Contents tagged with Russian oil

  • Kyiv: Ukraine has to continue buying Belarusian fuel made from Russian oil

    Kyiv purchases from Belarus fuel made from Russian oil, said Heorhiy Tuka, Deputy Minister for Temporarily Occupied Territories and Internally Displaced Persons, on the 112 Ukraine TV channel.

    “We have to buy from Belarus a large amount of fuel that is used by the entire country. Belarus, undoubtedly, produces it from Russian oil, but it is still profitable for us,” he said.

    According to Tuka, an alternative way for Ukraine implies buying fuel made from European oil, but he expressed doubts …

  • Kazakhstan raises the price for Russian oil transit to China

    Kazakhstan has increased the cost of oil transportation from Russian through Kazakhstan to China by a third, reported with reference to the press service of the KazTransOil JSC.

    “By the order of the Minister of Energy of the Republic of Kazakhstan, Kazakhstan approved the cost of transportation of oil amounting to 10 million tons per year along the Russian border - the border of Kazakhstan (Priirtyshsk) – Atasu (Kazakhstan) - Alashankou (China) route. The transportation of one …

  • Kremlin admits Russia cut off from modern oil extraction technologies

    The West’s sanctions against Russian mining companies have been creating “serious problems” for Russian oil and gas extraction companies, who have become dependent on foreign technologies, stated Russian Security Council Secretary Nikolai Patrushev as cited by Interfax news agency.

    “The financial and technological sanctions introduced by the US and their allies against Russian energy companies have highlighted the problem of domestic energy’s vulnerability and dependence on foreign capital and …

  • Iran claims that Russia is ready to invest $50 billion in its oil and gas sector

    After a meeting with Russian President Vladimir Putin, the adviser to the supreme leader of Iran, Ali Akbar Velayati, stated that Moscow is ready to invest $50 billion in Iran’s oil and gas sector.

    “Mr. Putin spoke during today’s meeting about his readiness to expand the oil trade between the two countries and increase investments in the oil and gas industry of our country up to $50 billion,” television company IRIB quoted Velayati as saying.

    According to Velayati, this is quite a large …

  • Europe cuts back on Russian oil purchases by 20% due to poor quality

    Europe continues to cut back on its oil purchases from Russia due to the dropping quality of the Urals variety.

    At the end of January-May, shipments to the EU through the primary ports of export fell by double-digit figures, Transneft vice president Sergey Andronov told Vedomosti.

    European clients bought 24% less from Primorsk than last year (16.1 million tons). Shipments out of Novorossiysk fell by 17% (to 7.7 million tons), and shipments from Ust-Luga by 26%.

    Only the export volumes to …

  • Russia increases export duty on oil by $6.4 per ton

    Beginning January 1, the export duty on oil in Russia has increased by $6.4 per ton, rising from $105 to $111.4.

    As Interfax reports, citing information from the Ministry of Economic Development, the preferential duty rate on crude oil from Eastern Siberia, the Caspian fields and Prirazlomnoye field will remain at zero, based on a new formula adopted within the framework of a tax maneuver for the oil sector. Beginning January 1, the duty on high-viscosity crude Increased to $17.9 from $16.8 in …

  • Russia raises export duties on oil

    The Ministry of Economic Development of Russia has decided to increase the duty on oil exports from October 1. According to the department’s documents, the first increase since September last year will amount to almost $4 per ton, bringing the tax on exported oil from $84.10 to $87.90 this September.

    The increase will affect almost all types of fuel. According to RIA Novosti, the export duty for high-viscosity oil is raised to $13.60 from $12.90 for commercial gasoline, up to $26.30 compared …