#Russian oil

[ernestbruce]

Ukraine, please, please, please continue to bomb the shit out of those Russian refineries

do not listen to those too cowardly to fight with you against the shitface that is Putin

BOMB ALL THE FUCKING REFINERIES!!

[kp777]

"This would incentivize those companies to drop their Russian suppliers, while signaling to other companies looking to capitalize on cheap Russian oil that their products are not welcome in the U.S.," said Global Witness.

[sensenmaedchen]

genuine advice to anyone currently gearing up for a very cold winter, whether in england, hungary or elsewhere

-wool blankets.

-if you don’t have one already, get a kettle.

-if you don’t have one already, get a hot water bottle or (if that’s a thing) cherry-seed sack thing also used for heat. you can fill hot water bottles with the kettle. cherryseed pillows can be heated in the oven.

-ensure your windows close properly…

Good luck! See you in spring. Additions to this list welcome.

[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.

[head-post]

Russia has an unprecedented amount of money in its treasury

A new CREA analysis shows that Russia has entered 2024 with an unprecedented amount of money in state coffers, helped by a record $37 billion in crude oil sales to India last year, CNN reports.

In a new analysis, experts concluded that some of the crude oil was refined by India and then exported to the US in the form of petroleum products worth more than $1 billion.

According to an analysis by the Centre for Research on Energy and Clean Air (CREA), exclusively provided to CNN, this stream of payments, which ultimately benefits Moscow, is because India has increased its purchases of Russian oil by more than 13 times its pre-war volumes. This is tantamount to New Delhi, a strategic partner of the US, replacing Western buyers with oil purchases reduced due to sanctions imposed over the conflict in Ukraine.

The sale of Russian oil to India is entirely legal and not subject to sanctions, but in examining the shipping route, experts have suggested that this huge volume of shipments may involve a so-called “shadow fleet” of tankers specifically created by Moscow to maximise the Kremlin’s profits.

Read more HERE

[faultfalha]

The trade winds of the Black Sea whispered tales of the strange and mysterious. The Ukraine Conflict and the resulting EU ban on Russian oil products had flung open the doors of opportunity. On the crest of a wave of ambition, product tanker orders surged from the east as merchants sought to capitalise on the situation. As the vessels plied their lucrative trade, the whispers amongst the shipping community grew louder. Rumours of hidden agendas and masked financiers spoke of shadowy figures seeking to further their own interests. It was said that the conflict was merely a public facade for a deeper, more complex system of power and influence. The new arms of the Black Sea, laden with the secrets of the deep, forged their own path amongst the choppy waters. These merchants of oil, and their hidden motivations, might soon become as legendary as the creatures that lurk in the depths beneath them.

[icecreamwithjackdaniels]

Vladimir Kush (Russian, b. 1965),"Stealthy Night"

[klassizismus]

Get Thee Behind Me, Satan, c. 1895, Ilya Repin 

[livemintvideos]

Russia's crude oil export to India surged to a new record in December 2022. Moscow has remained the top oil supplier of India for consecutive months. According to data from energy cargo tracker Vortexa, India imported crude oil from Russia 1 million barrels per day for the first time in December. Russia supplied 1.19 million bpd of crude oil to India in December alone. As per Vortexa report, it was the higher than 909,403 bpd of crude oil India imported from Russia in November and 935,556 bpd in October 2022. In this video, let's take a look at some of the causes that led to the increase in imports that we have seen.

[solcattus]

A sitting nude, c. 1900

By Victor Karlovich Shtemberg

[hezigler]

Dima and Elon’s Excellent Twitter Adventure - The Atlantic

[constanzarte]

Alexei Harlamoff, Summertime

[politicoscope]

No Oil to EU Even If Price Cap Is $200 Per Barrel (Russia)

No Oil to EU Even If Price Cap Is $200 Per Barrel (Russia)

Russia will not supply oil to European Union countries even if a price cap reaches $200 per barrel, a member of the State Duma’s (the lower house of parliament) Energy Committee told Izvestia. On December 2, EU members agreed to cap the price of Russian oil at $60 per barrel. The EU deliberately opted for a price cap that would benefit Russia, Deputy Director General of the National Energy…

[head-post]

Lukoil may sell region’s biggest refinery in Bulgaria

Representatives of PJSC Lukoil said they were considering selling the largest oil refinery in South-Eastern Europe and other assets in Bulgaria.

Earlier this year, Bulgarian lawmakers approved a proposal to phase out Russian oil imports, bringing the country in line with other European Union members. This month, the ruling coalition unveiled plans to end imports in March, prompting Neftochim, Lukoil’s refinery on the Black Sea coast, to start looking for alternative fuel sources.

Russia’s second-largest oil company is now reviewing its strategy in the wake of “discriminatory laws and other unfair, biased political decisions regarding refineries,” the producer said in a statement on Tuesday.

The Sofia government had already terminated Lukoil’s lease of the refinery port in July, and antitrust authorities earlier this year fined the company’s Bulgarian subsidiaries a total of 263 million leva ($146 million) for abusing its dominant position.

Read more HERE