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Free AccessRussia Sent Record Level Fuel Oil, VGO to India in September
Russia sent record volumes of seaborne fuel oil and vacuum gasoil to India las month, totaling 1.4mn tons, up from 0.6mn tons in August, LSEG data and Reuters calculation showed.
- Russian fuel oil and VGO exports to India rose above 5.5mn tons in January-September 2023, up from 2.5mn tons in the same period in 2022.
- India buys straight-run fuel oil and VGO for refining, partially replacing more expensive Urals barrels, market sources told Reuters.
- The UAE, China, Singapore and Malaysia are also among the big importers of Russian fuel oil and VGO, accounting in total about 1.3mn tons in September.
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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.