oil

Western companies insure Russian oil tankers defying G7 sanctions

Western insurance companies have been providing coverage for Russian oil tankers, despite G7 price caps and sanctions aimed at reducing Russia's ability to finance its war in Ukraine, Reuters reported on Aug. 8.

8 August 2024, 04:24 PM

Hungary and Slovakia are urged to find alternatives to Russian oil

The European Commission rejects complaints that Ukrainian sanctions against the Russian company Lukoil threaten the security of EU supplies, the Financial Times reported on Aug. 1.

2 August 2024, 07:17 PM

Slovak PM threatens to block diesel supplies to Ukraine amid Ukrainian sanctions on Russian Lukoil

Slovakia will not supply Ukraine with diesel fuel unless Kyiv resumes the transit of Russian oil from Lukoil, the country’s Prime Minister Robert Fico said on Facebook on July 29.

30 July 2024, 12:46 PM

Hungary threatens to block EU aid over Ukraine's Russian oil transit ban

Budapest has threatened to block the disbursement of €6.5 billion ($7 billion) to Ukraine from the European Peace Facility if Kyiv does not lift the ban on the transit of Russian oil through Ukrainian territory, Hungarian Foreign Minister Péter Szijjártó said, according to Hungarian TV channel ATV on July 23.

24 July 2024, 05:45 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

Berlin looks to tackle Russia’s ‘shadow fleet’

Germany and the rest of the EU plan to implement further steps to counter Moscow’s "shadow fleet" of tankers circumventing Western restrictions on Russian oil exports, German Chancellor Olaf Scholz announced on July 18.

19 July 2024, 01:11 AM

UK sanctions 11 tankers carrying Russian oil

The UK government has expanded its sanctions list to include 11 vessels transporting Russian oil in breach of existing Western restrictions, Reuters reported on July 18.

18 July 2024, 10:51 PM

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

Naftogaz, Ukraine’s state-owned oil company, reports $247 million profit in quarter

In the first quarter of 2024, Naftogaz Group reported a net profit of UAH 10.9 billion ($270 million), a significant turnaround from a net loss of UAH 1.4 billion ($34.6 billion) in the same period of 2023, the company announced on June 28.

28 June 2024, 10:31 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 army confirms succesful strikes on Russian Tambov Oblast and Krasnodar Krai - General Staff

Ukrainian Armed Forces successfully hit a number of oil refinery facilities and other important targets in Russia, General Staff of the Armed Forces of Ukraine reported on Telegram on June 21.

21 June 2024, 01:20 PM

Largest oil and gas company in Ukraine moves towards producing electricity

Ukrainian oil company Ukrnafta will start building maneuverable power generation plants, including gas piston and gas turbine thermal power plants, the company's press service reported on June 6.

6 June 2024, 03:55 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

Hundreds of Russian oil tankers easily bypass Western restrictions

In an article for NV on June 2, Russian energy market expert Mikhail Krutikhin explained why the G7-imposed $60 oil price cap does little to stem Moscow’s oil revenues.

3 June 2024, 09:03 PM

Ukraine's HUR behind attack on oil refinery in Leningrad Oblast - media

During a special operation of Main Intelligence Directorate of Ukraine (HUR) at a refinery in Vyborg, Leningrad Oblast, three vertical fuel tanks were destroyed by explosive devices, hromadske reports, citing an intelligence source on May 19.

19 May 2024, 05:46 PM

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 boosts oil exports to Singapore to record levels — Reuters

Russia's refined oil product exports to Singapore hit their highest in 2024, Reuters reported on May 13.

13 May 2024, 04:20 PM

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