Tag Archives: Russia

China’s crude oil imports from Russia rose 8.6 per cent in April from a year earlier, as larger private refiners also embarked on purchases of the discounted fuel. Arrivals from Russia – including seaborne shipments and supplies via pipelines – totalled 7.1 million tonnes or 1.73 million barrels per day …

Russian President Vladimir Putin said on Wednesday, May 17, that oil production cuts were required to maintain a certain price level, contradicting assurances from other leaders of the OPEC+ group of producers that it was not seeking to manage the market in that way. The United States and Europe have …

Tehran and Moscow have made progress regarding the participation of Russian companies in new oil and gas projects in Iran, Russian Deputy Prime Minister Alexander Novak said during talks with Iranian Oil Minister Javad Owji. “We are implementing projects to develop oil fields in Iran and have outlined new projects, …

The Group of Seven (G7) and EU countries intend to ban the import of pipeline gas on routes where Moscow has previously cut supplies as part of the 11th package of sanctions against Russia. Azernews reports that the ‘Financial Times’ newspaper has published information about this with reference to the …

The European Union is considering formally banning Russian crude flows via the Druzhba pipeline to Germany and Poland, which have already stopped importing Russia’s crude, Bloomberg reported on Friday, citing documents it has seen. The Druzhba pipeline is a key artery of oil supply from Russia to Europe. It has …

Libya and a Russian oil company announced a new discovery on Thursday. Libya’s state-owned National Oil Corporation and Tatneft said they discovered the oil in the Ghadames basin 330 kilometers (205 miles) south of the capital Tripoli at a depth of 8,500 feet. The amount of oil that can be …

Pakistan has placed an order for a single cargo of Russian oil, but is keen for a long-term deal to buy the crude in Chinese currency, according to the country’s power minister. The payment for the first shipment has been made in US dollars but Pakistan would like further purchases …

The European Commission has proposed to EU member states to consider trade restrictions on companies from China, Hong Kong, the UAE, Uzbekistan, and Armenia which are thought to be helping Russia obtain technology for its military and industrial complex, Bloomberg reported on Monday, quoting draft proposals it had seen. The …

Despite having access to the Naftoport-Polish oil port in Gdańsk, the German side has not yet completely removed Russia’s stake from Germany’s Schwedt Refinery. On May 3, Germany’s “Task Force PCK,” which is dealing with the situation of the Schwedt Refinery (PCK), met for the fourth time. Task Force PCK …

Chinese refiners are ramping up purchases of Russia’s Urals crude–the mainstay of India’s Russian oil imports–leading to competition between the two Asian neighbours, which, among other factors, could result in New Delhi’s oil imports from Moscow peaking as early as this month. In April, India’s import of Russian crude set …