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Reuters reported in July that Indian refiners began using yuan to pay for some oil from Russian sellers, while continuing to use dollars and dirhams to settle most of their Russian oil purchases. Indian refiners buy most of their Russian oil from traders, while making some direct purchases from Russian entities. State-run Indian Oil Corp (IOC.NS), the country's top refiner, has used yuan and other currencies to pay for Russian oil, Reuters reported previously. Private Indian refiners have continued to pay in yuan and other currencies for Russian oil imports, sources said, with most Indian purchases of Russian oil paid in dirham. Indian Oil, BPCL and HPCL and the country's oil and finance ministries did not immediately respond to Reuters' requests for comments.

Persons: Tatiana Meel, Nidhi Verma, Tony Munroe, Simon Cameron, Moore Organizations: REUTERS, European Union, Reuters, Gazprom Neft, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, DELHI, India, Moscow, Ukraine, United States, dirhams, Gazprom, dirham, Hong Kong, China

☆ Russia’s diesel export ban may be just its latest attempt to hurt Europe
▼ + stars: | 2023-09-22 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Russia’s decision to ban diesel exports to most countries could not have come at a worse time for Europe. But the EU still needs a steady flow of Russian diesel to global markets to keep prices stable. The Russian government announced the curbs — which also apply to gasoline — Thursday, saying they were aimed at stabilizing domestic fuel prices. Diesel is Europe’s economic workhorse, powering the majority of vans and trucks ferrying goods and raw materials round the continent. Before Europe imposed its import ban, Russia supplied 40% of the country’s diesel.

Persons: London CNN —, ” Jorge León, ”, Natalia Kolesnikova, Pamela Munger, Henning Gloystein, Gloystein, “, Tim Lister, Anna Chernova Organizations: London CNN, European Union, Reuters, Kremlin, Diesel, Analysts, European, Rystad Energy, CNN, Gazprom, Getty, Eurasia Group, “, Brent Locations: Europe, Russian, Moscow, Ukraine, Russia, Saudi Arabia, South America, East, North Africa, AFP, Turkey, United States

☆ Russia's Gazprom Neft Q2 net profit falls 43% y/y
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Profits for global oil majors have dropped by about half from a bumper 2022, when Russia's actions in Ukraine sent oil and gas prices soaring. Gazprom Neft did not publish its financial results last year. The company, the oil arm of gas giant Gazprom (GAZP.MM), also said its April-June total revenues decreased to 821.6 billion roubles from 835.8 billion in the same period in 2022. Russia's energy sector has been under severe pressure from Western sanctions, imposed over Moscow's actions in Ukraine. They include price caps and an embargo on purchases of Russia's sea-borne oil.

Persons: Vladimir Soldatkin, Mark Potter, Gareth Jones Organizations: Gazprom Neft, Kremlin, Gazprom, Gazprom Neft's, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, China, India

There is no suggestion the trades break sanctions, although they may make it difficult for sanctions enforcement agencies in Europe and the United States to track Russian oil transactions and prices. The new trading network and practices raise financial risks for Russian oil companies dealing with unknown entities with limited credit history. "We recognise that (sanctions on Russia are) going to change the shape and structure of the Russian oil markets," the official told reporters. In May, Russian seaborne oil supplies to India, which was a rare buyer of Russian oil before the war, reached a record of 1.95 million bpd while China imported 2.29 million bpd. A source with one major Russian oil company said his company was prepared to deal with higher credit risks from buyers for the sake of having stable and rising oil exports.

Persons: Russia's, Rosneft, Everest, Coral, Washington, Lukoil, Dmitry Zhdannikov, Nidhi Verma, Timothy Gardner, Laura Sanicola, Simon Webb, Frank Jack Daniel Our Organizations: NEW, Liberian, Reuters, Shell, Group, European Union, Bellatrix Energy, Leopard, Guron, SEA, Coral Energy, Everest Energy, U.S . Treasury, EU, UK, Treasury, UAE dirham, Shipping, Hindustan Petroleum, Gazprom Neft, Covart Energy, Orion Energy, Media, Rosneft, Nidhi, Thomson Locations: Russia, Ukraine MOSCOW, NEW DELHI, Russia's Ust, Hong Kong, India, Moscow, Asia, Ukraine, Refinitiv, Europe, United States, Australia, China, U.S, UAE, Dubai, Visakhapatnam, Surgutneftegaz, Russian, Geneva, Singapore, Rosneft, Venezuela, MOSCOW, LONDON, Washington, New York

