NEW DELHI, April 24 (Reuters) – Russia has emerged as a top oil supplier to India on annual basis for the first time in 2022/23, relegating Iraq to the no. 2 slot followed by Saudi Arabia, data obtained from industry sources show.
India, the world’s third biggest oil importer and consumer, traditionally relies on Middle East for meeting a bulk of its oil needs.
However supplies of discounted Russian oil, shunned by some western countries over Moscow’s military action in Ukraine, has dragged down the share of Middle East and OPEC member countries in Indian oil imports to the lowest in at least 22 years.
Last month, India shipped in about 5 million barrels per day oil, marginally more than the previous month, the data showed. Russian oil imports at about 1.8 million bpd accounted for about 36% of India’s overall imports in March, the data showed.
The sources declined to be identified as they were not authorised to speak with the media.
Following are details of India’s crude and condensate imports. Volumes are in 1,000 bpd.
| Region/Country | March 2023 | Feb 2023 | %Chg m/m | Mar 2022 | %Chg yr/yr | Jan-Dec 2023 | Jan-Dec 2022 | %Chg yr/yr | Apr-Mar 2022/23 | Apr-Mar 2021/22 | %Chg yr/yr |
| Latin America | |||||||||||
| Brazil | 0.0 | 23.8 | -100.0 | 65.1 | -100.0 | 42.0 | 57.8 | -27.4 | 57.1 | 81.9 | -30.3 |
| Colombia | 104.7 | 0.0 | — | 35.6 | 193.7 | 60.1 | 86.0 | -30.1 | 50.5 | 76.7 | -34.2 |
| Ecuador | 0.0 | 68.4 | -100.0 | 33.5 | -100.0 | 21.3 | 11.5 | 84.5 | 26.8 | 35.1 | -23.6 |
| Mexico | 34.3 | 0.0 | — | 0.0 | — | 35.1 | 68.6 | -48.8 | 93.8 | 143.9 | -34.8 |
| Guyana | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 0.0 | — | 0.0 | 5.6 | -100.0 |
| TOTAL | 139.0 | 92.2 | 50.8 | 134.2 | 3.6 | 158.4 | 223.9 | -29.2 | 228.2 | 343.2 | -33.5 |
| Asia | |||||||||||
| Brunei | 18.6 | 0.0 | — | 0.0 | — | 6.4 | 6.4 | 0.1 | 6.7 | 11.4 | -41.5 |
| Malaysia | 0.0 | 5.1 | -100.0 | 59.3 | -100.0 | 7.9 | 42.4 | -81.4 | 22.6 | 25.7 | -11.9 |
| Indonesia | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 3.4 | -100.0 | 0.7 | 8.7 | -91.6 |
| TOTAL | 18.6 | 5.1 | 268.8 | 59.3 | -68.6 | 14.3 | 52.2 | -72.6 | 30.0 | 45.8 | -34.5 |
| Middle East | |||||||||||
| Neutral zone | 74.6 | 48.9 | 52.4 | 73.5 | 1.4 | 52.9 | 96.4 | -45.1 | 57.1 | 66.0 | -13.4 |
| Oman | 0.0 | 53.7 | -100.0 | 292.7 | -100.0 | 27.2 | 171.2 | -84.1 | 60.2 | 119.5 | -49.6 |
| Iraq | 958.2 | 1034.9 | -7.4 | 1177.3 | -18.6 | 990.7 | 1234.0 | -19.7 | 995.6 | 1086.8 | -8.4 |
| Qatar | 31.3 | 35.7 | -12.5 | 64.8 | -51.7 | 43.1 | 43.8 | -1.7 | 53.7 | 39.1 | 37.4 |
| Kuwait | 162.2 | 227.3 | -28.6 | 218.7 | -25.8 | 186.5 | 228.8 | -18.5 | 194.5 | 236.2 | -17.6 |
| S. Arabia | 813.4 | 808.7 | 0.6 | 839.6 | -3.1 | 808.5 | 877.7 | -7.9 | 758.4 | 735.9 | 3.1 |
| U.A.E. | 345.1 | 366.1 | -5.7 | 317.7 | 8.6 | 350.6 | 483.1 | -27.4 | 431.2 | 443.1 | -2.7 |
| Dubai | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 5.5 | -100.0 | 2.7 | 8.8 | -69.2 |
