New Delhi:State-run refiners have the government’s blessing to buy Russian crude without violating sanctions clauses, which explains the spate of tenders floated by nearly all of them at a time when trading houses are finding it difficult to find buyers.
Led by the largest state-run refiner IndianOil, Hindustan Petroleum, and MRPL, the refining subsidiary of exploration giant ONGC, among them are lifting six million barrels of Russia’s Urals grade from European trading houses. Reports suggest Bharat Petroleum will also queue up soon.
Russia has never been a major source for Indian refiners, largely due to high cost of shipping that involves transshipments. Russian crude accounted for 2% of India’s oil imports between April 2021 and January this year. Therefore, there is something more than demand that is driving these tenders.
“There is no way that almost all major government refiners would have floated tenders for Russian crude without sounding out the government in the current situation,” a person in the know said.
هذه القصة مأخوذة من طبعة March 20, 2022 من The Times of India Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 20, 2022 من The Times of India Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
US soccer scrubs Islamic emblem from Iran flag
The federation said in a statement Sunday that it decided to forego the official flag on social media accounts to show “support for the women in Iran fighting for basic human rights.”
Pyar Ke Saat Vachan Dharam Patnii begins on TV tonight
What happens when kismet takes over the lives of two couples belonging to two different sections of society?
Arijit serenades music lovers in Mumbai
Arijit Singh casts a spell with his voice
ARGENTINA LIVE TO FIGHT ANOTHER DAY
Messi's Strike Rattles Mexico And Lusail, Brings Team Back From The Brink
Costa Rica come alive
Los Ticos Stun Japan With Late Fuller Winner
Morocco's moment under the sun
Inspired Atlas Lions Shock Belgium For First WC Win In 24 Years
ON YOUR MARK, GET SET, SOAR
Athletics Icon Usha Set To Become First Woman President Of IOA
Industry body calls for slower rate hikes
CII Asks RBI To Moderate Pace Of Raising Repo As Global Woes May Impact Growth
Insurance reforms may see PE funding surge in sector
Irdai Raises Investment Cap, Allows PEs To Be Promoters
Cut ties with child-killing regime, Khamenei's niece tells world, held
Iranian authorities have arrested a niece of supreme leader Ayatollah Ali Khamenei after she recorded a video describing the authorities led by her uncle as a “murderous and child-killing regime”.
