oil

Russia's oil industry is facing challenges due to intensified Western sanctions.Secondary sanctions are spooking global banks, some of which are turning away from doing business with Russia.Russian banks and companies are exploring different ways to conduct cross-border payments. Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go.…

The US has urged Ukraine not to strike Russian oil refineries, fearing it could drive up prices and prompt retaliation, reports say.Ukraine responded that it won't stop these attacks, calling the refineries legitimate military targets.Ukraine has ramped up its attacks in recent months, targeting Russia's energy infrastructure. Thanks for signing up! Access your favorite topics…

Western sanctions against Russia haven't significantly hindered its wartime economy.  Analysts say the "porous" nature of sanctions has allowed Russia to sidestep restrictions.  Sources say additional sanctions could pick better targets to put the squeeze on Russia.  Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download…

Oil and gas facilities in Russia have caught fire in recent weeks following suspected drone attacks.In the latest attack, an oil refinery in the southwestern Volgograd region was ablaze on Saturday.Russia's air-defense systems have proven to be less effective against small drones. Thanks for signing up! Access your favorite topics in a personalized feed while…

Several oil and gas facilities in Russia have caught fire in recent weeks following suspected drone attacks.Ukraine appears to be targeting energy infrastructure to hamper Russian supply lines.Russia's air defense systems have proven to be less effective against small drones. Thanks for signing up! Access your favorite topics in a personalized feed while you're on…

Aliko Dangote is the richest person in Africa, data from the Forbes Billionaires Index shows.Dangote founded and chairs Dangote Cement, Africa's largest cement producer.After years of delays, he's opened a huge oil refinery in Nigeria. Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Africa's…

Despite a G7-imposed price cap and sweeping wartime sanctions, Russia has managed to keep its energy revenues humming thanks to a dark, or shadow, fleet of oil tankers.However, a recent incident in the Red Sea highlights some of the risks faced by dark fleet ships, which typically have opaque ownership and frequently change their vessel…

Russian oil cargoes are still sailing via the Red Sea to get to India, according to S&P Global.Iran-backed Houthi rebels have been attacking commercial ships in the Red Sea since November.Many commercial shipping lines and vessels have rerouted from the Red Sea to avoid getting caught in the attacks. Thanks for signing up! Access your…

Russia has overcome Western sanctions against its oil exports by diverting all the shipments east, a top Russian official said on Wednesday.The European Union was the single largest buyer of Russian crude oil and oil products before the invasion of Ukraine, accounting for nearly half of such exports, according to a Reuters compilation of data.However,…

Oil benchmarks have tumbled since the start of October, despite war breaking out in the Middle East. Worries about slowing demand and China's faltering economy have weighed on crude. The slump could drag down gas prices – and help the Fed win its battle against inflation. Loading Something is loading. Thanks for signing up! Access…