India resumes purchases of Russian oil

India's largest oil refiner has leased Aframax-class tankers from RusExport and is sending supplies to a refinery with a capacity of 660,000 barrels per day, which supplies the domestic market, according to Bloomberg.

Reliance's return to the market is likely to reduce the decline in India's purchases of Russian oil.

In addition to the 660,000-barrel-per-day Jamnagar refinery, which is focused on the domestic market, Reliance also operates a 700,000-barrel-per-day facility for export. Since then, all Russian oil supplies have been going only to the refinery that handles domestic sales.

Indian officials estimated this month that oil imports from Russia could fall to around 800,000 barrels per day from an average of 1.9 million barrels per day in November due to the cessation of purchases by oil refiners.

Photo: Channel 24.