Huge oil deposit discovered in Russia

Russian energy major Rosneft has announced the discovery of a huge oil deposit in the Pechora Sea containing an estimated 82 million tons of oil. The field was discovered due to a drilling campaign in the Medynsko-Varandeysky area. A free flow of oil was obtained with a maximum flow rate of 220 cubic meters a

Rosneft holds back on signing extra oil deals with India

According to the sources, Russia’s Rosneft is not ready to sign new crude oil deals with two Indian state refiners, as it has committed sales to other customers. Indian refiners have been snapping up cheap Russian oil, shunned by western companies and countries since sanctions were imposed against Moscow for its invasion of Ukraine on

Russian refineries feel the heat of buyers not taking oil products

Rosneft’s 240,000 b/d Tuapse on the Black Sea halted crude uptake March 4 because it cannot ship its production, while the company’s 342,000 b/d Ryazan refinery in central Russia has reduced the volume it is accepting. While there are no sanctions on exports of Russian crude or refined oil products, limited access to credit for