NEW DELHI: Russian oil now accounts for 10% of total crude imported by India as a surge in imports by private refiners during the April-May period has placed Moscow among the top-10 suppliers for the world’s third-largest consumer.
Senior government officials said India’s Russian oil imports have increased 50 times from 0.2% in the preceding 12 months. Total oil imports from Russia stood at 25 million barrels in May. Private refiners such as Reliance Industries Ltd and Rosneft-backed Nayara Energy accounted for 40% of those imports, the official said.
But still, West Asia remains India’s main oil supplier, with Iraq at the top.
