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More oil middlemen muscle in to supply India with cheap Russian crude

Companies include Wellbred and Montfort have been marketing Russian oil to Indian buyers, joining the likes of Coral Energy and Everest Energy

oil prices
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State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders

Debjit Chakraborty | Bloomberg
India is set to get more channels to buy cheap Russian oil, with a new wave of smaller, international traders muscling into its vast market by offering barrels shunned by rivals after the invasion of Ukraine.
 
State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.

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First Published: Jul 29 2022 | 7:09 AM IST

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