Russia refused to give cheap oil to two oil companies of India, saying – there is no extra crude oil
During the ongoing war with Ukraine, Russia has dealt a big blow to Indian companies trying to buy cheap oil. It is reported that Rosneft, the largest producer of crude oil in Russia, has categorically refused to sign a deal agreement with two oil distributor companies of India to buy crude oil. In other media reports, quoting news agency Reuters, it is being told that Rosneft, Russia’s largest oil producer, has already made a deal with some other countries to supply oil with Indian companies. After this deal, Rosneft has clearly said that it does not have extra oil left to give to Indian companies.
Will have to buy expensive oil from the spot market
Let us let you know that after President Vladimir Putin started military action on Ukraine on 24 February, Western countries have imposed various types of sanctions on Russia. Even many European countries have stopped buying crude oil and gas from Russia. Since the military action on Ukraine and sanctions imposed by western countries, India’s oil distributor companies were trying to buy cheaper oil from Russia. Now that the Russian oil producer Rosneft has refused to give crude oil to India, in the coming days, India’s oil distributor companies may have to buy oil from the spot market at expensive prices.
Indian Oil gets success in sealing the deal
According to media reports, India’s three oil distributor companies Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) from Russia’s Rosneft Company for 6 months after the war with Ukraine broke out. Was engaged in negotiating a deal to buy cheap oil for the stock of. If reports are to be believed, Russian oil producer Rosneft has agreed to sign an oil sale deal only with Indian Oil Corporation Limited. The remaining two oil companies have refused to give oil to Bharat Petroleum and Hindustan Petroleum.
Rosneft to give 6 million barrels of oil to Indian Oil
According to the report, according to the agreement signed by Russia’s Rosneft with India’s Indian Oil Corporation for the sale of crude oil, Rosneft will initially give 6 million barrels of crude oil to Indian Oil and if needed, it will give 30 lakhs to Indian Oil. Barrels have made a deal to deliver extra oil. Along with this, Rosneft has rejected the proposal of the remaining two companies Bharat Petroleum and Hindustan Petroleum. Sources related to this deal tell that Rosneft has not made any promise to supply crude oil with Hindustan Petroleum and Bharat Petroleum. Sources say that after the already done deal, Rosneft is left with no surplus oil to make a deal with any other company to supply it. That is why he has refused to give oil to these two Indian companies.
