₦airaland Forum

FACTBOX-Who is buying Russian crude oil and who has stopped

Here is the response by countries and companies regarding purchases of Russian oil since the war in Ukraine started on Feb. 24 and how companies have acted.

Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases, while Group of Seven (G7) nations, including Japan, committed to ban or phase out imports of Russian oil on May 8. The European Union, however, has not been able to agree on the ban so far, mainly due to opposition from landlocked member states heavily dependent on Russian supplies, such as Hungary.

In April, the block accounted for 43% of Russia's oil exports, down from around 50% at the start of the year, according to the International Energy Agency (IEA). Despite the lack of an EU-wide ban, at least 26 major European refiners and trading companies have voluntarily suspended spot purchases or intend to phase out a combined 2.1 million barrels per day (bpd) of Russian imports, according to JP Morgan.

The major trading houses are expected to wind down deals ahead of a May 15 deadline to halt all transactions with state-controlled Rosneft, Gazprom Neft and Transneft, the IEA said. Meanwhile, China and India, which have refused to condemn Russia's actions, continued to buy Russian crude, benefiting from discounts.

Indian refiners loaded about 770,000 bpd of Russian crude in April, compared to less than 50,000 bpd on average in 2021, the IEA estimates show. Below are current and former buyers of Russian crude (in alphabetical order):

CURRENT BUYERS BHARAT PETROLEUM

Indian state-run refiner Bharat Petroleum Corp Ltd has bought 2 million barrels of Russian Urals for May loading from trader Trafigura, two people familiar with the purchase said. The company regularly buys Russian Urals for its 310,000 barrels per day (bpd) Kochi refinery in southern India.

HINDUSTAN PETROLEUM, India's state refiner bought 2 million barrels of Russian Urals for May loading, according to trading sources.

INDIAN OIL CORP India's top refiner has bought more than 6 million barrels of Urals since Feb. 24 and has a supply contract with Rosneft for up to 15 million barrels of Russian crude in 2022.

ISAB Italy's largest refinery, owned by Lukoil-controlled Swiss-based Litasco SA, continues to buy Russian crude, while the Italian government has been looking into the possibility of temporarily nationalising ISAB.

LEUNA The land-locked Leuna refinery in eastern Germany, majority-owned by France's TotalEnergies, continues to buy Russia crude fed by the Druzhba pipeline. TotalEnergies has been evaluating alternative routes for Leuna.

MANGALORE REFINERY AND PETROCHEMICALS The state-run Indian refiner has bought 1 million barrels of Russian Urals crude for May loading via a tender from a European trader, a rare purchase driven by the discount offered.

MIRO Germany's largest refinery, 24% owned by Russia's Rosneft , continues to buy Russian crude, which accounts for about 14% of the total intake..

MOL The Hungarian oil company has said it would take at least 2-4 years to fully switch its two refineries in Slovakia and Hungary to alternative crude processing, which currently accounts for about 35% of total intake.

NAYARA ENERGY The Indian private refiner, part-owned by Rosneft, has purchased Russian oil after a gap of a year, buying about 1.8 million barrels of Urals from Trafigura.

NEFTOCHIM BURGAS A Bulgarian refinery, owned by Russia's Lukoil, continues to refine Russian crude, which accounts for about 50% of its intake, according to government officials.

PCK SCHWEDT Germany's PCK Schwedt refinery, 54% owned by Rosneft, continues to buy Russian crude fed via the Druzhba pipeline.

German government officials have said they were looking to replace Russian crude with alternative imports via the German port of Rostock or via ports of neighbouring Poland to keep the refinery running. PERTAMINA

Indonesian state energy firm PT Pertamina is considering buying crude oil from Russia as it seeks oil for a newly revamped refinery. SINOPEC

China's state-run Sinopec, Asia's largest refiner, is continuing to purchase Russian crude under previously signed long-term contracts. FORMER BUYERS

BP The British oil major has exited Russia and said it would no longer make new deals with Russian entities for loading at Russian ports unless "essential for ensuring security of supplies".

ENEOS Japan's biggest refiner has stopped buying crude oil from Russia, and plans to source alternative supplies from the Middle East.

