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Saudi Aramco halts crude supply to India's Nayara Energy due to EU sanctions on Rosneft.

Saudi Aramco and Iraq’s SOMO Oil have halted crude oil supplies to India’s Nayara Energy due to EU sanctions on Russia’s Rosneft, leaving Nayara reliant solely on Russian imports. This disruption has forced Nayara to operate at 70-80% capacity and utilize “dark fleet” vessels for fuel transport amid challenges in securing buyers and payment issues. The company, which holds about 8% of India’s refining capacity, recently appointed a new CEO from Azerbaijan’s SOCAR, highlighting its ongoing struggle to adapt amidst geopolitical tensions affecting energy trade. This situation underscores the vulnerability of Indian energy security and the need for diversification in crude sourcing.

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