Correct Answer : Netherland
The Netherlands has emerged as the top destination for India’s petroleum product exports such as petrol and diesel in the first half of the current fiscal year(2022).
* This bump in exports has also resulted in the Netherlands becoming the third biggest market for India’s overall exports, thereby replacing China.
* This change comes in the wake of the Ukraine war, with India continuing to buy discounted crude oil from sanctions-hit Russia. India is a key Asian refining hub, with an installed capacity of nearly 250 million tonnes per annum across 23 refineries.
* South Africa and Brazil also ramped up refined petroleum product purchases including those of ATF from India in H1, making it to the top 10 petroleum product export markets for Indian refiners.
* Oil companies keep changing their storage facility. At times they store in the Netherlands, at times in Singapore or Venezuela. So (refined) oil moving to the Netherlands could be for the purpose of redistribution to other European countries in the winter.
* Another point is that a lot of countries do not wish to import fuel from
Russia directly and India is getting oil from Russia at competitive prices and we also have a refining facility. And Indian private companies are involved,
Federation of Indian Export Organizations (FIEO) director general "Ajay Sahai" said..
Source : Mint
