In December, India experienced an 11-month low in Russian oil imports due to challenges related to the Sokol grade crude. While the volumes of Urals crude, a mainstay in India’s oil imports from Russia, remained robust, the import of Sokol crude faced issues linked to Western sanctions and payment difficulties. Six oil tankers carrying Sokol crude for Indian Oil Corporation (IOC) were unable to discharge the oil at their destination ports due to these challenges. Indian refiners collectively imported 1.48 million barrels per day of Russian oil in December, marking an 11.6% decline from November. The imports accounted for 32.9% of India’s total oil imports in December, with Urals crude remaining consistent at around 1.1-1.15 million barrels per day. Despite the challenges, some tankers are still expected to deliver Sokol crude to Indian ports, indicating a potential resolution in the coming days.
Read also
