Page 4 - Indian Refiners News Today

Indian refiners are negotiating a six-month oil deal with Russia to import millions of barrels per month

India has bought more than twice as much crude oil from Russia in the two months since its invasion of Ukraine as it did in the whole of 2021

India's state refiners did not submit bids in tenders issued by Russia's top oil producer Rosneft as the terms were "one-sided", two sources familiar with the matter said on Thursday.

At least two Indian refiners plan to buy less Saudi oil in May, after the kingdom raised the official selling price to record highs for Asia

At least two Indian refiners plan to buy less Saudi oil than usual in May, after the kingdom raised the official selling price to record highs for Asia, the report said, as India increases purchases of cheap Russian crude

Mangalore Refinery and Petrochemicals Limited has bought one million barrels of Russian Urals crude for May loading via a tender

India, the world's third-biggest oil consumer and importer, has not banned Russian oil imports.

Crude oil imports last month rose 7.5% versus October and were also 0.5% higher than a year ago at 18.37 million tonnes

Synopsis Weaker demand due to increasing Covid-19 cases or regular maintenance shutdowns may also contribute to lower purchase from Saudi Arabia in May, they said. Getty Images IOC has floated a spot tender seeking crude from West Africa, the Middle East, the U.S. and Canada for April-May loading. India’s state refiners are considering purchasing fewer barrels from Saudi Arabia in May after the OPEC ignored New Delhi’s call for higher supplies to calm international crude oil prices. They ha...