Indian refiners have begun paying for Russian oil via Dubai traders in UAE dirhams
An interesting weekend item from Reuters about oil, but also about circumventing trade payments in the dominant USD – helping Russia to de-dollarise its economy. Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars India’s top bank, the State Bank […]
Rising domestic demand for diesel may impact exports by private refiners
India’s growing consumption of diesel—the mainstay of transport and industry sectors—is expected to adversely impact export of the key auto fuel to Europe by private refiners, Reliance Industries and Nayara Energy.“So far, we have not seen a massive increase in gasoil (diesel) exports to Europe from the two refiners, save for the increase seen since […]