Private refiners from India profiting from Cheap Russian Crude

India’s private refiners are tapping cheap Russian crude and getting profits from exports. However, on the other hand, the state refiners are getting squeezed by high oil costs and government-capped domestic fuel prices. When many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and

India Plans Refiners’ Joint Oil Deals to Cut Import Bill

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world’s third-largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of it