Indian oil imports from Russia hit 12-month low in January

By PortalPortuario Editorial Staff/Reuters Agency

@PortalPortuario

crude oil import India From your main supplier, Russiafell for the second consecutive month in January to the lowest level of the year as tight Western sanctions hit grade supplies Sokol Light Sweet, preliminary ship tracking data shown.

According to previous information, the world’s third-largest oil importer and consumer boosted Iraqi fuel revenues to compensate for the decline in Russian oil arrivals.

Imports from Russia fell 4.2% to 1.3 million barrels per day (bpd), according to the data. LSEG, For its part, the ship tracking agency Cyclone It declined 9% to 1.2 million bpd.

“The reduction in discounts on Russian crude against Middle Eastern crude, recent U.S. sanctions on shipowners carrying Russian crude above the maximum price, and an increase in tanker premiums as a result of the Red Sea attacks” have weighed on Russian crude. Made less attractive. Indian refiners in recent months,” he said. Serena Huang, Head of APAC Analytics at Vortexa,

Last year, India emerged as a major buyer of seaborne Russian oil sold at a discount after Western countries halted imports following Moscow’s invasion of Ukraine.

However, in December 2023, Washington imposed sanctions on ships and ship operators transporting Russian oil that exceeds the established limit of $60 a barrel. Group of Seven (G7), Banks and service providers have been asked to ensure that the charges do not exceed the value limit.

As a result of the sanctions, several tankers that were scheduled to carry Sokol crude to India were diverted. India is set to receive at least five shipments of Sokol crude in February, up from none in January, according to LSEG data.

ship expected A type of animal Unload at a private refinery facility Nayara EnergyLocated in vadinar portin the western state of Gujarat, LSEG data and a shipping report revealed.