The company said it would take two to four years and cost between $500 million and $700 million to replace Russian oil imports in case of a full European embargo.
The Indian private refiner, part-owned by Rosneft, has purchased Russian oil after a gap of a year, buying about 1.8 million barrels of Urals from Trafigura. A Bulgarian refinery, owned by Russia's Lukoil, and with Russian crude accounting for about 60% of its intake, continues to refine Russian crude.Indonesian state energy firm PT Pertamina is considering buying crude oil from Russia as it seeks oil for a newly revamped refinery.
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