India's Russian Oil Imports Drop 47% in December
India's crude oil imports from Russia projected to fall by 47% to 1 million bpd in December due to US sanctions on Rosneft and Lukoil. Indian refiners diversifying supply sources.
India's crude oil imports from Russia projected to fall by 47% to 1 million bpd in December due to US sanctions on Rosneft and Lukoil. Indian refiners diversifying supply sources.
India's Russian oil imports set to drop to 600,000-650,000 bpd in December, lowest in 3 years due to Western sanctions. Refiners turn to alternatives as US tightens measures.
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In a significant strategic shift, Nayara Energy, part-owned by steel magnate Lakshmi Mittal, has stopped purchasing Russian crude oil. This move comes as Western sanctions tighten and payment complications escalate.
HPCL-Mittal Energy Ltd, the joint venture between steel tycoon Lakshmi Mittal and Hindustan Petroleum, suspends all Russian crude purchases citing US sanctions. The move signals growing compliance challenges for Indian refiners.
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