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In pipelines we trust
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
Drone power: Ukraine escalates its war on Russian oil
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
How Russia gains from the Hormuz supply shock
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
India taking pole position on oil demand growth
The country’s rapidly expanding economy is boosting its consumption of oil as demand for the fuel slows elsewhere in the world
Letter from Asia: The nuanced India-Russia oil picture
The South Asian consumer’s next move could tighten the Middle East oil market overnight
Arctic LNG 2 adds Arc7 to its shadow fleet
Having found a steady buyer in China for its sanctioned gas, the Russian project is positioned for nearly year-round operations, yet its 11-vessel ‘shadow fleet’ is still insufficient to achieve anywhere near capacity utilisation.
Indian refiners prove their adaptability
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
India’s refining project strengthens ties to Mongolia
The Central Asian country’s first oil refinery is being funded by a $1.7b line of credit from New Delhi, but routes in and out of the country remain controlled by Russia and China
Explainer: What do Russia’s oil giants own overseas?
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Tax policy will shape Russia’s oil future
The consensus among market observers is that the country’s oil output will fall in the long term. Yet few recognise how Moscow’s shifting tax regime is designed to keep the next barrel commercially viable
Indian minister of petroleum and natural gas Hardeep Singh Puri
India Russia
Simon Ferrie
6 September 2022
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India defiant over Russian crude

Oil minister pushes back against criticism of his country’s approach to Russia

“We will buy [oil] from Russia; we will buy from wherever,” Hardeep Singh Puri, Indian minister of petroleum and natural gas, declared during a televised interview at the Gastech conference in Milan. The minister emphasised his “moral duty to my consumer” and stated his country has no conflict with Russia. Refusing to be drawn on the morality of continuing to purchase Russian crude, Puri stated that “it is a question of energy” and that he has a “democratic duty... what we have to do domestically, is insulate our own population" against inflationary pressures and the "interlinked crises of fuel, food and fertiliser” availability. India will therefore consider the G7 proposals to cap Russian

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