India imports crude from 39 countries
Letter from India: Russian imports remain dominant
India’s newfound reliance on discounted Russian crude continues to grow
Russia was India’s largest crude oil supplier in December for the third consecutive month, displacing traditional exporters Iraq and Saudi Arabia and hitting a fresh volume record. Russian imports reached 1.19mn bl/d over the last month of 2022, accounting for more than 25pc of India’s total and surpassing the previous high of 942,694bl/d registered in June, according to data from energy analytics firm Vortexa. The Russia-Ukraine conflict has dramatically changed from where Indian refiners source their crude. Before Moscow’s invasion of its neighbour, more than 60pc of India’s crude oil imports originated from the Middle East, with North America accounting for 14pc, West Africa 12pc, Latin A
Also in this section
30 November 2023
The region’s rapidly evolving infrastructure has a lot to be commended for, but some of the capacity may not be ready in time for next year’s heating season
30 November 2023
Burgeoning middle class and long-term growth from a low base at odds with energy transition efforts
28 November 2023
Countries such as Pakistan will require fossil fuels for a long time to come, requiring a reframing of the narrative around the energy transition
28 November 2023
Rising LNG demand and supply risks are outpacing shipping logistics amid Panama and newbuild challenges
