Russian oil shaves India’s import costs by about $2.7 bln

Russian oil shaves India’s import costs by about $2.7 bln

NEW DELHI: India saved roughly $2.7 billion by importing discounted Russian oil in the first nine months of this year, according to calculations based on government data, helping it support economic growth and easing pressure on its trade deficit. Crude oil accounts for about a third of India’s overall imports by value. The world’s third-biggest … Read more

Russia oil discount to India shrinks to $4, delivery charges remain opaque

Russia oil discount to India shrinks to $4, delivery charges remain opaque

The steep discounts on Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain ‘opaque’ and higher than normal, sources said. Russia bills Indian refiners at a price shade less than the $60 per barrel price cap imposed by the West … Read more