| Yemen | 0.0 | 0.0 | — | 17.8 | -100.0 | 0.0 | 12.2 | -100.0 | 0.0 | 3.0 | -100.0 |
| TOTAL | 2384.8 | 2575.4 | -7.4 | 3002.0 | -20.6 | 2459.4 | 3152.7 | -22.0 | 2553.4 | 2738.5 | -6.8 |
| Europe | |||||||||||
| Italy | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 0.0 | — | 0.0 | 0.6 | -100.0 |
| North sea | 0.0 | 0.0 | — | 34.8 | -100.0 | 0.0 | 53.5 | -100.0 | 0.0 | 56.2 | -100.0 |
| TOTAL | 0.0 | 0.0 | — | 34.8 | -100.0 | 0.0 | 53.5 | -100.0 | 0.0 | 56.8 | -100.0 |
| C.I.S. | |||||||||||
| Azerbaijan | 110.5 | 36.2 | 205.3 | 0.0 | — | 57.5 | 11.1 | 416.9 | 55.5 | 13.7 | 304.1 |
| Kazakhstan | 124.9 | 136.9 | -8.7 | 62.6 | 99.6 | 140.3 | 42.7 | 228.6 | 123.3 | 47.7 | 158.3 |
| Russia | 1794.1 | 1719.0 | 4.4 | 65.8 | 2625.7 | 1624.2 | 22.7 | 7064.0 | 1046.7 | 33.5 | 3028.9 |
| TOTAL | 2029.5 | 1892.1 | 7.3 | 128.4 | 1480.4 | 1821.9 | 76.5 | 2282.5 | 1225.5 | 94.9 | 1191.2 |
| Africa | |||||||||||
| Nigeria | 91.8 | 66.2 | 38.7 | 370.6 | -75.2 | 115.8 | 259.6 | -55.4 | 142.3 | 283.9 | -49.9 |
| Angola | 92.3 | 69.7 | 32.5 | 31.3 | 194.6 | 96.4 | 108.3 | -10.9 | 97.7 | 84.0 | 16.4 |
| Ivory coast | 0.0 | 0.0 | — | 34.5 | -100.0 | 0.0 | 11.9 | -100.0 | 0.0 | 2.9 | -100.0 |
| Cameroon | 33.1 | 0.0 | — | 30.2 | 9.6 | 11.4 | 21.8 | -47.6 | 14.0 | 13.7 | 2.4 |
| Congo | 91.4 | 0.0 | — | 123.2 | -25.8 | 31.5 | 53.0 | -40.6 | 36.7 | 36.6 | 0.5 |
| Egypt | 15.7 | 17.5 | -10.5 | 47.4 | -66.9 | 16.3 | 55.6 | -70.7 | 21.8 | 65.3 | -66.6 |
| Gabon | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 21.5 | -100.0 | 2.6 | 33.7 | -92.2 |
| Ghana | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 0.0 | — | 0.0 | 7.8 | -100.0 |
| Eq Guinea | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 18.2 | -100.0 | 8.6 | 22.2 | -61.1 |
| Algeria | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 21.5 | -100.0 | 10.6 | 15.9 | -33.8 |
| Tunisia | 0.0 | 23.4 | -100.0 | 0.0 | — | 7.3 | 0.0 | — | 1.8 | 0.0 | — |
| Libya | 0.0 | 0.0 | — | 0.0 | — | 0.0 | 0.0 | — | 18.1 | 7.1 | 152.6 |
| TOTAL | 324.3 | 176.8 | 83.4 | 637.2 | -49.1 | 278.7 | 571.4 | -51.2 | 354.2 | 573.1 | -38.2 |
| CANADA | 67.7 | 135.3 | -50.0 | 103.3 | -34.5 | 173.7 | 181.2 | -4.1 | 118.4 | 134.3 | -11.8 |
| USA | 0.0 | 68.1 | -100.0 | 277.8 | -100.0 | 86.4 | 305.2 | -71.7 | 138.4 | 270.4 | -48.8 |
| Miscellaneous | 0.0 | 0.0 | — | 35.5 | -100.0 | 0.0 | 12.2 | -100.0 | 3.0 | 5.8 | -48.5 |
| TOTAL ALL | 4964.0 | 4945.0 | 0.4 | 4412.6 | 12.5 | 4992.8 | 4628.7 | 7.9 | 4651.3 | 4262.8 | 9.1 |
NOTE: The total may not tally as numbers in tonnes have been rounded after converting them into barrels per day using a conversion factor of 7.3 barrels per tonne divided by the number of days.
Numbers for previous months have been revised.
Data also includes some cargoes that arrived in February but discharged in March, and some cargoes that arrived in March and discharged in April.
