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

SL vs AFG: Wanindu Hasaranga's magic went crazy, Lasith Malinga's big record shattered; Special achievement associated with the name in T20I

Wanindu Hasaranga SL vs AFG: In the second T20 International match played between Sri Lanka and A

Delhi Fire: Fire broke out in the coaching center of Delhi's Mukherjee Nagar area, children were seen jumping from the window, and four injured

A fire broke out at the coaching center in the Mukherjee Nagar area of Delhi. 11 vehicles of Damk

IPL 2025: Hardik, Bumrah out! Surya will captain; This will be MI's probable playing 11 for the match against CSK.

IPL 2025 will start two days later, on March 22. The five-time IPL champion Mumbai Indians will b

Mizoram Election Result: ZPM gets a majority in Mizoram, 27 out of 40 seats; Zoramthanga resigned the Governor

Zoram People's Movement (ZPM) got a clear majority with 27 out of 40 seats in the Mizoram Assembl

Delhi Weather Update: Weather changed in Delhi-NCR, darkness spread due to thick clouds, light rain started at many places

After heavy rain on Wednesday night in Delhi and NCR, light rain continued on Thursday as well. E

Goa nightclub fire: Arrested accused Ajay Gupta blames the Luthra brothers, says, "I was just..."

In the Goa nightclub fire case, the Goa Police have detained co-owner Ajay Gupta from New Delhi.

Rajeshwari Maa from Japan reached Maha Kumbh, treats with yoga and sound therapy; and has received the title of Mahamandeshwar.

Maha Kumbh, the great festival that connects faith and religion, is also a festival of the union

Kargil Vijay Diwas: When Nawaz Sharif was left sweating by a call from Atal ji, former Pak PM told that story

kargil war 1999: July 26, 1999, will be etched in the memory of every Indian. On this day, the In

Economic Survey 2026: What does the government report say about inflation and the weakening rupee? Find out the survey figures.

The 'Economic Survey 2025-26', presented in Parliament today, painted a mixed picture of the Indi

Battle of Galwan's heroine confirmed, director tells why Chitrangda was chosen opposite Salman Khan?

There was discussion on the heroine for Salman Khan's upcoming film Battle of Galwan. The name of

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