Mashreq Bank in Dubai declined a request to take payments from at least Indian two refiners in Emirati dirhams, forcing the buyers to pay for crude in US dollars, sources say
The unit aims to capture and store 3 million tonnes annually of CO2 and utilise 2 million tonnes a year by 2025, Sinopec said
"We're raising runs next month in preparation for a possible opening in exports," a state-run refiner official said.
The proposed legislation would impose penalties on countries that increase their imports of Russian oil, provoking tensions with India and China, The Economic Times said.
China's purchases have climbed in order to reap the benefits of a plunge in European buying as sanctions push Moscow in search of alternative markets.
Covid lockdowns could lead to China's oil demand contracting for the first time in two decades
India's crude oil flows from Russia have soared from 2% of its total imports to more than 12% since February – when Russia invaded Ukraine
India’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.
Russian leader condemned the West's idea for a price cap on Russian gas, saying it would lead to price rises and that global demand for Russian energy was high.