1. Forum
  2. Usenet
  3. SOC.CULTURE.CHINA

  • India buys russian oil cheap [BBC]

    From A. Filip@21:1/5 to All on Wed Jun 8 06:52:24 2022
    https://www.bbc.co.uk/news/world-asia-india-60783874
    2022-06-07T11:25:06.000Z
    Ukraine crisis: Why India is buying more Russian oil
    […] While the exact price of the sales made to India is unknown, "the discount of Urals to Brent crude [the global benchmark] remains at
    around $30 per barrel", says Matt Smith, an analyst at Kpler.
    These two types of crude normally sell at a similar price. […]
    Foreign Minister S Jaishankar said recently that because of sanctions
    on other major producers such as Iran and Venezuela, Western countries
    had "squeezed every other source of oil we have."
    India has also denied recent reports that Russian crude imported by
    India was being shipped on as refined products to other countries,
    including the US.

    --
    A. Filip : Big (Tech) Brother is watching you.
    | There is no sincerer love than the love of food.
    | (George Bernard Shaw)

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From stoney@21:1/5 to A. Filip on Mon Jun 27 12:42:07 2022
    On Wednesday, June 8, 2022 at 2:52:27 PM UTC+8, A. Filip wrote:
    https://www.bbc.co.uk/news/world-asia-india-60783874
    2022-06-07T11:25:06.000Z
    Ukraine crisis: Why India is buying more Russian oil
    […] While the exact price of the sales made to India is unknown, "the discount of Urals to Brent crude [the global benchmark] remains at
    around $30 per barrel", says Matt Smith, an analyst at Kpler.
    These two types of crude normally sell at a similar price. […]
    Foreign Minister S Jaishankar said recently that because of sanctions
    on other major producers such as Iran and Venezuela, Western countries
    had "squeezed every other source of oil we have."
    India has also denied recent reports that Russian crude imported by
    India was being shipped on as refined products to other countries, including the US.

    --
    A. Filip : Big (Tech) Brother is watching you.
    | There is no sincerer love than the love of food.
    | (George Bernard Shaw)


    Because it is cheap and unlimited sales, it is highly possible that India bought more cheap crude oil from Russia and is then shipped to US or to EU. US and EU are using contractors to buy for them.

    Hence, they will not tell the world that they breached the sanctions. India does not have enough money to build modern infrastructural capacity of modern refinery to support its electricity needs and export of refined oil products which required modern
    advanced refinery technology to convert refined to higher yield's refining quality products.

    The maximum they can do is to convert crude oil to diesel, and kerosene, and tar for road. India does not even have enough of commercial oil tankers to collect crude oil, too. They depend on ship contractors to send ships to collect their crude oil
    purchases. It is likely that excess need of quantity of crude oil purchased by India are then shipped to US and EU instead. It is game play played by US and EU.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From stoney@21:1/5 to A. Filip on Mon Jun 27 13:14:01 2022
    On Wednesday, June 8, 2022 at 2:52:27 PM UTC+8, A. Filip wrote:
    https://www.bbc.co.uk/news/world-asia-india-60783874
    2022-06-07T11:25:06.000Z
    Ukraine crisis: Why India is buying more Russian oil
    […] While the exact price of the sales made to India is unknown, "the discount of Urals to Brent crude [the global benchmark] remains at
    around $30 per barrel", says Matt Smith, an analyst at Kpler.
    These two types of crude normally sell at a similar price. […]
    Foreign Minister S Jaishankar said recently that because of sanctions
    on other major producers such as Iran and Venezuela, Western countries
    had "squeezed every other source of oil we have."
    India has also denied recent reports that Russian crude imported by
    India was being shipped on as refined products to other countries, including the US.

    --
    A. Filip : Big (Tech) Brother is watching you.
    | There is no sincerer love than the love of food.
    | (George Bernard Shaw)

    India has coal and hence they used coals for production of electricity. Coal costs nothing to India because it is free as it is their own resources. They do not need to pay for imports like oil. They will buy some oil to meet the local needs and
    requirement like engine oil, gasoline, kerosene, for their own consumer usage only.

