RUSSIAN FUEL
Russian passenger jet crashes flying empty near Moscow, killing its crew of 3
A Gazprom Avia Sukhoi Superjet 100, flying after repairs, crashed near Moscow, killing three. Investigations continue. Previous crashes include 2012 in Indonesia and 2019 at Sheremetyevo. Despite being hailed as an achievement, SSJ100 suffers safety issues, high maintenance costs, failing to attract Russian carriers and foreign customers, with efforts to market it abroad largely failing.
Indian state refiners in talks for long-term oil import deal with Russia, government source says
India's state refiners are in talks with Russia for a long-term oil import deal, with discussions ongoing regarding terms like payment currency, according to a government source. The negotiations involve state refiners collectively, while private refiners Nayara Energy and Reliance Industries have already secured term agreements for Russian oil imports.
Modi visit opens opportunities for India in Russian Arctic endowed with rare earth, crude
At their meetings, Modi and Russian President Vladimir Putin discussed optimum use of the Northern Sea Route (NSR) via the Arctic and possible use of nuclear-powered icebreakers of Rosatom in that terrain, ET has learnt.
India-Russia energy cooperation helped control fuel prices & inflation in India: PM Modi to Putin
PM Modi Putin meet: Indian Prime Minister Narendra Modi and Russian President Vladimir Putin held a formal dialogue at the 22nd Annual Bilateral Summit. PM Modi highlighted the benefits of India-Russia energy cooperation in controlling fuel prices and inflation in India, and noted that Russian manufacturing in India is creating jobs for Indian youth. Upon his arrival in Moscow, PM Modi received a Guard of Honour, and Putin warmly welcomed him.
India's diesel exports to Europe surge fourfold in June amid better margins
India's diesel exports to Europe surged fourfold in June to 119,400 barrels per day from 24,500 barrels per day in May, driven by better margins in the continent. Despite this, India's overall diesel exports fell 4% to 482,400 barrels per day. Europe received a quarter of India's diesel shipments, while supplies to Asia fell 10%. Overall refined product exports decreased by 5% to 1.19 million barrels per day. Reliance Industries and Nayara Energy are the biggest exporters, earning $29 billion from diesel exports in 2022-23, though revenues dropped to $22 billion in FY24.
Putin sees no need for nuclear weapons to win in Ukraine. But he's also keeping his options open
Russian President Vladimir Putin has issued a stern warning to NATO, cautioning against excessive military support for Ukraine, as it could escalate into a nuclear conflict with Russia. Despite Russia's current military advantage in Ukraine, Putin emphasized that nuclear weapons remain a viable option if Russia's sovereignty and territorial integrity are threatened. Recent Russian drills with tactical nuclear weapons underscore Moscow's readiness to respond to perceived Western provocations, including discussions of deploying NATO troops in Ukraine and supplying longer-range weapons to Kyiv. This nuclear rhetoric marks a dangerous escalation amid ongoing tensions in the region.
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Exam leaks: Russian hackers to coaching centres to one weak link
Desperate students, coaching centers, agents, 'solvers' and a kingpin- all of these factors are common to every case of exam paper leak that has recently been reported.
Russian satellite breaks up into 100 pieces; Here is what it means for Boeing and Sunita William's space project
A defunct Russian Earth observation satellite, the RESURS-P1, has fragmented into over 100 pieces of space debris. This event necessitated astronauts aboard the International Space Station to seek shelter for approximately one hour. The incident contributes to the growing issue of space junk orbiting Earth. The cause of the satellite's breakup, which had been declared non-functional since 2022, has not been disclosed yet.
Russian satellite breaks up in space, forces ISS astronauts to shelter
A Russian satellite, defunct in nature, has now broken up into a hundred pieces, forcing astronauts aboard the International Space Station to take shelter from the space jump already in the outer universe.
North Korea says it tested a new multiwarhead missile. South Korea says it's covering up a failure
North Korea announced a successful test of a multiwarhead missile aimed at enhancing its capability to overcome US and South Korean defenses. However, South Korea disputed this claim, asserting the missile launch had actually failed. North Korea's state media reported the test involved separating and guiding warheads accurately, showcasing progress in its missile development despite technical challenges. Analysts anticipate further tests to refine this technology, which includes decoys to evade missile defenses. The test coincides with heightened regional tensions, including North Korea's objections to US military presence and provocative actions toward South Korea.
