Nueva Delhi: The interruption in Russian oil exports caused by the latest US sanctions will not have an impact on the energy security of India in terms of supply, since a matrix of diversified acquisitions and technical flexibility allow Indian refineries to take advantage of multiple alternatives, ARVERDER SINGH SAHNEYPresident of the Refinator Retail and the greatest fuel in Indian, Indianoil, he told Toi on Monday.
“We are still understanding how things will work. But we are very sure that (sanctions) will have no impact on the availability of oil for Indian refineries. I can speak for all of them, even private (sector), ”said Sahney in what is the first public comment on the issue of a chief of the Indian oil company.
In addition to Russia, India, he said, buys raw of multiple sources: Gulf, Africa, America, Opep and not OPEC producers. New sources such as Brazil and Guyana are also emerging. “We have a wide range of contracts and alliances with all of them. So, we are not worried about the supply. “
Sahney’s confidence could also be due to the fact that the last curbs impact approximately 15% of Russian oil exports, mostly raw sweet sweets produced in the north and distant and 183 of the 600 ships in the fleet of Russian oil tankers. In addition, there is no sanction with Rosneft, the largest Russian oil producer.
Made the impact on Global oil pricessaying that I understood that they will be at $ 75-80 per barrel this year.
The company registered a net gain of RS 2,873.5 million rupees in the quarter of December, marking a 64% drop of 8,063.6 million rupees in the previous corresponding quarter as inventory and losses of eroded currencies in the benefit of higher sales and strong physical performance.
In the Trump administration plan to pump the production of oil and gas, Sahney said the supply will increase and expand the market options for Indian refineries. If that will lead to a pivot towards the USA. UU. It will depend on the competitiveness of the prices of the United States. “As our government has indicated, India is willing to buy energy from the one who offers the most competitive price.”
Indianoil is not “particularly” in search of Russian crude from the spot market, “Sahney said. This could reduce the participation of Russian crude prosecuted in its refineries from 30 to 35% before January 10, when sanctions were imposed. “We are being very cautious,” he said that the latest sanctions have attacked the Russian oil export chain, service providers of oil fields, oil and insurance, in addition to the producers. Buyers can face rape sanctions at any of these stages.