☆ Ex-McDonald's in Russia feeds waste cooking oil to fuel Gazprom Neft's vessels
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

ST PETERSBURG, Russia, July 20 (Reuters) - Russia's successor to McDonald's has teamed up with energy company Gazprom Neft (SIBN.MM) to fuel marine vessels with biofuel produced using waste cooking oil an effort to lower their carbon footprints, the companies said on Thursday. Russia has said it was still committed to its climate targets despite the deepest political rift with the West in decades. It said the new fuel is in compliance with technical regulations and can be used for most sea and river vessels. Vkusno & tochka already supplies waste cooking oil for production of biofuel used for heating of electric-powered buses in Moscow and has been recycling used cooking oil for over a decade. Irina Korshunova, in charge of sustainable development at Vkusno & tochka, said the company processes around 5,500 tonnes of waste cooking oil each year.

Persons: McDonald's, Gazprom Neft Marin Bunker, Anton Soboled, Irina Korshunova, Olesya Astakhova, Vladimir Soldatkin, Alexander Marrow, Angus MacSwan Organizations: Gazprom Neft, Biofuels, Gazprom Neft's, Thomson Locations: PETERSBURG, Russia, Baltic, St . Petersburg, McDonald's, Ukraine, Moscow

☆ Oilfield firm SLB halts all shipments to Russia
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

July 14 (Reuters) - Top oilfield services firm SLB (SLB.N) on Friday said it is halting shipments of products and technology into Russia from all its operations over an expansion of Western sanctions. SLB, the world's largest oil service and equipment provider, was one of the few providers to continue working the country's oil sector following Russia's invasion of Ukraine. The Curacao-domiciled firm recently had 9,600 employees working for top Russian oil and gas companies such as Gazprom Neft and Rosneft. The changes included barring Russia employees from accessing certain software and messaging systems, and walling off the unit from other operations. U.S. oilfield rivals Halliburton and Baker Hughes sold or put their Russian operations on the block soon after the February, 2022, invasion.

Persons: SLB, walling, Baker Hughes, Gary McWilliams, David Gregorio Our Organizations: Schlumberger, European Union, Canada, Gazprom Neft, Reuters, Russia, Halliburton, Thomson Locations: Russia, Ukraine, Curacao, Paris, Houston, London, The Hague, U.S

☆ Russian oil tops price cap set by Western countries for first time
▼ + stars: | 2023-07-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —The price of Russian crude oil has risen above a price cap set by the Group of Seven nations, in the first “real test” of whether the West can enforce one of its key sanctions against Moscow. “This is the first real test of the price cap sanctions,” Matthew Wright, a senior freight analyst at Kpler, told CNN. “High interest rates, declining economic activity in China, and a potential recession in the West,” have depressed oil prices globally. The smaller gap shows that the G7 price cap is “having a diminishing impact on Russian oil revenues,” Richard Bronze, co-founder and head of geopolitics at Energy Aspects, told CNN. Despite rising oil prices, buyers like India are unlikely to turn their backs on Russian oil, said Wright at Kpler.

Persons: ” Matthew Wright, Wright, “ It’s, Russia —, That’s, ” Richard Bronze, Natalia Kolesnikova, “, Tim Lister Organizations: London CNN, Group, Moscow, Argus Media, European Union, Argus, EU, CNN, Organization of, Petroleum, Gazprom, US Treasury, International Energy Agency, IEA Locations: China, India, Europe, Russia, OPEC, Ukraine, Brent, Moscow, AFP, Western, Kpler, Russian, Saudi Arabia

☆ Exclusive: India refiners start yuan payments for Russian oil imports -sources
▼ + stars: | 2023-07-03 | by ( Nidhi Verma | ) www.reuters.com time to read: +5 min

It could not immediately be determined how much Russian oil Indian refiners have bought with yuan, although Indian Oil has paid in yuan for multiple cargoes, sources said. The rise in yuan payments has given a boost to Beijing's efforts to internationalise its currency, with Chinese banks promoting its use specifically for Russian oil trade. Indian refiners have also settled some non-dollar payments for Russian oil in the United Arab Emirates' dirham, sources have said. One private refiner has also been using the same mechanism for payments for Russian oil, one of the sources said. Another state refiner, Bharat Petroleum Corp Ltd (BPCL.NS), is also exploring yuan payment for Russian oil, a separate source said.

