India russia oil: China, India high consumers of Russian seaborne gas oil, VGO in Feb, LSEG information reveals

Because the European Union‘s full embargo on Russian oil merchandise went into impact in February 2023, the majority of Russia’s gas oil and VGO was redirected to different areas, principally Asia.

In February 2024, direct gas oil and VGO shipments from Russian ports to India elevated to 0.7 million metric tons after 0.46 million tons in January, in response to LSEG information and Reuters calculations.

February gas provides from the Russian ports to China totalled 0.7 million tons, to Singapore – 0.63 million tons, to Malaysia – about 120,000 tons.

India and China purchase straight-run gas oil and VGO for refining, partially changing costlier Urals barrels, merchants stated.

Nonetheless, an enormous a part of Russian gas oil and VGO went in February for ship-to-ship (STS) loadings close to the Greek port of Kalamata – practically 0.7 million tons. Merchants stated these cargoes principally find yourself in Asia. Export shipments of soiled oil merchandise from the Russian ports to Turkey fell in February to about 215,000 tons from 340,000 tons within the earlier month. Russia has additionally considerably elevated its gas exports to Senegal this yr on rising bunker demand, as extra corporations are diverting cargoes round Africa as an alternative of utilizing Crimson Sea routes, merchants stated and LSEG information confirmed.

In February, gas oil shipments from the Russian port to Senegal totalled 187,300 tons.

In complete, Russian gas oil and VGO seaborne exports elevated in February by 9% month-on-month to three.76 million tons, in response to LSEG information.