India refiner Nayara's gasoline sold to Russia via traders, sources say

NEW DELHI: 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% 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.

India’s Russian oil imports to hit record high in June, data shows

Reuters reported on Wednesday that at least 60,000 metric tons 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 tons 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.