Source link A Ukrainian maritime traffic watchdog has flagged a German-operated tanker, claiming that it had likely delivered Russian petrol products to Naval Station Norfolk, a major US military base, in an apparent violation of Washington’s sanctions. The allegation, which was widely reported by Ukrainian media on Thursday, comes from Andrey Klimenko, head of the […]
Source link Moscow is maintaining control over its crude shipments and progressively increasing the prices, the outlet says Russia’s monthly revenues from oil exports are now higher than before the beginning of the military operation in Ukraine, indicating that Western sanctions on the sector have failed, Bloomberg reported on Wednesday. Moscow’s income from crude sales […]
Source link Moscow’s export revenues are higher than what was expected by the West, according to new analysis The price limit imposed by the G7 and EU countries on Russian seaborne oil sales has essentially failed, Politico reported on Tuesday, citing new research. The mechanism was agreed last year and bans Western firms from providing […]
Source link The US and its allies are reportedly pressuring several countries to ensure Russian tankers don’t sail under their flags Western states are pressuring Liberia, the Marshall Islands, and Panama to boost checks of ships sailing under their flags to ensure they are not used to help Russia bypass sanctions, Reuters reported on Friday, […]
Source link The South Asian nation has replaced the EU as the largest importer of crude from Russia India boosted imports of Russian and Iraqi oil last month as refiners have been seeking better deals amid growing demand, Bloomberg reported on Friday, citing data by Kpler. Statistics reveal that imports from Russia jumped 9.7% in […]
Source link The OPEC+ group of major oil-producing countries led by Russia and Saudi Arabia agreed to deepen production cuts to about 2.2 million barrels per day (bpd) at a meeting on Thursday, according to a statement from the delegates. The group, which accounts for over 40% of global crude production, met to discuss next […]
Source link The head of Russian oil major Rosneft, Igor Sechin, has criticized the Finance Ministry’s tax policy, which he claims provoked a crisis in the domestic fuel market. He also took aim at the country’s Central Bank for a lack of “reliable” routes for cross-border payments in various currencies and for a series of […]
Source link Three Greek shipping firms have reportedly refused to carry Russian crude as US targets price-cap violations Three leading Greek shipping companies have stopped carrying Russian seaborne oil in recent weeks to avoid US sanctions, Reuters reported on Thursday, citing oil traders and shipping data. The firms – Minerva Marine, Thenamaris, and TMS Tankers […]
Source link More than 13,000 people in the West African nation can bring claims against the company, a UK court has ruled British energy multinational Shell can be sued by thousands of Nigerians for oil spills, the High Court in London has ruled. Earlier this year, more than 13,000 farmers and fishers from the Ogale […]
Source link Angola and Nigeria are reportedly demanding that the organization lets them produce more oil Two African members of the OPEC+ group of oil-producing countries, Angola and Nigeria, have defied the organization’s plans to cut output and demanded that their production quotas be raised, Reuters reported on Thursday. An ensuing dispute forced OPEC+ member […]
Source link The South Asian nation’s decision to continue trade with Moscow helped manage global inflation, its foreign minister said Indian Foreign Minister Subrahmanyam Jaishankar has asserted that India, the world’s second-largest oil buyer following China, played a pivotal role in stabilizing global oil and gas prices by continuing trade with Russia, thereby mitigating global […]
Source link The price limit imposed by the G7 and EU on Russian seaborne oil sales is being ignored, Bloomberg reported on Friday, citing calculations based on budget data from Moscow. According to the Russian Finance Ministry, gross revenues from the three main tax sources of oil money nearly doubled between April and October, reaching […]
Source link The forbidden petroleum products have kept flowing to the US military through a Greek refinery, the outlet says The Pentagon is bypassing Washington’s own sanctions against Russia as it continues to buy petroleum products made from its oil, which takes a circuitous route to a US military supplier despite an ongoing embargo, a […]
Source link The price cap on Russian oil introduced by the G7 and EU is being completely ignored, as almost no seaborne crude cargos have been traded below the $60-a-barrel limit, the Financial Times reported on Tuesday, citing Western officials and Russian export data. The mechanism, which was put in place to reduce Moscow’s export […]
Source link The spike in energy prices could be a result of the escalating Middle East conflict, according to a new report The conflict in the Middle East threatens to disrupt the oil supply and subsequently hurt global economic growth in 2024, Fitch Ratings has warned. In a report on Friday, the agency outlined a […]