Скачать или смотреть Who is benefitting from Russian Oil Import? (shorts)

✅INDIA IS THE 3RD LARGEST OIL CONSUMER IN THE WORLD

✅India's annual consumption of petroleum products is about 220 million metric tonne, it’s the 3rd largest consumer in the world after china & USA

✅India's own crude oil production is hardly 30M metric tonne

✅So India imports about 85% of its crude oil

✅And refine the crude oil in India to make petroleum products

✅India's refining capacity is about 250MT

✅Where reliance alone has 25%

✅But Reliance doesn't sell a lot in Indian market

✅It refines the oil and exports the petroleum products mainly diesel to Europe & and the US

✅Now Russia has become a primary source of crude because of discounts, which India is getting

✅Contributing 35% of our imports in the month of Feb,

✅It used to be only 1 to 2% before the war began

✅Interestingly, Reliance has been importing more than half of cheap Russian oil

✅And no surprise, the benefit of which is not passed directly to the public since the majority of reliance's production moves into exports

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@insightswithtushit
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