Saudi Aramco, Iraq’s SOMO Halt Oil Sales to India’s Nayara

Saudi Aramco and Iraq’s state-run SOMO have halted crude sales to India’s Nayara Energy following European Union sanctions on the Russian-backed refiner in July, Reuters reporters Nidhi Verma and Mohi Narayan wrote.

Sources cited payment difficulties for SOMO cargoes. (Photo: State Oil Marketing Company (SOMO) Facebook)

The suspension left Nayara — majority-owned by Rosneft and other Russian entities — dependent solely on Russian crude in August.

Shipping data shows the company usually receives about 2 million barrels of Iraqi crude and 1 million barrels of Saudi crude monthly, but none arrived last month.

Sources cited payment difficulties for SOMO cargoes. Nayara’s last Basra crude shipment was discharged on July 29, while its final Saudi delivery — 1 million barrels of Arab Light — came July 18.