In February after the Ukraine war, the US banned imports of Russian-origin energy products, including crude oil, refined fuels, distillates, coal and gas. Despite the ban on the export of fuel made from Russian crude oil, the US has objected to India buying the fuel. Reserve Bank of India Deputy Governor Michael Patra said that the US Treasury Department said that Indian ships carrying oil from Russian tankers are landing at Gujarat ports. This transfer is being done through the high seas. However, the US Embassy in India has not commented on this.
Reserve Bank of India Deputy Governor Michael Patra said the US Treasury Department told India that an Indian ship had picked up oil from a Russian tanker at sea and brought it to a port in Gujarat on the west coast, where it was refined. was. Finished product returned to ship. It had left without any destination. Russian crude oil was processed. It was converted into a distillate used to make single-use plastics. He did not identify the Indian ship or the refiner.
Ukraine has been buying Russian oil at a discount since the war. India, the world’s third largest oil importer and consumer, has rarely bought Russian oil in the past. But since the start of the war, Indian refiners have been offering discounts on Russian oil dumped by many Western countries and companies. Delhi has not joined sanctions against Russia or condemned Moscow’s attack on Ukraine, which Russia describes as a special military operation against its neighbour.
The manufacturing division of Jamnagar Reliance Refinery Crude Oil is the world’s largest refining hub. Rapid growth of campuses is at the heart of India’s transformation. It has transformed India from a net importer to a net exporter of petroleum products, thereby ensuring the energy security of the country.
Jamnagar Refinery has a crude processing capacity of 1.24 million barrels per stream day (bpsd). Fuel from Jamnagar refinery is exported to many countries of the world. Can produce any grade of gasoline and diesel. Reliance has another refinery. It is the sixth largest in the world. The refinery has a capacity to process 580,000 bpd of crude.
Of a wide range of Reliance Polymers (PP, PE, PVC), Elastomers (PBR, SBR, Butyl), Polyesters (PSF, PFY, IDY), Aromatics (PX, OX, Bt, LAB), Fiber-Intermediates (PTA) produces. MEG, EO) and Advanced Materials (Composite).