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Russia's oil exports to Asia rise by 25%, surpassing Iraq and Saudi Arabia
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Economy News _ Baghdad
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Added 01/17/2023 - 9:53 AM
Updated 01/17/2023 - 1:56 PM
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Economy News _ Baghdad
Global Marketing Services Company "Clubber" announced that Russia's oil exports to Asia rose 25%, surpassing both Iraq and Saudi Arabia.
The company said that Russia headed with the intensification of Western sanctions on it to new markets alternative to Europe to market oil and gas, and China and India were its destinations, noting that, at the end of 2022, Russia occupied about 25% of the shares of crude imports to India and China, bypassing other suppliers. Like Iraq and Saudi Arabia.
And she added, "The low price of Russian crude aroused the appetite of refineries in New Delhi and Beijing, while Arab suppliers sought to provide European refineries with flows as a more profitable alternative."
And she indicated that "the largest Indian refineries, the Jamnagar Refinery, received shipments of crude and fuel oil from Moscow in an amount of up to 215 shipments, equivalent to the purchase rate during the previous year 2021, about 4 times."
And she explained that "India's imports increased from other major suppliers for the month of December, as purchases from Iraq rose 7% to about 886,000 barrels per day, while purchases from Saudi Arabia increased by 12% to about 748,000 barrels per day."
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Added 01/17/2023 - 9:53 AM
Updated 01/17/2023 - 1:56 PM
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