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India s crude oil imports in January hit 20-month high of 21 4 million tonnes

India s crude oil imports in January hit 20-month high of 21 4 million tonnes
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India emerges as top buyer of Venezuelan crude oil in December, January

Indian refiners had stopped oil imports from the Latin American country in 2020 after the United States (US) imposed sanctions on Caracas. With Washington temporarily easing restrictions on Venezuela’s oil sector in October, Indian refiners mainly Reliance Industries (RIL) are back in the market for Venezuelan oil that is likely available at a discounted price.

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Indian refiners turn to Iraq for record-high crude oil imports in Jan

Indian refiners turn to Iraq for record-high crude oil imports in Jan
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Diesel exports to Europe at record high in Dec as flows shift from Latin America

The displacement of Russian fuels away from Europe the major reason that led to the spurt in Indian fuel exports to the continent in the aftermath of the Ukraine invasion also continues to play a role in the equation.

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Russia | Russian oil tanker sailing off India coast awaits India s green light to enter domestic port and offload crude

Allowing vessel to unload cargo would be tantamount to breaking US oil sanctions against Russia; mid-sea, ship-to-ship transfer could be a way out

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