India continues to buy large volumes of discounted Russian crude and is importing some of Russia’s Arctic crude oil varieties for the first time, taking advantage of cheap Russian cargoes to meet robust demand. Indian refiners imported last month the first-ever cargo of the Varandey crude blend from the Timan-Pechora oilfields operated by Russian firm Lukoil, according to tanker-tracking data from Vortexa cited by Argus.
Since the Russian invasion of Ukraine, India—the world’s third-largest crude oil importer—has also bought…India Boosts Imports Of Russia’s Arctic Oil
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