State refineries are looking for a replacement of Russian oil in the area market and have begun to buy it from countries in the Middle East of OPEC and West Africa, says resources.
Indian state oil refineries have stopped importing Russia’s oil after US President Donald Trump’s statements, who have threatened the country of tariffs and fines for cooperation with Russia. It was reported by Reuters that there was a reference to four sources in the industry on Thursday, July 31.
According to them, the Indian Oil Corp, the country’s largest oil company, controlling 10 of the 20 refineries with a total capacity of 60 million tons per year, Russia’s oil left.
Importing Hindustan Petroleum, Bharat Petroleum and Mangalore Refine Prochemical are also suspended. India’s refinery, according to resources, was looking for Russian oil replacement in the market area and began to buy it from Middle East countries of OPEC in West Africa.
The agency remembers that Russia’s largest oil consumer in India is private refineries – Reliance Industries and Nayara Energy. The latter of them fell under the 18th package of penalties in the EU.
On Trump’s eve was announced by tariffs and fines against India from August 1, as this country has bought a lot of oil and weapons in Russia.
Meanwhile, India said they would do without oil from Russia if supplies were injured due to a second US penalty. This was said by Indian oil Minister Hardip Singh Puri.
And according to Bloomberg, the largest Indian Reliance industries oil refinery, owned by billionaire Mukesh Ambani, has begun to look for an alternative to Russian oil.
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Source: korrespondent
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