Page 2 - Russia Oil Production

India says sudden halt to Russian oil imports would hurt citizens

The European Union, the biggest buyer of Russian energy, on Wednesday proposed phasing out imports of Russian crude within six months and refined products by end-2022

India wants Russia to discount its oil to below $70 a barrel amid war

India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter

European Union to propose phasing out Russian oil by the end of the year

The EU will also push for more banks from Russia and Belarus to be cut off from the international payment system SWIFT, including Sberbank, said the people

EU leans towards ban on Russian oil imports by year-end, say diplomats

The European Union is preparing a sixth package of sanctions against Russia over the invasion just over two months ago of Ukraine

Russia's weaponisation of oil could backfire by destroying demand for it

Oil is a fungible commodity in a global market: If one source cuts off shipments, importing countries can just buy more oil from other suppliers, although they may pay higher prices on spot markets

We've to look after our interests: Hardeep Puri on oil trade with Russia

Petroleum Minister Hardeep Singh Puri on Friday said India imports a very small portion of its oil requirements from Russia and was open to buying it if the terms were right

Indian refiners negotiating 6-month deal with Russia to import oil: Report

India has already bought more than twice as much crude from Russia in the two months since its invasion of Ukraine on Feb.

Centre asks state-run companies to consider buying Russian oil assets

Oil ministry also asked OVL, the overseas investment arm of Oil and Natural Gas Corp, to consider buying a 30% stake held by Exxon Mobile Corp, in the Sakhalin 1 project in Russia's Far East

Ukraine war: Germany says now ready to stop buying Russian oil

In Germany, Chancellor Olaf Scholz said on Thursday that preparations to limit Germany's exposure to Russian energy imports were underway even before President Putin ordered the invasion of Ukraine

Why Bulgaria and Poland can withstand Russia cutting off their gas supply

By cutting off gas supplies, Russia has landed its latest economic blow against Poland and Bulgaria. But with international support, it is a blow that can be withstood.

Germany top buyer of Russian energy since Ukraine war began: Report

Using data on ship movements, real-time tracking of gas flows through pipelines and estimates based on historical monthly trade, the researchers reckoned Germany paid Russia about 9.1 billion euros

Oil prices dip as Europe turns away from Russian oil, dollar soars

Oil prices dipped on Wednesday as a soaring dollar made barrels more expensive and Europe's biggest economy Germany was speeding up plans to wean itself off Russian oil

Russia says it's cutting gas to 2 European Union nations in escalation

Russia decided to shut off gas to two European Union nations that staunchly back Kyiv

ONGC struggling to move Russian oil to Asia as sanctions bite: Report

Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine

Ukraine war reminder that dependency on Russian fuels unsustainable: EU

The European Commission President said the energy policy has become the security policy as well

The biter bit: The sanctions on Russia are beginning to hurt buyers now

All things considered, might it have been better and cheaper, shed less blood, and avoided a huge refugee problem if Russia had been allowed a buffer zone in Eastern Europe, wonders T N Ninan

Oil prices rise as investors focus on lower supply from Russia, Libya

Analysts said market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil for its invasion of Ukraine

Oil prices settle mixed amidst Russia supply, demand concerns

The front-month WTI crude futures contract, which expires on Wednesday, rose 19 cents to settle at $102.75, unchanged

Ukraine war: France trying to convince EU to impose embargo on Russian oil

France is trying to convince its EU partners to impose an embargo on oil supplies from Russia to undermine its ability to finance its special military operation in Ukraine, French Minister Le Maire sa

Zelenskyy: Russian oil ban key step to peace, seeks support from countries

Ukrainian President Volodymyr Zelenskyy said Friday that existing sanctions on Russia are painful but not yet enough to stop the Russian military.