India’s Reliance Industries, owner of the world’s biggest refining complex, imported nearly 15 percent more oil in December compared with November, according to data from shipping and industry sources.
The sources declined to be identified as they were not authorised to speak to the media. Sources previously told Reuters that Reliance would halt imports of Iranian oil from November to protect its wider exposure to the U.S. economy, given Washington has re-imposed sanctions on Tehran.
Reliance shipped in 1.46 million barrels per day (bpd) of oil in December, an increase of about 15 percent from a year earlier, the data showed. The private refiner shipped in about 26 percent of its oil imports from Latin America in December, compared with about 23 percent in November, while the share of Middle East grades in its overall purchases dropped to 50 percent from 71 percent.
The refiner raised purchases from the United States. It shipped in about 9 percent of its overall imports from there, compared with about 1.4 percent in November. Read More