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Swiss Commodities Giant Glencore Sells Off RussNeft Stake

Glencore first invested in RussNeft in the early 2000s, playing a role in the company’s development at a time when Russia’s oil sector was rapidly...

Russian Economic Officials Brace for Lowest Oil Prices Since Pandemic

The Economic Development Ministry has reduced its 2025 forecast for the average price of Urals crude to $56 per barrel, its lowest level since 2020.

Estonia Says Russian 'Shadow Fleet' Tanker Can't Sail Without Resolving 40 Deficiencies

Estonian transport authorities said Saturday they won't allow the Kiwala oil tanker to pursue its journey until it has resolved 40 legal and safety issues...

In First, Estonia Detains Russian 'Shadow Fleet' Tanker

The Kiwala, which is under Western sanctions, was intercepted as it was heading for the Russian port of Ust-Luga.

Russian Central Bank Warns Falling Oil Prices Could Squeeze Budget

“The risks are there,” Central Bank chief Elvira Nabiullina told lawmakers, adding that Russia “always prepares for such risks.”

Russia's Oil and Gas Revenues Fall 17% Year-on-Year in March

Moscow collected approximately 230 billion rubles ($2.7 billion) less in levies, which account for one-third of its total revenue, compared to March 2024...

Russia Using Crypto in Chinese and Indian Oil Trade – Reuters

While transactions supported by crypto are still a small part of Russia’s overall oil trade, they are reportedly growing.

Kazakh Oil Exports Expected to Drop After Ukrainian Drones Attack Pipeline in Southern Russia

Russia’s state pipeline operator Transneft said repair work on the pipeline could take two months, with exports from Kazakhstan falling by 30%.

Russian Oil and Gas Budget Revenues Up 17% Year-on-Year

The increase comes despite the Biden administration tightening sanctions on Russia’s oil and gas sector last month.

Russia Probes Explosion on Oil Tanker

Russian officials said "an explosion took place in the engine room" of the Koala ship in Ust-Luga port west of St. Petersburg on Sunday morning.

China and India Halt Russian Oil Purchases for March – Reuters

Offers for ESPO Blend crude supplies to China in March rose to premiums of $3 to $5 per barrel above Brent Crude.

Czech Republic Finishes Pipeline Extension, Ending Reliance on Russian Oil

“Russia can no longer blackmail us, and we have a guarantee that we can completely supply ourselves with oil from the West,” Prime Minister Petr Fiala...

Dozens of Tankers Carrying Russian Oil Stuck Idling After U.S. Sanctions

At least 65 oil tankers were stationary in waters near Russia, off Singapore’s coast and near Chinese ports, ship tracking data showed.

U.S., U.K. Unveil Sweeping Sanctions Against Russia’s Oil Sector

Russian oil majors Gazprom Neft and Surgutneftegaz were both targeted in the new sanctions package, along with Moscow’s “shadow fleet.”

India, Russia Agree Biggest-Ever Oil Deal – Reuters

The deal comes as the EU has just agreed on its 15th sanctions package against Moscow.

Poland Discovers Leak in Russia-Germany Oil Pipeline

Polish operator PERN discovered similar leaks in 2022 and 2023.

Russia’s Transneft to Slash Investments Following Corporate Tax Hike

Lawmakers in the lower-house State Duma passed a bill raising Transneft’s corporate tax from 20% to 40% in 2025-2030.

Russian Oil Refineries Risk Closure Amid Mounting Losses – Reuters

“We expect that the actual [plant] closures may take place at the beginning of next year,” an anonymous source familiar with the matter told Reuters...

Russia to Explore Mega Oil Merger – WSJ

The deal, combining Rosneft, Gazprom Neft and Lukoil would create the second-largest oil producer in the world.

G7 Agrees New Steps to Curb Russian Sanctions Evasion

The G7 finance ministers also said they would take additional measures aimed at "increasing the costs to Russia of using the shadow fleet to evade sanctions...

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