Tag: Indias
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The Russian war against Ukraine is changing the energy landscape.. What is India’s role? (article)
Read in this article The war provided unexpected opportunities for India to increase its purchases of Russian oil at a discount European Union officials have grown increasingly concerned about the rise in the shadow fleet carrying Russian oil India’s role in the global oil market is becoming increasingly prominent Russia’s federal budget revenues from fossil…
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India’s imports of Russian oil hit the highest level in 10 months
India’s imports of Russian oil rose to a new record high in June 2023, marking the highest level in 10 months, according to energy market research firm Kepler. At the same time, some oil refineries in New Delhi have started paying some shipments in Chinese yuan. The head of the crude analytics sector in the…
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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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India’s refineries buy Russian oil in Emirati dirhams instead of dollars
Indian refineries have started exchanging the UAE dirham for US dollars, to pay for most of the quantities of Russian oil purchased, depending on trading companies headquartered in Dubai, United Arab Emirates. Indian refiners and traders fear that they will not be able to continue settling trades in dollars, especially if the price of Russian…
