Reliance: Reliance may avoid Russian fuel after sanctions, official says | India Business News – Times of India


NEW DELHI: Reliance Industries Ltd, operator of the world’s greatest refining complicated, could keep away from shopping for Russian fuels for its vegetation following Western sanctions on Moscow over its invasion of Ukraine, a senior firm official mentioned.
“Even when we are able to supply a number of the feeds (from Russia), in all probability we will likely be out of it due to the sanctions,” Rajesh Rawat, senior vice chairman and enterprise head cracker, informed an business occasion on Wednesday.
Reliance buys Urals crude and straight run gasoline oil for its refineries from Russia. The personal refiner largely buys its petrochemical feedstock from the Center East and the US.
Sanctions on Russia have prompted many firms and international locations to shun its oil, miserable Russian crude to report low cost ranges.
Rawat mentioned in India many of the oil provides from Russia are going to the state-run firms.
“So in all probability, these feed streams will nonetheless proceed, or could have a lesser impression in comparison with the personal sector gamers. As a result of we cope with banks, and likewise even when we are able to supply a number of the feeds (from Russia), in all probability we will likely be out of it due to the sanctions,” Rawat informed the Asia Refining and Petrochemical Summit.
Since Russia’s invasion of Ukraine started on Feb. 24, the nation’s prime refiner Indian Oil Corp has purchased 3 million barrels of Russian Urals crude and Hindustan Petroleum has purchased 2 million barrels of the oil via tenders.


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