India Surpasses Turkey as Key Supplier of Petrol to Russia Amid Refinery Attacks
India has emerged as a significant exporter of petrol to Russia, shipping nearly 1 million barrels over the past two months. This surge in exports comes amid widespread Ukrainian drone attacks that have crippled Russian refineries, forcing Moscow to rely on imports to meet domestic demand.
Russia's seaborne gasoline imports reached a record 470,000 tonnes in August, with long queues of cars at local filling stations reflecting the shortage of fuel. As a result of Ukraine's drone attacks, Russia's domestic fuel production dropped by as much as 70 per cent, prompting Moscow to ban exports of petrol and diesel.
Indian refiners, along with Turkey and Morocco, have been among the key suppliers to help Russia meet its shortfall in domestic fuel production. Much of India's supply has come from Nayara Energy's refinery at Vadinar on the Gujarat coast, which is a joint venture between Russian oil major Rosneft.
India's position as a significant exporter of petrol to Russia highlights the country's growing importance as a refiner and its efforts to diversify its energy sources. With global refining capacity facing uncertainty, India is expanding its capacity from 272 MMTPA towards 300 MMTPA.