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The French oil major has said it would no longer enter into or renew the existing contracts to buy Russian crude oil and petroleum products, with the aim of halting all purchases by the end of 2022.
In 2009, Russia produced 12% of the world's oil and had a similar share of global oil exports. [4] Russia produced an average of 10.83 million barrels (1,722,000 m 3) of oil per day in December 2015. [5] In June 2006, Russian crude oil and condensate production reached the post-Soviet maximum of 9.7 million barrels (1,540,000 m 3) per day.
Russian oil exports by destination in 2020. On 7 March 2022, German chancellor Olaf Scholz and other European leaders pushed back against the call by the US and Ukraine to ban imports of Russian gas and oil because "Europe's supply of energy for heat generation, mobility, power supply and industry cannot be secured in any other way".
But that crude oil also comes from places like oil fields in western Siberia. Russia accounted for 11% of crude oil imports to the U.S. between January and October last year, surpassing even Saudi ...
Sanctions on refined oil products were effected on 5 February 2023 [5] and apply to the following Russian oil products falling under combined nomenclature code 2710, [6] being "Petroleum oils and oils obtained from bituminous minerals (excluding crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic ...
Since Russia’s full scale war on Ukraine, India had steadily increased its purchases of discounted oil Russian oil imports to India plummet to seven-month low as New Delhi turns to Saudi Arabia ...
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2022 inflation surge.
Surgutneftegaz's Kirishi oil refinery in Western Russia raised oil processing by almost 8% on Jan 1-21 from Dec. 1-27, according to one of the sources. Russia is one of the world's largest ...