Novak announces a 19-fold increase in oil exports to India

Last year, compared to 2021, Russia increased oil supplies to India by 19 times – up to 41 million tons, oil products – twice, up to 6.2 million tons, informed Deputy Prime Minister of Russia Alexander Novak in his article for the Energy Policy magazine.

As the politician noted, Russia is in second place among the leading suppliers of oil to China and in first place in terms of shipping oil to India. Novak added that Russia ranks second in terms of pipeline gas supplies and fourth in terms of LNG exports to China.

“Compared to 2021, oil supplies to India last year increased 19 times, to 41 million tons, and coal – ​3 times, to 20 million tons. Export of petroleum products to India in 2022 reached the level of 6.2 million tons (in 2021 – 3.1 million tons),” he wrote.

The politician also cited data on supplies to China: pipeline gas exports to China increased by 1.5 times and amounted to 15.4 billion cubic meters in 2022. m. LNG exports for the specified period reached 6 million tons, an increase compared to 2021 amounted to 35.2%. “The export of coal increased by a quarter to 67.1 million tons and by 28% – Russian oil (up to 89 million tons). A record 4.7 billion kWh of electricity was exported to China,” Novak said

In 2023, according to the politician, this trend will continue.

In April, Vedomosti, citing Kpler data wrotethat Russian oil companies in March 2023 increased oil exports to India by 4.6 times compared to March last year to 2.14 million barrels per day.

A similar opinion about record deliveries from Russia was given on April 9 by the Indian business publication Mint, citing data from the analytical company Vortexa. In March 2023, Russia was the largest oil supplier to India for the sixth consecutive month, analysts say. But in absolute terms, this estimate is significantly lower than that of Kpler: according to Vortexa, Russian oil supplies to India in March amounted to 1.64 million barrels per day.