Page 25 - Russia Oil Production

Oil rises on US inventory drop, Russian gas cuts as Fed decision looms

LONDON (Reuters) -Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike.

Russia's Gazprom cuts gas through Nord Stream 1 to 20% of full capacity

Russia's Gazprom on Wednesday halved the amount of natural gas flowing through a major pipeline from Russia to Europe to 20% of capacity. It's the latest reduction to Nord Stream 1 that Russia has blamed on technical problems, but Germany calls a political move to sow uncertainty and push up prices amid the war in Ukraine. The Russian state-controlled energy giant announced Monday that it would carry out the reduction citing equipment repairs, further raising fears that Russia could cut off gas completely to try to gain political leverage over Europe as it tries to bolster its storage levels for winter. Data on the Nord Stream website and the head of Germany's network regulator, Klaus Mueller, confirmed the reduction. Gas is now a part of Russian foreign policy and possibly Russian war strategy, Mueller told Deutschlandfunk radio. Prices surged to the highest levels since early March for natural gas, which is used to power industry, generate electricity and heat homes in the ...

Top Headlines: 5G spectrum bids on Day 1, IMF cuts India's GDP forecast

The opening day of the biggest telecom auction in the country ended with top telecom firms buying spectrum worth more than Rs 1.45 trillion across frequency bands including 5G

China facing stiff competition for its favourite Russian oil from India

India has ramped up purchases of crude from Russia's far east, a grade that's typically favored by Chinese oil refiners

Can Europe live without Russian natural gas: What we know so far

Europe faced an energy crisis even before drama emerged about the Nord Stream 1 pipeline reopening from Russia to Germany. While natural gas started flowing again Thursday after the major pipeline shut down for 10 days of maintenance, Europe will still struggle to keep homes warm and industry humming this winter. That is because Russia has already slashed Europe's amounts of natural gas used to power factories, generate electricity and heat homes in the winter, and Russian President Vladimir Putin has warned they could keep dwindling. Deliveries through Nord Stream 1 were cut by 60% before annual repairs began and were expected to stay well below the pipeline's full capacity. Government officials had feared the pipeline may not reopen at all, saying Putin is using energy for political leverage in his confrontation with the European Union over the war in Ukraine. Here are key things to know about Europe's energy crisis: DID RUSSIA CUT OFF GAS TO EUROPE? It has reduced supplies ...

The West digs for the next energy battle

The 11-nation partnership to secure critical mineral supplies has the potential to influence future investments and trade flows in energy

World shares hit 3-week high as recession fears ease, dollar hovers low

World shares hit a three-week high on Wednesday as strong US corporate earnings and the expected resumption of Russian gas supply to Europe allayed fears of a recession

Russia seeking payments for oil exports from India in dirhams: Report

Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed

Gazprom declares force majeure on at least three European gas buyers

Gazprom has been delivering less gas than ordered by customers over the past month, with the company citing problems with turbines at its main pipeline to Europe that ends in Germany

Oil back above $100 on Russian gas supply jitters, weaker US dollar

Russian gas export monopoly Gazprom declared force majeure on gas supplies to Europe to at least one major customer, potentially ratcheting up the continent's supply crunch

US talks with India on price cap on Russian oil 'encouraging': Yellen

A senior Treasury official said India had made no promises on the oil price cap, but was working with the United States and had not "expressed hostility to this idea".

We could ban Russian fuel imports six months ahead of deadline: EU official

The EU has been reducing imports of Russian oil products since March, after Moscow sent thousands of troops into Ukraine, and agreed a full ban from February 2023

US, allies aim to cap Russian oil prices to hinder Ukraine invasion

The Kremlin's main pillar of financial revenue oil has kept the Russian economy afloat despite export bans, sanctions and the freezing of central bank assets

US to urge India, Japan to back its plan for cap on Russia oil price

The strategy, raised among Group of Seven leaders last month, is to limit the revenue Moscow earns from oil exports without driving Russian cargoes off the global market

Euro flirts with parity as Russian gas link enters planned shutdown

Euro rates survived above paity against the dollar over Russian gas prices due to one of the biggest pipeline being shutdown.

Canada to release equipment for Russia-Germany natural gas pipeline

Canada will grant a time-limited and revocable permit for Siemens Canada to allow the return of repaired Nord Stream 1 turbines to Germany: Canada's minister of natural resources

Ukraine war: India, China buy Russian oil and gas worth $24 bn in 3 months

China spent $18.9 billion on Russian oil, gas and coal in the three months to the end of May, almost double the amount a year earlier, latest customs data show

Russia may be India's biggest crude supplier in June, a historic first

Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude

G7 set to back pursuing Russian oil price cap, tariff hikes due to Ukraine

The Group of Seven economic powers are set to announce an agreement to pursue a price cap on Russian oil, aiming to curb Moscow's energy revenues, a US official said

G7 countries weigh Russia oil-price cap via insurance, shipping ban: Report

President Vladimir Putin's invasion of Ukraine and its economic fallout are the key topics under discussion at a three-day summit under way in the Bavarian Alps