India’s largest buyer of Russian oil, Reliance Industries, has shifted to purchasing crude from Middle Eastern countries and the United States following the U.S. sanctions imposed on Lukoil, Rosneft, and their subsidiaries, Bloomberg reported, citing traders.
India has begun purchasing several grades of crude oil from Iraq and Qatar, including Saudi Khafji, Iraqi Basrah Medium, and Qatari Al-Shaheen, as well as a limited amount of U.S. West Texas Intermediate (WTI) crude. The deliveries are expected to take place in December or January, according to traders.
In total, the Indian company purchased at least 10 million barrels of crude oil on the spot market in October, with the majority of volumes consisting of Middle Eastern grades, traders said. Most of Reliance Industries’ crude oil purchases were made after the U.S. imposed new sanctions on Russia.
Sources familiar with the matter added that other Indian refiners are also showing interest in spot cargoes, particularly from the Middle East, the U.S., and Brazil.
Earlier this year, Reliance Industries became India’s largest importer of Russian crude, buying oil under a long-term contract with Rosneft.
Moldova has decided to halve its natural gas transit tariff to Ukraine for the 2025–2026 heating season, the National Energy Regulatory Agency of Moldova (ANRE) announced on its website. The approved changes stipulate that, for a period of six months — from November 2025 to April 2026 — the gas transportation tariff will be reduced […]
Shares of Russia’s largest oil producers, Rosneft and Lukoil, plummeted on the Moscow Exchange following the introduction of U.S. sanctions against them. Over the past two days — Thursday and Friday — the combined market capitalization of the two companies fell by 424 billion rubles, equivalent to $5.2 billion. As of 8:11 p.m. Moscow time, […]
A cyberattack on Jaguar Land Rover (JLR) caused an estimated $2.5 billion in damages to the UK economy, according to Reuters, citing a report by the independent nonprofit organization Cyber Monitoring Centre. Experts warn that losses could increase if the company’s production fails to return to pre-attack levels soon. The report suggests this may be […]
Tesla is recalling 12,963 vehicles in the United States due to a fault in the battery pack component that could lead to a sudden loss of driving power, according to the U.S. National Highway Traffic Safety Administration (NHTSA). The issue affects certain 2025 Model 3 and 2026 Model Y vehicles, where drivers may lose the […]
Apple is preparing to celebrate the 20th anniversary of the iPhone in 2027 with the release of a completely redesigned iPhone 20 series, according to a report by South Korea’s ETNews. The company may skip the iPhone 19 and move directly to iPhone 20, marking the milestone with a symbolic leap in numbering. Apple made […]
Russia’s seaborne oil shipments have surged to their highest level in 29 months, nearing the peak recorded since the start of the war in Ukraine, Bloomberg reported, citing tanker-tracking data. According to the report, the four-week average of crude exports from Russian ports as of October 19 reached 3.82 million barrels per day — about […]
The European Union plans to include Chinese oil refineries in its upcoming 19th sanctions package against Russia, targeting companies that help Moscow circumvent existing restrictions, according to EU diplomatic sources. The list reportedly includes two Chinese oil refineries, one trading firm, and another entity involved in sanction-evasion schemes. While these are not the first Chinese […]
Zaporizhzhya NPP connected Unit №2 to the power system of Ukraine. This was reported by the press service of NNEGC Energoatom. “On November 22 at 9:07 pm, after the completion of the average planned and preventive repairs, Unit №2 of Zaporizhzhya NPP is connected to the power system. Power is being set. There are no […]
Next
Huawei Technologies Co. Ltd. is going to open the department in Ukraine. The representatives of Ukrainian delegation who had visited the Eastern country with diplomatic purpose informed about it. The parties have discussed the perspectives of countries cooperation in the sphere of economy and business. The main thing was R&D centre and laboratory opening on the […]
Next
According to the CEO of Astarta, Victor Ivanchik, the investment plan has already been approved. The money also will be spent on the modernization of agricultural production and technology, modernization of sugar factories. The total investment of agricultural holding Astarta for 2016 remains at the level of 2015 and amounts to € 24 million, 60% […]
