India well placed to seize Russian oil opportunities

India well placed to seize Russian oil opportunities

India is well positioned to capitalise on Russian oil opportunities and is gradually stepping up as a buyer of Russia’s oil exports.

“China and India both have large-scale world-class refineries, but their ability to react to market volatility and capture opportunities is vastly different,” consultancy Rystad Energy said in a note last week.

As well as having a geographical advantage over their Chinese counterparts, Indian refiners have relatively higher flexibility over their refinery and product marketing operations, said Rystad.