Persons: IOC's, Rosneft, Nidhi Verma, Tony Munroe, Tom Hogue Organizations: U.S, Indian Oil Corp, Reliance Industries Ltd, Nayara Energy, HPCL Mittal Energy Ltd, Oil, Gazprom Neft, Reuters, United Arab, State Bank of India, NS Bora, Sun Ship Management, European Union, IOC, ICICI Bank, Bank of China, Bharat Petroleum Corp Ltd, Thomson Locations: DELHI, Russia, Moscow, Ukraine, India, China, Saudi Arabia, Indian, Dubai, United Arab Emirates, Iraq, United Kingdom, Bank, Rosneft, ICICI

☆ Fact Check-Image shows fire at Moscow oil refinery, predates Russia's war in Ukraine
▼ + stars: | 2023-06-09 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image from 2018 of a fire at an oil refinery owned by Russia’s Gazprom Neft is being reshared online to falsely suggest it shows a blaze in 2023 at a Moscow factory that makes fighter jet engines. “The Chernyshev factory in Moscow, which produces engines for MiG-29 fighter jets, has been in fire since this morning. However, Reuters traced the image back to November 2018 when it was shared in Russian reports about a fire at a Gazprom Neft oil refinery in Moscow’s Kapotnya district (here), (here), (here). According to Russian news reports citing Russia’s Ministry of Emergency Situations, the May 12 fire happened in Moscow’s Pokrovskoye-Streshnevo district at a factory that produces MiG aircraft engines here), (here), (here). The image can be traced back to 2018 when it was shared in reports about an oil refinery fire.

Persons: ”, Moscow’s, Read Organizations: Gazprom Neft, MiG, Facebook, Reuters, Gazprom, Russia’s Ministry Locations: Moscow, Moscow’s Kapotnya, Streshnevo

☆ Exclusive: Oilfield firm SLB retrenches as Russia sanctions squeeze
▼ + stars: | 2023-05-10 | by ( Liz Hampton | ) www.reuters.com time to read: +5 min

While SLB wasn't in breach of sanctions, the decision has triggered a backlash from employees and human rights groups. Reuters was unable to establish why SLB implemented new restrictions on its Russian business. Earlier this year, the U.S. expanded sanctions on Russia, including some targeting its mining and metals sector. Both last year also restricted financial transactions with Russia and placed export restrictions on certain energy equipment, technology and services. "Any new Global SLB Group-wide systems/applications should not be connected to or accessible by Russia," SLB told employees in a late-March memo viewed by Reuters.

☆ Russian oil producer sets self-driving trucks to work on Arctic tundra
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, May 5 (Reuters) - Driverless trucks produced by Russia's Kamaz (KMAZ.MM) have begun to carry cargoes across the snowy Arctic tundra for oil producer Gazprom Neft (SIBN.MM), the energy company said on Friday. Gazprom Neft said the trucks will service the Vostochno-Messoyakhskoye oilfield in the Gydan peninsula. Companies across the globe have poured billions of dollars into developing the driverless technology they say will increase road safety and alleviate truck driver shortages. Gazprom Neft is one of Russia's leading oil producers in terms of use of advanced technologies, including in tapping hard-to-recover oil. Kamaz also plans to use driverless trucks along the busy road between Moscow and St Petersburg, Russia's two largest cities.

The West imposed wide-ranging sanctions, including an embargo on seaborne Russian oil imports, after Moscow sent its armed forces into Ukraine in February 2022. "I can say today that we have managed to completely redirect the entire volume of exports affected by the embargo. INDIAShulginov said Russia had been working to reroute its oil and oil product exports to Asia, Africa, Latin America and the Middle East from its traditional markets in Europe. Deliveries to India are set to account for more than 50% of all seaborne Urals exports this month, with China in second place. Deputy Prime Minister Alexander Novak said Russian oil sales to India jumped 22-fold last year, but he did not specify the volume sold.

☆ Putin allows Gazprom Neft to take over Shell stake in Salym oil project
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: 1 min

Feb 17 (Reuters) - Russian President Vladimir Putin on Friday signed a decree allowing Gazprom Neft (SIBN.MM) (GPN) to take over Shell's (SHEL.L) 50% stake in the Salym oil project, a deal that had been provisionally agreed in December. But the decree, posted on the government's website, did not say whether Shell would receive any money. Shell - which announced the deal earlier this month - had already written down the value of its stake with an impairment of $233 million last year. Its directors resigned from the project last July. Reporting by David LjunggrenOur Standards: The Thomson Reuters Trust Principles.

