However, the rating agency's report also highlights a decreasing trend in the discount on crude yearon-year.
India, one of the largest energy consumers in the world, has significantly increased its imports of crude oil from Russia since the latter's invasion of Ukraine in 2022. The share of crude petroleum imported from Russia surged to nearly 36% in the 11 months of the financial year 2023-2024 (FY24) from a mere 2% in FY22.
This story is from the May 01, 2024 edition of The New Indian Express.
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This story is from the May 01, 2024 edition of The New Indian Express.
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