Nayara Energy port at Vadinar, Gujarat, India Nayara Energy / Wikipedia
Refining & Processing

Rosneft-backed Indian refiner supplies gasoline to fuel-short Russia

Reuters

Traders have sold gasoline produced by Indian refiner Nayara Energy to Russia, which is grappling with fuel shortages triggered by Ukrainian attacks on its energy infrastructure, two sources with direct knowledge of the matter said on Thursday.

Reuters reported on Wednesday that Russia had begun seaborne imports of gasoline from India, without naming the supplier.

Nayara did not respond to an email from Reuters seeking comment. Russian oil major Rosneft has a 49 per cent stake in Nayara.

At a Thursday media briefing, Indian Oil Minister Hardeep Singh Puri said that Indian companies were not selling fuel to Russia but it was "possible" that Russia purchased Indian-origin fuel from traders.

Russia-backed private refiner Nayara has been relying on traders to import crude and export refined fuels since European Union sanctions imposed last July complicated payments with customers and suppliers.

Nayara's 400,000 barrels-per-day Vadinar refinery in western India has been processing only Russian oil since other suppliers backed out following the sanctions.

Reuters reported on Wednesday that at least 60,000 tonnes of gasoline had been dispatched from India to Russia, citing an industry source, with another source saying that two tankers, carrying 30,000 to 40,000 tonnes each, had been sent.

A tanker invoice seen by Reuters on Thursday showed that the vessel Agni loaded with gasoline from Vadinar sailed for Fujairah on June 20, although LSEG tanker data showed that the Cameroon-flagged vessel had passed beyond Fujairah and was in Suez headed north.

(Reporting by Nidhi Verma Editing by Alexandra Hudson)