Novak: Russian oil exports to India grew 19-fold to 41 mln tonnes, to China 28% to 89 mln tonnes in 2022

MOSCOW. June 8 (Interfax) - Russia boosted oil and oil product exports to friendly countries, primarily India and China, in 2022, Deputy Prime Minister Alexander Novak said in an article for the Energy Policy magazine.

"Oil exports to friendly countries grew 76%, and oil product exports 20% in 2022. In total, almost 40 million tonnes of oil and oil products were redirected from western markets to eastern ones last year," Novak said.

He said Russian oil exports to India grew 19-fold to 41 million tonnes, and to China they grew 28% to 89 million tonnes, Oil product exports to India doubled to 6.2 million tonnes.

"Russia is second among the leading oil suppliers to China and ranks first by oil shipments to India," Novak said.

He said the upward trend in shipments to the Asia-Pacific region would continue in 2023. "Only 87 million tonnes or 40% will be left of the 223 million tonnes of oil and oil products that were exported towards the west," he said.

Russia increased oil production 2% to 535.2 million tonnes in 2022. Exports grew 7.6% to 242 million tonnes.