Saturday, September 05
India's imports of Russian crude oil — the feedstock for fuels like petrol and diesel — are expected to drop sharply in the near term but not halt entirely as new US sanctions on Moscow's top oil exporters take full effect, analysts said.US sanctions on Rosneft and Lukoil, and their majority-owned subsidiaries, took effect on November 21, effectively turning crude linked to these firms into a "sanctioned molecule".India's crude oil imports from Russia, averaging 1.7 million barrels per day (bpd) this year, remained firm ahead of the cutoff, with November arrivals projected at 1.8-1.9 million bpd, as refiners maximise discounted purchases. But flows are expected to drop noticeably in December and January, with analysts estimating near-term declines to around 4,00,000 bpd.Traditionally,
Aurobindo Pharma is currently incurring a loss at its China-based facility and expects the plant to achieve break-even by the end of the fiscal year, according to its CFO S Subramanian.The Hyderabad-based drug major remains confident about sustaining its growth momentum and driving value creation across all businesses, he said."China (plant), as on date in the quarter, I will be incurring a loss of around maybe a million dollars, but, probably, we will be able to achieve the break-even between Q3 and Q4 and after that, China will start moving up in the overall contributing to the growth of the EBITDA growth," Subramanian said in an analyst call.The oral-solid-dosage (OSD) facility in China continues to ramp up, advancing towards the capacity of two billion, backed by European approval of t
