gazprom neft

The United States and Britain on Friday announced sanctions against Russia's energy sector, including oil giant gazprom neft, just days before outgoing President Joe Biden leaves office. The US State Department announced it was also taking action against Russia's energy sector, "sanctioning nearly 80 entities and individuals, including those engaged in the active production and export of liquefied natural gas (LNG) from Russia."

The United States has extended a temporary operating licence for Serbia's sanctioned oil company, the latter's energy minister confirmed on Friday, as negotiations continue over the exit of Russian majority shareholders. But according to Serbian Energy Minister Dubravka Djedovic Handanovic, the licence has now been extended until February 20.

Ukraine launched drone attacks on power and refinery plants in Moscow and Tver, sparking fires. Russia claimed its air defense units destroyed 158 drones overnight, with no casualties reported. This escalation comes as Ukraine seeks permission from the US to use allied-supplied weapons for deeper strikes inside Russia, aiming to disrupt Moscow’s war capabilities.

UEFA has moved this year's Champions League final from St Petersburg to Paris in the wake of Russia's invasion of Ukraine, European soccer's governing body said in a statement on Friday. UEFA also said the home games of Ukrainian and Russian club and national teams competing in UEFA competitions would be played at neutral venues "until further notice".

A fire at Russia's Omsk oil refinery resulted in seven hospitalizations, with one person in serious condition. The refinery, operated by gazprom neft, maintained normal operations despite the incident. The blaze affected a major crude distillation unit, although production plans remain on track. The cause of the fire is still unknown, though recent attacks on refineries have raised concerns.

ENSO Oils & Lubricants has partnered with Gazpromneft-Lubricants to expand the distribution of lubricant assets in South Asia. ENSO will import and distribute Gazpromneft-Lubricants' range of oils and lubricants to meet the needs of various industries in India. Gazpromneft-Lubricants will provide premium engine and transmission oils for Indian-made vehicles. The collaboration aims to enhance the supply of specialized lubricants to major manufacturers of industrial equipment in India.

Serbia faces a critical juncture as the US demands complete withdrawal of Russian ownership from its largest oil company, NIS, to lift sanctions. Failure to comply by February 13 could trigger a severe energy crisis, forcing Belgrade to consider nationalizing NIS, a move met with internal resistance. The Serbian government is urging Moscow to understand the gravity of the situation.

The United States has granted a majority-Russian-owned Serbian oil company a temporary reprieve from sanctions targeting Moscow's invasion of Ukraine, a Serbian minister said on Wednesday. According to the Serbian national broadcaster RTS, Hungarian Prime Minister Viktor Orban was involved in discussions between Vucic and the US State Department earlier Wednesday, while the Hungarian firm MOL is in negotiations to buy the Russian portion of NIS's shares.

Indian refiners are assessing new US sanctions on Russian oil companies. Despite the measures, purchases of Russian crude may continue. This is because sanctions target specific entities, not the oil itself. Rosneft, a major supplier, acts as an aggregator. Refiners will buy if compliant with sanctions and price caps. This situation impacts private refiners differently.

Indian refiners are now securing non-sanctioned Russian crude at attractive discounts, with some deals fetching $5 per barrel below Dated Brent. This strategic shift follows US sanctions on major Russian oil firms. While overall imports remain controlled, select companies are resuming purchases, navigating evolving sanctions and ongoing trade discussions with Washington.

Indian refiners have started paying for certain oil imports from Russia in Chinese yuan, Reuters reported quoting sources on Monday. This move comes as Western sanctions on Moscow and its customers have prompted them to seek alternatives to the dollar for settling payments.The imposition of sanctions on Russia over its invasion of Ukraine has disrupted global trade flows for its primary export, with India emerging as the largest buyer of Russian seaborne oil.

US authorities have temporarily eased sanctions on Lukoil-branded fuel stations outside Russia, allowing them to operate until April 2026. This move impacts stations in the US and elsewhere, while India faces a significant drop in Russian crude imports due to sanctions on Lukoil and Rosneft, impacting major refiners.

Ukrainian President Zelenskyy thanks US President Biden for unwavering support, days before Biden leaves office. Discussions include new sanctions on Russia’s energy sector and bolstering Ukraine's air defenses. Zelenskyy values US-provided military aid in defending against ongoing Russian aggression and stresses the importance of preserving Ukraine’s independence.

The Chinese yuan is making deeper inroads as a currency of choice for global payments, with international transactions climbing to their highest level ever.

India's top energy companies including ONGC Videsh Ltd is discussing buying a stake in Russia's massive Vostok oil project as well as a planned liquefied gas project Arctic LNG-2, oil minister Hardeep Singh Puri said.

US sanctions on Russia's Rosneft and Lukoil are unlikely to halt Indian and Chinese crude purchases, though short-term disruptions are anticipated. While buyers reassess risk, direct purchases by non-US entities remain legally permissible, suggesting major export disruptions are improbable.

Russia is sending more crude oil produced in the Arctic region to China and India, and at steeper discounts, after Europe slammed its doors shut on Russian supplies last month, trade sources and data show.

Tesla boss Elon Musk is a poster child of low-carbon technology. Yet the electric carmaker’s backing of bitcoin this week could turbo-charge global use of a currency that’s estimated to cause more pollution than a small country every year.

Putin’s two-day visit to India, starting December 4, aims to recalibrate energy and defence ties, amid US’ sanction pressure. While New Delhi wants to buy more S-400 systems, Moscow is pitching its 5th-gen Sukhoi-57 stealth fighter as a cheaper alternative to US F-35

The best hope for reducing the Kremlin’s oil income is a drop in global oil demand driving down prices, but the big forecasting agencies don’t see that on the horizon.

During its final days in office, the Biden administration passed an order sanctioning more Russian oil tankers. This is how the move could affect India

ASIA-CRUDE/TRADES:Asia Crude Oil Trades-Chinaoil sells March Basra Heavy to Chevron