"Judging by the customs statistics, some of the benefit was captured by refiners in India and China, but the main beneficiaries must be oil shippers, intermediaries and the Russian oil companies," he added. As a further complication, some Russian oil grades, including Pacific grade ESPO, are also worth more than Urals. After decades of low profits or losses, sections of the global shipping industry are enjoying a financial boom from moving Russian oil. A year ago, a similar journey would have cost a seller of Russian oil $0.5-$1.0 million depending on shipping rates. Nayara is 49%-owned by Russian state oil major Rosneft, run by Putin's ally Igor Sechin, meaning some of the profits are indirectly captured by Russia.

[1/2] An aerial view shows a storage facility owned by Lukoil company at the Arctic port of Varandei October 22, 2013. Arctic crude exports to India have steadily increased since May, with a record 6.67 million barrels loaded in November and 4.1 million barrels in December, Refinitiv data showed. At least three oil tankers that loaded Arctic crude in Murmansk port are now heading to China, Refinitiv data showed. Refinitiv listed the grades carried by these ships as Arco crude although one Chinese trader said there could be Varandey crude onboard. Oil tankers, carrying Russian Arctic crude, are passing Europe and the Middle East to head to China and IndiaReporting by Nidhi Verma in New Delhi, Muyu Xu and Florence Tan in Singapore; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's Gazprom Neft eyes steady oil refining volumes in 2023
▼ + stars: | 2022-12-08 | by ( Olesya Astakhova | ) www.reuters.com time to read: +2 min

The stable output at Gazprom Neft, which controls Russia's largest oil refinery in the western Siberian city of Omsk, shows the resilience of the Russian oil industry despite the harshest Western sanctions in recent history. The 400,000-barrel per day (bpd) Omsk plant, 1,600 km east of Moscow, started operations in 1955 and is Russia's largest oil refinery. He said the company continues modernisation of the plant following the launch of a deep oil refining complex earlier this year. Next year, Gazprom Neft plans to install a primary refining complex at the plant with capacity of 8.4 million tonnes per year. According to Vedernikov, the Omsk refinery is also working on production of the needle coke.

☆ EU delays talks on Russian oil price cap until next week, diplomats say
▼ + stars: | 2022-11-25 | by ( ) www.cnbc.com time to read: +2 min

A meeting of European Union government representatives, scheduled for Friday evening to discuss a Group of Seven proposal to cap Russian seaborne oil prices, was canceled, EU diplomats said. On Thursday, European Union governments were split on the level at which to cap Russian oil prices to curb Moscow's ability to pay for its war in Ukraine without causing a global oil supply shock. The EU diplomats, who declined to be identified, said it was not clear how near both sides were to an agreement. "The latest is that Poland, Estonia and Lithuania are trying to outdo each other on their toughness on the price cap," one of the diplomats close to the talks said, adding that Poland wanted to link agreement of the price cap to a new package of sanctions against Russia. "Meanwhile Malta, Greece and Cyprus are in it for the money, whichever way they can get it - through a higher cap, or compensation, etc.

☆ EXCLUSIVE Schlumberger faces employee backlash in Russia over cooperation on draft
▼ + stars: | 2022-10-14 | by ( Liz Hampton | ) www.reuters.com time to read: +5 min

Human rights groups are watching how the company responds to the concerns. Schlumberger suspended new investments and technology deployment in Russia, but unlike some of its peers and customers, decided to remain. Schlumberger leaves decision-making on Russia employment policies to local managers, the U.S.-based spokesperson said. The Business & Human Rights Resource Centre requested information from Schlumberger and other non-Russian companies with operations in the country on their handling of the mobilization. Schlumberger rivals Baker Hughes (BKR.O) and Halliburton (HAL.N) are selling or have sold their oilfield services units in Russia.

