Tag Archives: russian oil

The Russian Congress Fund said on Monday that Russia’s United Oil and Gas Chemical Company and China’s Shanyuan Industrial Development Company have agreed to pump joint investments worth five billion yuan ($686 million) to build an oil shipping complex in Russia’s far east. The complex will facilitate the export of …

The Russian Central Bank raised the interest rate by about 100 basis points to 13% levels, contradicting expectations of its stabilization. According to the decision issued today, Friday, September 15, the bank indicated that inflationary pressures are still high, that the growth of domestic demand has exceeded the capacity to …

Russian Energy Minister Nikolai Shulginov was expected to decline by 1.5 percent to 527 million tons (10.54 million barrels per day) this year from 535 million in 2022, Izvestia newspaper reported, citing Russian Energy Minister Nikolai Shulginov on Wednesday. Russia, the second largest oil exporter after Saudi Arabia, has stopped …

Russian President Vladimir Putin said on Tuesday that rising inflation rates forced the central bank to raise interest rates to 12 percent last month, warning that the Russian economy would suffer if prices were allowed to get out of control. “In the event of high inflation, it will be practically …

The price of natural gas tried to climb above $2.85. Trading speculation that Saudi Arabia and Russia might extend their voluntary production restrictions caused WTI oil to rise. The price of Brent oil increased as the oil markets as a whole rallied. As traders react to the EIA report, which …

India’s Oil Minister, Hardeep Singh Puri, told the media that his country would buy oil from all available sources at the “lowest possible prices”. India has been buying crude oil from Russia, now its biggest supplier, at discounts since the West imposed restrictions on imports from Moscow following its invasion …

Shipping data from commercial and industrial sources showed that India’s imports of crude oil from Russia fell in July for the first time in nine months, and shipments from Saudi Arabia fell to the lowest level in two and a half years after production cuts from OPEC +. China and …

The G7 oil price cap has been evaded by Russia’s oil exporters, resulting in an extra $1.2 billion in extra shipping costs for oil shipments to India alone. The cap targets G7-based insurers, brokers, and other service providers, allowing Western governments to cut back on Russia’s income without affecting the …

Argentina has made a $2.7 billion payment on its debt to the International Monetary Fund in June, with $1 billion coming from its stockpile of Chinese yuan and the rest consisting of IMF special-drawing rights. This unprecedented step underscores the dire situation of the Argentine economy and the increasing relevance …

According to the Kommersant business daily, Russian oil companies have seen a 37% surge in fuel exports from January 1 up till May 30 despite the Western sanctions led by Washington over the war in Ukraine. The publication cited an unidentified source familiar with the data. The January-May 2023 gasoline …