China, India Lead in Purchasing Russian Seaborne Fuel Oil & VGO
OIL & GAS

China, India Lead in Purchasing Russian Seaborne Fuel Oil & VGO

According to data from the London Stock Exchange Group (LSEG), China and India have emerged as the primary purchasers of Russian seaborne fuel oil and vacuum gas oil (VGO) in February. This trend reflects the growing demand for energy resources in both countries and underscores their reliance on Russian oil products.

The data reveals that China and India accounted for a significant share of Russian seaborne fuel oil and VGO imports during the month of February. The strong demand from these key Asian markets highlights the strategic importance of Russian oil supplies in meeting their energy requirements.

China's robust economic growth and India's expanding industrial base have driven the surge in demand for fuel oil and VGO, which are essential components in various sectors, including manufacturing, transportation, and power generation. The data from LSEG underscores the pivotal role of Russian oil exports in fueling the economic development of these countries.

The preference for Russian seaborne fuel oil and VGO by China and India underscores the competitiveness and reliability of Russian oil products in the global market. Despite geopolitical tensions and fluctuations in oil prices, both countries continue to prioritize securing reliable energy supplies to sustain their economic growth trajectories.

As China and India maintain their position as leading buyers of Russian seaborne fuel oil and VGO, the data from LSEG highlights the enduring partnership between these countries and Russia in the energy sector. The continued collaboration is expected to shape global oil trade dynamics and influence market trends in the foreseeable future.

According to data from the London Stock Exchange Group (LSEG), China and India have emerged as the primary purchasers of Russian seaborne fuel oil and vacuum gas oil (VGO) in February. This trend reflects the growing demand for energy resources in both countries and underscores their reliance on Russian oil products. The data reveals that China and India accounted for a significant share of Russian seaborne fuel oil and VGO imports during the month of February. The strong demand from these key Asian markets highlights the strategic importance of Russian oil supplies in meeting their energy requirements. China's robust economic growth and India's expanding industrial base have driven the surge in demand for fuel oil and VGO, which are essential components in various sectors, including manufacturing, transportation, and power generation. The data from LSEG underscores the pivotal role of Russian oil exports in fueling the economic development of these countries. The preference for Russian seaborne fuel oil and VGO by China and India underscores the competitiveness and reliability of Russian oil products in the global market. Despite geopolitical tensions and fluctuations in oil prices, both countries continue to prioritize securing reliable energy supplies to sustain their economic growth trajectories. As China and India maintain their position as leading buyers of Russian seaborne fuel oil and VGO, the data from LSEG highlights the enduring partnership between these countries and Russia in the energy sector. The continued collaboration is expected to shape global oil trade dynamics and influence market trends in the foreseeable future.

Next Story
Infrastructure Energy

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Next Story
Infrastructure Urban

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Next Story
Infrastructure Energy

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?