☆ Hungary, Serbia agree to build pipeline to ship Russian oil to Serbia
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

The receiver station of the Druzhba oil pipeline between Hungary and Russia is seen at the Hungarian MOL Group's Danube Refinery in Szazhalombatta, Hungary, May 18, 2022. REUTERS/Bernadett Szabo/File PhotoBUDAPEST, Oct 10 (Reuters) - Hungary and Serbia have agreed to build a pipeline to supply Serbia with Russian Urals crude via the Druzhba oil pipeline as Belgrade's shipments via Croatia fall under EU sanctions, the Hungarian government said on Monday. Serbia gets its oil via the JANAF oil pipeline from Croatia. "The new oil pipeline would enable Serbia to be supplied with cheaper Urals crude oil, connecting to the Friendship oil pipeline," Hungarian government spokesman Zoltan Kovacs tweeted. Hungary has gas reserves covering about five to six months' worth of consumption, Prime Minister Viktor Orban said.

☆ Factbox: Mixed fortunes for producers as petrodollars flow
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +6 min

Data on Saudi Arabia, Russia, Nigeria and Iraq shows how not all the big producers are cashing in on the oil price bonanza. In February 2022, oil and gas sales were $1.26 billion but NNPC remitted $0 in March. RUSSIARussia's oil and gas budget revenues in January-August increased by 43% compared with a year ago, providing authorities with room to step up public spending aimed at limiting the impact of sweeping Western sanctions. In January-August, Russia's oil and gas revenues totalled 7.3 trillion roubles ($121,7 billion), or 82% of such revenues it envisaged for 2022. But in July-August, oil and gas revenues fell year on year.

☆ Everything you need to know about silovarchs — Russia's security elites — and the power they wield
▼ + stars: | 2022-04-10 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +5 min

Russia's security elites are silovarchs, a term combining "oligarch" and "siloviki" ("people of force.") Analyst Hugo Crosthwaite said silovarchs are closer to President Vladimir Putin than oligarchs. According to Treisman, oligarchs do not hold a great deal of political influence, while silovarchs are more powerful. Table of Silovarchs Viktor Ivanov – former chair of the board for Almaz-Antei and Aeroflot – had a career in Soviet KGB and Russian FSB. Rashid Nurgaliev– former interior minister and deputy secretary of the Security Council – is Army General and worked for the FSB.

☆ Dacă revenim la normalitate, atunci vor reveni şi preţurile pe care le-am avut
▼ + stars: | 2021-06-30 | by ( ) capital.market.md time to read: +5 min

În mod tradiţional, creşterea preţului petrolului era generată de izbucnirea unor conflicte în special în zonele bogate în asemenea resurse. Instituţiile economice ale lumii voiau să ştie cum influenţează preţul petrolului brut conjunctura economică mondială. Promovarea resurselor alternative continuă să reducă dependenţa economiei mondiale de petrol, însă acesta are încă motoarele într-o continuă mişcare. Totuşi, în timp ce tensiunile dintre SUA şi Iran s-au calmat rapid, trendul preţului petrolului şi-a schimbat direcţia în jos. În ceea ce priveşte preţul gazelor naturale, acesta are toate şansele să crească, aşa cum preţul petrolului are puterea sa de influenţă.

Persons: coronavirus, Novak, Alexandr Dyukov, Gazprom, Constantin Olteanu Organizations: Totuşi Locations: Nigeria, Orientul Apropiat, Mexic, Arabia Saudită, Iraq, SUA, Iran, Rusia, Satele Unite, Moldova, Ucraina

☆ Frumos din toate aspectele: Lakhta Center a primit premiul "Zgârâie-Nori ai Anului"
▼ + stars: | 2020-11-13 | by ( Doina Crainic | Octavian Racu | ) ro.sputnik.md time to read: +2 min

Pe primul loc al clasamentului a ajuns clădirea Lakhta Center, dat în exploatare anul trecut, construit în Sankt Petersburg, în calitate de sediu al “Gazprom”. Juriul premiului a fost impresionat de forma neobișnuită a Lakhta Center, care amintește de o flacără, reprezentată pe logoul Gazprom. Inițial, pentru construcția Lakhta Center, autoritățile din Sankt Petersburg au oferit un teren pe malul drept al râului Neva, în districtul municipal Malaia Ohta. În noiembrie 2018, volumul de finanțare a construcției Lakhta Center a ajuns la 120,7 miliarde de ruble. Singura sursă de finanțare a lucrărilor de construcție sunt creditele contractate de la Gazprom Neft, de către operatorul proiectului - Societatea pe Acțiuni “MFK Lakhta Center”.

Persons: Gazprom Organizations: Center, Gazprom Locations: Sankt Petersburg, Rusia, Europa, Moscova, Malaia

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