Indian oil companies want to expand channels to import cheap Russian oil, not just directly from Moscow. author Bloomberg agency.
Indian Oil Corp. National oil refineries (refineries), including oil, became interested in purchasing raw materials from small international traders. They offer the fuel that the larger hydrocarbon dealers refuse after the start of a special operation in Ukraine.
In April, the Swiss-Dutch oil trading company Vitol Group announced plans to halt Russian oil trading. Singaporean Trafigura spoke of the same intentions.
According to representatives of Indian refineries, working with small suppliers is easier and faster than working directly with Russian producers. New Delhi buys Russian oil from small companies like Wellbred and Montfort. According to the information on their website, the traders have offices in Switzerland, Dubai and Singapore.
At the end of June, The Wall Street Journal cited a report by several top executives of Indian oil companies. WroteThe Government of India strongly encourages state oil companies to import large volumes of Russian oil supplied at a discount.
Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.