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Russia and China to sign Power of Siberia-2 gas pipeline contract 'in near future', says Novak​

MOSCOW, May 17 (Reuters) - Russia and China expect to a sign a contract "in the near future" on the Power of Siberia-2 gas pipeline, which will carry Russian gas to China, Russian Deputy Prime Minister Alexander Novak was cited as saying by Interfax late on Thursday.

Russia has been in talks for years about building the Power of Siberia-2 pipeline to carry 50 billion cubic metres of natural gas a year from the Yamal region in northern Russia to China via Mongolia.

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Exclusive: India's Reliance to buy Russian oil in roubles, sources say​

NEW DELHI, May 28 (Reuters) - India's Reliance Industries (RELI.NS), opens new tab, operator of the world's biggest refining complex, has signed a one-year deal with Russia's Rosneft to buy at least 3 million barrels of oil a month in roubles, four sources aware of the matter told Reuters.
The shift to rouble payments follows Russian President Vladimir Putin's push for Moscow and its trading partners to find alternatives to the Western financial system to facilitate trade despite U.S. and European sanctions.

A term deal with Rosneft also helps privately run Reliance to secure oil at discounted rates at a time when the OPEC+ group of oil producers is expected to extend voluntary supply cuts beyond June.

The OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia is due to discuss the output cuts in an online meeting on June 2.

India, the world's third-biggest oil importer and consumer, has become the biggest buyer of seaborne Russian crude since the West halted purchases and imposed sanctions against Moscow in the aftermath of Russia's 2022 invasion of Ukraine. India has also paid for Russian crude in rupees, dirhams and Chinese yuan.

 
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Shadow Fleet Tankers Burning Dirty Fuel a Setback for Shipping's Clean-Up Efforts

LONDON, May 29 (Reuters) – The growing shadow fleet of tankers transporting sanctioned Iranian, Venezuelan and Russian oil is filling up with the cheapest fuel available, hindering industry efforts to use cleaner fuel to...
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EU Weighs Proposal to Sanction Russian Oil Tanker Insurer Ingosstrakh

(Bloomberg) — The European Union’s executive arm is examining the feasibility of a proposal by one of its member states to sanction Russia’s Ingosstrakh Insurance Co., as part of efforts...
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Uniper wins $14 billion arbitration ruling against Gazprom​

  • Tribunal allows Uniper to terminate dormant Gazprom contracts
  • Also awards Uniper with 13 billion euro damage title
  • Terminated contracts remove major risk for planned re-IPO
FRANKFURT, June 12 (Reuters) - German utility Uniper has won a multi-billion euro arbitration against former long-time supplier Gazprom (GAZP.MM), opens new tab, it said on Wednesday, allowing it to tear up dormant gas supply contracts and potentially setting a precedent for similar cases.

The ruling marks a landmark victory for Uniper, which had to be rescued by the German government in 2022 after Gazprom first cut and later suspended supplies, forcing the group to buy replacement volumes at sky-high prices on the spot market.

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