28.02.2024, 15:34
In India told about the difficulties with the supply of Russian oil from the United States
Source: OREANDA-NEWS
OREANDA-NEWS New US sanctions may further reduce the supply of Russian oil to India, which has become the largest buyer of raw materials over the past year, due to a shortage of tankers. This is reported by Reuters with reference to three sources in the industry.
We are talking about the restrictions announced last week on the second anniversary of the outbreak of hostilities in Ukraine. 14 tankers associated with Sovcomflot, which were engaged in the delivery of shipments, were sanctioned.
According to the agency's interlocutors, this situation creates a shortage of ships and may lead to an increase in freight rates, which, in turn, will make deliveries less profitable. They also do not rule out that Russia will conduct more oil volumes through traders, and those will increase their income by raising prices for end customers.
Last year, Russia became the main supplier of oil to India. On average, the country imported 1.66 million barrels per day, which is 2.5 times more than a year earlier. However, the current conditions offered by Moscow look much less favorable, sources say. Amid uncertainty about the stability of supplies, refiners are in no hurry to sign contracts.
In early February, it was reported that Russian suppliers could not agree with the Indian oil refining company Bharat Petroleum Corp (BPCL) on the sale of premium grade Sokol oil. Increased pressure from the United States to implement the oil price ceiling forced the partners to reconsider the terms of purchases. As a result, in January, Russian oil imports fell to the lowest level in a year.
Earlier, the Kommersant newspaper reported that the start of supplies of liquefied natural gas (LNG) from the Arctic LNG-2 project may be postponed indefinitely due to the lack of gas carriers. The same US sanctions have called into question the transfer of ships under construction at a shipyard in South Korea.
We are talking about the restrictions announced last week on the second anniversary of the outbreak of hostilities in Ukraine. 14 tankers associated with Sovcomflot, which were engaged in the delivery of shipments, were sanctioned.
According to the agency's interlocutors, this situation creates a shortage of ships and may lead to an increase in freight rates, which, in turn, will make deliveries less profitable. They also do not rule out that Russia will conduct more oil volumes through traders, and those will increase their income by raising prices for end customers.
Last year, Russia became the main supplier of oil to India. On average, the country imported 1.66 million barrels per day, which is 2.5 times more than a year earlier. However, the current conditions offered by Moscow look much less favorable, sources say. Amid uncertainty about the stability of supplies, refiners are in no hurry to sign contracts.
In early February, it was reported that Russian suppliers could not agree with the Indian oil refining company Bharat Petroleum Corp (BPCL) on the sale of premium grade Sokol oil. Increased pressure from the United States to implement the oil price ceiling forced the partners to reconsider the terms of purchases. As a result, in January, Russian oil imports fell to the lowest level in a year.
Earlier, the Kommersant newspaper reported that the start of supplies of liquefied natural gas (LNG) from the Arctic LNG-2 project may be postponed indefinitely due to the lack of gas carriers. The same US sanctions have called into question the transfer of ships under construction at a shipyard in South Korea.
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