Tag Archives: Russia

The Russian government is considering lowering the oil price level above which it sends the proceeds to its wealth fund as the Kremlin’s oil and gas revenues are plummeting with widening discounts and key buyers like India pulling out of the spot market. Under the so-called budget rule, Russia had …

Russia’s pipeline operator Transneft has cut crude intake into its system by roughly 250,000 barrels per day after damage at the Kaleykino pumping station in Tatarstan, according to Reuters sources. Kaleykino is a key blending and dispatch hub that can pump about 1 million bpd and feeds crude into the …

The surge in Russian crude sales in China and the simultaneous drop in Indian demand for Russia’s oil have prompted Moscow to turn to using a larger fleet of supertankers—vessels capable of carrying 2 million barrels of crude. In recent weeks, several smaller tankers that left Russia’s Western ports transferred …

Russia is exporting crude oil at rates higher than before its 2022 invasion of Ukraine and the barrage of Western sanctions that followed it, many targeting specifically the oil industry. Four years after those events, Russia is exporting oil at 6% higher levels than before that, Finland-based think tank Centre …

A jump in China’s crude oil imports from Russia is more than compensating the withdrawal of the Indian refiners from spot Russian purchases, according to tanker-tracking data compiled by Bloomberg. So far in February, deliveries of Russia-origin cargoes at Chinese ports have averaged 2.09 million barrels per day (bpd), up …

China’s oil imports from Russia are on track for all-time high of over 2 million barrels per day in February as India is withdrawing from Russian spot purchases and supply is now heavily discounted for Chinese independent refiners. China is set to import 2.07-2.08 million barrels per day (bpd) of …

As a part of the United States’ push to revitalize its aging nuclear energy sector, the Department of Energy is funding a wave of research into recycling used nuclear fuel. This move comes as a part of a broader effort to increase the United States’ energy independence by reducing reliance …

Russia plans to send soon oil and oil products to Cuba as part of humanitarian aid, the Russian embassy in Cuba told Russian media on Thursday. Cuba’s worsening economic and humanitarian situation has gone from bad to worse in recent weeks as the U.S., which now controls Venezuela’s oil sales, …

Russia and Iran want to sign a number of agreements on trade and economic cooperation at a meeting of the Russian-Iranian intergovernmental commission scheduled for February 16-18 in Tehran, the Russian Energy Ministry says. Following a meeting between Energy Minister Sergey Tsivilev and Iran’s ambassador to Russia, Kazem Jalali recently, …

India’s largest state-owned refiner, Indian Oil Corporation (IOC), has boosted purchases of crude oil from ?West Africa and the Middle East, as New Delhi steers clear of Russian crude in the wake of the trade deal with the United States. Indian Oil has acquired six million barrels of Middle East …