This Article is From Apr 06, 2022

Who Is Still Buying Russian Crude Oil, And Who Is Not Anymore?

List of current and former buyers of Russian crude.

Who Is Still Buying Russian Crude Oil, And Who Is Not Anymore?

Factbox-Who is buying Russian crude oil and who has stopped

Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow's invasion of Ukraine, but the European Union remains divided.

The bloc's 27 members have been unable to agree on an embargo, with Germany warning against hasty steps that could push the economy into recession, and some countries, such as Hungary, opposing any bans.

Germany, however, aims to phase out Russian oil imports by the end of this year, officials said, as does Poland.

Many buyers in Europe are shunning Russian crude voluntarily to avoid reputational damage or possible legal difficulties.

China's state refiners, such Sinopec, have been honouring existing Russian oil contracts, but avoiding new ones despite steep discounts not to be seen as openly supporting Moscow.

Meanwhile, India, the world's third largest oil importer, has increased crude oil purchases from Russia, taking advantage of deep discounts.

It has booked at least 16 million barrels of Russian oil since the invasion of Ukraine on February 24, close to the level of its imports for all of 2021, Reuters calculations show.

Below are current and former buyers of Russian crude (in alphabetical order):


BHARAT PETROLEUM: Indian state-run refiner Bharat Petroleum Corp Ltd has bought 2 million barrels of Russian Urals for May loading from trader Trafigura, two sources familiar with the purchase said. The company regularly buys Russian Urals for its 310,000 barrels per day (bpd) Kochi refinery in southern India.

HELLENIC PETROLEUM: Greece's biggest oil refiner relies on Russian crude for about 15 per cent of its intake. The company earlier this month secured additional supplies from Saudi Arabia.

HINDUSTAN PETROLEUM: India's state refiner bought 2 million barrels of Russian Urals for May loading, according to trading sources last week.

INDIAN OIL CORP: India's top refiner on March 23 bought 3 million barrels of Urals for May delivery from Vitol, trade sources said. This is the second purchase of Urals by IOC since Russia invaded Ukraine on February 24.

The company has a contract with Rosneft that gives it an option to buy up to 2 million tonnes, equivalent to about 15 million barrels, of Urals crude in 2022.

ISAB: Italy's largest refinery, owned by Lukoil-controlled Swiss-based Litasco SA, processes Russian and non-Russian crudes.

LEUNA: The land-locked Leuna refinery in eastern Germany, majority-owned by TotalEnergies, is also fed Russian crude by the Druzhba pipeline.

MANGALORE REFINERY AND PETROCHEMICALS: State-run Indian refiner has bought 1 million barrels of Russian Urals crude for May loading via a tender from a European trader, a rare purchase driven by the discount offered.

MIRO: Russian crude continues to account for about 14 per cent of the intake at Germany's largest refinery, Miro, which is 24 per cent owned by Rosneft..

MOL: The Hungarian oil group, which operates three refineries in Croatia, Hungary and Slovakia, continues to buy Russian crude via Druzhba pipeline, as well as refined products, a company source told Reuters.

Hungary is opposed to sanctions on Russian oil and gas.

NAYARA ENERGY: Indian private refiner, part-owned by Russia's Rosneft, has purchased Russian oil after a gap of a year, buying about 1.8 million barrels of Urals from trader Trafigura.

NEFTOCHIM BURGAS: A Bulgarian refinery, owned by Russia's Lukoil, and with Russian crude accounting for about 60 per cent of its intake, continues to refine Russian crude.

PCK SCHWEDT: Germany's PCK Schwedt refinery, 54% owned by Rosneft, receives crude oil via the Druzhba pipeline.

PERTAMINA: Indonesian state energy firm PT Pertamina is considering buying crude oil from Russia as it seeks oil for a newly revamped refinery.

PKN Orlen: Poland's largest refiner has stopped buying Russian crude on the spot market, switching to North Sea oil, but is still buying Urals under previously signed contracts which expire by the end of this year or later.

The company, which operates refineries in Lithuania, Poland and the Czech Republic, saw its profit from refining surge in March thanks to the discount it pays for Russian oil.

ROTTERDAM REFINERY: Exxon Mobil declined to comment on whether its Dutch refinery in Rotterdam was using Russian crude oil.

SINOPEC: China's state-run Sinopec, Asia's largest refiner, is continuing to purchase Russian crude under previously signed long-term contracts but is steering clear of new spot deals.

ZEELAND REFINERY: The Dutch refinery, 45 per cent owned by Lukoil, declined to comment on whether it was using Russian crude oil.


BP: The British oil major, which is abandoning its stake in Rosneft, will not enter new deals with Russian entities for loading at Russian ports, unless "essential for ensuring security of supplies".

ENEOS: Japan's biggest refiner has stopped buying crude oil from Russia, while some cargoes signed under previous agreements will arrive in Japan until around April.

ENI: The energy group, 30.3 per cent owned by the Italian government, is suspending purchases of Russian oil.

No Russian crude will be used at Germany's Bayernoil refinery, in which Eni and Rosneft have stakes.

EQUINOR: Norway's majority state-owned energy firm has stopped trading Russian oil as it winds down its operations in the country.

GALP: The Portuguese oil and gas company has suspended all new purchases of petroleum products from Russia or Russian companies.

GLENCORE: The global mining and trading firm, which holds 0.57% stake in Rosneft, said it would continue to honour its obligations under previously signed contracts, but would "not enter into any new trading business in respect of Russian origin commodities unless directed by the relevant government authorities".

NESTE: The Finnish refiner has Russian oil contracts until the end of the year, but is not making any new supply agreements.

PREEM: Sweden's largest refiner, owned by Saudi billionaire Mohammed Hussein al-Amoudi, has "paused" new orders of Russian crude, which accounted for around 7% of its purchases, replacing them with North Sea barrels.

REPSOL: The Spanish company has stopped buying Russian crude oil in the spot market.

SHELL: The world's largest petroleum trader will stop buying Russian crude and phase out its involvement in all Russian hydrocarbons.

TOTALENERGIES: The French oil major will not sign new contracts, promising to stop buying Russian crude oil and petroleum products by the end of this year.

VARO ENERGY: The Swiss refiner, which owns 51.4 per cent in Germany's Bayernoil refinery, said it did not plan to enter into new deals to buy Russian crude.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)