Stay updated with breaking news from Vortexa Analytics. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The ban on shipping and the price cap have made buyers wary and forced Russia to pay for transportation of crude as it does not have enough tankers to carry all of its exports. As of late January, Russian oil firms were offering discounts of $15-$20 per barrel for crude to buyers in India and China, according to at least 10 of the traders who are involved in operations and an invoice seen by Reuters.
Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards…
By Dmitry Zhdannikov, Chen Aizhu and Nidhi Verma LONDON, Feb 8 (Reuters) – Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining...
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
SINGAPORE: China's crude oil imports from Russia rose 17 percent in November from a year earlier, as Chinese refiners rushed to secure more cargoes ahead of a price cap imposed by the Group of Seven nations on Dec. 5. The jump made Russia the top oil supplier for China ahead of Saudi Arabia. Arrivals of Russian crude, including oil pumped through the East Siberia Pacific Ocean