Import of oil, petroleum products, gas and coal in India

Main article: India's Foreign Trade

2024: Maintaining high volume of oil imports from Russia

2023

LNG import growth

Growth of oil imports from Russia to $37 billion

Sales of crude oil from Russia to India in 2023 amounted to a record $37 billion, CNN reported.

India has increased purchases of Russian oil by more than 13 times compared to 2021.

Some of the oil was processed by India and then exported to the United States in the form of oil products worth more than $1 billion.

Dynamics of oil exports from Russia to India

According to Russia analytics firm Kpler, May 2023 accounted for 46% of Indian oil imports, a stunning jump from less than 2% before the conflict began on. In absolute To Ukraine terms, May was a record.

Of course, over the past year, China has also begun to consume much more Russian oil, and its imports have reached record levels, but it is India, the US strategic partner, that has come to the fore to support the Russian economy.

India in February 2023 imported more oil from Russia than collectively from Iraq and Saudi Arabia.

Russia is still the largest supplier of crude oil, which is processed into gasoline and diesel at refineries, for the fifth month in a row, supplying more than one-third of all oil imported by India, Vortexa data shows.

Russia increased oil supplies to India in January 2023

2022

Tripling of coal purchases from Russia

In 2022, Russia exported 8.43 million tons of thermal coal to India, which is 3.6 times more than a year earlier. This is evidenced by data from the Indian industry consulting agency Coalmint, which was released in January 2023. Read more here.

India sharply increases oil imports from Russia for its processing and diesel exports to the EU

In December 2022, India purchased a record amount of Russian oil, with the country importing 33 times more than a year earlier.

According to Vortexa Ltd., the third largest oil importer in the world purchased an average of 1.2 million barrels per day from Russia in December. This is 29% more than in November. Sanctions by G7 countries and the EU may have led to increased rebates.

India began to actively increase oil purchases at a discount in order to act as an intermediary for the supply of fuel to the EU market.

India will process oil into diesel and send it to the countries. European Union

Russia comes out on top in oil supplies to India

Russia in May 2022 became the second largest oil supplier to India, pushing Saudi Arabia to third place.

In May, Indian oil refiners received an average of 819 thousand barrels of Russian oil per day. This is the highest number ever. For comparison, in April, refineries in India received on average about 277 thousand barrels of Russian oil per day.

The first place in the list of the largest oil exporters to India in May is still occupied by Iraq.

India broke into the once Chinese-dominated Russian oil market, accepting a record number of shipments of Far Eastern varieties as the fallout from Moscow's sting operation in Ukraine altered trade flows.

According to traders and ship brokers, in August 2022, six ships carrying Russian oil, known as ESPO, were heading to refineries in the South Asian country. This is the largest amount of cargo purchased by India since the flow was launched, and represents almost a fifth of the monthly deliveries available. "Now, ESPO crude is becoming a steady stream for India, a country that hasn't been a big fan of the variety for years," said Emma Lee, an analyst at Vortexa Ltd. "A flight to India will take longer, but deliveries can continue as long as the price remains attractive and there are no real sanctions blocking trade."

India became a key buyer of Russian energy resources after the start of the SVO, buying up millions of barrels of discounted oil, which was abandoned Europe and. USA As the conflict dragged on, the third-largest oil importer first increased purchases Russia of the flagship Urals grade, supplied from the western part, and now competes for ESPO, a high-distillate grade supplied from the east and usually preferred by Chinese buyers.

In October 2022, Russia came out on top among oil exporters to India, leaving behind Saudi Arabia and Iraq, traditionally leading in this area. It is reported by The Economic Times.

According to the publication, in October Russia supplied 946 thousand barrels of oil per day to India, which is 22% of all imports of crude oil to India.

2018: Low gasoline price

World Gasoline Price Map as of February 12, 2018