India’s Second-Largest Refinery Sees Imports Plunge as EU Sanctions Bite

Nayara Energy, the Indian refiner in which Russia’s oil giant Rosneft holds 49%, is set to import in August the lowest volume of crude ever as the EU sanctions cripple procurement plans and sales of refined petroleum products. Nayara Energy is expected to import just 94,000 barrels per day (bpd) of crude this month, Bloomberg reports, citing ship-tracking data and trade sources. The August import volumes are set to be the lowest in the history of the refinery, India’s second-largest, with a capacity to process 400,000 bpd, and would…