In 2023, Russia overtook the UAE to become India’s largest naphtha supplier. This was reported by Reuters, citing calculations by the British company Vortexa.
According to Vortexa, India imported 2.1 million tons of naphtha, 770 thousand tons of which was from Russia, in the January-September period. This is because India is buying cheap Russian oil products in the face of sanctions and high gas prices. Previously, the UAE was traditionally India’s largest supplier of naphtha, and purchases from Russia were insignificant due to high logistics.
However, naphtha imports from the UAE to India decreased from 697 thousand tons to 686 thousand tons in 2023. Reliance Industries became the largest importer of Russian naphtha. According to forecasts, naphtha imports to India will increase due to the commissioning of new petrochemical capacities and refinery repairs. By 2040, consumption of petroleum products in India is expected to increase to 80 million tons per year.
India in early September continued He bought Russian Ural oil because he could not do without it, despite the increase in its price.
Previously temporarily ALROSA stopped Supply of diamonds to India.
Source: Gazeta
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