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

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© Reuters. FILE PHOTO – View of railroad freight cars and oil tanks in Omsk (Russia), May 1, 2020. REUTERS/File photo

(Reuters] – This is what countries and companies have responded to regarding Russian oil imports since the start of the war in Ukraine on February 24th.

Australia, Canada, Britain, and the United States have all imposed bans on Russian oil purchase. The Group of Seven (G7) members, including Japan committed to resolving any remaining Russian oil imports by May 8.

European Union ratified a ban on Russian oil from seaborne, with a phase in period of six and eight months respectively for the refined product.

Oil supplied by the Druzhba pipe is not affected, which allows oil refineries to continue their imports from Germany and Eastern Europe. However, Germany and Poland said that they will phase out any purchases through the pipeline before the end 2022.

It would total approximately 90% of Russian oil imported to the EU.

JP Morgan reports that 26 European trading and refiners have suspended spot purchases of Russian imports before the ban was adopted.

China and India are enjoying discounts on Russian crude oil, despite their refusal to condemn Russia’s actions.

According to Refinitiv Eikon data and oil flow reports, India received about 34 million barrels worth of Russian oil at a discount since Moscow invaded Ukraine.

Here are the names of current and past buyers for Russian crude oil (in alphabetical ordering)

Current Buyers

BHARAT PETROLEUM

Two people who were familiar with the transaction said that Bharat Petroleum Corp Ltd, an Indian state refiner, has purchased 2 million barrels from Trafigura to load May’s shipment of Russian Urals.

Russian Urals are frequently purchased by the company to supply its Kochi refinery, in southern India with 310,000 barrels per daily (bpd).

HINDUSTAN PETROLEUM

Trading sources claim that India’s State Refiner bought 2 Million Barrels of Russian Urals to load May.

INDIAN OIL COMPANY

India’s leading refiner, ONGC, has purchased over 6 million barrels Urals since February 24, 2018, and is in agreement to purchase up to 15 million barrels Russian crude oil from Rosneft by 2022.

ISAB

The largest Italian refinery is owned by the Lukoil-controlled, Swiss-based Litasco SA. It continues to purchase Russian crude while the Italian government examines the possibility of nationalizing ISAB temporarily.

LEUNA

France’s TotalEnergies still owns the majority of Leuna in eastern Germany and continues to buy Russian crude from Druzhba.

MANGALORE PETROCHEMICALS & REFINERY

Indian state-run refiner has purchased 1 million barrels Russian Urals crude to load May through a tender with a European trader. It was a rare transaction driven by the offer of a discount.

MIRO

Russia’s Rosneft continues to own 24% of Germany’s biggest refinery. This accounts for approximately 14% total crude intake.

MOL

Hungarian Oil Company stated that it would take at most 2-4 years to completely switch the two Slovakia and Hungary oil refineries to other crude processing. Currently, 35% of total intake is from Hungary.

NAYARA ENERGY

Rosneft has part of an Indian private refiner that purchased Russian oil. After about a year of waiting, the Indian company bought approximately 1.8 million barrels Urals from Trafigura.

NEFTOCHIM BURGAS

Officials say that a Bulgarian oil refinery is still being operated by Russia’s Lukoil. It refines Russian crude about half of what it consumes.

PCK SCHWEDT

Rosneft continues to purchase Russian crude oil via Druzhba’s refinery in Germany, which is 54% of Germany’s PCK Schwedt.

German officials stated they wanted to replace Russian crude by alternative imports through the German port Rostock or ports in neighboring Poland. This would allow the refinery to continue to operate.

PERTAMINA

PT Pertamina Indonesia, a state-owned oil company, is exploring Russian crude oil as it searches for oil to fuel a revamped refinery.

SINOPEC

China’s state-owned Sinopec, Asia’s largest refiner and producer of crude oil, will continue to import Russian crude oil as per long-term deals previously agreed.

FORMER BUYERS

BP (NYSE 🙂

British oil giant, British Petroleum Corporation has withdrawn from Russia. It stated that it will no longer enter into new agreements with Russian companies for loading Russian vessels at Russian ports.

ENEOS

Japan’s top refiner decided to stop buying oil from Russia. It plans on sourcing alternative supply sources from the Middle East.

ENI (BIT:)

It is 30% owned by Italy’s energy company. The group has stopped buying Russian oil. This includes for Germany’s Bayernoil refinery where it holds a small stake.

EQUINOR

Norway’s state-owned majority energy firm, Norway Energy Company has stopped trading Russian oil. It also exited Russia.

GALP

All new Russian oil products and Russian-related companies have been canceled by the Portuguese oil and natural gas company.

GLENCORE

According to the global trading and mining firm, it said it wouldn’t enter into new trades relating Russian-origin commodities except if directed by the appropriate government officials.

HELLENIC PETROLEUM

Greece’s largest oil refiner stopped buying Russian crude oil and has replaced it by additional supply from Saudi Arabia.

NESTE

The Finnish refiner said that it has already replaced around 85% of Russian crude oil by other crude oil since April and will not be entering into new agreements to purchase Russian oil.

OMV PETROM

Romania’s biggest oil and natural gas producer, OMV Austria, said that they were preparing for a withdrawal from Russian crude imports. Russian oil accounts for 30% of Romania’s Petrobrazi annual requirements.

PKN Orlen

Poland’s biggest refiner, a major one, has stopped buying Russian crude for the spot market. Instead, it is switching to North Sea oils, as previously agreed long-term supply deals expire at the end of the year. Russian crude is responsible for 30%.

PREEM

Mohammed Hussein al-Amoudi is the owner of Sweden’s biggest refiner. He has now replaced Russian barrels which used to make up 7%, with North Sea barrels.

REPSOL

Spanish oil company stopped purchasing Russian crude oil on the spot market.

SHELL

World’s biggest petroleum trader has stopped buying Russian crude oil, refined products and blended fuels.

TRAFIGURA

Global commodities trader based in Geneva plans to cease all crude oil purchases from Rosneft beginning May 15, when stricter EU oil export rules come into force. It also intends to “substantially” decrease the volume of Rosneft-sourced refined products.

TOTALENERGIES

French energy company, Leuna, in eastern Germany, is no longer making deals with Russian oil buyers and will stop buying it.

VARO ENERGY

Swiss oil refiner Bayernoil, which holds 51.4% of Germany’s Bayernoil refinery has stated that it will no longer be entering into any new agreements to purchase Russian crude.

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