NEW DELHI, October 15. /TASS/. Oil supplied by Russia will remain one of the most cost-effective raw materials for Indian refineries considering discounts compared to alternative sources and the high gross margin of the product, The Times of India reported citing the analytical agency Kpler.
In September, Russia maintained its position as India's largest crude oil supplier with a share of 34% of the South Asian republic's total energy imports, according to the report. India imported 1.6 mln barrels of oil per day from Russia last month, with this level remaining stable in October, the agency noted. India's total daily crude oil imports in September reached about 4.5 mln barrels.
India is the world's third-largest oil consumer, with a high import dependence rate of over 85%. Indian refineries purchase oil from more than three dozen countries.