Page 22 - Russia Oil Production

Oil prices steady as dollar slumps, Russian oil products ban looms

Oil prices were steady on Thursday after tumbling in the previous session as a weaker dollar boosted sentiment, though looming sanctions on Russian oil products added uncertainty over supply

India imported more Russian crude oil than ever in January, shows data

India imported between 1.27 to 1.42 million barrels of Russian crude per day, which made up 28% of India's supplies in January, the highest ever

Oil steadies after falling on rate hike worries, Russian crude flows

Brent crude futures gained 28 cents to $85.18 per barrel by 0155 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 9 cents to $77.99

GAIL Q3 net falls 92% to Rs 246 cr on higher prices, Russian gas disruption

Despite the hit to profits, revenue from operations rose to a record Rs. 1.11 trillion in the first nine months of FY23

India's crude imports hit 5-month high in December on cheap Russian supply

Russia continued to be the top oil supplier to India in December, shipping a record 1.25 million barrels per day (bpd)

Pak to pay for Russian oil in currencies of 'friendly countries': Official

Pakistan will pay for energy purchases from Russia, when they start in late March, in currencies of friendly countries, a top energy official said on Friday. The development came at the conclusion of the 8th session of the Pakistan-Russia Inter-Governmental Commission (IGC) on trade, economic, scientific, and technical cooperation led by Ayaz Sadiq, Pakistan Minister for Economic Affairs, and Nikolay Shulginov, Russian Energy Minister, from respective sides between January 18 and 20 here. Shulginov, in a joint statement read out before the media, said Islamabad would pay for energy purchases in currencies of friendly countries, adding that the two countries agreed in late March as the timeline for crude oil export to cash-strapped Pakistan. The friendly countries were not named but likely include China which has close ties with both Pakistan and Russia. The two sides worked under the guidance of Prime Minister Shahbaz Sharif and President Vladimir Putin and took the opportunity to

Russia's oil output up 2% in 2022 despite sanctions, says Prez Putin

"The volume of production amounted to 535 million tons," he said

India now buying 33 times more Russian oil than a year earlier

The country is now easily India's biggest source of oil after overtaking Iraq and Saudi Arabia several months ago.

Refining troubles: Huge sanctions looming for fuel that powers the world

India's role in supplying Europe is notable because it has become one of the biggest buyers of discounted Russian crude since the war broke out

India's Russian oil imports cross 1 million barrels a day in December

India's import of crude oil from Russia increased further in December 2022, topping 1 million barrels per day for the first time ever as Moscow remained its top oil supper for the third month in a row, according to data from energy cargo tracker Vortexa. Russia, which made up for just 0.2 per cent of all crude oil India imported in the year to March 31, 2022, supplied 1.19 million bpd in December. This was higher than 909,403 bpd crude oil India imported from Russia in November and 935,556 bpd in October 2022. The previous record for most crude oil imports from Russia was in June 2022 when India bought 942,694 bpd, according to Vortexa. Russia, which in October 2022 for the first time surpassed traditional sellers Iraq and Saudi Arabia to take the No.1 spot, now makes up for 25 per cent of all oil imported by India. The imports peaked as a price cap was agreed upon by the EU on Russian seaborne oil. Russian oil is available at much lower than USD 60 per barrel cap agreed, industry

Where will Europe get its diesel from after Russia is banned in 23 days?

The fuel is vital to the bloc's economy, powering cars, trucks, ships, construction and manufacturing equipment and more

EAM defends India's move to import Russian oil; says Europe imports more

External Affairs Minister S Jaishankar has defended India's move to import crude oil from Russia notwithstanding the growing disquiet over it by Western powers, saying that Europe has imported six times the fossil fuel energy from Russia than India has done since February 2022. Jaishankar, who arrived here from Cyprus on the second leg of his two-nation tour, also said that if the European political leadership would like to soften the impact of the ongoing Russia-Ukraine conflict to their population, it's a privilege they should extend to other political leaderships as well. "Europe has managed to reduce its imports while doing it in a manner that is comfortable. If at a (per capita income) of 60,000 euros, you are so caring about your population, I have a population at USD 2,000. I also need energy, and I am not in a position to pay high prices for oil," Jaishankar said during an interview to Austria's national public broadcaster ORF on Monday. Jaishankar also pointed out that Euro

Russia retaliates on oil price cap as eastern Ukraine sees heavy fighting

The price cap, unseen even in the times of the Cold War between the West and the Soviet Union, is aimed at crippling Moscow's military efforts in Ukraine - without upsetting markets

Oil rises on uncertainty over Keystone pipeline restart, Russian supplies

Oil prices rose more than 1% in early Asian trade on Monday as a key Canada-United States crude pipeline stayed shut

Russia remains India's top oil supplier for second month in a row in Nov

Russia has for the second month in a row remained India's top oil supplier in November, surpassing traditional sellers Iraq and Saudi Arabia, according to data from energy cargo tracker Vortexa. Russia, which made up for just 0.2 per cent of all oil imported by India in the year to March 31, 2022, supplied 9,09,403 barrels per day (bpd) of crude oil to India in November. It now makes up for more than a fifth of India's oil supplies. According to Vortexa, an energy intelligence firm, India imported 8,61,461 bpd of oil from Iraq in November and 5,70,922 bpd from Saudi Arabia. The United States was India's fourth largest supplier at 4,05,525 bpd. India's imports from Russia in November were lower than the volumes bought in October. India's appetite for Russian oil swelled ever since it started trading on discount as the West shunned it to punish Moscow for its invasion of Ukraine. As per Vortexa, India imported just 36,255 barrels per day of crude oil from Russia in December 2021, .

Putin says Russia may cut its oil output in response to G-7 price cap

A decision on Moscow's response to EU price cap will be announced in a presidential decree within the next several days, says Putin

European sanctions on Russian oil lead to a traffic jam on Turkey's coast

The government in Ankara is insisting the ships have a letter from their insurer guaranteeing cover while in Turkish waters -- something that's yet to happen

LIVE news: Days after AIIMS, hackers attacked top medical body ICMR

Catch all the latest news and updates from around the world here

Oil prices rise today after price cap on Russian crude, OPEC+ meeting

Oil prices edged higher after a G7 price cap on Russian seaborne oil came into force on Monday on top of a European Union embargo on imports of Russian crude by sea

Rupee skids 48 paise as corporates, oil firms rush to buy dollars

Domestic unit has shed over 9% versus the greenback so far in 2022; latest weakness came despite softer dollar index and strength in Asian currencies, led by a firm Chinese yuan