Financial Associated Press, June 6 (Editor Zhao Hao) Sources said that India is looking to increase oil imports from Russia, and the country's refiners want more cheap oil supplies from Rosneft PJSC .
Due to the sanctions imposed on Russia by European and American countries, some international oil refiners refuse to deal with Russia, giving India the opportunity to pick up a large amount of crude oil from Russia at ultra-low discount prices, but the oil refiners in Asia's second largest oil consumer are still not satisfied with this. .
The refiners include state-owned Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum, as well as privately-owned Reliance Industries and Nayara Energy.能源).
State-owned Indian refiners are working together to finalize and secure a new six-month supply contract for Russian crude to India, people familiar with the companies' purchasing plans said.They noted that these potential supply deals would be independent of the oil India has already purchased from Russia through other agreements.
Details on quantities and pricing are still being negotiated, Indian banks will fully finance all shipments, and sellers will handle shipping and insurance, they said.
Reuters reported that India received about 24 million barrels of Russian oil in May, up from an average of 960,000 barrels per month last year, Reuters reported, citing data from financial market data provider Refinitiv.The data also showed that India's oil imports from Russia have been increasing since late February this year, at 3 million bpd in March and 7.2 million bpd in April.
Separately, India plans to import about 28 million barrels of oil from Russia next month.During the period, India's total merchandise imports from Russia climbed to $6.4 billion, up from $1.99 billion a year earlier.
Indian Foreign Ministry spokesman Alindan Bach responded to this last week, "India imports Russian oil for its own energy security needs." Earlier, Indian TV reported that private Indian refineries have become the main buyers of Russian oil.
(Editor in charge: CF011)
