India imports crude from 39 countries
Letter from India: Russian imports remain dominant
India’s newfound reliance on discounted Russian crude continues to grow
Russia was India’s largest crude oil supplier in December for the third consecutive month, displacing traditional exporters Iraq and Saudi Arabia and hitting a fresh volume record. Russian imports reached 1.19mn bl/d over the last month of 2022, accounting for more than 25pc of India’s total and surpassing the previous high of 942,694bl/d registered in June, according to data from energy analytics firm Vortexa. The Russia-Ukraine conflict has dramatically changed from where Indian refiners source their crude. Before Moscow’s invasion of its neighbour, more than 60pc of India’s crude oil imports originated from the Middle East, with North America accounting for 14pc, West Africa 12pc, Latin A
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
