Shell in talks with Indian consortium to sell Russian LNG plant stake: sources
2 years, 6 months ago

Shell in talks with Indian consortium to sell Russian LNG plant stake: sources

The Hindu  

Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia, three sources told Reuters, highlighting India's willingness to step into the space left by Western companies following Moscow's invasion of Ukraine. The sources said Shell has recently entered into talks with a group of Indian companies, including ONGC Videsh and Gail, over its 27.5% stake in the Sakhalin-2 LNG plant on Russia's eastern flank. The Indian government has also asked state-run energy companies to look into buying Russian assets from European oil majors including BP, Reuters reported last month. India’s LNG plans Shell is also asking the Indian group for separate bids for long-term deals it has with Sakhalin-2 to supply the consortium with LNG cargoes and crude oil, two of the sources said.

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History of this topic

Rosneft, Reliance agree biggest ever India-Russia oil supply deal: Reports
1 week, 5 days ago

Rosneft, Reliance agree biggest ever India-Russia oil supply deal: Reports

Deccan Chronicle  

Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today's prices. The company declined …

Exclusive-Rising costs squeeze intermediaries out of thriving Russian oil trade with India
2 weeks, 5 days ago

Exclusive-Rising costs squeeze intermediaries out of thriving Russian oil trade with India

Live Mint  

By Nidhi Verma NEW DELHI/MOSCOW - Three trading houses have become dominant sellers of Russian oil to India as many smaller players dropped out of the business due to high funding costs in Russia and lack of access to Western funds, according to data and six trading sources. Traders such as Dubai-based Starex Trading and Pontus Trading, which were large …

Russia’s crude oil and LNG shipments to Asia slip slightly in 2024: Russell
3 weeks ago

Russia’s crude oil and LNG shipments to Asia slip slightly in 2024: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, Dec 3 - Asia's imports of Russian crude oil and liquefied natural gas are set to log small declines this year and while coal had a bigger drop, there's little evidence that Western sanctions are working well. In barrels per day terms, Asia's seaborne imports from Russia are likely to come in around 3.22 million …

ONGC’s overseas arm retakes 20% stake in Sakhalin-1 oil, gas fields
1 year, 11 months ago

ONGC’s overseas arm retakes 20% stake in Sakhalin-1 oil, gas fields

Live Mint  

Oil and Natural Gas overseas arm, ONGC Videsh Ltd, has re-taken 20 per cent stake in the Sakhalin-1 oil and gas fields in the far east region of Russia, said an official on Monday. Production from Sakhalin-1 stopped in April 2022 after Exxon Neftegaz declared force majeure at the project in response to international sanctions imposed on Russia following its …

Russia defaults on LNG supplies to India
2 years, 5 months ago

Russia defaults on LNG supplies to India

The Hindu  

Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. India’s largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas per annum from a Singapore-based unit of Russian gas …

Shell to sell Russian retail stations, lubricant business to Lukoil
2 years, 7 months ago

Shell to sell Russian retail stations, lubricant business to Lukoil

Live Mint  

Shell PLC has agreed to sell its Russian retail-station and lubricants business to oil giant Lukoil PJSC, the latest Western company to find a local buyer for its planned Russia exit. The deal for the business, called Shell Neft LLC, includes 411 retail stations in Russia and a lubricants-blending plant near Moscow. Last week, Shell said it took a $3.9 …

Govt asks state-run petroleum firms to consider buying Russian oil assets
2 years, 7 months ago

Govt asks state-run petroleum firms to consider buying Russian oil assets

The Hindu  

The Union government has asked the state-run energy companies to evaluate the possibility of buying European oil major BP’s stake in sanctions-hit Russian firm Rosneft,” two people familiar with the matter said. The oil ministry last week conveyed its intent to ONGC Videsh Limited, Indian Oil Corporation, Bharat Petro Resources Limited, Hindustan Pertoleum’s subsidiary Prize Petroleum Limited, Oil India Limited …

India's oil crisis rises: ONGC struggles to move Russian oil as sanctions bite
2 years, 7 months ago

India's oil crisis rises: ONGC struggles to move Russian oil as sanctions bite

Hindustan Times  

India's Oil and Natural Gas Corp is struggling to find a vessel to ship 700,000 barrels of crude from Russia's Far East, in a growing sign that complex trades involving one of Moscow's biggest partners are being interrupted by Western sanctions, sources say. Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been …

India buying up Russian oil cargoes at a discount while European nations avoid due to sanctions: Report
2 years, 9 months ago

India buying up Russian oil cargoes at a discount while European nations avoid due to sanctions: Report

Op India  

Amid the Western sanctions against Russia, there is a looming energy crisis and inflation issue all over the world. Now, a report in Financial Times has stated that while European buyers avoid Russian cargoes of oil, India has almost quadrupled its purchase of Russian crude in recent days. The report in FT states that Russia has sent over 360,000 barrels …

Energy giant Shell announces it will sever ties with Russia over invasion of Ukraine
2 years, 9 months ago

Energy giant Shell announces it will sever ties with Russia over invasion of Ukraine

ABC  

Energy giant Shell says it will stop buying Russian oil and natural gas and shut down its service stations, aviation fuels and other operations in the country amid international pressure for companies to sever ties over the invasion of Ukraine. Key points: Shell originally planned to continue its operations in Russia, the world's second-largest oil producer It was criticised by …

Shell to stop buying Russian crude oil, gas over Ukraine invasion
2 years, 9 months ago

Shell to stop buying Russian crude oil, gas over Ukraine invasion

Al Jazeera  

The energy giant joins a raft of other corporations, including BP, to exit from Russia over Moscow’s invasion of Ukraine. Shell has apologised for buying Russian crude oil last week and said it would withdraw completely from any involvement in Russian hydrocarbons over the country’s invasion of Ukraine. “We are acutely aware that our decision last week to purchase a …

Ukraine war: Shell ends Russian investments as Britain sanctions Moscow banks
2 years, 9 months ago

Ukraine war: Shell ends Russian investments as Britain sanctions Moscow banks

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We are shocked by the loss of life in …

Shell to pull out of energy investments in Russia over war
2 years, 9 months ago

Shell to pull out of energy investments in Russia over war

Associated Press  

LONDON — Global oil and gas giant Shell said Monday that it is pulling out of Russia as President Vladimir Putin’s invasion of Ukraine continues to cost the country’s all-important energy industry foreign investment and expertise. Shell announced its intention to exit its joint ventures with Russia’s state-owned energy giant Gazprom and related entities, including a 27.5% stake in a …

Shell pulls out of energy investments in Russia over war
2 years, 9 months ago

Shell pulls out of energy investments in Russia over war

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Western companies in Russia’s oil and gas sector
2 years, 9 months ago

Western companies in Russia’s oil and gas sector

Al Jazeera  

Some facts about exposure of Western oil and gas companies to Russia. The following are some facts about the exposure of Western oil and gas companies to Russia, which calls its actions in Ukraine a “special operation”: BP The British oil company has a 19.75 percent stake in Rosneft, headed by Igor Sechin, a longstanding ally of President Vladimir Putin. …

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