Etiqueta: India
Indian state refiners may buy Mideast spot oil to replace Russian shortfall
Indian state refiners are considering tapping the Middle East crude market as supply from their top supplier Russia has fallen, refining sources said. The 3 large state refiners- Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum, are short of 8-10 million barrels of Russian oil for January loading, the sources told Reuters.
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India Is Now Russia’s No. 2 Supplier of Restricted Technology
India has surged to become the second-biggest supplier of restricted critical technologies to Russia, US and European officials said, highlighting the challenge in efforts to choke off exports fueling Russia’s war machine – Bloomberg.
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India surpasses China to become Russia’s top oil buyer in July
India overtook China as the world’s biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed. Russian crude made up a record 44% of India’s overall imports last month, rising to a record 2.07 million barrels per day, 4.2% higher than in June and 12% more than a year ago, data on Indian shipments from trade and industry sources showed.
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