India is buying the most crude oil from Russia: 11.9 lakh barrels of oil were imported every day in December; Purchases increased 32 times


Posted on 16th Jan 2023 02:46 pm by rohit kumar

India bought the maximum crude oil from Russia in December 2022. Earlier this happened in October and November also. According to energy cargo tracker Vortexa, India bought an average of 1.19 million barrels of crude oil from Russia every day in December. A year before this, in December 2021, India used to buy only 36,255 barrels of oil per day from Russia. That is, the purchase of oil from Russia increased by about 32 times in a year.

 

Import of 25% crude oil from Russia

India now imports 25% of its oil requirement from Russia. Till March 2022, India used to buy only a very small part of its requirement from Russia. But from April the situation started changing. In October, Russia overtook Iraq and Saudi Arabia in terms of selling oil to India.

 

Increase due to the Russia-Ukraine war

The biggest reason for this increase is the Russia-Ukraine war. Actually, after the war America and European countries imposed sanctions on Russia. After which Russia started giving a discount on crude oil. India also took advantage of the opportunity and started buying large quantities of oil from Russia. Like India, China bought a large amount of crude oil from Russia during this period.

 

Oil purchases not less than the price cap

The G7 countries imposed a price cap on Russian crude oil in early December. Under this, oil could be bought from Russia only for $ 60 / barrel or less. This price cap has not had any impact on India's oil purchases from Russia. In December, for the first time, India bought more than one million barrels of oil per day from Russia. According to industry sources, India is getting Russian oil at a price lower than the price cap.

 

Also Read: Ports: Why is the world's largest ship Ever A lot does not come to India, what is the compulsion to go to the port of Sri Lanka? know

1 Like 0 Dislike
Previous news Next news
Other news

Shahbaz Sharif started pleading for an attack on Noor Khan and a ceasefire, what was Pakistan afraid of?

After the declaration of a ceasefire between India and Pakistan, the situation in both countries

BSEB 12th Result 2023: Check the result of the Bihar Board Intermediate Exam like this, this is the easy process

Bihar Board 12th Result Out Bihar School Examination Board (BSEB) is going to release the result

Ujjain Rape Case: 72 hours ... 1000 CCTV footage ... five accused arrested; How to set up a rape case with a solved girl?

Ujjain Rape Case: A case of embarrassing humanity has come to light in the city of Baba Mahakal,

India-Pakistan Tension: 24 airports of the country closed due to tension, SpiceJet and Indigo issued an advisory

Pakistan is furious with the Indian action taken under Operation Sindoor. The situation on the bo

Delhi Election 2025: 'BJP insulted Punjabis and Sikh community', Kejriwal said- Amit Shah should apologize

Delhi Chief Minister Atishi and Aam Aadmi Party Convenor Arvind Kejriwal attacked the BJP in a pr

The more you suppress, the more... Munawar Faruqui came out in support of Samay Raina, and gave a big statement amid controversies.

At this time, the name of YouTuber Samay Raina, who runs the YouTube show India's Got Latent, is

Israel-Hamas War: After the attack on Israel, why did Hamas bring the hostages to Shifa Hospital, what is the truth of the treatment amidst cruelty and barbarity?

It has been more than a month since the Israel-Hamas war started after October 7. The Israeli arm

PM Modi Namibia Visit: Meeting with the President, address in Parliament... PM Modi reached Namibia after Brazil; Know the full schedule.

Indian Prime Minister Narendra Modi arrived in Namibia's capital Windhoek this morning. He was gi

'No compromise on security, respect, and dignity', Bangladesh is not ready to come to India; it stands firm on its decision.

'No compromise on security, respect, and dignity': The ICC has currently rejected the Bangladesh

Italian women recited verses from Ramayana and 'Shiv Tandava' to Yogi, and CM gave this reaction.

Neither did they know Hindi nor Sanskrit well, yet as soon as the three Italian women sang Mangal

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash