"Spot purchases have gone down because somewhere there has to be a dip to make up for all the Russian purchases," Shrikant Madhav Vaidya told the Middle East Oil and Gas Conference in Dubai.

Vaidya also said Russian cargoes fit the refinery's specifications and that India's growing consumption, reaching record levels in March, have left room for more imports.

(Reporting by Maha El Dahan; Editing by David Goodman)