Tag: imports
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Russian oil leads Asia’s imports to the highest level in 2023
Shipments of Russian oil pushed Asia’s crude imports to a record high in May 2023, in light of the continued growth of purchases by China and India, which are benefiting from attractive discounts offered by Moscow following Western sanctions imposed on it over its war in Ukraine. Asia’s oil imports are expected to rise to…
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Saudi Arabia’s imports of Russian diesel recorded a record jump
Saudi Arabia’s imports of Russian diesel reached a record level in May (2023), benefiting from the discounts offered by Moscow, after the European Union banned Russian exports of seaborne oil products on February 5 of this year, as part of a series of Sanctions in response to the war in Ukraine, which aim to reduce…
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Official: India’s imports of Russian oil are increasing for these reasons
India’s imports of Russian oil have been rising month-on-month, since shipments from Moscow have replaced crudes from the Middle East and Africa. India’s national oil company “Indian Oil” – the country’s largest refiner in terms of production capacity – confirmed its commitment to long-term contracts with the Middle East, but spot purchases from the region…
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India’s imports of Russian oil drop the share of the Middle East to the lowest level in 22 years
The increase in India’s imports of Russian oil prompted a reduction in the share of Middle East crudes to the lowest level in 22 years last April. India’s purchases of Russian oil rose to new records in April, as New Delhi seeks to take advantage of deep discounts offered by Moscow on its crude. In…
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India’s oil imports from OPEC countries are at an all-time low
India’s oil imports from OPEC countries continue to decline significantly since Russian supplies increased following Moscow’s invasion of Ukraine in February 2022. India’s imports of OPEC oil fell to an all-time low of 46% in April 2023, according to information reported by the energy freight tracker Vortexa and seen by the specialized energy platform. In…
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OPEC’s share of India’s oil imports falls to its lowest level in 22 years
India’s oil imports, during the fiscal year ending in March (2023), witnessed a significant increase in Russian oil flows, at the expense of the oil of OPEC countries. India hastened to seize the largest number of cheap Russian shipments over the past period, with Moscow turning towards Asian markets after Western countries imposed sanctions on…
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Pakistan’s fuel imports jump to two billion dollars in March
The value of Pakistan’s fuel imports increased, in March (2023), to record more than two billion dollars, with a growth rate of 9% on a monthly level. This data, issued by the Pakistan Statistics Bureau, indicates an increase in the Asian country’s dependence on fuel imports, according to The Express Tribune newspaper, today, Saturday, April…
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China’s oil imports jumped in March to their highest level in 33 months
China’s imports of crude oil jumped during March 2023 to their highest levels since mid-2020, driven by an increase in domestic demand and a recovery in the industrial sector. China’s imports of crude rose to 52.3 million tons, equivalent to 12.3 million barrels per day, during March 2023, according to Reuters. China’s oil imports in…
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Türkiye’s imports of Russian diesel rose to their highest levels in 7 years
Turkey’s imports of Russian diesel jumped during March 2023, taking advantage of the cheap prices offered by Moscow in the wake of European sanctions. Flows exceeded 10 million barrels in March, nearly 50% more than in February, enough to meet the country’s demand for at least two weeks, according to information seen by the specialized…
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Bangladesh resumes red diesel imports from India after a 3-year hiatus
Bangladesh has resumed red diesel imports from India after a 3-year hiatus, as part of a deal signed between Bangladesh Petroleum and Indian Oil. Bangladesh Petroleum received the first shipment of the total deal, which provides for the supply of about 333,000 metric tons of red diesel (a low grade of diesel) with a sulfur…