Seven Russian tankers, carrying approximately 10 million barrels of crude oil, redirected their course from China to India, according to monitoring by Vortexa, a company tracking ship traffic.
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Ships loaded in late January were originally headed towards Chinese ports. Delhi's decision to take advantage of a 30-day exemption from US restrictions has changed transport plans.
“The Aqua Titan tanker is scheduled to reach the port of Mangalore on March 21,” reports Bloomberg.
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The port, located on the Malabar coast on the Arabian Sea, is a key transshipment point for Indian refineries. The remaining units are also heading to ports on the country's west coast.
Moscow earned $890 million more. more
Redirecting supplies to India brought tangible financial benefits to Moscow. Revenues from crude oil exports reached approximately USD 2.07 billion. in the week between March 9-15, “which means an increase of USD 890 million. – according to Bloomberg data.
“The rising prices of raw materials generate an additional approximately USD 150 million per day for the Russian budget,” estimates the Financial Times.
“Urals oil prices for Indian customers have increased from approximately USD 40. per barrel in February to $98.9. in the second half of March” – reports Argus Media.
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Indian Oil, BPCL, HPCL and MRPL refineries have placed orders for at least 20 million barrels of Russian Urals and ESPO crude oil. The value of the contracts significantly exceeds the volume of oil transported by the seven redirected tankers.
