Reliance Industries, India’s largest firm and the nation’s largest non-public refiner, vehemently denied a Bloomberg report that used kpler knowledge and stated three shiploads of Russian crude oil have been headed to the corporate’s Jamnagar-based refinery.
Reliance, which is owned by billionaire Mukesh Ambani and was once India’s largest purchaser of Russian oil, stated it had not obtained any cargo prior to now three weeks, and neither is it anticipating any deliveries in January.
Posting a press release on X, Reliance Industries stated: “A information report in Bloomberg claiming “three vessels laden with Russian Oil are heading for Reliance Industries Restricted’s Jamnagar refinery” is blatantly unfaithful.
“Reliance Industries’ Jamnagar refinery has not obtained any cargo of Russian oil at its refinery prior to now three weeks approx. and isn’t anticipating any Russian crude oil deliveries in January.
“We’re deeply pained that these claiming to be on the forefront of honest journalism selected to disregard the denial by RIL of shopping for any Russian oil to be delivered in January and revealed a mistaken report tarnishing our picture.”
Indian refiner rejects Russian oil report
The Bloomberg report did carry a Reliance spokesperson’s assertion denying that the cargo had been bought by the corporate.
The Bloomberg report, citing knowledge from analytics agency kpler, had claimed that the three tankers have been carrying about 2.2 million barrels of Russia’s Urals crude have been signaling Jamnagar advanced as their subsequent vacation spot. The report famous that transport locations can change as vessels method their discharge ports.
In October, the USA imposed sweeping sanctions on Rosneft and Lukoil, two of Russia’s largest oil corporations, and Reuters had quoted a Reliance spokesperson as saying: “Recalibration of Russian oil imports is ongoing and Reliance will probably be totally aligned to Authorities of India tips on the extent of recalibration.”
India emerged as the most important purchaser of discounted Russian seaborne crude following the beginning of the Ukraine conflict in 2022 and Reliance accounted for about half of India’s 1.7 million barrels per day (bpd) imports from Moscow earlier than the pullback.
A Reuters report, quoting folks accustomed to the matter, stated Indian authorities requested refiners for weekly disclosures of Russian and US oil purchases. The sources stated they count on Russian crude imports to dip under 1 million barrels per day as New Delhi seeks to clinch a commerce cope with Washington.
