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Refiners shift focus to LatAm, Africa to replace Russian oil
Financial Express Chennai
|March 14, 2025
CRUDE OIL IMPORTS from Latin America and Africa rose marginally in February as refiners turned to alternative sources, fearing a loss of Russian oil supplies caused by tighter US sanctions, data from trade sources shows.
India became the biggest buyer of Russian seaborne oil sold at a discount after Western nations imposed sanctions on Moscow for its invasion of Ukraine in 2022.
In February, imports of Russian oil fell 3% from January to about 1.54 million barrels per day (bpd), with Moscow's share in New Delhi's overall crude purchases shrinking to the lowest since January 2024, the data shows.
Cette histoire est tirée de l'édition March 14, 2025 de Financial Express Chennai.
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