US EditionIndia’s Top Refiner Hastens to Replace Russian Crude
4 Articles
4 Articles
India’s Top Refiner Hastens to Replace Russian Crude
Indian Oil Corporation, the biggest refiner in the country, has purchased about 7 million barrels of crude from the U.S., the Middle East, and Canada in a spot tender last week, partly to replace Russian crude, which is now on hold at India’s state refiners. IndianOil has bought 4.5 million barrels of U.S. West Texas Intermediate Midland, 2 million barrels of Abu Dhabi’s Das crude, and 500,000 barrels of Western Canadian Select (WCS) crude, anon…
The country remained the largest buyer of Russian oil transported by sea.
Decline in India’s Russian crude oil imports may boost demand for VLCCs - India Seatrade News
A major decline in India’s import of Russian crude oil is sure to affect the global tanker trade patterns. Demand for very large crude carriers (VLCCs) is set to rise when India turns to its traditional buyers— West Asia. Besides, the European Union’s (EU) 18th sanctions package lowers the price cap from $60 a barrel to $47.6, which would mean that Russia will have to expand its dark fleet strength to continue delivering its flagship grade Urals…
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