Latest news with #Azeri
Time of India
2 days ago
- Business
- Time of India
Indian refiners look more widely for oil after EU's Russia curbs
Oil refiners in India, the biggest importer of Russian crude, may be looking at diversifying some buying away from Moscow after fresh European Union sanctions on the Kremlin amid the war in Ukraine. Local processors are exploring options on some inputs, although it's too early to say that they've switched out of typical Russian supply in a major way, according to traders and refinery executives, who asked not to be identified discussing private matters. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Management Degree Finance others Leadership Product Management Technology Project Management Data Analytics Data Science Others CXO Digital Marketing Design Thinking Public Policy Data Science PGDM MBA Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details The global oil market is assessing the fallout from the EU's latest wave of curbs, which included sanctions against a major Indian refiner that's part Russian-held, a lower price cap, as well as imports of petroleum products made from Moscow's crude. At the same time, investors are also contending with moves by OPEC+ to restore shuttered production, and the falllout from the US's multi-front trade war. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Glīd Technologies Delivers: The World's First Autonomous Dual-Mobile Road-to-Rail Platform - TechBullion TechBullion Undo Indian refiners are now reaching out more widely for crudes, with supplies being bought from places including Azerbaijan and Nigeria, as well as the United Arab Emirates, according to the traders. Like all major economies, India typically sources oil from a wide array of countries. Among recent purchases, state-backed Mangalore Refinery & Petrochemicals Ltd. sought crude for late August to September delivery to New Mangalore, the traders said. That's prompter-than-usual, they said, with the refinery eventually taking about 1.3 million barrels of Azeri oil. That's also a type not typically bought by Indian processors. Live Events Elsewhere, Hindustan Petroleum Corp. purchased West African crudes including Nigeria's Bonny Light, Egina and Qua Iboe. In addition, private refiner Reliance Industries Ltd. bought Abu Dhabi's flagship Murban grade — a premium crude that's typically costlier compared with its staple diet of heavy Russian and Middle Eastern crudes.
The Sun
4 days ago
- Politics
- The Sun
Russia fires TASS executive after Azerbaijan visit
MOSCOW: Russia dismissed a senior executive of the TASS state news agency on Friday after he attended an event hosted by the president of Azerbaijan, whose relations with Moscow have deteriorated in recent months. Mikhail Gusman, who oversaw international relations at TASS as first deputy CEO, interviewed world leaders on his own television show and moderated a meeting last month between President Vladimir Putin and international news agencies. Earlier this month, Gusman caused a stir among Russian bloggers supporting Moscow's war in Ukraine when he attended a media forum alongside Ukrainian journalists in the capital of Nagorno-Karabakh, a region Azerbaijan retook from Armenia in 2023. At the forum, he praised Azerbaijan for maintaining relations with a wide range of countries. Azerbaijan's President Ilham Aliyev told a Ukrainian journalist at the same forum that Ukrainians should never accept occupation. Gusman's dismissal was announced in a brief statement on the government's website which did not give a reason. Some Russian media welcomed the move, labelling Gusman, who was born in Azerbaijan to a Soviet navy doctor, an Azeri spy. 'That's it. Azeri spy Gusman has been fired from his position as the first deputy CEO of TASS,' said the nationalist Telegram channel Mnogonational, which has about 400,000 subscribers. Relations between Russia and its ex-Soviet neighbour Azerbaijan have sharply deteriorated in recent months after an Azerbaijani passenger plane flying to southern Russia crashed last December, killing 38 people on board. Aliyev has said he wants Russia to publicly acknowledge that it accidentally shot down the plane and to punish those responsible. Moscow has not done that, although President Vladimir Putin has apologised to Aliyev over the incident. Tensions escalated further after two Azerbaijani men died in Russian custody following their arrests during police raids as part of a murder investigation. Azerbaijan then arrested Russian state media journalists in a move seen as retaliation. In a statement, TASS CEO Andrei Kondrashov thanked Gusman for his 30 years of service with the agency. Gusman did not immediately respond to a Reuters request for comment on whether his dismissal was linked to the Azerbaijan trip. - Reuters
Straits Times
5 days ago
- Politics
- Straits Times
Russia fires TASS news agency executive after Azerbaijan visit
FILE PHOTO: A view shows the logo of the Russian news agency TASS at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Maxim Shemetov/File Photo MOSCOW - Russia dismissed a senior executive of the TASS state news agency on Friday after he attended an event hosted by the president of Azerbaijan, whose relations with Moscow have deteriorated in recent months. Mikhail Gusman, who oversaw international relations at TASS as first deputy CEO, interviewed world leaders on his own television show and moderated a meeting last month between President Vladimir Putin and international news agencies. Earlier this month, Gusman caused a stir among Russian bloggers supporting Moscow's war in Ukraine when he attended a media forum alongside Ukrainian journalists in the capital of Nagorno-Karabakh, a region Azerbaijan retook from Armenia in 2023. At the forum, he praised Azerbaijan for maintaining relations with a wide range of countries. Azerbaijan's President Ilham Aliyev told a Ukrainian journalist at the same forum that Ukrainians should never accept occupation. Gusman's dismissal was announced in a brief statement on the government's website which did not give a reason. Some Russian media welcomed the move, labelling Gusman, who was born in Azerbaijan to a Soviet navy doctor, an Azeri spy. "That's it. Azeri spy Gusman has been