Russia appears to prefer India as Chinese demand for oil increases again
During the month of February, Russia exported 1.85 million barrels of oil to India every day, as reported by Kpler.
Oil from Russia is transported to India and is accepted at the port of the destination.
Despite the increased demand for oil from China, Russia will still continue to supply as much as possible to India, according to Kpler, a company specializing in commodities data has told Bloomberg
As a result of the sanctions imposed by the United States and the European Union on Russia, India had hardly purchased any Russian oil in the previous year. In February, however, India imported nearly 1.85 million barrels a day from Russia, which was almost equal to its maximum capacity of 2 million barrels a day, according to Viktor Katona, the head crude analyst at Kpler.
China has the capacity to acquire all of Russia's oil exports as it lets go of its Covid-zero strategies, however Russia would prefer to stay in the Indian market due to its more profitable nature and because it gives their oil companies greater control, according to Katona.
During the past 30 days, Russia has sent 2.3 million barrels of crude oil to China daily, as stated by the International Energy Agency. It is expected that the demand for oil in the Asian country will increase by around 900,000 barrels a day after the pandemic-related travel restrictions have been lifted, according to the IEA's estimations.
Chinese oil refiners have the potential to acquire more Russian crude in the current year, but they also have the capability to oversee the transportation process themselves. This would mean that Moscow would not benefit from the "parallel gray fleet" of tankers that it has set up to send oil to India, as mentioned by Katona.
The largest Russian energy producer, Rosneft PJSC (ROSN), has a 49.13% stake in Nayara Energy Ltd., which owns the Vadinar refinery in Vadinar Gujarat, India, the second biggest refinery in the country. Additionally, the refinery also has related shipping facilities. According to Katona, the Vadinar plant has already gotten the majority of its crude feedstock from Russia during this month.
Girish Linganna
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T'gana RTC strike: Talks between govt, employees successful
Hyderabad (PTI): Talks between employees of Telangana State Road Transport Corporation (RTC) who were on strike and the state government concluded successfully on Friday as the government agreed to the key demands of the workmen.
Following a day-long marathon of talks between the leaders of the employees' Joint Action Committee (JAC) and the cabinet sub-committee, the government announced after midnight that it acceded to the demands, including a merger of RTC with the government, 11 per cent pay revision and elections to the employees' unions.
A committee comprising officials and employee leaders would be appointed over the merger of RTC with the government, it said.
The RTC management has also agreed to address the remaining issues as well, an official release said.
The employees would call off their strike and the RTC buses would hit the roads shortly, it said.
The employees had been on an indefinite strike since April 22 over a series of demands, including the merger of RTC with the government.
Earlier in the day, a driver of the RTC, who attempted suicide on April 23 during the strike, died at a hospital here in the early hours of Friday.
Shankar Goud, a 55-year-old driver, set himself ablaze by pouring petrol at Narsampet in Warangal district when the employees were staging a protest on Thursday in support of their demands.
Goud suffered serious burns, was initially admitted to a state-run hospital in Warangal, and later shifted to a super-speciality hospital in Hyderabad for advanced treatment.
"He succumbed (to injuries) at about 1.30 am on Friday," a senior official said.
The driver’s body was taken to his relative’s village, Muttojipet in Warangal district, for funeral rites.
Tension prevailed in Muttojipet as his family members and RTC employees attempted to take the body to the Narsampet bus station, where he worked, to enable his colleagues to pay their last respects. However, police did not permit this, citing law-and-order concerns.
This led to a deadlock before the funeral could proceed.
Union Minister Bandi Sanjay Kumar criticised the Telangana government for not allowing the body to be taken to the Narsampet bus station.
Kumar, Minister of State (Home), visited Muttojipet village in Warangal district, where the funeral was held, and paid homage to Goud.
“They (family members) want to take the body to the bus depot for five minutes. Is the RTC bus depot in Pakistan or Bangladesh? They are emotionally attached to taking the body there. The government is hurting sentiments and creating fear among RTC employees,” Kumar told reporters.
He also expressed anger at the police for not allowing the body to be taken to the bus station and staged a protest, according to a release from his office.
RTC employees and BJP workers attempted to take the mortal remains in an ambulance to Narsampet, but were stopped by the police.
Later, after discussions with the police, the family members and RTC employees agreed to conduct the funeral in the village.
Sanjay Kumar, stating he would abide by the family’s decision, left the village after the funeral was conducted there.
Transport Minister Ponnam Prabhakar said an ex gratia of Rs 10 lakh, a house, and a government job would be provided to the kin of Goud.
Chief Minister A Revanth Reddy expressed shock over the employee’s death and conveyed deep condolences to the grieving family, according to the release.
The RTC employees’ JAC had earlier announced an agitation programme from April 24 to 29, including silent marches and submission of memorandums to MLAs and other leaders.
