Middlemen halted Russian oil offers after US sanctions: Indian refiner

Quick Summary:

Traders begin offering cargo by 15th of every month for lifting in the following month.

To make up for the shortfall, Indian refiners have floated tenders for oil imports and are purchasing grades such as Abu Dhabi's Murban grade.

The refiner on average gets 16-17 cargoes of Russian oil in a month, which cover about 35% of its needs.

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Article Details

Category: BusinessFinance

Markets: India

Topics: India Russia oil trade India Russia trade US sanctions on Russia US sanctions Russian oil firms

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-22 @ 22:55:27 (14 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 380 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 25345051

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 280 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

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Publisher ID: #49

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