Indian Oil Corp.'s actions may encourage other refiners to use the Russian company's vessels.
Indian Oil Corp. buys Russian oil products again
This week at Indian Oil Corp. resumed the purchase of Russian crude oil delivered by the Sovkomflot tanker. This paves the way for the recovery of oil supplies after US sanctions disrupted them.
Bloomberg provides such data.
As it became known, the tanker "Vladimir Tikhonov" unloaded about 1 million barrels of Russian Urals oil in the port of Paradip, where the oil refinery of the Indian oil company is located.
The acceptance of the Sovcomflot tanker by the largest Indian oil refiner is of great importance, as it may encourage smaller companies to also use this shipping company to purchase oil from Russia.
Daily oil imports from Russia to India rose to more than 1.9 million barrels in April, the highest since July. The supply of Urals and Sokol oil grades increased sharply compared to the previous month, the data show. By comparison, refiners cut supplies from Iraq and Saudi Arabia, India's second and third largest oil suppliers.
In turn, at least five Sovcomflot tankers carrying Urals oil are targeting India this month, while the Suvorovsky Prospekt tanker is off the country's west coast, according to Bloomberg vessel tracking data.
Indian Oil Corp.: what is known
Indian Oil Corporation is an oil and gas company specialising in oil refining and distribution of petroleum products.
The company was established in 1964 as a result of the merger of two companies: Indian Oil Company Ltd. and Indian Refineries Ltd.
In the Forbes Global 2000 list of the world's largest companies for 2022, Indian Oil Corporation took 357th place. As of the year before last, the company had more than 31,000 employees.
Russian tankers with oil products enter Indian ports
India again buys Russian oil and fuel oil.
This is reported by Reuters.
The ship "SKF Baltika" is transporting 90,000 tons of fuel oil for the operator of the world's largest oil refining complex in Jamnagar, Reliance Industries. Sources of the publication assure that the ship will leave the port on Friday after complete unloading.
It is noted that Indian refineries, including Reliance, began to fear accepting cargo from Sovcomflot ships after the US imposed sanctions against the Russian shipping giant on February 23.
However, during a visit to India earlier this month, US officials said Washington wanted stable global oil supplies and did not ask India to cut Russian oil imports. Another tanker, Volodymyr Tikhonov, is due to arrive in India next week with Russian oil.
India's Reliance mainly buys Russian oil, but also imports fuel oil for processing at its coking plant to produce refined fuel.
Sources of the publication indicate that the new Indian oil refineries plan to receive Russian oil cargoes loaded on Sovcomflot ships.
