Russia ramps up January oil exports, India remains top buyer

[Raj-Hindustani]

Russia ramps up January oil exports, India remains top buyer​

Reuters

The oil products tanker Nord and a bulk carrier sail near the crude oil terminal Kozmino in Nakhodka Bay near the port city of Nakhodka, Russia, December 4, 2022. REUTERS/Tatiana Meel

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MOSCOW, Jan 23 (Reuters) - Urals and KEBCO crude oil loadings from Russia's Baltic ports of Primorsk and Ust-Luga are set to rise by 50% this month from December as sellers try to meet strong demand in Asia and benefit from rising global energy prices, traders said and Reuters calculations showed.
Around 70% of January cargoes of Urals oil are heading to India, according to traders' data and Reuters calculations. India has been a top buyer of the Russian grade for several months now, filling the void left by EU buyers.
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In December India's oil imports jumped to a five-month record amid active buying of the Russian oil. China, which is seen as the second largest buyer of Urals in January, is also raising oil purchases in physical markets.

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Oil prices rose by around 1% on Monday to a seven-week high as the market expected economic recovery in top oil importer China this year.
Supplies of oil from Russia and Kazakhstan via Primorsk and Ust-Luga will reach 7.1 million tonnes in January for the highest level since 2019, loading plans show.

Latest Updates​

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• OPEC+ panel unlikely to tweak oil policy at Feb. 1 meeting, sources say
• Indonesia's Pertamina to adjust refinery investment plans amid energy shift
• U.S. oil & gas M&A hit 17-year low; big firms dominate deals-report

On top of that, the ports will load 300,000 tonnes of crude to catch up after delays meant that December's export plan was not completed, Reuters sources said.
Russia loaded 4.7 million tonnes of Urals and KEBCO from Baltic ports in December, traders said and Refinitiv data showed.
Last year Kazakhstan changed the name of the oil it exports via Russian sea ports, from Urals to Kazakhstan Export Blend Crude Oil (KEBCO), dissociating it from oil originating in Russia to avoid sanction risks and issues with financing.

Russia ramps up January oil exports, India remains top buyer

Urals and KEBCO crude oil loadings from Russia's Baltic ports of Primorsk and Ust-Luga are set to rise by 50% this month from December as sellers try to meet strong demand in Asia and benefit from rising global energy prices, traders said and Reuters calculations showed.

www.reuters.com

Around 70% of January cargoes of Urals oil are heading to India, according to traders' data and Reuters calculations. India has been a top buyer of the Russian grade for several months now, filling the void left by EU buyers.

 

[Muhammed45]

Great!

 

[Suriya]

Pakistan was denied cheap Russian oil as it sells weapons and ammu to Ukraine.

 

[大汉奸柳传志]

Pakistan was denied cheap Russian oil as it sells weapons and ammu to Ukraine.

if it's not for the Russian oil discount India would sell its T-72s to Ukraine in a heartbeat!

 

[Raj-Hindustani]

India imports record-high Russian oil in January: Report​

India imports record-high Russian oil in January: Report

Russian oil last month accounted for about 27% of the 5 million bpd of crude imported by India, the world's third-biggest oil importer and consumer

www.livemint.com

 

[Suriya]

if it's not for the Russian oil discount India would sell its T-72s to Ukraine in a heartbeat!

You are talking about the great country India who started non-aligned movement even at the height of cold war.

 

[-blitzkrieg-]

Pakistan was denied cheap Russian oil as it sells weapons and ammu to Ukraine.

Wrong.. the offer ended way before that..

And ammo for Ukraine is not any issue .its plain business.

 

[Dalit]

Good for Hindustan.

What about Bilawal's promise regarding cheap Russian oil?

Wrong.. the offer ended way before that..

And ammo for Ukraine is not any issue .its plain business.

In another thread you guys were defending Pakistani sale of ammo to Ukraine...

 

[-blitzkrieg-]

Good for Hindustan.

What about Bilawal's promise regarding cheap Russian oil?



In another thread you guys were defending Pakistani sale of ammo to Ukraine...

