Nayara buys Urals after 1 year; IOC books another 3 million barrels
Indian private refiner Nayara Energy, part-owned by Russia’s Rosneft, has purchased Russian oil after a gap of a year, buying about 1.8 million barrels of Urals from trader Trafigura, two trade sources said and Refinitiv data shows.
Indian companies are snapping up Russian oil as it is available at a deep discount after some companies and countries shunned purchases from Moscow due to sanctions over its invasion of Ukraine.
On Wednesday Indian Oil Corp, the country’s top refiner also bought 3 million barrels of Russian oil via a tender for May loading from trader Vitol, traders said. This is the second purchase of Russian oil by IOC this month.
