Saturday, May 21, 2022
HomeBusinessWho Is Still Buying Russian Crude Oil, And Who Is Not Anymore?

Who Is Still Buying Russian Crude Oil, And Who Is Not Anymore?

Factbox-Who’s shopping for Russian crude oil and who has stopped

Australia, Britain, Canada and the USA have imposed outright bans on Russian oil purchases following Moscow’s invasion of Ukraine, however the European Union stays divided.

The bloc’s 27 members have been unable to agree on an embargo, with Germany warning towards hasty steps that would push the financial system into recession, and a few international locations, comparable to Hungary, opposing any bans.

Germany, nonetheless, goals to section out Russian oil imports by the tip of this yr, officers stated, as does Poland.

Many consumers in Europe are shunning Russian crude voluntarily to keep away from reputational harm or doable authorized difficulties.

China’s state refiners, such Sinopec, have been honouring present Russian oil contracts, however avoiding new ones regardless of steep reductions to not be seen as brazenly supporting Moscow.

In the meantime, India, the world’s third largest oil importer, has elevated crude oil purchases from Russia, benefiting from deep reductions.

It has booked a minimum of 16 million barrels of Russian oil because the invasion of Ukraine on February 24, near the extent of its imports for all of 2021, Reuters calculations present.

Beneath are present and former consumers of Russian crude (in alphabetical order):


BHARAT PETROLEUM: Indian state-run refiner Bharat Petroleum Corp Ltd has purchased 2 million barrels of Russian Urals for Could loading from dealer Trafigura, two sources accustomed to the acquisition stated. The corporate usually buys Russian Urals for its 310,000 barrels per day (bpd) Kochi refinery in southern India.

HELLENIC PETROLEUM: Greece’s greatest oil refiner depends on Russian crude for about 15 per cent of its consumption. The corporate earlier this month secured extra provides from Saudi Arabia.

HINDUSTAN PETROLEUM: India’s state refiner purchased 2 million barrels of Russian Urals for Could loading, in response to buying and selling sources final week.

INDIAN OIL CORP: India’s high refiner on March 23 purchased 3 million barrels of Urals for Could supply from Vitol, commerce sources stated. That is the second buy of Urals by IOC since Russia invaded Ukraine on February 24.

The corporate has a contract with Rosneft that provides it an possibility to purchase as much as 2 million tonnes, equal to about 15 million barrels, of Urals crude in 2022.

ISAB: Italy’s largest refinery, owned by Lukoil-controlled Swiss-based Litasco SA, processes Russian and non-Russian crudes.

LEUNA: The land-locked Leuna refinery in japanese Germany, majority-owned by TotalEnergies, can be fed Russian crude by the Druzhba pipeline.

MANGALORE REFINERY AND PETROCHEMICALS: State-run Indian refiner has purchased 1 million barrels of Russian Urals crude for Could loading by way of a young from a European dealer, a uncommon buy pushed by the low cost supplied.

MIRO: Russian crude continues to account for about 14 per cent of the consumption at Germany’s largest refinery, Miro, which is 24 per cent owned by Rosneft..

MOL: The Hungarian oil group, which operates three refineries in Croatia, Hungary and Slovakia, continues to purchase Russian crude by way of Druzhba pipeline, in addition to refined merchandise, an organization supply informed Reuters.

Hungary is against sanctions on Russian oil and fuel.

NAYARA ENERGY: Indian personal refiner, part-owned by Russia’s Rosneft, has bought Russian oil after a spot of a yr, shopping for about 1.8 million barrels of Urals from dealer Trafigura.

NEFTOCHIM BURGAS: A Bulgarian refinery, owned by Russia’s Lukoil, and with Russian crude accounting for about 60 per cent of its consumption, continues to refine Russian crude.

PCK SCHWEDT: Germany’s PCK Schwedt refinery, 54% owned by Rosneft, receives crude oil by way of the Druzhba pipeline.

PERTAMINA: Indonesian state vitality agency PT Pertamina is contemplating shopping for crude oil from Russia because it seeks oil for a newly revamped refinery.

PKN Orlen: Poland’s largest refiner has stopped shopping for Russian crude on the spot market, switching to North Sea oil, however remains to be shopping for Urals underneath beforehand signed contracts which expire by the tip of this yr or later.

The corporate, which operates refineries in Lithuania, Poland and the Czech Republic, noticed its revenue from refining surge in March due to the low cost it pays for Russian oil.

ROTTERDAM REFINERY: Exxon Mobil declined to touch upon whether or not its Dutch refinery in Rotterdam was utilizing Russian crude oil.

SINOPEC: China’s state-run Sinopec, Asia’s largest refiner, is constant to buy Russian crude underneath beforehand signed long-term contracts however is steering clear of recent spot offers.

ZEELAND REFINERY: The Dutch refinery, 45 per cent owned by Lukoil, declined to touch upon whether or not it was utilizing Russian crude oil.


BP: The British oil main, which is abandoning its stake in Rosneft, is not going to enter new offers with Russian entities for loading at Russian ports, until “important for guaranteeing safety of provides”.

ENEOS: Japan’s greatest refiner has stopped shopping for crude oil from Russia, whereas some cargoes signed underneath earlier agreements will arrive in Japan till round April.

ENI: The vitality group, 30.3 per cent owned by the Italian authorities, is suspending purchases of Russian oil.

No Russian crude shall be used at Germany’s Bayernoil refinery, during which Eni and Rosneft have stakes.

EQUINOR: Norway’s majority state-owned vitality agency has stopped buying and selling Russian oil because it winds down its operations within the nation.

GALP: The Portuguese oil and fuel firm has suspended all new purchases of petroleum merchandise from Russia or Russian firms.

GLENCORE: The worldwide mining and buying and selling agency, which holds 0.57% stake in Rosneft, stated it might proceed to honour its obligations underneath beforehand signed contracts, however would “not enter into any new buying and selling enterprise in respect of Russian origin commodities until directed by the related authorities authorities”.

NESTE: The Finnish refiner has Russian oil contracts till the tip of the yr, however isn’t making any new provide agreements.

PREEM: Sweden’s largest refiner, owned by Saudi billionaire Mohammed Hussein al-Amoudi, has “paused” new orders of Russian crude, which accounted for round 7% of its purchases, changing them with North Sea barrels.

REPSOL: The Spanish firm has stopped shopping for Russian crude oil within the spot market.

SHELL: The world’s largest petroleum dealer will cease shopping for Russian crude and section out its involvement in all Russian hydrocarbons.

TOTALENERGIES: The French oil main is not going to signal new contracts, promising to cease shopping for Russian crude oil and petroleum merchandise by the tip of this yr.

VARO ENERGY: The Swiss refiner, which owns 51.4 per cent in Germany’s Bayernoil refinery, stated it didn’t plan to enter into new offers to purchase Russian crude.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

Hello Guys, My name is Yugant Barabte, Passionate about Digital Marketing. I am in Digital Marketing since 2019.In January 2019 I started my youtube channel, because of inconsistency and lack of knowledge. It was a failure.After that, I have created some websites and blogs with copy paste work, that also didn’t work for me. I was a beginner at that time. And I am just focusing on earning money through digital marketing as soon as possible.Then I realize that doing Digital Marketing for earning money will not work. The thing which will work here is patience.After failing many time. I decided to learn more about Digital marketing. Then, I watched lots of youtube videos and read many articles related to digital Marketing, blogging, Seo.After getting enough knowledge I have started this blog named SpeedTechSyst . And, this is working now because this time I have knowledge and patience also.


Please enter your comment!
Please enter your name here

Most Popular

Recent Comments