By Admin 
Russian Crude Oil Import: Reliance Industries Limited (RIL), a company led by business tycoon Mukesh Ambani, will resume buying oil from Russia from February. This has been revealed in a report by news agency Reuters. A senior executive of the company said on Thursday that 150,000 barrels of oil per day will be imported from Russia for the refining complex in Jamnagar, Gujarat.
Earlier, on November 20 last year, Reliance had completely stopped buying oil from Russia. After this, Reliance imported Russian crude oil for the last time during the one-month exemption from America in December. Despite the sanctions imposed on Russia’s big oil companies, Reliance got this exemption from America so that it could complete the deals made earlier with Russia’s state oil company Rosneft.
From whom will the company buy oil?
In the month of October, America had imposed sanctions on Russian energy companies Rosneft and Lukoil. However, Russian producers have continued to export crude oil to global buyers outside the scope of US sanctions. On the occasion of India Energy Week, a company executive, on condition of anonymity, said that Reliance Keal will buy oil only from those Russian companies which are not subject to sanctions. However, the suppliers were not disclosed.
Earlier, Reliance was importing about 500,000 barrels of Russian crude oil per day under a long-term agreement with Rosneft for its Jamnagar refinery complex in Gujarat. Apart from Russia, the company buys crude oil from countries like Saudi Arabia and Iraq under term contracts. Crude oil is purified in Reliance’s Jamnagar Refinery and then fuels like petrol and diesel are made from it. After this they are sent to many different countries like America, Europe.
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