China exceeds India as largest importer of Russian crude

China has become the largest importer of Russian seaborne crude, surpassing India, due to India’s slowdown in imports amidst sanctions and rising price. China has surpassed India as the primary importer of Russian crude oil via sea routes, with China importing 1.82 million barrels per day (bpd) in March compared to India’s 1.36 million bpd.

India expands crude imports from US

More than 250,000 barrels per day of U.S. crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude. India, the world’s third-biggest oil importer and consumer, is looking to diversify its oil supplies as fresh U.S. sanctions

Oil refiners from India using CNY to buy Russian crude

In June, Indian Oil was the first state refiner to pay for Russian crude in yuan, while at least two of India's three private refiners have completed similar transactions.

Greek fleet dominant in market share of Russian crude

The tanker fleet engaged in the Russian trade post-sanctions is predominantly Greek-operated and composed mostly of older aframax and MR tankers, according to Vortexa, a data analytics firm. The size of the Greek-operated fleet post-European Union ban is nearly 2.5 times bigger than the next fleet, Russia’s. Nevertheless, the market share Greeks enjoy of this

Asia may absorb half of the Russian crude displaced by EU

Asia may be able to incrementally absorb only half the Russian crude volumes displaced as a result of the European Union sanctions taking effect, and the price cap of $60/b may not be able to create immediate hurdles for oil flows from the non-OPEC supplier. While Russia has been arranging a fleet of ships that

For India West Arctic Ocean becomes major source of crude

A new source of Russian crude has emerged for India – the West Arctic Ocean. This new activity which has only been seen this year, started around March on aframax and suezmax tankers, as data from energy analytics firm Vortexa shows. Aframax tonne-miles out of the West Arctic Ocean were typically directed towards Europe, something

Russia crude exports to India and other Asian nations increasing

A report by the Research on Energy and Clean Air, an independent think tank based in Helsinki, Finland released said Russia earned 93 billion euros ($97.4 billion) in revenue from fossil fuel exports in the first 100 days of the country’s invasion of Ukraine, despite a fall in export volumes in May. India and other

Indian oil not to accept Russian crude on free on board basis

Indian Oil Corporation (IOC) will no longer accept cargoes of Russian crude oil and Kazakh CPC Blend cargoes on a free-on-board (FOB) basis due to insurance risk, according to a tender notice and a source familiar with the matter. The letter was sent on Monday to traders who submit cargo offers into IOC’s regular crude