In May, India imported 819,000 barrels per day (bpd), from 277,000 bpd in April and 33,000 bpd a year ago. Russia is now the second biggest supplier to India, replacing Saudi Arabia, while Iraq continues to be the largest.

China spent $18.9 billion on Russian oil, gas and coal in the three months to the end of May, almost double the amount a year earlier, latest customs data show. Meanwhile, India shelled out $5.1 billion in the same period, more than five times the value of a year ago.

The US remained China's biggest LPG supplier, sending 648,155 mt in May, but the volume dropped by 13.8% month on month, and fell by 16.3% year on year, customs data showed.

Non-sanctioning countries including India and China have significantly increased imports of Russian oil since the invasion began Feb. 24, taking advantage of major price discounts.

Crude imports rose 55% from a year ago to 8.42 million tons, with Russia overtaking Saudi Arabia as China’s main source of oil, according to customs data released on Monday.

Jiangsu’s installed capacity for gas-fired power generation exceeded 13 GW in 2021,

Asia is expected to account for about 40% of global incremental crude runs in 2022, with the US and Europe accounting for about 30% and 18%, respectively.

China annual power generation from renewable energy sources will reach 3.3 trillion kWh by 2025.

In late April, Urals cargoes for late May or early June delivery were trading at a discount of around $5-6/b to benchmark ICE Brent crude futures on a DES Shandong basis,

A record volume of Russian oil is on board tankers, with unprecedented amounts heading to India and China as other nations restrict imports because of the war in Ukraine.