India abandoned Russian diesel

Indian oil refineries will not purchase a Russian diesel engine, Reuters reports with reference to sources in the industry and representatives of the plants.

According to one of them, the cost of imports taking into account freight and insurance is too high and exceed the “ceiling” introduced by the G7 countries – $ 100 per barrel. India completely provides itself with a diesel engine, says the source of the agency from among the leaders of the refinery. And it is unprofitable to buy Russian fuel for re-export due to superprofits current in India, he explains.

According to Reuters sources, India is ready to buy only the cheapest Russian oil products. So, Reliance Industries, the owner of the world’s largest oil refining complex, increased the import of Russian Nafta in February, and also tripled the purchases of fuel oil. Its example may be followed by Bharat Petroleum and Indian Oil, who need Nafta as cheap raw materials for petrochemistry.