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OIL
India received a fuel oil cargo from a Russian Sovcomflot tanker on Friday after a brief halt following stricter US led sanctions against the firm.
- The SCF Baltica, carrying 90,000 metric tons of fuel oil for Reliance Industries is understood to have discharged its cargo on Friday at a western Indian port.
- The SCF Baltica is not among the 14 ships that were hit with sanctions in recent months by Washington.
- Indian refiners, including Reliance had been wary about pulling in cargoes via Sovcomflot tankers which were sanctioned February 23, resulting in most of the India bound cargoes diverting to China.
- More Indian refiners are scheduled to receive Russian oil cargoes loaded on SCF vessels, according to LSEG flows – see image for list of vessels.
Source: LSEG
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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