{"id":8791,"date":"2022-06-14T14:16:46","date_gmt":"2022-06-14T14:16:46","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=8791"},"modified":"2022-06-14T14:16:46","modified_gmt":"2022-06-14T14:16:46","slug":"russia-becomes-indias-2nd-largest-oil-supplier","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/world\/russia-becomes-indias-2nd-largest-oil-supplier\/","title":{"rendered":"Russia becomes India\u2019s 2nd-largest oil supplier"},"content":{"rendered":"<p>ISLAMABAD: Russia has surpassed Saudi Arabia to become India\u2019s second-largest oil supplier, as refiners buy up Russian crude oil offered at a big discount following the war in Ukraine, international media reported on Tuesday.<\/p>\n<p>Since the outbreak of the Russia-Ukraine war on Feb. 24, India \u2013 the world\u2019s third-largest oil importer \u2013 has taken a firm stance on its insistence on buying Russian oil despite the EU ban as Moscow is selling its oil at an almost 30% discount.<\/p>\n<p>According to a detailed tracker of Russian oil, gas and coal shipments, and pipeline exports by the Centre for Research on Energy and Clean Air, India has become a significant importer of Russian crude oil, buying 18% of the country\u2019s exports.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/business\/indonesia-to-supply-palm-oil-to-pakistan.html\" target=\"_blank\" rel=\"noopener noreferrer\">Indonesia to supply palm oil to pakistan<\/a><\/strong><\/em><\/p>\n<p>Indian refineries have become key importers of Russian crude oil, accounting for a growing share of Russia\u2019s overall crude exports.<\/p>\n<p>It increased from roughly 1% prior to the war to 18% in May.<\/p>\n<p>The Jamnagar refinery is the largest buyer, receiving 27% of its oil from Russia in May, up from less than 5% in April.<\/p>\n<p>Arrivals from Russia have mainly replaced arrivals from other sources, but there has also been an uptick in crude intake since the beginning of April when Russian arrivals started to rise sharply.<\/p>\n<p>A significant share of Indian crude is re-exported as refined oil products, including to the US and Europe, which is an important gap to close. Iraq remained the top supplier to India in May and Saudi Arabia is now the third-biggest supplier.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: Russia has surpassed Saudi Arabia to become India\u2019s second-largest oil supplier, as refiners buy up Russian crude oil offered at a big discount following the war in Ukraine, international media reported on Tuesday. Since the outbreak of the Russia-Ukraine war on Feb. 24, India \u2013 the world\u2019s third-largest oil importer \u2013 has taken a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":8794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3],"tags":[396,3235,532,5997,5999,139],"class_list":["post-8791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world","tag-iran","tag-iraq","tag-russia","tag-russia-ukraine-war","tag-tehran","tag-india"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/8791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=8791"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/8791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/8794"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=8791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=8791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=8791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}