Image default
Greek News

Europe buys Russian oil from backdoor via India

Record high imports of crude oil from Russia in fiscal 2022-23 helped India’s refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed.

Access to cheap Russian crude has boosted output and profits at Indian refineries, enabling them to export refined products competitively to Europe and take bigger market share.

Europe typically imported an average of 154,000 barrels per day (bpd) of diesel and jet fuel from India before Russia’s invasion of Ukraine.

That increased to 200,000 bpd after the European Union banned Russian oil products imports from Feb. 5, Kpler data showed.

India’s imports of Russian crude in March rose for the seventh straight month to end out the fiscal year as top supplier to India, displacing Iraq for the first time, the data showed.

Indian refiners, which rarely bought Russian oil previously due to high transport costs, imported 970,000-981,000 bpd of it in 2022/23, accounting for more than a fifth of overall imports at 4.5-4.6 million bpd, Kpler and Vortexa data showed.

Imports from Iraq slipped to 936,000-961,000 bpd from nearly 1 million bpd in 2021/22, the data showed.

source reuters.com

Σχετικα αρθρα

Tax Bill: Tax authorities to conduct checks via email and SMS – Stricter fines for tax evaders

admin

Taxation: Email to taxpayers with the form ready for submission

admin

Fuel prices: The unleaded is…on fire! – How high will the prices go by Easter?

admin

New York Stock Exchange: The price of cocoa exceeded 10,000 dollars per ton

admin

Bank of Greece: 16% increase in tourist traffic in January 2024

admin

The government announces on Wednesday a new minimum wage of €830

admin

The myAADEapp is now fully available for mobile devices

admin

Greek Shipowners: Global dominance in tankers and LNG

admin

Mitsotakis at the Economic Club of Canada: Greece is an attractive country for investments (video)

admin

Tax & VAT on cryptocurrency transactions

admin

Economist: Greece rises 28 places in business environment and shows the biggest improvement among 82 countries

admin

Historic record for the gold price: Over $2,200 an ounce and counting

admin