'Never seen so many tankers': India's Russian crude imports may hit record high in June

India's crude oil imports from Russia could reach a record high in June, according to energy expert Anas Alhajji, who pointed to an unusually large number of tankers carrying Russian crude arriving at Indian ports.

"As I mentioned in early June, I wouldn’t be surprised if India’s crude oil imports from Russia hit a record high this month (June). And here we are — I’ve never seen so many tankers carrying Russian crude at Indian ports as I’m seeing right now," Alhajji, Chief Economist at NGP Energy Capital Management, said on Monday.

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Alhajji also shared a Kpler map showing multiple tankers transporting Russian crude to ports across India.

His remarks come weeks after a report by the Centre for Research on Energy and Clean Air (CREA) showed India remained the world's second-largest buyer of Russian fossil fuels in May, importing an estimated €5.8 billion ($6.7 billion) worth of Russian hydrocarbons.

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Crude oil accounted for around 83% of India's imports from Russia during the month, valued at €4.8 billion, according to CREA. Oil products and coal imports were valued at €550 million and €429 million, respectively.

The report found that India's overall crude import volumes rose 8% month-on-month in May, driven in part by a 21% increase in purchases of Russian crude.

Some of India's largest refining hubs reported significant increases in Russian oil arrivals. Volumes unloaded at the Vadinar refinery in Gujarat rose 36% from April levels, while deliveries to the Jamnagar refining complex increased 14%.

State-run refiners also expanded purchases after resuming imports earlier this year. Russian crude deliveries to the New Mangalore refinery rose 13% in May from the previous month, while imports at the Visakhapatnam refinery jumped 42%.

The Paradip refinery in Odisha recorded its highest volume of Russian crude imports in two years.

Russia has remained a key supplier to India since Western sanctions and trade restrictions reshaped global energy markets following Moscow's invasion of Ukraine. Indian refiners have steadily increased purchases of discounted Russian crude, helping contain energy costs and support refining margins.

According to CREA, China accounted for 50% of Russia's crude exports in May, followed by India at 36%, Turkiye at 6%, and the European Union at 5%.