RUSSIA is edging towards becoming the largest supplier of oil to India, delivering one million and 1.2 million barrels a day to the world's third-largest oil importer, reports Bloomberg.
'When the price goes up and you are left with no option, you will buy from anywhere,' said Indian Oil Minister Hardeep Singh Puri. 'We have a very well defined understanding of what India's interests are.'
Deprived of many of its traditional European buyers, Moscow is on course to deliver somewhere between one million and 1.2 million barrels a day to the world's third-largest oil importer this month, according to tanker tracking figures.
That would place it with, or a little above, Iraq, and far ahead of Saudi Arabia. The surge in flows will be viewed with unease by Baghdad in particular, since Iraq's oil has increasingly had to discount to compete for market share in Asia.
Flows to Asia rose because European companies stopped buying, driving russia to find other markets.
Vessel tracking figures vary from provider to provider, depending on different assumptions and underlying information about cargoes. But figures from Kpler, Vortexa and Bloomberg all underscore the dominant position Russia has assumed in India.
Kpler's data show that arrivals of Russian oil into India averaged 1.2 million barrels a day so far in June, a quarter of all crude flowing into the country. Iraq's daily supplies will be around 1.01 million barrels, while Saudi Arabia's are on course for 662,000 a day.
Vortexa figures suggest Russian deliveries of 1.16 million barrels a day, more than Iraq's 1.131 million. Tanker tracking compiled by Bloomberg indicates that 988,000 barrels a day will arrive from Russia this month, slightly below a figure of 1.003 million a day from Iraq.
SeaNews Turkey
'When the price goes up and you are left with no option, you will buy from anywhere,' said Indian Oil Minister Hardeep Singh Puri. 'We have a very well defined understanding of what India's interests are.'
Deprived of many of its traditional European buyers, Moscow is on course to deliver somewhere between one million and 1.2 million barrels a day to the world's third-largest oil importer this month, according to tanker tracking figures.
That would place it with, or a little above, Iraq, and far ahead of Saudi Arabia. The surge in flows will be viewed with unease by Baghdad in particular, since Iraq's oil has increasingly had to discount to compete for market share in Asia.
Flows to Asia rose because European companies stopped buying, driving russia to find other markets.
Vessel tracking figures vary from provider to provider, depending on different assumptions and underlying information about cargoes. But figures from Kpler, Vortexa and Bloomberg all underscore the dominant position Russia has assumed in India.
Kpler's data show that arrivals of Russian oil into India averaged 1.2 million barrels a day so far in June, a quarter of all crude flowing into the country. Iraq's daily supplies will be around 1.01 million barrels, while Saudi Arabia's are on course for 662,000 a day.
Vortexa figures suggest Russian deliveries of 1.16 million barrels a day, more than Iraq's 1.131 million. Tanker tracking compiled by Bloomberg indicates that 988,000 barrels a day will arrive from Russia this month, slightly below a figure of 1.003 million a day from Iraq.
SeaNews Turkey