Next
Direction of LLC Development Construction Holding (DCH), whose president is Oleksander Yaroslavskyi, is considering to lease the OPP instead of the acquisition of assets of this PJSC, reported Zn.ua. In an official statement of OPP representatives was indicated that they appealed to the State Property Fund of Ukraine in order to initiate an open competition […]
Next
The Chinese company POWERCHINA and the Ukrainian company WindFarm have signed a contract for the joint construction of a wind farm in the Donetsk region. This was reported by the press service of WindFarm. “The cost of the project is at least $ 1 billion, which makes it the largest wind energy project in Ukraine,” […]
Next
In China, two more developers are unable to repay their debts: Fantasia Holdings has been unable to repay bonds worth $ 205.7 million, and Sinic Holdings is uncertain about the repayment of $ 246 million in bonds, the BBC reports. The day before, trading in Evergrande shares was suspended on the eve of “an announcement […]
Next
Shares of PayPal, increased up to 70.7% since the beginning of the year, continued to rise after the announcement of the financial results of the 2nd quarter which ended on June 30. This is not surprising given the growth of digital payments against the background of the global pandemic COVID-19. “The world has moved into […]
Next
Tesla is recalling about 50,000 Model S and Model X cars manufactured in the United States in different years and imported to China due to the identified suspension problems. This was reported on its website by the Chinese State Administration of Market Regulation. According to the statement of the Chinese regulator, almost 30 thousand Model […]
Next
January 17 of this year it became known on completion of the procedure of purchase of one of the largest in Eastern Europe IT-company SoftServe assets of Polish developer Coders Centre software, as reported online edition Inventure. The exact amount of the said financial transaction is not advertised, but experts believe that it is between […]
Next
The court satisfied the third claim of Oschadbank against the Creative company. It is reported by the press service of the Bank. According to the report, on April 28, the Commercial Court of Kirovograd region satisfied the third claim of Oschadbank against the Creative company and the Creative Agro company for solidarity overdue debt collection […]
Next
Ukrainian Network of supermarkets Novus gets a new CEO in the person of Mark Petkevich. His predecessor, Ihor Landa is leaving the post. The new ruler of Novus Ukraine, which has held the position of executive director of the network since September 2015, will enter the status of the General on January 19 this year. […]
Next
Recently, foreign automobile corporations are increasingly exposed to multi-million dollar fines from regulators. The reason is negligence of manufacturers who violate the road safety legislation at the stage of cars’ production. Scandals accompanied by multi-million dollar fines recently occurred in companies BMW, Volkswagen, and Fiat Chrysler, which subjected the charges from the regulatory authorities for […]
Next
In 2020, the state gas company Ukrgazvydobuvannya reduced its net profit by 3.8 times, or 14.1 billion hryvnias to 4.95 billion hryvnias compared to 2019, according to the company’s website. “Although last year due to the situation on the gas market, economic crisis and pandemic, our capital investments decreased almost one and a half times […]
Next
The total wealth of all dollar millionaires in the world in 2020 increased by 7.6% and amounted to $ 79.6 trillion. The international consulting company Capgemini SA in the annual World Wealth Report reported this. At the same time, the number of wealthy people (high-net-worth individual, HNWI) increased by 6.3% to 20.8 million people. The […]
Next
According to Interfax-Ukraine, the State Enterprise Production Association Yuzhny Machine-Building Plant named after A.M. Makarov (Yuzhmash) has provided the first step of Antares carrier rocket (CR) medium-class shipping by the interests of Orbital ATK Inc. (NYSE: OA) Company. The international space station renewed the cargo flight after CR modernization with Mild-Atlantic Regional Spaceport due to […]
Next
“MTS Ukraine” (Vodafone Ukraine), telecommunication company reached an agreement with “Ukrtelecom” about buying mobile operator “TriMob”. As noted, the the transaction amounted to about $ 120 million (3 billion UAH). According to one source , negotiations about the deal began since the spring of last year, when the “MTS Ukraine” has sold its fixed network […]
Next