Yes I do..I defended above as well.did you fail English comprehension

 

[StraightEdge]

Wrong.. the offer ended way before that..

And ammo for Ukraine is not any issue .its plain business.

It maybe business, but clearly it didn't work out well for Pakistan.

 

[surmabhopali]

Russia ramps up January oil exports, India remains top buyer​

Reuters

The oil products tanker Nord and a bulk carrier sail near the crude oil terminal Kozmino in Nakhodka Bay near the port city of Nakhodka, Russia, December 4, 2022. REUTERS/Tatiana Meel

• Companies
• Ust'-Luga Oil OAO
  Follow

MOSCOW, Jan 23 (Reuters) - Urals and KEBCO crude oil loadings from Russia's Baltic ports of Primorsk and Ust-Luga are set to rise by 50% this month from December as sellers try to meet strong demand in Asia and benefit from rising global energy prices, traders said and Reuters calculations showed.
Around 70% of January cargoes of Urals oil are heading to India, according to traders' data and Reuters calculations. India has been a top buyer of the Russian grade for several months now, filling the void left by EU buyers.
Advertisement · Scroll to continue
Report an ad
In December India's oil imports jumped to a five-month record amid active buying of the Russian oil. China, which is seen as the second largest buyer of Urals in January, is also raising oil purchases in physical markets.

Register for free to Reuters and know the full story​

Register now
Oil prices rose by around 1% on Monday to a seven-week high as the market expected economic recovery in top oil importer China this year.
Supplies of oil from Russia and Kazakhstan via Primorsk and Ust-Luga will reach 7.1 million tonnes in January for the highest level since 2019, loading plans show.

Latest Updates​

• Oil dips $1 on global economic concerns
• Brazil's Petrobras hikes gasoline prices ahead of board vote on Lula's CEO pick
• OPEC+ panel unlikely to tweak oil policy at Feb. 1 meeting, sources say
• Indonesia's Pertamina to adjust refinery investment plans amid energy shift
• U.S. oil & gas M&A hit 17-year low; big firms dominate deals-report

On top of that, the ports will load 300,000 tonnes of crude to catch up after delays meant that December's export plan was not completed, Reuters sources said.
Russia loaded 4.7 million tonnes of Urals and KEBCO from Baltic ports in December, traders said and Refinitiv data showed.
Last year Kazakhstan changed the name of the oil it exports via Russian sea ports, from Urals to Kazakhstan Export Blend Crude Oil (KEBCO), dissociating it from oil originating in Russia to avoid sanction risks and issues with financing.

Russia ramps up January oil exports, India remains top buyer

Urals and KEBCO crude oil loadings from Russia's Baltic ports of Primorsk and Ust-Luga are set to rise by 50% this month from December as sellers try to meet strong demand in Asia and benefit from rising global energy prices, traders said and Reuters calculations showed.

www.reuters.com

Around 70% of January cargoes of Urals oil are heading to India, according to traders' data and Reuters calculations. India has been a top buyer of the Russian grade for several months now, filling the void left by EU buyers.

I think cash was the problem for Pakistan for not getting oil from russia .

 

[Raj-Hindustani]

I think cash was the problem for Pakistan for not getting oil from russia .

Initially, Pakistan was seeking a similar agreement with Russia (as with India), but given that Pak is currently supplying arms to Ukraine, I doubt that Russia will make such an offer to Pakistan.

 

[pikkuboss]

Initially, Pakistan was seeking a similar agreement with Russia (as with India), but given that Pak is currently supplying arms to Ukraine, I doubt that Russia will make such an offer to Pakistan.

Russia has too many customers now after Biden declared $60 price cap with no sanction. Russia will prefer old customers to new ones as they would get the same price from everyone. India is a huge buyer and can gobble up whatever is being shipped through ships from western ports. They need customers for its pipeline shipments, ships are all booked in advance by China and India.

 

[-blitzkrieg-]

It maybe business, but clearly it didn't work out well for Pakistan.

Russia still selling us oil..

 

[Raj-Hindustani]

Russia still selling us oil..

let us know when the deal is completed. We appreciate your help because we haven't seen it happen over the past year