The Gold Ten data on January 23 reported that Indian oil refiners are seeking all possible ways to compensate for the impact of the latest round of US sanctions on Russian oil flows. They are turning to the Giao ngay market and seeking more long-term supply from Middle Eastern producers. In recent weeks, Indian state-owned processors have issued a series of Giao ngay tenders, snapping up oil from around the world, including the Middle East, Africa, and the United States. Some shipments are planned to be loaded as early as February, indicating that India urgently needs alternatives to Russian oil. Indian companies started negotiations with Saudi Arabia and Abu Dhabi this week, and traders said discussions between refiners and OPEC oil-producing countries would be tense. The US may not be able to impose full sanctions on traders, Russian tankers, and so on, but refiners are concerned about punitive measures that could leave India struggling to replace up to 1.8 million barrels of Russian crude oil per day (one-third of the country's total imports). They added that they also need to rebuild relationships and change shipping routes.
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The Gold Ten data on January 23 reported that Indian oil refiners are seeking all possible ways to compensate for the impact of the latest round of US sanctions on Russian oil flows. They are turning to the Giao ngay market and seeking more long-term supply from Middle Eastern producers. In recent weeks, Indian state-owned processors have issued a series of Giao ngay tenders, snapping up oil from around the world, including the Middle East, Africa, and the United States. Some shipments are planned to be loaded as early as February, indicating that India urgently needs alternatives to Russian oil. Indian companies started negotiations with Saudi Arabia and Abu Dhabi this week, and traders said discussions between refiners and OPEC oil-producing countries would be tense. The US may not be able to impose full sanctions on traders, Russian tankers, and so on, but refiners are concerned about punitive measures that could leave India struggling to replace up to 1.8 million barrels of Russian crude oil per day (one-third of the country's total imports). They added that they also need to rebuild relationships and change shipping routes.