reliance: Reliance imports over fifth of its oil from Russia: Report

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NEW DELHI: The share of Russian oil in Reliance Industries‘ overall crude imports in May rose to over a fifth as the conglomerate snapped up discounted Russian oil, shunned by many buyers after the West imposed sanctions against Moscow for its invasion of Ukraine, according to data from trade sources.
Reliance, the owner of the world’s biggest refining complex, imported about 1.4 million barrels per day oil in May, up 9.1% from April, the data showed.
The Middle East’s share of Reliance’s imports declined to 61% from 67% in April, while that of C.I.S. countries led by Russia rose to about 23% from 13%. The private refiner continued to skip intake of U.S. oil in May for the second month in a row, the data showed.

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