ENI The energy group, 30.3% owned by the Italian government, has suspended purchases of Russian oil, including for Germany's Bayernoil refinery, where it has a minority stake.

EQUINOR Norway's majority state-owned energy firm has stopped trading Russian oil and decided to exit Russia.

GALP The Portuguese oil and gas company has suspended all new purchases of petroleum products from Russia or from Russian companies.

GLENCORE The global mining and trading firm said it would not enter any new trading business relating to Russian-origin commodities unless directed by the relevant government authorities.

HELLENIC PETROLEUM Greece's biggest oil refiner has stopped buying Russian crude, replacing it with additional supplies from Saudi Arabia and other countries.

NESTE From the start of April, the Finnish refiner has replaced about 85% of the Russian crude oil with other crudes, and said it will not enter in new deals to buy Russian oil.

OMV PETROM Romania's top oil and gas firm, controlled by Austria's OMV has said it was preparing to wean itself off Russian crude imports, which account for about 30% of its Petrobrazi refinery's annual needs.

PKN Orlen Poland's largest refiner has stopped buying Russian crude on the spot market, switching to North Sea oil, with previously signed long-term supply contracts expiring by the end of this year.

PREEM Sweden's largest refiner, owned by Saudi billionaire Mohammed Hussein al-Amoudi, has replaced Russian barrels, which made up 7% of its supplies, with North Sea barrels.

REPSOL The Spanish company has stopped buying Russian crude oil in the spot market.

SHELL The world's largest petroleum trader has stopped buying Russian crude and refined products, including blended fuels.

TRAFIGURA The Geneva-based global commodities trader plans to stop all purchases of crude oil from Rosneft by May 15 when tighter EU rules on Russian oil sales come into effect, and "substantially" reduce volume of refined products it buys from Rosneft.

TOTALENERGIES The French energy firm, which also operates Leuna refinery in eastern Germany, has stopped making new deals to buy Russian oil and plans to phase out all purchases by end-2022.

VARO ENERGY The Swiss refiner, which owns 51.4% in Germany's Bayernoil refinery, has said it would no longer enter into new deals to buy Russian crude.

https://www.google.com/amp/s/www.devdiscourse.com/article/headlines/2035362-factbox-who-is-buying-russian-crude-oil-and-who-has-stopped%3famp

Mynd44 Lalasticlala Seun

Vladimir Putin....... How market ?

How market na ?

Tell Us.......

India 50,000 barrel rose to 770,000 barrel means those who are no longer buying are getting it through third party

I love Putin's troops on Nairaland...

Dem Sabi encourage themselves in the face of bad News.

See the Bros above this my comment...

He dey give himself hope and make us know say problem nor dey.

So EU countries would leave OPEC members and go buy black market crude from India ?

Ok we agree....

KillerCrocodile:
I love Putin's troops on Nairaland...

Dem Sabi encourage themselves in the face of bad News.

See the Bros above this my comment...

He dey give himself hope and make us know say problem nor dey.

So EU countries would leave OPEC members and go buy black market crude from India ?

Ok we agree....

They don't have sense at all

Biodun556:
India 50,000 barrel rose to 770,000 barrel means those who are no longer buying are getting it through third party

You actually assume that India with her population as second most populous country in the world would want to resell to other countries rather than stock up the oil especially since Russia is begging them to come buy at madly discounted prices?

Una too like to create fake scenarios to encourage yourselves with Sha

I didn’t even bother reading the junk, the heading was enough!!!

So who are the 21 countries that has opened a rubble account with Gasprom to buy Russian oil? How come the Russian currency is growing at fast pace against the dollar? How much has Russia made from the sake sod oil since the beginning of this invasion??

When and if you answer all this, I hope you are reasonable by then!! SMH

DerrickzB:
I didn’t even bother reading the junk, the heading was enough!!!

So who are the 21 countries that has opened a rubble account with Gasprom to buy Russian oil? How come the Russian currency is growing at fast pace against the dollar? How much has Russia made from the sake sod oil since the beginning of this invasion??

