Indian Refiners Buy More US Crude Amid Tighter Russia Sanctions
India is looking to diversify its oil supplies as fresh US sanctions on Moscow threaten to dent Russian oil sales to the country. India is the world’s third-biggest oil importer and consumer
Houston: More than 2,50,000 barrels per day of US crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude.
India, the world’s third-biggest oil importer and consumer, is looking to diversify its oil supplies as fresh US sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude.
About 7.6 million barrels of oil, or 2,56,000 barrels per day (bpd), were headed to India on three very large crude carriers and three Suezmax vessels, according to ship tracking firm Kpler.
The ships, which were largely headed to India’s west coast, were chartered by Reliance Industries, Vitol, Equinor, and Sinokor, among others, according to data from financial firm LSEG.
India was the top buyer of Russian oil last year after other groups retreated from purchases following Western sanctions on Moscow for its invasion of Ukraine in February 2022.
Last month, the US tightened efforts to reduce Russia’s oil trade adding sanctions on state-owned shipping firm Sovcomflot and 14 crude oil tankers involved in Russian oil transportation.
Reliance, operator of the world’s biggest refining complex, will not buy Russian oil loaded on tankers operated by Sovcomflot after recent US sanctions, sources told Reuters last week.
More Indian refiners plan to shun Sovcomflot vessels, which may weigh on imports of Russian oil and leave Russia with fewer outlets for its flagship product, sources said.
This report is auto-generated from a syndicated feed
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.indiandefensenews.in/2024/03/indian-refiners-buy-more-us-crude-amid.html
- :is
- :not
- 000
- 14
- 2%
- 2022
- 250
- 26
- 300
- 400
- 50
- 6
- 60
- 7
- a
- According
- adding
- After
- Amid
- among
- and
- arrive
- AS
- barrels
- Biggest
- both
- buy
- BUYER..
- by
- carriers
- Center
- Chartered
- clear
- Coast
- color
- complex
- consumer
- country
- crude
- Crude oil
- data
- day
- defence
- Display
- diversify
- efforts
- enforcement
- Equinor
- February
- fewer
- financial
- Firm
- flagship
- following
- For
- fresh
- from
- Group’s
- headed
- highest
- HTML
- http
- HTTPS
- imports
- in
- india
- Indian
- industries
- invasion
- involved
- ITS
- jpg
- large
- largely
- Last
- Last Year
- Leave
- looking
- March
- May..
- million
- Month
- more
- Moscow
- name
- next
- of
- Oil
- on
- operated
- operator
- or
- Other
- Others
- Outlets
- per
- PHP
- plan
- plato
- Plato Data Intelligence
- PlatoData
- previous
- Product
- purchases
- recent
- reduce
- refining
- reliance
- reliance industries
- report
- Reuters
- Russia
- russia sanctions
- russian
- Russian oil
- s
- Said
- sales
- Sanctions
- set
- Shipping
- ships
- showed
- Sources
- state-owned
- supplies
- syndicated
- than
- The
- the world
- threaten
- three
- tightened
- tighter
- to
- told
- top
- Tracking
- trade
- transportation
- true
- Ukraine
- us
- very
- vessels
- was
- week
- weigh
- were
- West
- Western
- which
- will
- with
- world
- year
- year after
- zephyrnet
More from Indian Defense News
US Will Continue To Foster Stronger Defence Partnership With India: Pentagon
Source Node: 2312709
Time Stamp: Oct 6, 2023
Indian Navy Keeps Close Watch On Chinese Warships Moving For Engagement With Pakistan Navy
Source Node: 2351689
Time Stamp: Oct 27, 2023
Adani Group To Invest ₹50,000 Crore On Data Centres In Maharashtra
Source Node: 2446053
Time Stamp: Jan 18, 2024
To Boost IAF’s Capabilities, Defence Ministry Signs Contracts Worth Rs 3,700 Cr With BEL For Radars, Receivers
Source Node: 2028049
Time Stamp: Mar 24, 2023
This DRDO Developed Laser Pod Will Make IAF Attack Helicopters Invincible
Source Node: 1957068
Time Stamp: Feb 14, 2023
Army Seeks 200 Man-Portable Drone Jammers For Use By Troops In The Field
Source Node: 1912099
Time Stamp: Jan 22, 2023
India, US, Saudi Arabia, UAE Advance Shared Vision of A More Secure, Prosperous Middle East Region
Source Node: 2087227
Time Stamp: May 8, 2023
Brahmos Aerospace Set To Bag USD 2.5 Billion Cruise Missiles Order From Indian Navy
Source Node: 2006787
Time Stamp: Mar 12, 2023
US, India To Finalise GE’s Fighter Jet Engine Manufacturing Deal Ahead of PM Modi’s Visit
Source Node: 2109658
Time Stamp: May 26, 2023
‘Combat Proven’, Multi-Tasker: The Rafale Marine – A New Fighter Fleet
Source Node: 2172486
Time Stamp: Jul 16, 2023
Cabinet Committee On Security Likely To Seal Rafale-M Deal Today
Source Node: 2026409
Time Stamp: Mar 23, 2023