logo
Supertanker delivers oil to sanctioned Nayara Energy's Vadinar refinery, sources say

Supertanker delivers oil to sanctioned Nayara Energy's Vadinar refinery, sources say

Reuters6 days ago
SINGAPORE/NEW DELHI, July 30 (Reuters) - Supertanker Kalliopi was in the process of discharging Iraqi oil for India's Nayara Energy on Wednesday, the first delivery of crude for the refiner since it was sanctioned by the European Union, five sources familiar with the matter said.
More than half of the two million barrels of Basrah volume on board the vessel had been discharged, one of the sources said, with the unloading expected to be completed on Thursday, a second source said.
The supertanker is the first to deliver crude to Nayara's Vadinar refinery in the past 12 days, Kpler ship-tracking data showed.
Nayara did not immediately respond to a Reuters request for comment. The EU unveiled new sanctions on Russia and its energy trade that targeted the company on July 18.
Another tanker, Nusa Merdeka, has delayed discharging Russian crude oil at Nayara's port, one of the sources said. The tanker was scheduled to discharge Urals on July 26 at Vadinar but has since been hovering near the anchorage, the person said.
It was not immediately clear why the tanker did not discharge on schedule.
Last week, the oil tanker Omni carrying Russian Urals crude diverted away from Nayara Energy's Vadinar port to discharge its cargo at the port of Mundra in India.
Nayara, which is majority owned by Russian companies, has reduced crude runs at its 400,000 barrels-per-day site to 70-80%, Reuters reported on Tuesday.
Meanwhile, product tankers carrying fuel loaded from Nayara Energy's Vadinar site are afloat without discharging cargoes as shippers and traders avoid dealing with it.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India's Nayara exports first gasoline since sanctions, sources say
India's Nayara exports first gasoline since sanctions, sources say

Reuters

time5 minutes ago

  • Reuters

India's Nayara exports first gasoline since sanctions, sources say

NEW DELHI/SINGAPORE, Aug 5 (Reuters) - Russia-backed Indian refiner Nayara Energy has exported its first gasoline cargo since the privately-owned company was sanctioned by the European Union on July 18, according to four shipping sources and LSEG data. The tanker Tempest Dream, carrying about 43,000 metric tons (363,350 barrels) of gasoline, sailed on Monday, according to the sources and LSEG shipping data. The vessel, sanctioned by Britain in June, is headed to Sohar, Oman, shipping data showed, although buyer details could not be verified. Mumbai-based Nayara Energy did not immediately respond to a Reuters request for comment. A second vessel, the Sard, is currently at the western Indian port of Vadinar used by Nayara, set to lift about 43,000 tons of diesel, according to two sources and LSEG shipping data. Nayara has been forced to reduce crude runs at its 400,000-barrel-per-day refinery in Vadinar due to difficulties in obtaining ships and selling fuel from the port in the wake of the sanctions, Reuters has reported. Nayara, which runs 6,600 fuel stations in India, has approached state fuel retailers for domestic sale of products, industry sources have said. It recently used tanker Leruo to move about 43,000 tons of diesel to Mundra port in western India, data from traders and Kpler shiptracking showed. The Leruo and Sard have been sanctioned by the EU since July and May respectively.

U.S. tariff of 15% on EU goods is all-inclusive
U.S. tariff of 15% on EU goods is all-inclusive

Reuters

time5 minutes ago

  • Reuters

U.S. tariff of 15% on EU goods is all-inclusive

BRUSSELS, Aug 5 (Reuters) - The 15% tariff that European Union goods face when entering the United States is all-inclusive, incorporating the Most Favoured Nation Rate, unlike some other countries with deals with the U.S., an EU official said on Tuesday. The 15% rate applies to all goods, except for steel, aluminium, the official said. Tariffs on pharmaceuticals and semiconductors are now zero, but if and when they rise as a result of the U.S. 232 investigations, the tariff will be no higher than 15% as well. This 15% ceiling also applies to cars and car parts. There are no quotas or limits on cars and car parts.

A look at the top buyers of Russian oil as Trump pressures China and India to stop buying it
A look at the top buyers of Russian oil as Trump pressures China and India to stop buying it

The Independent

time6 minutes ago

  • The Independent

A look at the top buyers of Russian oil as Trump pressures China and India to stop buying it

U.S. President Donald Trump is pushing China and India to stop buying oil from Russia and helping fund the Kremlin's war against Ukraine. Trump is raising the issue as he seeks to press Russian President Vladimir Putin to agree to a ceasefire. But cheap Russian oil benefits refiners in those countries as well as meeting their needs for energy, and they're not showing any inclination to halt the practice. Three countries are big buyers of Russian oil China, India and Turkey are the biggest recipients of oil that used to go to the European Union. The EU's decision to boycott most Russian seaborne oil from January 2023 led to a massive shift in crude flows from Europe to Asia. Since then, China has been the No. 1 overall purchaser of Russian energy since the EU boycott, with some $219.5 billion worth of Russian oil, gas and coal, followed by India with $133.4 billion and Turkey with $90.3 billion. Before the invasion, India imported relatively little Russian oil. Hungary imports some Russian oil through a pipeline. Hungary is an EU member, but President Viktor Orban has been critical of sanctions against Russia. The lure of cheaper oil One big reason: It's cheap. Since Russian oil trades at a lower price than international benchmark Brent, refineries can fatten their profit margins when they turn crude into usable products such as diesel fuel. Russia's oil earnings are substantial despite sanctions The Kyiv School of Economics says Russia took in $12.6 billion from oil sales in June. Russia continues to earn substantial sums even as the Group of Seven leading industrialized nations has tried to limit Russia's take by imposing an oil price cap. The cap is to be enforced by requiring shipping and insurance companies to refuse to handle oil shipments above the cap. Russia has, to a great extent, been able to evade the cap by shipping oil on a 'shadow fleet' of old vessels using insurers and trading companies located in countries that are not enforcing sanctions. Russian oil exporters are predicted to take in $153 billion this year, according to the Kyiv institute. Fossil fuels are the single largest source of budget revenue. The imports support Russia's ruble currency and help Russia to buy goods from other countries, including weapons and parts for them.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store