Oman Sees Increasing Ship-to-Ship Transfers of Russian Oil Bound for India

April 5, 2024/in /by Rudolf Huber

All this has a price. It’s cheaper to do it with oil than with LNG as oil does not vaporize constantly but it’s still no fun. This only makes exports more expensive for Russian exporters leaving less on the plate for them. It might even potentially wipe out profits for Russian oil exporters altogether. The true cost stack of any oil from any non-transparent export country is essentially impossible to know. I sometimes even think they themselves don’t know as there are so many hands taking out their due and they can’t be interested to have anyone seeing how they do it. So it will be hidden in the cost of business. We won’t be able to prevent China from buying Russian oil but we can make it uneconomical for Russians.

The waters off Oman are emerging as a hot spot for ship-to-ship transfers of Russian oil heading to India, as the US steps up scrutiny of the flows.

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