Page 2 - Russia Oil Production

Large-scale Ukraine drone attack hits Moscow refinery, Russia fires back

The attack is the second in just a few days after a drone strike on Tuesday halted operations at the refinery

Democrat Senators ask Trump not to extend sanction waiver on Russian oil

Two Democratic Senators have urged President Donald Trump against granting any further exemption from US sanctions on the purchase of Russian oil, contending that there is no rationale for such a move, as the war with Iran is now over. In a statement here on Tuesday, Senators Jeanne Shaheen and Elizabeth Warren said the waiver from sanctions has only helped Russia finance its "illegal war" with Ukraine. In March, the US granted a sanctions waiver to India for the purchase of Russian oil in a bid to stabilise global oil markets as the war with Iran, which started on February 28, led to a sharp increase in crude prices. The sanctions waiver was later extended to other countries. The one-month exemption has been extended twice and expires on June 17. "Extending this license yet again would give Vladimir Putin another opportunity to reap windfall financial gains while he continues his brutal war against Ukraine," the two senators said. They said an extension would also clearly contrad

India's Russian oil imports rise in May as refiners boost purchases

India remained the world's second-largest buyer of Russian fossil fuels in May, importing an estimated 5.8 billion euros (USD 6.7 billion) worth of Russian hydrocarbons as refiners stepped up crude purchases from Moscow, European think tank Centre for Research on Energy and Clean Air (CREA) said in a report. Crude oil accounted for about 83 per cent of India's imports from Russia during the month, valued at 4.8 billion euros, while oil products and coal imports stood at 550 million euros and 429 million euros, respectively. "India's total crude import volumes recorded an 8 per cent month-on-month increase in May. This is partially explained by a 21 per cent month-on-month increase in Russian imports," CREA said. Some of India's largest refining hubs recorded notable increases in Russian crude arrivals. Unloaded volumes at the Vadinar refinery in Gujarat rose 36 per cent from April levels, while deliveries to the Jamnagar refining complex in the state increased 14 per cent. Accordin

Europe sold weapons used against India: Jaishankar defends ties with Russia

The External Affairs Minister further countered the criticism by drawing attention to Europe's historical and moral inconsistencies regarding global security dynamics

European Union mulls temporary freeze on Russian crude oil price cap

The EU is weighing a freeze on its Russian oil price cap as the West Asia conflict drives crude prices sharply higher ahead of a July review

India raises Russian crude oil and US gas imports in May, shows data

Imports of Russian crude oil rose to 1.92 million barrels per day till May 28

India's gains crimped as US changes terms in Russian oil waiver extension

Fresh US waiver terms may curb Russian oil supplies to India as sanctioned cargo availability shrinks and refiners face mounting geopolitical uncertainty

West Asia crisis: Russian oil waiver extension a huge relief, say experts

he US has extended sanctions waiver on Russian oil purchases till June 17, easing pressure on Indian refiners reliant on discounted crude imports

US issues 30-day general licence to provide access to Russian oil: Bessent

Treasury Secretary Scott Bessent says 30-day extension will help stabilise crude markets and support countries affected by Gulf supply disruptions

West Asia crisis: India to buy Russian oil despite US waiver lapse

India will continue purchasing Russian crude oil despite the expiry of the US waiver, while fuel retailers' under-recoveries have narrowed after the recent price hike

Russia expands LNG dark fleet with four tankers to ramp up Arctic exports

The developments mean that there are now at least 20 tankers being used to ferry LNG from sanctioned Russian projects

India's Russian oil supply likely to be hit if US waiver not extended

Under the latest US waiver, countries have been allowed to purchase Russian crude oil and petroleum products until May 16 that were loaded onto vessels on or before April 17

India seeks extension of US waiver on Russian oil as West Asia war drags on

The US first provided a green light in March, and then widened that with an authorization that runs until May 16, in an effort to limit rising oil prices with additional barrels

'Going to do whatever is necessary': Trump on Russian oil waiver amid war

The United States had eased sanctions on Russian oil in mid-March to counteract global oil shortages resulting from the closure of the Strait of Hormuz

India declines Russian LNG under US sanctions despite energy supply crunch

The stance highlights the fine balance the world's third-biggest oil importer and consumer is seeking ‌to strike between securing energy supplies and avoiding LNG cargoes under sanctions

Looming expiry of US sanctions waiver sets off scramble for Russia oil

Fears over the expiry of a US sanctions waiver pushed India's Russian oil imports to record highs as refiners raced to secure supplies

Crude oil may stay elevated despite UAE's decision to quit Opec: Analysts

The closure of Strait of Hormuz (SoH), analysts said, is the primary reason for this as oil supplies from this region remain curtailed.

US does not plan to renew Iranian, Russian oil waivers, says Scott Bessent

Treasury Secretary Scott Bessent said Friday that the US does not plan to renew a waiver allowing the purchase of Russian oil and petroleum products that are currently at sea. And, he said, a renewal of the one-time waiver for Iranian oil at sea is totally off the table. "Not the Iranians," Bessent told The Associated Press. "We have the blockade, and there's no oil coming out." "And we think in the next two, three days, they're going to have to start shuttering production, which will be very bad for their wells." Bessent's statements come as the world is on edge over the US-Israeli war in Iran, and global energy markets have been ensnarled by the closure of the Strait of Hormuz. The US originally issued a waiver for Russian oil sales and petroleum products in March with the intent of stabilising global energy markets after crude oil prices surged above USD 100 per barrel. The Treasury Department renewed the waiver two days after Bessent said at the White House that he had no plan

Oil flows via Druzhba pipeline resumes; EU to adopt new Russian sanctions

Hungarian oil group MOL said on Wednesday that Ukraine had informed it that deliveries of Russian crude had resumed through the pipeline

Ukraine hits Russia's Tuapse oil refinery again with drone strike

Russian officials said that a Ukrainian drone attack on Russia's Black Sea port of Tuapse sparked a fire and killed at least one person