Page 136 - CW E-Magazine (10-6-2025)

Hydrocarbons

ENERGY IMPORTS

India’s imports of Russian oil hit 10-month high

in May

India’s imports of Russian crude
oil surged to a 10-month high of
1.96-mbpd (million barrels per day) in
May, driven by continued availability
at signifi cant discounts compared to
global benchmark prices, according to
ship-tracking data from Kpler.

India, the world’s third largest
oil importing and consuming nation,
bought from abroad around 5.1-mbpd
of crude oil. Of this, Russia was the
largest supplier, accounting for over
38%. Iraq maintained its position
as the second-largest supplier, with
1.2-mbpd of sales to India.Saudi
Arabia exported 0.615-mbpd, while sanctions and some European countries Kpler sees Russian crude retaining
the UAE supplied 0.490-mbpd and shunning purchases. a 30-35% share in India’s import mix,
the US0.280-mbpd. especially if refi ning margins remain
This led to India’s imports of Russian strong, Crude exports from the Middle
India, which has traditionally oil seeing a dramatic rise, growing from East to India are expected to retain
sourced its oil from the Middle East, less than 1% of its total crude oil a stable to slightly lower share in the
began importing a large volume of oil imports to a staggering 40-44% in a near term, infl uenced by seasonal refi -
from Russia soon after the invasion short period. nery patterns and continued competition
of Ukraine in February 2022. This is from Russian supplies. Nonetheless,
primarily because Russian oil was avail- This pricing edge has supported the region’s long-term strategic relia-
able at a signifi cant discount to other stronger refinery gross margins for bility ensures that it remains an impor-
international benchmarks due to Western Indian processors. tant component of India’s supply chain.

Oil India commences gas production from Jaisalmer

block

Oil India Ltd. (OIL) has offi cially
commenced gas production from the
Bakhritibba Discovered Small Field
(DSF) block located in the arid terrains
of Western Rajasthan’s Jaisalmer
District with effect from June 1, 2025.

OIL has successfully drilled 3 MWP
wells within the development period
leading to supply of 67,200 scmd (stan-
dard cubic metres per day) of gas, which
to be further enhanced 100-scmd.

136 Chemical Weekly June 10, 2025

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