#ROSNEFT

[inprimalinie]

Întreruperea aprovizionării cu petrol. Povestea în jurul Lukoil devine confuză și ce înseamnă aceasta pentru Slovacia

Postoj: Producția de motorină din Slovacia este în pericol din cauza acțiunilor Ucrainei. Georgiana Arsene Problema livrărilor de petrol rusesc către Slovacia și Ungaria are două niveluri: economic și politic, scrie Postoj. Bratislava și Budapesta au intrat într-o dispută nu numai cu Kievul, ci și cu Comisia Europeană. Între timp, producția de motorină din Slovacia a fost amenințată – iar…

[sequelscreen]

Reliance to Buy Russian Oil in Roubles: A Strategic Shift in Global Trade

In a significant move that underscores the evolving dynamics of global trade, India’s Reliance Industries has inked a one-year deal with Russia’s Rosneft to purchase oil in roubles. This shift aligns with Russian President Vladimir Putin’s directive for Moscow and its trading partners to bypass the Western financial system amid ongoing U.S. and European sanctions.

Key Details of the Deal

According to sources close to Reuters, Reliance, which operates the world’s largest refining complex, will buy at least 3 million barrels of oil monthly from Rosneft. The agreement, effective from the start of the Indian financial year on April 1, allows Reliance to secure discounted crude oil amidst anticipated supply cuts by the OPEC+ group.

OPEC+, consisting of the Organisation of the Petroleum Exporting Countries and allies including Russia, is set to discuss extending these cuts in a meeting on June 2. This move is crucial for Reliance as it navigates the fluctuating oil market.

India’s Growing Role in Russian Oil Imports

India, now the largest buyer of seaborne Russian crude, has significantly increased its imports since Western nations imposed sanctions on Moscow following Russia’s 2022 invasion of Ukraine. Payments for these imports have been made in various currencies, including rupees, dirhams, and Chinese yuan, reflecting India’s flexible approach to circumvent financial restrictions.

While state-owned Indian refiners have been active in the spot market for Russian oil due to challenges in finalizing term supplies, Reliance’s new deal with Rosneft ensures a stable supply at favorable rates. This deal includes the purchase of two cargoes of approximately one million barrels of Urals crude monthly, with the option to buy four additional cargoes at a $3 per barrel discount to the Middle East Dubai benchmark. Additionally, Reliance will buy one to two cargoes of low-sulphur ESPO Blend crude from Russia’s Pacific port of Kozmino at a $1 premium to Dubai quotes.

Strategic Implications and Payment Mechanism

Rosneft has emphasized its strategic partnership with India, highlighting ongoing collaborations in oil production, refining, and trading. The company maintains that its commercial valuation approaches are consistent across private and state-controlled entities.

To facilitate the rouble-based transactions, Reliance will utilize India’s HDFC Bank and Russia’s Gazprombank, though specific details of the payment mechanism remain undisclosed. Both HDFC Bank and Gazprombank declined to comment on the arrangement.

Reliance’s strategic pivot to rouble payments signifies a broader trend of diversifying trade mechanisms to mitigate the impact of Western sanctions. As global trade continues to adapt to geopolitical shifts, this deal marks a pivotal moment in the India-Russia energy partnership, potentially setting a precedent for future international trade agreements.

[youthchronical]

Germany will keep Russian oil giant Rosneft subsidiaries under its control for another 6 months - Times of India

BERLIN: The German government said Friday it will keep two subsidiaries of Russian oil giant Rosneft under the control of German authorities for another six months. The government announced a year ago that it was putting Rosneft Deutschland GmbH and Rosneft Refining and Marketing GmbH under the administration of Germany‘s Federal Network Agency. In March, a German federal court threw out…

[worldnewsuk]

Russian oil discount shrinks 87% to $4/barrel as sellers game shipping, insurance to skirt G7 price cap - Times of India

NEW DELHI: The love affair with Russian oil appears to be losing its charm for Indian refiners as discounts have shrunk to $4 per barrel from peaks of $25-30, with sellers going dark on shipping rates to cover the gap with benchmark Brent crude and skirt western price cap, people in the know told TOI.Russian crude now accounts for about 40% of India’s total oil imports, up from less than 2% in…

[newnewz]

Russian energy giant Rosneft appoints first Indian on its board

G K Satish, a former Indian Oil Corporation director, is one of the three new faces appointed to the 11-strong board of directors of Rosneft.