When and if you answer all this, I hope you are reasonable by then!! SMH

Not countries but companies

Know the difference. You Russian bots never understand anything you read simply because you keep lying to yourselves just to feel good

Even TASS said COMPANIES while your lying propaganda brain is saying COUNTRIES

You Russian bots enjoy making fools of yourselves and it's simply a huge comic relief for the sane ones reading

Do you now see that your brain is the actual Junk?

You wish the COUNTRIES actually did that while it's Companies within those EU countries that did that.

Una no get sense all you Putin bots

Igbofam:
Not countries but companies

Know the difference. You Russian bots never understand anything you read simply because you keep lying to yourselves just to feel good

Even TASS said COMPANIES while your lying propaganda brain is saying COUNTRIES

You Russian bots enjoy making fools of yourselves and it's simply a huge comic relief for the sane ones reading

Do you now see that your brain is the actual Junk?

You wish the COUNTRIES actually did that while it's Companies within those EU countries that did that.

Una no get sense all you Putin bots

What's this one saying.... U just shouting gra gra without making any sense.

Company country what ur point what's d different? Do u think its the govt of EU countries that buys oil b4 its the companies that buys them. Buy and sale of oil is strictly private in EU but regulate by the govt..... So if a company in EU is buying its the country that's buying it

Alamkir:
What's this one saying.... U just shouting gra gra without making any sense.

Company country what ur point what's d different? Do u think its the govt of EU countries that buys oil b4 its the companies that buys them. Buy and sale of oil is strictly private in EU but regulate by the govt..... So if a company in EU is buying its the country that's buying it

Lmao na wa o all these dumb Russian bots sef

So country is suddenly now the same as company because your lies have been busted by your very own TASS

Oga there are thousands of companies in Europe allegedly dependant on Russian gas (according to you Russian bots) and here you are celebrating just 21 out of thousands of companies?

I would highly recommend that you Russian bots check yourselves into a hospital and run a brain scan. At least find out why you lot seriously underperform mentally and keep embarrassing yourselves without shame.

A company is not a country no matter how you try to twist it.

Even TASS was not as dumb as you lot to call it Country. They clearly said COMPANY.

Igbofam:
Lmao na wa o all these dumb Russian bots sef

So country is suddenly now the same as company because your lies have been busted by your very own TASS

Oga there are thousands of companies in Europe allegedly dependant on Russian gas (according to you Russian bots) and here you are celebrating just 21 out of thousands of companies?

I would highly recommend that you Russian bots check yourselves into a hospital and run a brain scan. At least find out why you lot seriously underperform mentally and keep embarrassing yourselves without shame.

A company is not a country no matter how you try to twist it.

Even TASS was not as dumb as you lot to call it Country. They clearly said COMPANY.

2 questions. 1. are these EU companies in space or country
2 who are these companies selling to or are they drinking the oil themselves

Company is not the same as country...

There can be 10 companies buying Russian gas in rubbles but their delivery (Sales) could only be to 3 countries....

Alamkir:
2 questions. 1. are these EU companies in space or country
2 who are these companies selling to or are they drinking the oil themselves

One question when did a company like Okwudili and sons LTD suddenly become Nigeria?

Is a company now to be considered a country?

If you can answer these questions then I know you have a working brain

Igbofam:
One question when did a company like Okwudili and sons LTD suddenly become Nigeria?

Is a company now to be considered a country?

If you can answer these questions then I know you have a working brain

Oga, what happened to Iraq and Germany gas deal?

Igbofam:
One question when did a company like Okwudili and sons LTD suddenly become Nigeria?

Is a company now to be considered a country?

If you can answer these questions then I know you have a working brain

If the company is importing lets Say steel from Ukraine. You say nigeria import it steel from Ukraine, you ar not gonna say ukwudili import it steel as if they are consuming it themself. D govt gave them license to import. So they are representing d country

Alamkir:
If the company is importing lets Say steel from Ukraine. You say nigeria import it steel from Ukraine, you ar not gonna say ukwudili import it steel as if they are consuming it themself. D govt gave them license to import. So they are representing d country

Lmao

That right there is the height of this Putin bots and their foolishness we keep talking about

Chai chai chai. Intelligence has flown away