Tag Archives: Russia

U.S. sanctions on the global operations of Russian oil heavyweights Rosneft and Lukoil enter into effect today, with some 48 million barrels of Rosneft and Lukoil crude on tankers that will now have to look for new destinations. Bloomberg reported the figures, citing Kpler data and noting that the cargoes—mostly …

Russian Novatek, the owner and operator of Arctic LNG and Arctic LNG 2, is offering steep discounts to Chinese buyers of energy commodities to move its gas, Reuters has reported, citing unnamed sources. According to these sources, the Russian company has slashed prices by between 30% and 40% since August …

All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Russia’s top oil producers, Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg on Tuesday. India’s refiners, which have come to rely on cheap Russian crude in the past three …

Two Indian refiners bought a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market as they seek alternatives to Russian crude. Reuters reported, citing unnamed industry sources, that Hindustan Petroleum Corp. had bought 2 million barrels of West Texas …

Sanctioned LNG vessels carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project are running into early winter ice on the Northern Sea Route and deliveries to China from the Russian export plant could drop off as temperatures in the Arctic plummet. The Buran vessel, which offloaded a cargo …

Chinese refiners are canceling Russian oil cargos and adopting a wait-and-see attitude after the latest U.S. sanctions on Russia’s oil industry. Bloomberg reports, citing traders, that state-owned majors including Sinopec and PetroChina had canceled previously ordered Russian oil cargos, while the so-called teapots, or independent refiners, had stopped buying Russian …

Some of Japan’s biggest utilities believe that they would be able to find alternative gas supply in case they are no longer able to import Russian LNG, executives said this week, following U.S. pressure that Japan and other U.S. allies stop imports of Russian energy. Japan imports Russian LNG from …

India’s biggest state-held refiner, Indian Oil Corporation (IOC), has acquired five December-arriving cargoes of Russian crude from non-sanctioned entities, trade sources told Reuters as India scrambles to replace sanctioned Rosneft and Lukoil deliveries. The U.S. sanctions Russia’s top two producers sent Indian refiners rushing to replace volumes from these exporters …

Oil India Limited (OIL), the state-owned oil and gas explorer, has $300 million in dividends from its stakes in Russian oilfields stuck at Russian banks and unable to withdraw, due to last week’s U.S. sanctions that hit the Rosneft-operated fields. The U.S. sanctions on JSC Vankorneft and Taas-Yuryakh Neftegazodobycha LLC …

Russia is preparing to launch a state-backed insurance company to cover oil and commodity exports along the Northern Sea Route, as Western sanctions continue to isolate its shipping and reinsurance sectors. The initiative, confirmed by several Russian media outlets including Izvestia and Neftegaz, is being developed with support from the …