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India, the world's third biggest oil importer and consumer, also raised imports from Iraq while taking less Saudi oil, the data showed. India imported about 1.55 million barrels per day (bpd) of Russian oil in September, 16% more than in August, while imports from Iraq increased by 17% to about 1.1 million bpd, LSEG data showed. Vortexa pegged imports of Russian oil at 1.52 million bpd, compared with 1.44 million bpd in August. India's Saudi Oil Imports surged in Aug, Russia fell to 7-mth lowAccording to Kpler data, India's imports of Russian crude jumped back to 1.8 million bpd in September from less than 1.5 million bpd in August. They mostly purchase Russian oil on the spot market, while largely relying on term contracts for Middle Eastern crude.

Persons: Viktor Katona, Kpler's Katona, Nidhi Verma, Mohi Narayan, Arpan Varghese, Simon Cameron, Moore Organizations: Saudi Oil Imports, Thomson Locations: DELHI, Russia, LSEG, India, Iraq, Kpler, Saudi Arabia, Ukraine

Pakistan paid for its first Russian crude cargo in Chinese yuan. "How will it pay other lenders and how will it finance trade with China if it uses the low yuan reserves to pay for Russian oil?" However, Urals quality is a deterrent, as Pakistan's refineries cannot get as much gasoline and diesel out of Urals crude as they produce from Saudi and UAE crudes. Kpler's Katona expects Pakistan's liquidity issues and technical challenges to weigh on its appetite for Russian crude. "Russian imports into Pakistan will not grow into anything bigger than one cargo per month," he said.

Persons: Shahbaz Ashraf, Aadil Nakhoda, Nakhoda, Viktor Katona, Zahid Mir, Mir, PRL, Kpler's Katona, Ariba Shahid, Charlotte Greenfield, Florence Tan, Sonali Paul Organizations: Pakistan, United, FRIM Ventures, Karachi's Institute of Business Administration, Saudi, Pakistan Refinery Ltd, Reuters, Thomson Locations: KARACHI, Pakistan, Ukraine, Russia, Saudi Arabia, United Arab Emirates, Islamabad, Moscow, China, PORT, Oman, Saudi Arab, Saudi, UAE, Karachi, Sudarshan, Singapore

☆ India's reliance on Russian oil may be 'approaching a limit'
▼ + stars: | 2023-07-18 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Dhiraj Singh | Bloomberg | Getty ImagesIndia's ability to import more Russian oil may have hit a limit for the rest of the year, analysts tell CNBC, citing infrastructural and political constraints, as well as limitations to Russian oil flows. Since the Kremlin's invasion of Ukraine in February last year, India's refiners have been snapping up discounted Russian oil. Moscow has since leapfrogged to become India's leading source of crude oil, accounting for about 40% of India's crude imports. June marked the 10th consecutive month-on-month increase in India's imports of Russian crude, data from commodity intelligence firm Kpler showed. And that's the highest volume that India's imports of Russian oil can go — at least for the rest of the year, according to his predictions.

Persons: Dhiraj Singh, Janiv Shah, India's, Kpler, Viktor Katona, Daniel Hynes, Rystad Energy's Shah, Katona, Hynes, that's, Kpler's Organizations: Bharat Petroleum Corp, Bloomberg, Getty, CNBC, Rystad Energy, ANZ, India's Petroleum, International Energy Agency, Kpler Locations: Mumbai, India, Ukraine, Moscow, Russia, Asia, Kpler Russia

☆ Crisis-hit Sri Lanka — which ran out of fuel earlier this year — snaps up cheap Russian oil for the first time ever
▼ + stars: | 2022-10-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Sri Lanka has been buying large amounts of Russian crude since March 2022. Three months ago, Sri Lanka said it was sending an official delegation to Russia to negotiate oil deals amid a crippling fuel shortage. But it's just one of the emerging markets dealing with economic crises now lining up to buy discounted Russian oil. It's unlikely that Sri Lanka had ever purchased Russian crude before March this year, Kpler's lead crude analyst Viktor Katona said. The US has banned Russian crude and the European Union set to implement an oil embargo on Russian oil by the end of the year.

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