New Delhi: After banning oil purchases from Russia, America has turned to India to maintain the supply of oil in the country. According to the information, both global oil traders Vitol and Trafigura have bought one cargo each of Vacuum Gas Oil (VGO) from the Indian refinery Naira Energy at the rate of 10 to 15 dollars per barrel. According to sources, in December this cargo will leave for America or Europe from Vadinar Port in India. Let us tell you that VGO is a type of crude oil, from which gasoline and diesel are prepared.
It is noteworthy that, earlier Aframax tanker Shanghai Dawn had also bought about 80 thousand tonnes of VGO from Jamnagar Port of Reliance Industries. The consignment reached the US in late October or early November. Compared to last year, this year, India has supplied a much larger quantity of vacuum gas oil to America. In May 2021, the US bought only one cargo VGO from India. At the same time, this year America has so far bought many consignments of cargo VGO.
Let us tell you that Ukraine used to export most of the VGO to America before the war. Russia is facing many sanctions because of the war with Ukraine. The US and Canada have completely stopped buying oil from Russia. At the same time, the European Union is also going to ban oil purchases from Russia from December 5. Let us tell you that India is the third largest oil buyer in the world. Even after imposing economic sanctions on Russia by Western countries including America, India is buying crude oil from Russia in huge quantities at cheap prices. India is refining this crude oil and exporting it to western countries at high prices.
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