Reliance resumes oil imports from Russia

RELIANCE INDUSTRIES RESUMED purchases of discounted Russian crude, sourcing barrels from non-sanctioned suppliers and routing them to its refinery in Gujarat, according to people with knowledge of the matter.

- RAKESH SHARMA & PR SANJAI December 24

India's largest refiner contracted Aframax tankers from RusExport and is routing flows to a 660,000-barrel-a-day plant that supplies domestic customers, the people said, asking not to be identified discussing sensitive information. Its return to the market is likely to pare a decline in India's purchases of Russian oil, which officials have said could more than halve this month.