URALS OIL

To address the trade imbalance from India's Ural crude purchases, they consider local currency, yuan, and cross-border investments. Western sanctions, tighter ties with Moscow, and Beijing's concerns complicate matters. Europe reducing Russian gas i...

Indian imports of Russian crude surged in June, outpacing other major suppliers. Refiners find the discounts on Urals grade appealing, with private sector involvement rising.

In May, Russian seaborne fuel oil and VGO exports peaked at 4 million metric tons, with India and China as top destinations. The surge followed the European Union's embargo on Russian oil products, redirecting supplies to Asia. Notably, ship-to-ship...

Russian oil exporters are selling oil to India at higher prices than at any time since the start of the Ukraine war, as more shippers and traders participate in the trade, weakening the impact of Western sanctions. The exporters have had to offer de...

Reliance Industries has signed a one-year deal with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles. This agreement, following President Putin's push for alternative financial systems amid Western sanctions, secures...

Crude oil Import: In April, India and Egypt were key destinations for Russian seaborne fuel oil and vacuum gasoil exports, with a total 10% decrease in exports due to maintenance and outages. The EU's embargo redirected Russian exports to Asia. Ship...

In April, Russia's share in Indian crude oil imports rose to nearly 40%, up from 30% in March, driven by higher global oil prices. Indian refiners imported 1.78 million barrels per day (mb/d) of crude oil from Russia, surpassing imports from China a...

In February, China and India remained primary destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports, as they sought alternatives to crude oil. Russia redirected most of its fuel oil and VGO to Asia following the EU's oil embargo...

Russia will increase oil exports through its western ports in March by almost 200,000 barrels per day (bpd) against the monthly plan to 2.15 million bpd, and market participants expect a further increase in exports amid ongoing drone attacks on Russ...

Urals oil, Russia's flagship export blend loaded from its western ports, is mostly supplied to Asia due to a European Union embargo on Russian oil, with India becoming its top buyer for seaborne oil. Meanwhile, there have been no disruptions in BPCL...

In October, Indian refiners increased their demand for cheaper Urals crude from Russia while reducing imports of more expensive Russian grades. Urals, sold at a $10 discount compared to grades like ESPO and Sokol, made up 90% of Russia's imports, a ...

Russia is selling oil to India at a price of nearly $80 per barrel, which is $20 above the Western price cap. This is due to tight global oil markets and strong demand for Russian exports. India has become the top buyer of Russian oil since 2022, an...

Russia's high dependence on India as its main oil buyer is a rising concern for its oil companies this month, as an expected rise in loadings from Primorsk, Ust-Luga and Novorossiysk port in September coincides with a decrease in demand in India ami...

Supplies from Russia fell 23% month-on-month to 1.47 million barrels per day (mbd) in August, even as India's overall crude imports fell 5% to 4.35 mbd, according to energy cargo tracker Vortexa. Russia's seaborne crude exports to China, however, in...

India’s consumption of Russian crude has soared since last year, with the country becoming a leading supplier, ousting Saudi Arabia and Iraq from the top spots. Officials at four major refiners in India said they would continue purchasing Russia’s f...

Bharat Petroleum Corp is continuing discussions with Russia’s Rosneft to buy oil under a term deal. The refiner’s head of finance said discounts on Russian oil are narrowing, and if they fall further, there would be no good advantage of taking Russi...

Russian oil accounted for 42% of India's total crude imports in May, up 15% month-on-month, defying analysts' expectations of a slowdown due to the Chinese competition. India imported a record 1.96 million barrels per day (mbd) from Russia in May, a...

Attractive prices for Urals mean good margins for Indian refiners while term contracts between Russian and Indian companies and lower freight rates are also helping keep supplies elevated, one of the sources said. Last month Russia's Rosneft and Ind...

Russia's top oil producer, Rosneft, and India's leading refiner, Indian Oil Corp (IOC), have abandoned the Brent benchmark in favour of using the Asia-focused Dubai oil price benchmark in their latest deal. The move is part of Russia's shift towards...