Days after cautioning Putin on war, India may skip Russian ESPO crude oil import

Indian refiners may skip buying Russia’s ESPO blend of crude oil in September, apparently due to high freight charges.

India imports a mix of crude grades from Russia, namely the Urals, Siberian Light, CPC blend, and ESPO crude. However, the share of ESPO crude is smaller in the mix.

Read more

Importing ESPO crude oil is costing $5-$7 a barrel more than similar grades from other countries such as UAE’s Murban grade, Reuters reported yesterday (Sep. 22) quoting industry sources.

The Indian…

Read More