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Articles with tag "Oil"

Russian Oil Firms Receive Nearly $10Bln in State Subsidies as Refinery Disruptions Mount

Analysts at Raiffeisenbank said the increase in compensation payments reflects growing difficulties in the refining sector.

Russian Urals Oil Returns to Discount as Asian Refiners Cut Purchases – Reuters

The discount marks a sharp reversal from April and May, when Urals crude traded at premiums of $7-$8 per barrel to Brent.
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Ukraine's Refinery Strikes Push Russian Crude Exports to Wartime High – Bloomberg

Repeated Ukrainian drone strikes on refineries have reduced domestic processing capacity and left more crude available for shipment abroad.
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Ukrainian Drone Attack Sparks Fire at Russian Oil Depot

Two people were wounded in an attack on Russia's fifth largest oil export hub in Novorossiysk, the local mayor said.
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Russia's 150M-Barrel Oil Delivery to Indonesia Faces Regulatory, Logistical Hurdles – Reuters

Shipping data shows almost no barrels have begun moving, leaving traders skeptical that the 150 million barrels could reach Indonesia by year-end.
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Drone Strikes Force Central Russian Refineries to Halt or Cut Output – Reuters

The combined annual capacity of refineries that have either fully halted or significantly reduced operations is nearly one-quarter of Russia’s total...
2 Min read

U.K. Loosens Russian Oil Sanctions Amid Soaring Energy Costs

A new trade license allows the U.K. to buy jet fuel and diesel refined from Russian crude oil in third-party countries.
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U.S. Extends Russian Oil Waiver for a Second Time

The temporary general license, which had been allowed to lapse over the weekend, is now effective until June 17.
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U.S. Allows Russian Oil Waiver to Expire Again

Sanctions experts said they expect the U.S. to either issue a short-term extension or grant specific exemptions to major Asian refineries.
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Russia’s Oil Export Revenue Saw Continued Growth in April, IEA Says

Revenue from crude and petroleum shipments rose to $19.18 billion, a modest increase of $180 million from the $19 billion recorded in March.
2 Min read

Second Japanese Refiner Buys Russian Oil Amid Global Supply Crunch

Idemitsu Kosan told TASS that the purchase was made at the request of Japan’s Agency for Natural Resources and Energy to “ensure a stable supply of...
1 Min read

Russia’s Oil and Gas Revenues Miss Expectations Despite Higher Crude Prices

Oil and gas revenues reached 2.3 trillion rubles ($30.82 billion) over the first four months of the year, down 38.3% year-on-year.
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Leningrad Region’s Kirishi Oil Refinery Halts Operations After Drone Strike – Reuters

Industry sources told Reuters that three of the refinery’s four crude distillation units and several secondary units were damaged in the attack.
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OPEC+ Hikes Oil Production Quotas Without Mentioning UAE Exit

Analysts had expected the increase of 188,000 barrels, similar to the 206,000-barrel daily increases OPEC+ in March and April.
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Japan Buys Russian Oil for the First Time Since Hormuz Closure

The Japanese refiner Taiyo Oil plans to receive the cargo through the Sakhalin-2 project in Russia’s Far East, the Mainichi newspaper reported.
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Russian Growth Outlook Darkens as Ukraine Hits Oil Infrastructure

CMAKP said hopes that surging global oil prices would give Russia’s economy a meaningful boost were unlikely to materialize because repeated attacks...
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Kremlin Hopes OPEC+ Will Stand Firm Despite UAE Exit

Moscow said it has no plans to withdraw from the organization, calling it “especially crucial when energy markets are in turmoil.”
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Kazakhstan to Reroute German Oil Exports Following Russian Pipeline Suspension

Kazakhstan’s energy ministry said crude will now move through the Baltic Sea port of Ust-Luga and a joint Russian-Kazakh oil pipeline.
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Feature

Black Rain, Toxic Air and Bird Deaths: Russian Black Sea Town Reels From Refinery Strike

The scene in Tuapse has turned apocalyptic in recent days after strikes on a local oil refinery sparked major fires and caused an oil spill.
4 Min read

Indonesia Says It Will Buy 150M Barrels of Russian Oil Amid Global Shortage

Around 20-25% of Indonesia's crude imports normally come from the Middle East and pass through the vital Strait of Hormuz.
1 Min read
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