RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2023-02-20 12:05:00

RUSSIAN OIL FOR INDIA UP

RUSSIAN OIL FOR INDIA UP

REUTERS - Feb 17, 2023 -  India's Russian oil imports climbed to a record 1.4 million barrels per day (bpd) in January, up 9.2% from December, with Moscow still the top monthly oil seller to New Delhi, followed by Iraq and Saudi Arabia, data from trade sources showed.

Last month Russian oil accounted for about 27% of the 5 million bpd of crude imported by India, the world's third-biggest oil importer and consumer, the data showed.

India's oil imports typically rise in December and January as state-run refiners avoid maintenance shutdowns in the first quarter to meet their annual production targets fixed by the government.

Refiners in India, which rarely used to buy Russian oil because of costly logistics, have emerged as Russia's key oil client, snapping up discounted crude shunned by Western nations since the invasion of Ukraine last February.

Last month India's imports of Russian Sokol crude oil were the highest so far at 100,900 bpd, as output from the Sakhalin 1 field resumed under a new Russian operator, the data showed.

In January, India's imports of oil from Canada rose to 314,000 bpd as Reliance Industries boosted purchases of long-haul crude, the data showed.

Canada emerged as the fifth-largest supplier to India in January after the United Arab Emirates, the data showed.

India's Iraqi oil imports in January rose to a seven-month high of 983,000 bpd, up 11% from December, the data showed.

During April-January, the first ten months of this fiscal year, Iraq continued to be the largest oil supplier to India, while Russia became the second-biggest supplier, replacing Saudi Arabia which is now in third place, the data showed.

Higher purchases of Russian oil dragged down Indian imports from the Middle East to an all time low of 48% and member nations of Organization of Petroleum Exporting Countries (OPEC) declined to the lowest ever, the data showed.

-----


Earlier:

RUSSIAN OIL FOR INDIA UP
2023, February, 17, 11:10:00
OPEC+ OIL DEAL CONTINUING
In October, OPEC and its partners took the unusual step of assigning fixed production targets for a full year ahead. Key officials have indicated they intend to leave the quotas unchanged throughout 2023, and the comments from Prince Abdulaziz bin Salman are the most emphatic to date.
RUSSIAN OIL FOR INDIA UP
2023, February, 17, 11:00:00
ЦЕНА URALS: $50.51
Средняя цена на нефть Urals за период мониторинга с 15 января по 14 февраля 2023 года составила $50,51 за баррель, или $368,7 за тонну.
RUSSIAN OIL FOR INDIA UP
2023, February, 13, 13:45:00
РОССИЯ СНИЗИТ ДОБЫЧУ НЕФТИ
Россия в марте добровольно сократит добычу на 500 тыс. баррелей в сутки. Это будет способствовать восстановлению рыночных отношений.
RUSSIAN OIL FOR INDIA UP
2023, February, 10, 12:45:00
RUSSIAN OIL CUTTING 0.5 MBD
Moscow’s move deepens the 2 million barrel-a-day production cut announced late last year by OPEC+, which Russia leads along with Saudi Arabia.
RUSSIAN OIL FOR INDIA UP
2023, February, 8, 12:50:00
RUSSIAN OIL FOR INDIA WILL UP
India's oil imports from Russia are likely to continue to rise this year mainly because of the steeply discounted prices it is selling at, he said, and assuming there are "no further stringent actions by the Western countries targeting Russian oil."
RUSSIAN OIL FOR INDIA UP
2023, January, 16, 12:55:00
RUSSIAN OIL FOR CHINA, INDIA
With India becoming the largest buyer of Russian crude in late 2022 and China posting close to double-digit growth in Russian inflows over January-November, refiners in South Korea, Japan and Thailand are finding it easier to procure term and spot crude supplies from Middle Eastern producers,
RUSSIAN OIL FOR INDIA UP
2023, January, 5, 16:30:00
RUSSIAN OIL EXPORTS DOWN
Russia said Dec. 28 it will ban crude supplies to countries that observe the G7's $60/b price cap from Feb. 1 for five months. The retaliatory move, which applies at all stages of supply to the final buyer, had been widely flagged by Russia and expected by the global oil market.
All Publications »
Tags: RUSSIA, INDIA, OIL, EXPORTS, IMPORTS