Indian refiners’ fuel exports to West surge 43% amid Russian crude imports

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Refineries in India and two other countries that run on Russian crude shipped 1 billion euros ($1.2 billion) of oil products to sanctioning countries in September, up 43% from August, according to the Centre for Research on Energy and Clean Air (CREA).

Reliance Industries Ltd.'s Jamnagar refinery in Gujarat supplied six of the seven cargoes unloaded at EU ports that month, despite the bloc's ban on fuel made from Russian crude.

The CREA report covers refineries in India, Turkiye and Brunei. The EU took 667 million euros' worth of their products, Australia 168 million euros, the U.S. 154 million euros and New Zealand 19 million euros. CREA estimated 295 million euros' worth was refined from Russian crude.

Jamnagar also supplied the group's largest U.S.-bound exports, worth 122 million euros, and Russian crude made up 32% of its imports from July to September.

Italy received three of the seven EU-bound shipments, Romania two, and Spain and Cyprus one each. Exports reported as destined for EU ports from refineries running on Russian crude rose 80% in value, including a single 104,000-tonne cargo of gasoil (diesel) from Jamnagar still en route to Rotterdam.