North Korea says it tested a multiwarhead missile. Kim Jong Un covets the weapon to overwhelm US defenses
North Korea announced it successfully tested a multiwarhead missile, aiming to enhance its capability to overwhelm U.S. missile defenses. The launch tested separation and guidance control of individual warheads, which were accurately directed to targets and verified by radar. This test, North Korea's first known attempt at developing a multiwarhead missile, was seen as a significant step in Kim Jong Un's weapons modernization program. While South Korea initially assessed the launch as a failed hypersonic missile test, analysts suggest it was a preliminary evaluation of key MIRV subsystems. This development intensifies regional security concerns.
India and China top buyers of Russian fuel oil in May, LSEG data shows
In May, Russian seaborne fuel oil and VGO exports peaked at 4 million metric tons, with India and China as top destinations. The surge followed the European Union's embargo on Russian oil products, redirecting supplies to Asia. Notably, ship-to-ship loadings near Greece and Malta facilitated the transfer of cargoes destined for Asia.
Oil prices steady as markets weigh supply tensions, China economic recovery
Oil prices remained steady on Tuesday, balancing concerns over China's economic recovery, tensions in the Middle East, and Ukrainian attacks on Russian refineries.
India, Russia prepare to sign military logistics pact soon
The pact will streamline procedures for Russian and Indian military units participating in joint exercises, ensuring seamless operations, sources said. It may also enhance a collective Eurasian security framework amid rising geopolitical tensions and expanding the International North South Transport Corridor.
G7 leaders agree to lend Ukraine billions backed by Russia's frozen assets. Here's how it will work
The Group of Seven leaders have reached a historic agreement to provide a $50 billion loan to support Ukraine in its ongoing conflict with Russia. This loan will be backed by interest earned on profits from Russia's frozen central bank assets, with details currently being finalized at the G7 summit in Italy. President Joe Biden hailed the agreement as a crucial step in providing sustainable support for Ukraine, while Ukrainian President Volodymyr Zelenskyy expressed gratitude for the international assistance.
Refined Russian petro goods imports rise 14% in May
India's import of refined products from Russia increased by 14% in May, with naphtha imports tripling. State-run refiners brought in 77% more Russian products, but imports were lower than China and Europe.
OPEC+ says goodbye to its $100-a-barrel oil quest
The OPEC+ cartel appears to be shifting away from its pursuit of $100-a-barrel oil, announcing a deal to gradually increase production through 2025. This move could lower oil prices and ease global inflation, impacting market dynamics and Saudi Arabia's financial outlook as it seeks to balance grandiose spending plans with declining oil revenues.
India to get next-generation nuclear fuel, says Russian Nuclear Agency chief; calls nation a key partner
Atomic Energy Commission chairman Ajit Kumar Mohanty was hosted by the Russian Atomic Chief in Siberia's Tomsk region in Russia on Thursday. The Russian Atomic Chief showed Mohanty the fourth-generation site that will host the safest atomic reactor in history, RT-India reported.
India, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April, LSEG data shows
Crude oil Import: In April, India and Egypt were key destinations for Russian seaborne fuel oil and vacuum gasoil exports, with a total 10% decrease in exports due to maintenance and outages. The EU's embargo redirected Russian exports to Asia. Shipments to India rose while those to China decreased. Egypt saw increased fuel oil supplies for power generation.
America is joining its frenemies back in the fossil fuel club
US President Joe Biden imposed tariffs on Chinese clean technology imports to support the US clean technology industry against China's dominance.
Iran President's helicopter crash: Authorities dispatch forces to site after rescue teams detect 'fuel smell'
Iran's search operation for the crashed helicopter carrying President Ebrahim Raisi intensified, with the Iran Red Crescent and IRGC chief Major General Hossein Salami on-site in East Azerbaijan. The helicopter, which made a "hard landing," carried Raisi, Foreign Minister Hossein Amir-Abdollahian, and other officials. Several countries, including Russia and Turkey, have sent rescue teams and equipment to assist. The EU activated its rapid response mapping service, while Iran expressed gratitude for international support in the search and rescue efforts.
