India is considering using gold to temporarily settle oil trades with Iran more »

Iran is willing to accept payments in rupee for the $12-billion worth of crude it sells to India but the RBI is opposing the idea. more »

Russia extracted 10.145 million barrels of oil per day last year, a record since the collapse of the Soviet Union, 23% more than Saudi Arabia. more »

Reuters:   Russia, the world's top crude exporter, said it had begun scheduled oil shipments to China via an East Siberian link on Saturday as the Kremlin cements ties with its energy-hungry neighbor.So far, Russia's 50,000-km oil pipeline network has be… more »