormuz nearly shut, cutting countries around the world off from about a fifth of global oil and liquefied natural gas supplies

Indian refiners move quickly to buy Russian oil after US relaxes curbs

There's around 15 million barrels of Russian crude on tankers in the Arabian Sea and the Bay of Bengal, while vessels carrying another 7 million are idling near Singapore

HPCL resumes Russian crude oil purchases after three-month gap: Report

State-run HPCL resumes Russian oil purchases after a three-month gap, booking two discounted cargoes as Moscow's share in India's crude imports shows signs of rising again

From bakeries to salons, Russian firms struggle under wartime tax policy

Denis Maksimov's bakery in suburban Moscow became famous overnight after he appeared on President Vladimir Putin's annual call-in show in December. Standing in front of the bakery - called Mashenka, after his oldest daughter - he pleaded with Putin via video to look into new tax reforms that are significantly increasing the burden on small businesses like his. "We understand very well that it's not an easy situation for the country. We understand that raising taxes is necessary," Maksimov said. "We're looking ahead without optimism, frankly speaking. Many (businesses) will close down." As Putin's full-scale invasion of Ukraine marks four years, the mounting pressure on Russia's economy is starting to show. Oil revenues are dwindling, the budget deficit is up, and military spending that fueled robust growth has leveled off. The Kremlin is now tapping consumers and small businesses for funds. The value-added tax has been raised by 2% and revenue thresholds for requiring businesses to

Cuba-bound tanker carrying Russian fuels set to test Trump blockade

Pressure on Havana has been mounting since late last year, when US forces seized a ship carrying Venezuelan crude to Cuba

Got India's commitment to stop buying Russian oil: US Secretary of State

US Secretary of State Marco Rubio has said that India has committed to stop buying Russian oil, days after New Delhi reiterated that "national interests" will be the "guiding factor" for India's energy procurement. US President Donald Trump, while announcing a trade deal with New Delhi early in February, claimed India had agreed to not procure crude oil from Russia. Since then, the US has claimed multiple times that India will stop buying oil from Russia. Speaking at the Munich Security Conference on Saturday, Rubio said, "In our conversations with India, we've gotten their commitment to stop buying additional Russian oil." Rubio was responding to a question on the Russia-Ukraine war and the sanctions imposed on Moscow. After announcing the deal, in an executive order, Trump rolled back an additional 25 per cent tariffs on India that he imposed in August last for India's procurement of crude oil from Russia. Earlier, India had said that it would maintain multiple sources for crud

China could end Russia-Ukraine war with one call, says US Nato envoy

China and Russia have forged an even tighter partnership since the start of the war, and Russia relies on China for critical parts and components for drones and other war material

National interest is guiding factor: Vikram Misri on India's energy imports

Foreign Secretary Vikram Misri said India's energy import decisions are driven by national interest, diversification and price stability, amid scrutiny of Russian oil imports, global market volatility

How sanctioned oil travels the world through shadow fleets and fake flags

Recent Indian and US mid-sea operations have exposed a hidden system that allows sanctioned oil to bypass global restrictions through shadow tankers, false flags and offshore transfers

India's Russian oil imports likely to halve after White House trade order

White House said in order that 'India has committed to stop directly or indirectly importing Russian Federation oil,' and that import tariffs on all Indian goods may be raised if it resumes purchases

Indian Oil, HPCL buy 2 million barrels Venezuelan oil from Trafigura

New ‌Delhi has not officially announced plans to halt Russian oil imports

Indian refiners avoid Russian oil purchase in push for US trade deal

Indian Oil, Bharat Petroleum and Reliance Industries are not accepting offers from traders for Russian oil loading in March and April, said a trader who approached the refiners

Reliance sends 1st fuel to Europe since ban on Russian oil-derived products

The EU's ban on importing products produced from Russian crude is aimed at curbing oil revenues Moscow uses to fund the Ukraine war

Record discounts on Russian oil to China aim to lure demand as India wavers

Discounts for ESPO Blend, delivered from the Pacific port of Kozmino to China, widened to nearly $9 a barrel to ICE Brent this week, from $7-$8 in recent months

'Commercial viability key': MEA says open to Venezuela, other crude sources

The MEA said India is open to sourcing crude from Venezuela and other countries based on commercial viability, adding that energy security for 1.4 billion people remains its top priority

Kremlin says India's oil diversification 'nothing new' amid US trade deal

After India-US trade deal, Kremlin says India has always bought oil from many countries; Moscow sees India's plan to diversify oil supplies as nothing new or surprising

Falling Russian crude oil imports drag down pvt ports' growth to 2% in FY26

In comparison, central government-owned ports grew 9%

Replacing Russian oil likely to be a challenge for Indian refiners

Along with price discounts, India must replace around 1.7 million barrels per day of average Russian crude imports