Putin says Russia wants a buffer zone in Ukraine's Kharkiv but has no plans to capture the city
Russian President Vladimir Putin stated during a visit to China that Russia's offensive in Ukraine's Kharkiv region aims to create a buffer zone without capturing the city. The offensive began on May 10 and led to intense fighting, displacing thousands. Ukrainian drone attacks on Crimea damaged infrastructure, including an airbase and power plant. Ukraine signed laws to increase troop numbers, allowing prisoners to join the army and imposing higher fines for draft dodgers. The conflict has resulted in casualties and damage on both sides, with Russia pushing for territorial gains.
Ukrainian strike on Crimea airbase destroys three Russian warplanes, satellite firm says
The company cited satellite imagery taken on Thursday as showing that two MiG-31 fighter jets and an Su-27 fighter jet had been destroyed. It said one MiG-29 fighter aircraft also appeared to have been damaged. Ukraine has not publicly claimed responsibility for striking the airbase.
Ukrainian troops pull out of some areas and Zelenskyy postpones foreign trips amid Russian offensive
U.S. Secretary of State Antony Blinken announced a $2 billion arms package for Ukraine during a visit to Kyiv, aimed at supporting Ukraine in its defense against a new Russian offensive. The package includes funds for medium- and long-term foreign military financing, with most of the money coming from a package approved last month by Congress. Blinken's visit comes as Ukrainian forces face increased pressure from Russian troops in the east. President Zelenskyy has postponed all his upcoming foreign trips in response to the escalating conflict.
Ukrainian drones strike Russian fuel depot, officials say
A Ukrainian drone attack caused a fire and damaged storage tanks at a fuel depot in Russia's Krasnodar region. The attack destroyed about six drones, with debris falling on a nearby refinery. The region's crisis administration reported that several tanks were damaged, but no injuries were reported. Drone attacks on Russian energy facilities have increased recently, with Kyiv officials stating they aim to undermine Russia's war effort in response to Moscow's strikes on Ukrainian energy infrastructure. The depot was last attacked on May 2, according to Russian state media.
India receives oil cargo in Russian SCF tanker after brief halt, sources say
A ship operated by Sovcomflot (SCF), a Russian shipping giant sanctioned by the U.S., discharged fuel oil at a western Indian port, signaling a resumption in the use of SCF vessels for supplying oil to Moscow's key market. The SCF Baltica, carrying 90,000 metric tons of fuel oil for Reliance Industries, was expected to depart after full discharge. Indian refiners, including Reliance, had been cautious about receiving cargoes on Sovcomflot vessels following U.S. sanctions imposed on the company.
China, India top buyers of Russian seaborne fuel oil, VGO in Feb, LSEG data shows
In February, China and India remained primary destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports, as they sought alternatives to crude oil. Russia redirected most of its fuel oil and VGO to Asia following the EU's oil embargo. Seaborne exports to India and China increased, while shipments to Turkey declined.
After bright flare on D-Street, OMC stocks may shed gains
A Rs 2 cut in prices of petrol and diesel per liter on March 15 is likely to reduce gross marketing margins by Rs 1.8-1.9 per litre or 30-45% from the current levels. Before the price cut, the per litre marketing margin was Rs 6.1 on petrol and Rs 3.5 on diesel on the spot basis and it was Rs 9.0 and Rs 2.6 in that order on quarter-to-date basis.
Ukrainian drones strike Russian iron ore plant
Two Ukrainian drones struck fuel facilities at a major Russian iron ore plant, with no injuries reported. The plant, owned by Metalloinvest, continued operations despite damage. Kursk governor Roman Starovoit confirmed the attacks and urged calm. Unverified footage showed smoke and damage. Ukraine's GUR military intelligence claimed responsibility. Metalloinvest stated the plant was functioning normally after the incidents. The attacks in the Kursk region's Zheleznogorsky district are part of ongoing Ukrainian drone strikes on Russian infrastructure.
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