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1 min read
Reliance Industries shares slip by 1% after profit decline in Q2
Shares of Reliance Industries Ltd fell by over 1% after reporting a net profit decline of 5% in the…
3 mins read
India imported USD 2.8 bn worth of crude oil from Russia in July
India, the world's third largest oil consuming and importing nation, in July bought USD 2.8 billion…
PTI
1 min read
India is buying the most US oil in almost a year as sanctions on Russian energy bite
Indian refiners see more WTI Midland crude oil being used in the country in coming months, sources …
Yuheng Zhan
2 mins read
The US is sending less natural gas to Europe, complicating Europe's plans to cut off Russian gas
Last year, Europe still imported about 15% of its total gas supply from Russia, with about 9% comin…
Huileng Tan
2 mins read
A former Lukoil boss said an EU ban on Russian oil would bring the worst outcome for both sides
A former boss of Russia's second largest oil group said an EU ban would be "a shock for everyone. R…
Hamza Fareed Malik
2 mins read
Japan and the UK thrash out plans to cut Asia's reliance on Russian oil, as sanction-hit Moscow hunts for new buyers
Russia is increasingly looking to export its oil to Asia, as Western buyers shun supplies from the …
Harry Robertson
2 mins read
The EU's energy plan that cuts reliance on Russian gas will cost it an extra $200 billion by 2030 unless it shifts to cleaner sources of power, a think tank says
Cutting reliance on Russian gas will cause prices to spike and will cost the EU around $250 billion…
Hamza Fareed Malik
2 mins read
Germany will stop buying Russian coal and oil this year to cut its reliance on the country, the deputy finance minister says
Russia previously supplied 40% of Germany's coal and 40% of its oil, deputy finance minister Joerg …
Zahra Tayeb
2 mins read
Spain can solve the problem of Europe's reliance on Russian natural gas, its prime minister says
Pedro Sanchez pointed out that Spain has 37% of the EU's total capacity for regasification — which …
Zahra Tayeb
1 min read
Germany just approved a $180 billion fund designed to reduce the nation's reliance on Russian energy supply
Germany's expansion of renewables is "even more topical and urgent" after Russia invaded Ukraine, F…
Carla Mozée
2 mins read
The invasion of Ukraine has been a 'harsh wake-up call' for countries dependent on Russian energy, the UK's energy minister said
Russia's invasion of Ukraine has accelerated changes in the global energy market that were already …
Grace Dean
2 mins read
Europe's reliance on Russian gas imports has become a problem amid the Ukraine war. Now, it's looking to Africa for alternatives.
Algeria already supplies gas to Europe via three pipelines, one of which goes to Italy. Two other p…
Huileng Tan
4 mins read
RIL’s Q3 earnings to be led by consumer biz, refining margins likely to remain under pressure
Reliance Industries is expected to see a subdued third quarter, with a possible sequential fall in …
1 min read
Moscow's ties to Beijing are paying off as Russian firms flourish amid lucrative deals with China
Moscow and Beijing have touted a "no limits" partnership as the war in Ukraine drags on, and trade…
Yuheng Zhan
1 min read
European natural gas soars over supply disruptions as Ukraine blocks key route and Russia retaliates against sanctions
Ukraine blocked a route that supplies about 8% of Russian gas to Europe and blamed interference by …
Hamza Fareed Malik
1 min read
20 European natural gas buyers open Gazprombank accounts to pay for Russian gas in rubles, report says
Russia had halted gas supplies to Poland and Bulgaria in late April after they failed to pay in rub…
Grace Dean
2 mins read
Russia is turning off some of Germany's gas supplies — but the country isn't likely to feel a huge hit
Germany has said that Russian imports could fall to make up just 10% of its natural gas consumption…
Grace Dean
1 min read
EU asks people to use less air conditioning, drive slower, and work from home to help reduce reliance on Russian energy
In a nine-step plan, entitled "Playing My Part," the EU urged people to consume less energy to help…
Sophia Ankel
5 mins read
Decades of leaning on Russia forces Germany into a perilous decision: continue to buy Russian oil or risk economic catastrophe
Russia supplied 30% of Germany's energy needs last year. Germany needs to keep the lights on, but d…
Ben Winck
2 mins read
Angela Merkel condemns Putin's 'barbaric' war in Ukraine after facing criticism for ramping up Germany's reliance on Russian energy
Merkel, who has faced criticism over her handling of relations with Putin, described the Ukraine co…