Russia Imports Indian Fuel as Refinery Crisis Deepens
Russia has started importing fuels from India, Bloomberg reported today, citing Kpler data that shows one cargo of 42,000 tons of gasoline from Nayara Energy’s Vadinar refinery arriving in Russia earlier this month. The Vadinar refinery is partly owned by Rosneft, which supplies the crude oil that i
Source: OilPrice.com
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DW NOTE
Russia — which exports 5 million barrels of oil per day — is now importing refined fuel from India because its own refineries cannot keep pace with domestic demand. That is the textbook definition of a structurally broken energy sector: flush with crude, short on capacity, incapable of processing what it extracts.