Oil tankers carrying nearly 2.2 million barrels of Russian Urals crude are heading to India’s largest oil refining complex — the Reliance plant on the country’s western coast. The shipments are expected to arrive at the beginning of this month.
Source: PRYAMYI
According to Bloomberg, Reliance Industries Ltd. resumed purchases of Russian crude after U.S. sanctions against key Russian oil companies. The purchased crude will be used for domestic refining into gasoline, diesel, and other products, not for export.
Analytics firm Kpler notes that the tankers are heading to the Jamnagar complex, where Urals crude will be processed for India’s domestic market.
Earlier, Reliance had suspended purchases due to sanctions against Rosneft and Lukoil, but the company later established supplies from other providers. Previously, Rosneft supplied up to 500,000 barrels per day under a term contract, serving as the main crude supplier for the plant.