{"id":12871,"date":"2024-12-31T13:00:58","date_gmt":"2024-12-31T13:00:58","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=12871"},"modified":"2024-12-31T13:00:58","modified_gmt":"2024-12-31T13:00:58","slug":"indian-refiner-boosts-mideast-oil-imports-as-russian-flows-slow","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/12871\/","title":{"rendered":"Indian refiner boosts Mideast oil imports as Russian flows slow"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0 One of India\u2019s largest refiners has been forced to seek alternative and more expensive crude cargoes from the Middle East to make up for lower supplies from Russia, putting a spotlight on shifting export patterns as traders focus on the global market\u2019s prospects in 2025.

\u201cWe are short of three, four Russian cargoes for January-loading and February-delivery,\u201d Bharat Petroleum Corp. Finance Director Vetsa Ramakrishna Gupta said. \u201cWe issued tenders and have secured alternate grades from Iraq, UAE and others, he said, referring to nations including the United Arab Emirates.<\/p>\n

India became a mainstay market for Russian oil flows in the aftermath of Moscow\u2019s 2022 invasion of Ukraine, boosting imports that aid its fast-growing economy. Still, the nation has faced a drop-off in shipments in recent weeks as Western states tightened the web of sanctions against Moscow\u2019s so-called dark fleet of tankers, and Russian refiners boosted run rates. In addition, Moscow has also been under pressure to abide by OPEC+ production goals.<\/p>\n

While Middle Eastern supplies were $2 a barrel costlier than Russia\u2019s Urals, there\u2019s no shortage of crude in the wider market, Gupta said in an interview on Tuesday. At present, BPCL has no plans to raise volumes under year-long deals with national oil companies that will be negotiated next month, he said.<\/p>\n

India\u2019s imports of oil from Russia slipped to 1.47 million barrels a day this month, the lowest since December last year, according to analytics firm Kpler.<\/p>\n

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