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Amid US sanctions, oil buyers pull all levers to replace Russian shipments

Business Standard LogoBusiness Standard8h ago

Amid US sanctions, oil buyers pull all levers to replace Russian shipments - Business Standard

Quick Summary:

Adnoc has also been approached, with at least one state-owned refiner seeking more cargoes from the company, one of the traders said.

State-owned processors have issued a slew of spot tenders in recent weeks, snapping up oil from all corners of the world including Middle East, Africa and the US.

Buyers are effectively returning to long-term suppliers after two years of opportunistically prioritizing discounted Russian crude.


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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-23 @ 13:43:26 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 455 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 25359927

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About Business Standard

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 276 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

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