Tag Archives: Russia

The first quarter of 2023 saw Kazakhstan ramp up oil exports bypassing Russia as the Central Asian country seeks to reduce its dependency on Moscow, data from industry sources and Refinitiv cited by Reuters showed. While Kazakh oil exports through the Caspian Sea and the Caucasus are relatively small, they …

India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations. That means the Kremlin is enjoying stronger revenues despite the West’s attempts to curb funds for Russia’s …

Last month, Russia managed to bring its crude oil exports back to pre-war levels. This is stated in the April report by the International Energy Agency, Ukrinform reports. “Russian oil exports in March soared to the highest since April 2020 thanks to surging product flows that returned to levels last …

Russian oil exports jumped to their highest level in almost three years in March despite Western sanctions, the International Energy Agency (IEA) announced on Friday, though Moscow’s oil revenues nevertheless dropped sharply from last year. Following Moscow’s invasion of Ukraine in February 2022, the West has imposed a slew of …

Despite sanctions, Russian oil exports jumped to their highest level in almost three years in March, however, revenues were down sharply from last year, the International Energy Agency said Friday, reported The Moscow Times. The West imposed a slew of sanctions against Russia since Moscow invaded Ukraine in February 2022, …

The Italian government has given conditional approval for the sale of a refinery owned by Russia’s Lukoil to a Cyprus-based private equity firm, Reuters has reported, citing unnamed sources in the know. The conditions set by the Italian government for buyer G.O.I. Energy include guarantees that no jobs will be …

India’s imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq – the nation’s traditional top oil supplier. But the purchases appear to have plateaued as growth has slowed. Russia continued to be …

Russia’s Energy Ministry said the nation reduced its oil output by about 700,000 barrels a day last month, according to a person familiar with the figures. Yet that figure is inconsistent with data on the nation’s March seaborne exports and supplies to domestic refineries — adding to the uncertainty over …

The increasingly closer relations between China and Russia and the Chinese push to make its currency more relevant on the global markets are challenging the dominance of the petrodollar. The U.S. dollar, which has been the currency of choice in oil trade since the 1970s, is still the dominant currency …

Russia remained Turkey’s top crude exporter in January, according to the statistics released by the Turkish Energy Market Regulatory Authority (EPDK) on Saturday, Trend reports citing TASS. The statistics say that 1.18 million tons of crude oil and petrochemical products were imported from Russia, followed by Iraq and Kazakhstan with …