India's refined fuel exports to Europe shot up to an average of 385,547 barrels per day (bpd) in March from 169,196 bpd in February, and 276,068 bpd in January, as per data shared by energy cargo tracker Vortexa.
In the run-up to the European Union's ban on Russian refined fuels from February 5, Indian refiners, particularly private sector players, rushed to cater to the region. The same was true for other fuel exporters like China and Saudi Arabia, as Russia was the EU's largest source of fuel and a ban on fuel imports meant that a lion's share of the supplies to the region would not be available anymore.
This story is from the April 17, 2023 edition of Financial Express Mumbai.
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This story is from the April 17, 2023 edition of Financial Express Mumbai.
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