Russia Displaces Saudi Arabian Oil In India

Russia Displaces Saudi Arabian Oil In India

Russia’s share of the Indian oil market is growing at the expense of Saudi imports, Bloomberg has reported, noting Russian oil has been selling at a sizeable discount to Saudi crude. Russia became the second-biggest oil supplier to India in June, after Iraq, which remained the biggest oil supplier to the subcontinent. India and China … Read more

Russian Oil Exports Have Stabilized, Revenues Steady

Russian Oil Exports Have Stabilized, Revenues Steady

Russia’s oil exports appear to have stabilized, based on Bloomberg data released Monday showing a steady level of 500,000 barrels per day below the peak reached prior to the February invasion of Ukraine. Russian seaborne crude exports reached 3.5 million bpd in the week to July 29th, according to Bloombergwhile the four-week average shows about … Read more

China And India Are Buying Less Russian Crude

China And India Are Buying Less Russian Crude

Asian nations are letting up on discounted Russian oil exports, with Bloomberg data showing a 13% decline over the past four weeks as Chinese and Indian demand ease, chipping away at Russian oil revenues. China and India account for purchases of 55% of Russia’s seaborne oil exports; however, Chinese demand over the past four weeks … Read more

Novak: Russia Will Not Export Oil If Price Cap Is Below Production Cost

Novak: Russia Will Not Export Oil If Price Cap Is Below Production Cost

By Tsvetana Paraskova – Jul 21, 2022, 10:00 AM CDT Novak: Russia will not pump oil at a loss. The United States hopes that there will be an agreement on capping the price of Russian oil by December. Russia’s exports of crude and refined products held resilient in June. Russia will not supply oil to … Read more

Tanker Companies Race To Ship Russian Oil Ahead Of New Sanctions

Tanker Companies Race To Ship Russian Oil Ahead Of New Sanctions

Western sanctions have so far failed to crush Russia’s oil exports as Moscow is redirecting crude to its more than willing Asian buyers, China and India. European vessel owners, especially private Greek operators, are moving a lot of the Russian oil in the months before the EU ban on seaborne Russian oil imports kicks in … Read more

Can the G7 proposal for a cap on Russian oil prices work? | Business and Economy News

Can the G7 proposal for a cap on Russian oil prices work?  |  Business and Economy News

As military battles continue in the Ukraine war, the parallel skirmish over energy continues to escalate, with the West announcing plans for price caps to try and stem Russia’s soaring oil revenues directly financing its expansionist ambitions. The Group of Seven (G7), a group of the world’s richest Western nations, said at a recent summit … Read more

Who Is Still Buying Russian Oil And Gas?

Who Is Still Buying Russian Oil And Gas?

Despite looming sanctions and import bans, Russia exported $97.7 trillion worth of fossil fuels in the first 100 days since its invasion of Ukraine, at an average of $977 million per day. So, which fossil fuels are being exported by Russia, and who is importing these fuels? The infographic below, via Visual Capitalist’s Niccolo Conte … Read more

Russia To Take Over Whole Sakhalin-2 Project

Russia To Take Over Whole Sakhalin-2 Project

A newly set up state Russian company will take over the rights and obligations of Sakhalin Energy Investment Co., the joint venture running the Sakhalin-2 oil and gas project, Reuters reported today. This could mean a forced exit from the project for Shell and Japan’s Mitsui and Mitsubishi, which are minority shareholders in Sakhalin Energy … Read more

Canada Unlikely To Return Blocked Gazprom Turbine

Canada Unlikely To Return Blocked Gazprom Turbine

The Gazprom turbine that Siemens Energy took to a Canadian factory to repair and that Gazprom blamed for the reduced Nord Stream 1 flows is not coming back to Russia anytime soon, Canada’s Natural Resources Minister has reported. Speaking to Reuters, Jonathan Wilkinson said the turbine affair was likely to come up during the G7 … Read more