US EditionSaudi Aramco Halts Supply to India's Nayara Energy After EU Sanctions Russia's Rosneft
Saudi Aramco and Iraq's SOMO suspended crude shipments to Nayara Energy following EU sanctions due to its Russian ownership, reducing refinery capacity to 70-80% and shifting reliance to Russian crude.
- Following EU sanctions, Saudi Aramco and Iraq’s SOMO halted crude oil deliveries to Nayara Energy’s refinery in Gujarat starting September 1.
- The stoppage resulted from European Union penalties imposed in July due to Nayara’s 49% ownership by Russia’s Rosneft, causing payment and shipping difficulties.
- Nayara last received Saudi Arab Light on July 18 and Iraqi Basrah Heavy on July 29, making it entirely dependent on Russian Urals crude in August.
- In August, Nayara’s imports fell to 242,000 barrels per day, its lowest since November 2022, all Russian Urals, while India’s total Russian crude intake rose by 88,000 barrels daily.
- The sanctions forced Nayara to cut processing rates and seek government help securing compliant banking and shipping channels, highlighting broader efforts to restrict Kremlin oil revenue.
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Saudi Arabia and Iraq Cease Oil Shipments to This Sanctioned Indian Refiner
According to a report by Reuters, Saudi Aramco and Iraq’s SOMO have stopped supplying crude to Nayara Energy’s refinery in Gujarat after the European Union sanctioned the Indian company in July, citing its 49% ownership by Russia’s Rosneft. People familiar with the matter said Aramco halted sales over payment complications tied to the sanctions, while Nayara received no Iraqi cargoes in August. Kpler data show the refinery’s last non-Russian del…
·London, United Kingdom
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Saudi Aramco and Iraq's state-owned oil company SOMO have halted crude oil sales to Indian refiner Nayara Energy following sanctions imposed by the European Union in July over Russia's support for the refinery.
Coverage Details
Total News Sources22
Leaning Left6Leaning Right0Center2Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
C 25%
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