SEATTLE (Oil Monster): Sanctions-hit Indian oil refiner Nayara Energy is reportedly relying on dark fleet to import oil and transport refined fuels to its outlets across the country. The refiner has been struggling to maintain crude imports after being placed under EU sanctions in July this year. Incidentally, Nayara Energy accounts for almost 8% of the country’s total daily refining capacity.
Following the imposition of sanctions, shippers have backed out, thus forcing the refiner to cut crude runs.
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According to shipping reports and LSEG data, the refiner has imported seven cargoes of Russian oil, including on sanctions-hit vessels Centurion, Mars 6, Pushpa, Horae and Devika. These vessels were carrying around 700,000 barrels of Russian Urals crude, as per available data.
Nayara has cut crude runs to nearly 70-80% of the total capacity. It has sought government’s help in securing ships, so as to maintain stable refining operations at its Gujarat facility. Before sanctions, Nayara was selling nearly 70% of the refined fuels through its network of fuel stations across the country, with the remaining being exported.
As per sources, Indian lines are unwilling to carry oil and refined products for Nayara. However, Russian entities are helping the refiner in arranging ships. Also, trade sources indicate that Nayara continues to get uninterrupted oil supplies from Russian oil major Rosneft.
