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Russian crude oil gets cheap in global market

The Ministry of Petroleum has prepared a preliminary report on Russian crude oil.

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11 months ago

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Russian crude oil gets cheap in global market
GNN Media: Representational Photo

Ministry of Petroleum prepared an annual preliminary report on Russian crude oil.

According to the report, Russian oil is only Rs10 per liter cheaper than the global market.

As per the officials, 100,000 metric tons of crude oil was ordered from Russia, the volume of Russian crude oil is 715,000 barrels.

Both cargoes of Russian oil cost about 5.29 million dollars, if the same amount of crude oil was ordered from the world market, it would have cost 5.72 million dollars.

Furthermore, the two cargoes of Russian crude oil were 42 lakh 9 thousand dollars cheaper than the international market, Russian crude oil is being refined in the PRL refinery.

During the refining process, 50% French oil and 50% petrol diesel have been extracted, leading to a difference in the prices due to the reduction in petrol-diesel rates.

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