Page 5 - Russia Oil Production

India's oil imports from US to rise, amid criticism for Russian purchases

India's oil imports from the United States will rise by 11% this year, officials said on Saturday, as the severely energy-deficient country looks to secure supplies from producers

US recognises 'reasoning' behind India buying Russian oil: Spokesperson

The US may show understanding of India's plans to buy discounted oil for economic reasons from Russia, US President Joe Biden's spokesperson Jen Psaki has indicated.

India believes legitimate energy deals must not be politicised: Report

Countries with oil self-sufficiency or those importing themselves from Russia cannot credibly advocate restrictive trading, say sources

Oil prices surge 8% amid warnings of Russian supply shortages

Oil prices climbed 8% on Thursday, extending a series of wild daily swings, as the market rebounded from several days of losses with a renewed focus on supply shortages

Top Headlines: Fed signals more hikes; India may import cheap Russian oil

The Federal Reserve on Wednesday raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year

UK wants every country to 'move away' from Russian oil: PM's spokesperson

The UK wants every country to move away from using Russian oil and gas because it directly funds President Vladimir Putin's war machine, British Prime Minister Boris Johnson's spokesperson said

India may import 15 million barrels of cheap Russian oil

Doesn't violate sanctions but on wrong side of history: US

IEA says 3 million bpd of Russian oil, products could be shut in next month

By Noah Browning

UK PM Boris Johnson calls on world to wean off Russian oil, gas

UK PM Boris Johnson declared a mission to build an international coalition against Russia and wean off dependence on its oil and gas exports in protest against the conflict with Ukraine

Japan imposes sanctions on 17 more Russians, including billionaire and MPs

Tokyo has also imposed sanctions on Russia's central bank and seven private banks, among other organisations.

Indian Oil buys 3 million barrels Russian Urals crude via tender: Report

IOC said in late February it would buy Russian oil on delivered basis to avoid any complication relating to fixing vessels and insurance

ONGC fails to get bids in its tender to sell Russian oil: Report

No Indian company has publicly withdrawn from Russia and New Delhi has declined to condemn Moscow's invasion of Ukraine despite pressure from the United States to do so.

Oil extends losses as Russia pledges to fulfil supply contracts

Oil prices settled about 2% lower on Thursday after a volatile session, a day after its biggest daily dive in two years, as Russia pledged to fulfill contractual obligations

Oil prices rises as market weighs OPEC filling Russia supply gap

Oil prices rose on Thursday following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia

Gas security a growing worry amid price rise and Russia's export dominance

Energy industry leaders said the burgeoning energy crisis is perhaps more dire for Europe's natural gas market than its crude oil imports, due to the continent's dependency on Russia

With sanction after sanction, future looks darker for Russia's oil industry

On Tuesday, President Biden announced a ban on Russian oil imports to the United States, a move aimed at further penalising Russia

Europe faces pressure to join boycott of Russian oil and gas

The 27-member European Union faces far more economic pain from the war and resulting sanctions than the U.S. true above all when it comes to the oil and gas that powers vehicles

Govt works out math of keeping Russia supplies open as oil prices spike

Even if Moscow relents and sells oil for rupees to India, European insurers may be reluctant to underwrite; in any case a bigger Russian tilt would involve a larger financial switch by New Delhi

Asia stocks rebound after Wall Street falls, US bans Russian oil import

Asian stocks rebounded Wednesday after Wall Street declined and China reported inflation edged higher. Already high oil prices rose further, adding more than USD 2 per barrel following President Joe Biden's ban on imports of Russian crude. Stock benchmarks in Shanghai, Tokyo and Sydney rose while Hong Kong declined. South Korean markets were closed for a presidential election. Wall Street's benchmark S&P 500 index sank 0.7 per cent amid enduring unease over the impact of Russian President Vladimir Putin's attack on Ukraine. Asian markets seem to be taking a breather from their sell-off, but Wall Street's retreat may drive some wait-and-see as geopolitical risks show no signs of easing, Yeap Jun Rong of IG said in a report. Also Wednesday, China's government reported consumer prices rose 0.6 per cent in February from the previous month while producer prices gained 0.5 per cent. The Shanghai Composite Index rose 0.6 per cent to 3,312.39 and the Nikkei 225 in Tokyo gained 0.9 to ...

Not all allies currently in position to join Russia oil ban: US official

The US admin said it consulted its European allies before banning the import of Russian oil and gas while stressing that it recogniSes not all of its partners were in a position to follow suit.