NEW DELHI: Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India.

G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm.

Satish, 62, is the first Indian to be appointed to the board of Rosneft.

Rosneft has partnerships with Satish’s former company in oil and gas fields in Russia.

It also sells crude oil to IOC and other Indian firms and has in recent months started shipping naphtha to Gujarat refiners.

His appointment assumes significance as Rosneft is now eyeing more deals with Indian firms including the sale of liquefied natural gas (LNG).

Satish, who has deep insight into the Indian oil and gas market and has expertise in petroleum product marketing, petrochemicals, LNG and international trade, is one of the five independent directors on the Rosneft board.

During his stint at the IOC board beginning September 1, 2016, Satish was also chairman of IndianOil Adani Gas Pvt Ltd — the joint venture IOC had formed with Adani Group for retailing CNG and piped cooking gas.

That venture helped Adani Group catapult into city gas and it is now the biggest operator.

Rosneft said its shareholders at the annual general meeting on June 30 elected a new board of directors consisting of 11 members.

Igor I Sechin, a confidant of Russian President Vladimir Putin, continues to be the CEO and chairman of the management board of Rosneft.

Other members appointed include “Govind Kottis Satish, Managing Director, Value Prolific Consulting Services Pvt Ltd (ValPro),” it said.

ValPro is the firm that Satish joined as Managing Director in 2022.

ValPro advises on mergers and acquisitions and investment banking.

Former IOC chairman M A Pathan is on its board of advisor and its top management include former IOC executives.

Russia sells about 2 million barrels per day of crude oil or 100 million tonne on an annualised basis, to Indian firms.

Rosneft has a term deal to sell 6 million tonne a year of crude oil to Satish’s former company and is eyeing similar deals with other state-owned refiners including Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL).

Rosneft is also a majority owner of Nayara Energy, which operates a 20 million tonne a year refinery at Vadinar in Gujarat and owns over 6,300 petrol pumps in the country.

IOC alongside Bharat PetroResources Ltd (a unit of BPCL) and Oil India Ltd in 2016 bought a 23.9 per cent stake in Rosneft’s Vankor oilfield for USD 2.02 billion.

The consortium also took a 29.9 per cent stake in a separate Taas-Yuryakh oilfield in East Siberia for USD 1.12 billion.

IOC is India’s largest importer of Russian oil and the only company with a long-term delivery deal in place with Rosneft.

Rosneft board includes representatives from Qatar and the Philippines. “Mohammed Bin Saleh Al-Sada (chairman of the board of trustees of Dohal University of Science and Technology) has been elected Chairman of Rosneft Oil Company Board of Directors,” Rosneft said.

[astratv]

Gazprom: Απαγόρευσαν στους εργαζόμενους να ταξιδεύουν στο εξωτερικό

Gazprom και Rosneft έδωσαν εντολή στους εργαζόμενους να μην ταξιδεύουν. Μάλιστα, ένας υπάλληλος στα γραφεία του ρωσικού ενεργειακού κολοσσού Gazprom στην Αγία Πετρούπολη υποστήριξε ότι η διεύθυνση είπε σε αυτόν και τους συναδέλφους του ότι απαγορεύεται να ταξιδέψουν στο εξωτερικό, «ακόμη και στην Τουρκία». Η απαγόρευση ισχύει και για στενούς συγγενείς εργαζομένων της Gazprom.«Μας έχουν…

[russianvibesblog]