Fines impede oil delusions to an Indian refinement business

The Indian company is expected to “Nayara Energy” this month will receive the lowest amount of crude oil in its history, with oil imports and oil products exports under the weight of the sanctions introduced by the European Union. The detection of data from the Forta and Kepler companies shows that “Nayara”- partly owned by Russian oil giant “Rosneft” and on the blacklisted Brussels placed in July will receive less than 94 thousand barrels a day during August. This represents a sharp drop compared to about 366 thousand barrels per day during the period between July and September last year. The company received four consignments of the most important Russian “ural” rough this month, with a total of about 2.9 million barrels, but the last consignment arrived on August 9. According to a sea voyage mediator and shipping detection, no other consignments are expected to arrive during the remaining period of the month, despite the possibility of changing it. The lower operation of the refinery amid the lack of supplies was the refinery, the third largest facility of its kind in India in terms of production capacity, is about 70% of its capacity at the end of July, while traders expect this percentage to drop more than the company cannot obtain the necessary crude supplies. The situation seems to be the same as the challenge of the company’s sales of oil products abroad. Despite the success of ‘Nayara’ in the export of some consignments in recent days, it relied on ships belonging to the ‘dark fleet’ to transfer these supplies, at a time when the shipowners and legal traders were reluctant to handle them to violate the European sanctions. According to data that follows ships that two medium -sized tankers are on the black lists, Tarswan is currently at the “Nayara” patio in the Vadinar port, “Ocean Autumn” and “Varg” and they arrived two on Tuesday morning. The two carriers are subject to British sanctions, while the European Union also includes ‘Ocean Outman’ on its black list. Local shipping operators also worked with ‘Nayara’, as ‘The Great Eastern Shipping’ and ‘The Great Eastern Shipping’ and ‘Seven Islands Shipping’ operations with the transfer of fuel transfer between local ports, according to people familiar with the case. People asked not to reveal their identity because of the sensitivity of the matter. As a result, Nayara used land transport, such as trucks and railways to spread more fuel in the market. A “Nayara” spokesman did not immediately respond to a request for email comment. European sanctions place financial and operational challenges to impose its fines on “Nayara” on July 18 because of the support for the Kremlin War in Ukraine through the Russian oil trade. Since then, the company has experienced problems with the implementation and receipt of payments, which led to it before the payment or accreditation letters before downloading fuel shatings, as well as reducing the operating figures in its Fadinar refinery. The company’s officials, based in Mumbai, held meetings with a number of Indian ministries to request advice on matters that have hampered their work since the imposition of sanctions. New -Delhi did not provide ‘Nayara’ in light of her efforts to deal with the consequences of the additional fees announced by US President Donald Trump. The newspaper “Economic Times” reported this week that “State Bank of India”, the largest lender in the country, stops its services related to international trade or foreign currencies, for fear of sanctions. Attempts to establish alternative banking relations The company has already communicated with the federal government to mediate a relationship with a local bank like UCO Bank, after European sanctions asked big banks to give more caution. Nayara runs a refinery with a capacity of 400 thousand barrels per day and owns about 7,000 fuel stations across India, and has also developed an integrated petrochemical complex along the refinery. Nayara’s ownership is currently distributed between Rosneft and an investment alliance led by SP in Kisani businesses, while the remaining shares are owned by individual investors.