Hungary imports about 5 million tons of crude oil from Russia annually via its state energy company MOL. It is one of two direct buyers of Russian crude in the EU. President Trump earlier this month called on the EU to step up pressure on Moscow by shunning any and all hydrocarbon imports, including LNG.
India is on track to import nearly 1.8 million barrels per day (bpd) of crude oil from Russia in May, which would be a 10-month high, according to vessel-tracking data by Kpler. Indian refiners have increased buying activity for lighter Russian grades, such as ESPO, showed the Kpler data cited by Reuters. The strong Indian imports […]
The year-to-date rate of oil imports, however, remains a decline on 2023 and chances are that the full-2024 figure will be lower than the 2023 total as well. This will probably add fuel to trader pessimism about future demand even as China doubles down on stimulus to accelerate its economic growth.
China’s consumption has been a weak spot for the market, and last month’s decline in inflows came as local refiners cut throughput amid weaker margins
The first oil shipment destined for Uganda docked at the port of Mombasa on Wednesday, marking an end of Kenyan oil market companies fuel transit business to the neighbouring country.
Two tankers carrying the maiden consignment of petroleum products directly imported by Uganda will dock at the Mombasa port next week, marking an end to the monopoly long enjoyed by Kenya oil marketers.