    India has millions of cheap labor and therefore, the country can spend little taxpayer money to pay local employment to mine for coals instead. Digging for coals in coal mines does not need skill set. All they need hard work and not skill labor. In
    modern oil refinery of refining higher yield oil products, India required higher skill set of labor than coal labor.

    India does not have enough of storage tank capacity to increase its storage capacity. It needs time and investor money to build huge storage tanks. When in excess of crude oil needs, it is possible that India hires ship owners to ship for them of crude
    oil from Russia.

    The ship owners will then ship their purchased of crude oil directly to US and EU instead. India can simply make a huge tidy profit without doing anything from their sales of surplus crude oil that were purchased and shipped by their contractors from
    Russia. They just changed hand only and they can make a tidy profit from it. Henceforth, Russia should see that India does not purchase more than they normally needs in stock of crude oil.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From paul polikos@21:1/5 to A. Filip on Fri Jul 1 05:49:31 2022
    On Wednesday, June 8, 2022 at 6:52:27 AM UTC, A. Filip wrote:
    https://www.bbc.co.uk/news/world-asia-india-60783874
    2022-06-07T11:25:06.000Z
    Ukraine crisis: Why India is buying more Russian oil
    […] While the exact price of the sales made to India is unknown, "the discount of Urals to Brent crude [the global benchmark] remains at
    around $30 per barrel", says Matt Smith, an analyst at Kpler.
    These two types of crude normally sell at a similar price. […]
    Foreign Minister S Jaishankar said recently that because of sanctions
    on other major producers such as Iran and Venezuela, Western countries
    had "squeezed every other source of oil we have."
    India has also denied recent reports that Russian crude imported by
    India was being shipped on as refined products to other countries, including the US.

    --
    A. Filip : Big (Tech) Brother is watching you.
    | There is no sincerer love than the love of food.
    | (George Bernard Shaw)

    India is buying Russia's cheap oil with Chinese RMB!

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From stoney@21:1/5 to paul polikos on Fri Jul 1 10:10:43 2022
    On Friday, July 1, 2022 at 8:49:34 PM UTC+8, paul polikos wrote:
    On Wednesday, June 8, 2022 at 6:52:27 AM UTC, A. Filip wrote:
    https://www.bbc.co.uk/news/world-asia-india-60783874
    2022-06-07T11:25:06.000Z
    Ukraine crisis: Why India is buying more Russian oil
    […] While the exact price of the sales made to India is unknown, "the discount of Urals to Brent crude [the global benchmark] remains at around $30 per barrel", says Matt Smith, an analyst at Kpler.
    These two types of crude normally sell at a similar price. […]
    Foreign Minister S Jaishankar said recently that because of sanctions
    on other major producers such as Iran and Venezuela, Western countries had "squeezed every other source of oil we have."
    India has also denied recent reports that Russian crude imported by India was being shipped on as refined products to other countries, including the US.

    --
    A. Filip : Big (Tech) Brother is watching you.
    | There is no sincerer love than the love of food.
    | (George Bernard Shaw)
    India is buying Russia's cheap oil with Chinese RMB!

    The latest offer from Russia to India is to pay in EURO or USD. They know India is being used by the West and EU to buy from them through India. India is using a big Indian company Reliance Industries to buy for them or buy for their buyers in US and EU.

    Australia had imposed a ban on purchase of Russian oil, but now is quickly seeking their Parliamentary approval to buy Russian oil through its oil trading contractors in Australia for them or through Indian's Reliance industries to buy for them.

    Seriously, they also want to buy cheap oil to stockpile it, too. Therefore, who cares about sanctions when they know they as 5 eyes members of white countries are bluffing themselves, too.

    They know that, when buying through third parties, there is no crime to the sanctions imposed. India don't need so much oil to stock pile. They don't have enough of storage tanks, but they can buy on behalf of others and make a good commission from it.

    The majority of India is agriculture and people live in villages. Hence, they rely on cheap dried cow dungs as fuel to light up their home and to do cooking too. India don't need modern electricity except some local small industries. Most locals live in
    villages and hence little impact from even high oil price.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)