India's Nayara Gasoline Exported to Russia Via Traders Amid Sanctions
Overview of Nayara Energy's Gasoline Exports to Russia
By Nidhi Verma
Background: Russia's Fuel Shortages and Indian Gasoline Exports
NEW DELHI, July 2 (Reuters) - Traders have sold gasoline produced by Indian refiner Nayara Energy to Russia, which is grappling with fuel shortages triggered by Ukrainian attacks on its energy infrastructure, two sources with direct knowledge of the matter said on Thursday.
Reuters reported on Wednesday that Russia had begun seaborne imports of gasoline from India, without naming the supplier.
Stakeholders and Responses
Nayara did not respond to an email from Reuters seeking comment. Russian oil major Rosneft has a 49% stake in Nayara.
Indian Government's Position
At a Thursday media briefing, Indian Oil Minister Hardeep Singh Puri said that Indian companies were not selling fuel to Russia but it was "possible" that Russia purchased Indian-origin fuel from traders.
Impact of Sanctions on Nayara's Operations
Russia-backed private refiner Nayara has been relying on traders to import crude and export refined fuels since European Union sanctions imposed last July complicated payments with customers and suppliers.
Nayara's 400,000 barrels-per-day Vadinar refinery in western India has been processing only Russian oil since other suppliers backed out following the sanctions.
Details of Gasoline Shipments
Reuters reported on Wednesday that at least 60,000 metric tons of gasoline had been dispatched from India to Russia, citing an industry source, with another source saying that two tankers, carrying 30,000 to 40,000 tons each, had been sent.
Shipping and Logistics
A tanker invoice seen by Reuters on Thursday showed that the vessel Agni loaded with gasoline from Vadinar sailed for Fujairah on June 20, although LSEG tanker data showed that the Cameroon-flagged vessel had passed beyond Fujairah and was in Suez headed north.
(Reporting by Nidhi VermaEditing by Alexandra Hudson)
