Oil Exports

Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.

Russia has redirected its oil exports from Europe to China and India, Deputy Prime Minister Alexander Novak said Wednesday, almost two years after Moscow was hit by Western sanctions over the Ukraine conflict.

Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers' club.

Iran's Supreme Leader Ayatollah Ali Khamenei called on Muslim states to cease oil and food exports to Israel, demanding an end to its bombardment of the Gaza Strip, state media reported.

A triumvirate of high oil prices, a surging dollar and geopolitical instability are set to weigh on India and Indonesia among Asia's emerging markets, while energy exporter Malaysia may prove a rare beneficiary.

Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year.

Roberto Mancini is the latest high-profile acquisition for the world's top oil exporter which has snapped up some of football's biggest players in a spree costing hundreds of millions of dollars.

Russia's defence ministry said that it had thwarted overnight Ukrainian attacks on a naval base in the Black Sea and the Crimean peninsula. Novorossiysk Sea Port hosts the terminus of a pipeline that carries most Kazakh oil exports through Russia.

India and China, the world's top oil users, continued to lap up heavily discounted Russian crude oil, buying as much as 80 per cent of the oil that Moscow exported in May, the International Energy Agency (IEA) said in a report.

The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.

Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.

The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF.

Record high imports of crude oil from Russia in fiscal 2022-23 helped India's refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed.

India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources said.

Russia's oil export revenue sank 42 percent in February as Western powers tightened sanctions on the country in the wake of the Ukraine war, the International Energy Agency said on Wednesday.

Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.

Russia has redirected its oil exports from Europe to China and India, Deputy Prime Minister Alexander Novak said Wednesday, almost two years after Moscow was hit by Western sanctions over the Ukraine conflict.

Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers' club.

Iran's Supreme Leader Ayatollah Ali Khamenei called on Muslim states to cease oil and food exports to Israel, demanding an end to its bombardment of the Gaza Strip, state media reported.

A triumvirate of high oil prices, a surging dollar and geopolitical instability are set to weigh on India and Indonesia among Asia's emerging markets, while energy exporter Malaysia may prove a rare beneficiary.

Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year.

Roberto Mancini is the latest high-profile acquisition for the world's top oil exporter which has snapped up some of football's biggest players in a spree costing hundreds of millions of dollars.

Russia's defence ministry said that it had thwarted overnight Ukrainian attacks on a naval base in the Black Sea and the Crimean peninsula. Novorossiysk Sea Port hosts the terminus of a pipeline that carries most Kazakh oil exports through Russia.

India and China, the world's top oil users, continued to lap up heavily discounted Russian crude oil, buying as much as 80 per cent of the oil that Moscow exported in May, the International Energy Agency (IEA) said in a report.

The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.

Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.

The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF.

Record high imports of crude oil from Russia in fiscal 2022-23 helped India's refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed.

India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources said.

Russia's oil export revenue sank 42 percent in February as Western powers tightened sanctions on the country in the wake of the Ukraine war, the International Energy Agency said on Wednesday.