Sri Lanka, battling the worst economic crisis in its history, is turning to Russian oil because it is cheaper, Nikkei Asia reports.

Data show Russian oil concealed in blended and refined gasoline, diesel and chemicals has made its way to the US from Indian refineries

Razon's Prime Infra Holdings will buy the majority stake from a company controlled by Dennis Uy, a close associate of outgoing Philippines President Rodrigo Duterte

The increased competition has accordingly narrowed the spread with European gas prices, which eased on less concerns over further Russian supply cuts

The government announced it would raise fuel prices after an agreement with the IMF that included an end to fuel subsidies, allowing the resumption of aid

GAIL has a long-term import deal with a unit of the Russian energy giant to buy an average 2.5 million tonnes of liquefied natural gas (LNG) per year

Heads of Australia's top power producer said they would step over an unpopular plan to split the group in two. The news is a triumph for climate activist and billionaire Mike Cannon-Brookes

Chinese companies implicated in a Russian-backed oil smuggling and money laundering network to buy Iranian oil will be subject to US sanctions.

India, the world's third biggest oil importer and consumer, ships in over 80% of its needs and wants to monetise its oil and gas resources to cut its import bill

Even for shipments arriving in July, industrial consumers are not placing orders, a Chinese trader said, as gas use has plunged due to the Covid-19 resurgence and weak manufacturing

Elizabeth Rosenberg, assistant secretary for Terrorist Financing and Financial Crimes, will be in India on what is seen as a US bid to try to temper India's purchases of Russian oil

Woodside Energy Group chief Meg O'Neill said the market would have to adjust to supply disruptions in the wake of sanctions on Russia for its war in Ukraine