fired from his position as the first deputy CEO of TASS," said the nationalist Telegram channel Mnogonational, which has about 400,000 subscribers. Relations between Russia and its ex-Soviet neighbour Azerbaijan have sharply deteriorated in recent months after an Azerbaijani passenger plane flying to southern Russia crashed last December, killing 38 people on board. Top stories Swipe. Select. Stay informed. Singapore SMRT to pay lower fine of $2.4m for EWL disruption; must invest at least $600k to boost reliability Singapore MRT service changes needed to modify 3 East-West Line stations on Changi Airport stretch: LTA Asia Live: Thailand-Cambodia border clashes continue for second day Singapore Vapes: The silent killer hiding in the pocket Singapore Vape disposal bins at 23 CCs for users to surrender e-vaporisers without facing penalties Singapore Fine for couple whose catering companies owed $432,000 in salaries to 103 employees Singapore Tipsy Collective sues former directors, HR head; alleges $14m lost from misconduct, poor decisions Singapore Kopi, care and conversation: How this 20-year-old helps improve the well-being of the elderly Aliyev has said he wants Russia to publicly acknowledge that it accidentally shot down the plane and to punish those responsible. Moscow has not done that, although President Vladimir Putin has apologised to Aliyev over the incident. Tensions escalated further after two Azerbaijani men died in Russian custody following their arrests during police raids as part of a murder investigation. Azerbaijan then arrested Russian state media journalists in a move seen as retaliation. In a statement, TASS CEO Andrei Kondrashov thanked Gusman for his 30 years of service with the agency. Gusman did not immediately respond to a Reuters request for comment on whether his dismissal was linked to the Azerbaijan trip. REUTERS
Yahoo
5 days ago
- Politics
- Yahoo
Russia fires TASS news agency executive after Azerbaijan visit
By Gleb Bryanski MOSCOW (Reuters) -Russia dismissed a senior executive of the TASS state news agency on Friday after he attended an event hosted by the president of Azerbaijan, whose relations with Moscow have deteriorated in recent months. Mikhail Gusman, who oversaw international relations at TASS as first deputy CEO, interviewed world leaders on his own television show and moderated a meeting last month between President Vladimir Putin and international news agencies. Earlier this month, Gusman caused a stir among Russian bloggers supporting Moscow's war in Ukraine when he attended a media forum alongside Ukrainian journalists in the capital of Nagorno-Karabakh, a region Azerbaijan retook from Armenia in 2023. At the forum, he praised Azerbaijan for maintaining relations with a wide range of countries. Azerbaijan's President Ilham Aliyev told a Ukrainian journalist at the same forum that Ukrainians should never accept occupation. Gusman's dismissal was announced in a brief statement on the government's website which did not give a reason. Some Russian media welcomed the move, labelling Gusman, who was born in Azerbaijan to a Soviet navy doctor, an Azeri spy. "That's it. Azeri spy Gusman has been fired from his position as the first deputy CEO of TASS," said the nationalist Telegram channel Mnogonational, which has about 400,000 subscribers. Relations between Russia and its ex-Soviet neighbour Azerbaijan have sharply deteriorated in recent months after an Azerbaijani passenger plane flying to southern Russia crashed last December, killing 38 people on board. Aliyev has said he wants Russia to publicly acknowledge that it accidentally shot down the plane and to punish those responsible. Moscow has not done that, although President Vladimir Putin has apologised to Aliyev over the incident. Tensions escalated further after two Azerbaijani men died in Russian custody following their arrests during police raids as part of a murder investigation. Azerbaijan then arrested Russian state media journalists in a move seen as retaliation. In a statement, TASS CEO Andrei Kondrashov thanked Gusman for his 30 years of service with the agency. Gusman did not immediately respond to a Reuters request for comment on whether his dismissal was linked to the Azerbaijan trip.
Khaleej Times
5 days ago
- Business
- Khaleej Times
Oil prices gain on US trade optimism, drop in crude inventories
Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures had gained 52 cents, or 0.76%, to $69.03 a barrel by 1040 GMT. U.S. West Texas Intermediate crude futures climbed 60 cents, or 0.9% to $65.85 per barrel. "The U.S. crude inventory draw and the trade efforts are adding some support to prices," said Janiv Shah, an analyst at Rystad. Two European diplomats said on Wednesday that the EU and the United States were moving towards a trade deal that could include a 15% U.S. baseline tariff on EU imports and possible exemptions, potentially paving the way for another major trade agreement following the Japan deal. On the supply side, U.S. Energy Information Administration data on Wednesday showed U.S. crude inventories fell last week by 3.2 million barrels to 419 million barrels, exceeding analysts' expectations in a Reuters poll for a 1.6 million-barrel draw. Oil had also seen some support from a suspension of Azeri crude exports from the Turkish port of Ceyhan and a brief halt to loadings at Russia's main Black Sea ports which has since been resolved. BP said that organic chlorides were detected in some of the oil tanks in the terminal at Ceyhan, adding that oil loading continued from some of the tanks with chloride levels assessed to be within normal specifications, while export activities via the BTC pipeline also continued. But analysts expect oil price gains to remain limited. "Uncertainty over U.S.-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities, predicting WTI would likely remain range-bound between $60 and $70 a barrel. Russia and Ukraine held peace talks in Istanbul on Wednesday, discussing further prisoner swaps, though the two sides remain far apart on ceasefire terms and a possible meeting of their leaders. "Next to watch would be the demand indicators as we are in the peak season and any upside or downside would impact refining margins," Shah added.
