Overview

• Ship-tracking data show Nayara took about 242,000 bpd of Russian crude in August and roughly 332,000 bpd in early September, with no cargoes from Iraq or Saudi Arabia in those months.
• Western shipping firms refused to carry Nayara’s oil and insurers withheld cover, pushing the refinery to rely on vessels arranged by Russia and to pare back runs at its 400,000 bpd Vadinar plant.
• Exports to Europe have been curtailed and an estimated 30,000 bpd of products moved to the UAE in September after no such flows in August.
• The EU’s July blacklist of Nayara, coupled with a tighter price cap and a 2026 ban on products made from Russian crude, triggered executive resignations and contractor withdrawals including Technip Energies and PT Timas Suplindo.
• Kpler notes Russia remains India’s top crude supplier, with loadings to India tracking around 1.45 million bpd in August and 1.3 million bpd to September 12, underscoring continued Russian flows.