oil industry

Kremlin weighing fuel imports after 25% drop in gasoline output

Persistent Ukrainian drone strikes targeting Russian oil infrastructure have caused a 25 percent drop in domestic gasoline production, leading to a substantial fuel shortage, Reuters reported on June 23.

23 June, 09:42 PM

Gulf countries shrink oil production as Iran missiles keep flying

The state-owned Kuwait Petroleum Corporation (KPC) and has begun cutting production and declared force majeure, Reuters reported on March 7.

9 March, 12:49 PM

Russia claims huge oil discovery amid waning profitable reserves

Gazprom Neft, Russia's third-largest oil producer, has discovered a major new field on the Yamal Peninsula with geological reserves estimated at 400 million barrels, The Moscow Times reported on Feb. 11.

11 February, 02:52 PM

Fire rages at Russian oil depot in Krasnodar Krai for fifth day

Firefighters have been battling a blaze for the fifth consecutive day at an oil depot near the village of Kavkazskaya in Russia’s Krasnodar Krai, following a fire that broke out during the night of March 19, Reuters reported on March 24.

24 March 2025, 08:45 AM

Ukrainian drones strike oil facilities in Russia’s Rostov Oblast and Syzran refinery – General Staff

Ukraine’s drone forces, working alongside other units of the Defense Forces, carried out a series of overnight strikes on key Russian infrastructure, hitting vital oil facilities used to support Moscow’s war effort, the General Staff of Ukraine’s Armed Forces reported on March 4.

4 March 2025, 02:14 PM

Russia drowning in unsold oil as sanctions and Ukrainian strikes hit hard

Russian oil companies are facing forced production cuts as they struggle to sell millions of barrels of oil following the so-called "farewell" sanctions imposed by the Biden administration in January, U.S. News reported on Feb. 12.

13 February 2025, 12:08 PM

Targeted oil depot in Russia's Nizhny Novgorod Oblast faces shutdown after attack - military expert

Lukoil Oil Depot in Nizhny Novgorod Oblast will most likely be taken out of operation after Ukrainian drone attack, military analyst Denys Popovych said in an interview with Radio NV on Jan. 29.

29 January 2025, 01:31 PM

UK expands sanctions targeting Russia’s ‘shadow fleet’ of oil tankers

The United Kingdom introduced a new sanctions package, marking its most extensive effort against Russia's 'shadow fleet,' which has transported oil and petroleum products worth billions of dollars over the past year.

25 November 2024, 10:03 PM

Trump’s projected win triggers 2% drop in oil prices — Reuters

Oil prices dropped by 2% on Nov. 6, as the dollar strengthened amid forecasts that Republican Donald Trump is winning the U.S. presidential election, and the country's oil reserves increasing more than anticipated, Reuters reported.

6 November 2024, 12:42 PM

Hungary accuses Ukraine of violating EU Association Agreement

Ukraine's decision to block the transit of Lukoil's Russian oil to Hungary and Slovakia "is a clear violation of the Association Agreement with the EU," Hungarian Foreign Minister Péter Szijjártó said at a press conference in Brussels on July 22.

23 July 2024, 11:27 AM

EU and Britain to fight Russian 'shadow fleet' of oil tankers

The United Kingdom plans to call on several European countries to take action against the so-called "shadow fleet" of oil tankers used by Russia to circumvent international sanctions, Bloomberg reported on July 15.

16 July 2024, 10:39 AM

India and Russia discuss long-term oil import deal

India's state-owned oil refineries are holding joint talks with Russia on a long-term oil import deal, though the countries have yet to finalize terms, including the currency of payment for imports, Reuters reported, citing a government source on July 11.

12 July 2024, 11:40 AM

Ukraine's largest oil producer starts key drilling projects

Ukrnafta, Ukraine's leading oil producer, has commenced construction of two new oil wells projected to yield over 100 tons of oil daily, the company's press service announced on July 1.

1 July 2024, 02:51 PM

UAV attacs an oil depot in Russian Tambov Oblast

Drone attacked an oil depot in Tambov Oblast, putting it on fire, reported Tambov Governor Maksim Yegorov on Telegram on June 28.

28 June 2024, 12:25 PM

Ukrainian HUR drones strike oil depot in Russia's Belgorod Oblast

The Main Intelligence Directorate of the Ukrainian Defense Ministry (HUR) used drones to attack an oil depot in Russia's Belgorod Oblast, a Ukrainian intelligence source told NV on June 6.

6 June 2024, 11:45 AM

Czechia extends deadline for phasing out Russian oil

Czechia will get rid of its dependence on Russian oil by mid-2025 at the latest, Checz Prime Minister Petr Fiala said after meeting with management of state-owned Mero company at Nelahozeves Central Oil Terminal, Radio Prague International reported on July 4.

5 June 2024, 12:04 PM

State-owned Ukrtatnafta to get an independent oversight board

Ukraine’s state-owned enterprise Naftogaz and the Defense Ministry, the sole shareholders of oil refining company Ukrtatnafta, have decided to establish an independent oversight board to manage the business, Naftogaz announced on May 21.

22 May 2024, 01:36 AM

Turkish scheme of selling rebrended Russian fuel to the EU disclosed

Due to a loophole in Western sanctions, Turkey is changing labeling of Russian oil, passing it off as its own, and sending it to the European Union, which has earned Russia $3,26 billion, Politico reported on May 15.

16 May 2024, 11:32 AM

Russia repairs key oil refineries after Ukrainian drone attacks — report

Russia has managed to quickly repair several key oil refineries that were damaged by Ukrainian drones, with capacity reductions now at approximately 10% compared to nearly 14% at the end of March, Reuters reported on April 15.

15 April 2024, 10:07 PM

Drone reportedly crashes near Moscow Oblast oil depot

A fixed-wing drone was found on April 4 in a field merely 150 meters from Lukoil's Novoselki oil tank farm in Moscow Oblast, the local Baza Telegram news channel reported on April 5.

5 April 2024, 04:36 PM

oil industry

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