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Refiners pull all levers to replace Russian shipments
Hindustan Times West UP
|January 24, 2025
RUSSIA RANKED AS INDIA'S NO. 1 OIL SUPPLIER BY VOLUME LAST YEAR, BEATING IRAQ AND SAUDI ARABIA
Oil refiners in India are reaching for all available options in the rush to make up for Russian flows hit by Washington's latest round of sanctions, turning to the spot market while simultaneously seeking more long-term supplies from Middle Eastern producers.
State-owned processors have issued a slew of spot tenders in recent weeks, snapping up oil from all corners of the world including Middle East, Africa and the US. Some cargoes are scheduled to load as early as February, indicating the urgency of replacements for the Russian flows India has become reliant on.
Denne historien er fra January 24, 2025-utgaven av Hindustan Times West UP.
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