Indian Oil Import

Timing of the new US-Israel bombing of Iran and Tehran's response couldn't be worse for India

Russia will still be the country's biggest supplier this month if flows reach the top of Kpler's range at 1.2 million barrels a day, but shipments are set to drop even further

Indian refiners see Venezuelan merey crude discounts shrink to record lows amid high freight costs and tighter supply dynamics

Foreign Secretary Vikram Misri said India's energy import decisions are driven by national interest, diversification and price stability, amid scrutiny of Russian oil imports, global market volatility

White House said in order that 'India has committed to stop directly or indirectly importing Russian Federation oil,' and that import tariffs on all Indian goods may be raised if it resumes purchases

India gets deep discounts on Russian crude and its exports of petroleum products to China have increased

Only two state-run refiners Indian Oil and BPCL and Russia-backed Nayara Energy Ltd purchased crude oil from Moscow in January

The announcement came after a phone call between Prime Minister Narendra Modi and Trump

India will continue to look out for the best prices and best margins for its refiners, strategically changing its buying slate while also dropping Russian imports slightly, a Kpler analyst said

US Treasury Secretary said that India's sharp reduction in Russian oil imports shows that tariff pressure has worked, opening the door for a rollback of the additional 25% duty imposed by Trump

India has gained the least since Russia invaded Ukraine in February 2022 and was penalized the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war

India slightly cut its reliance on Russian crude in early 2025, while imports from the US surged 83.3 per cent in value to $7.8 billion, reflecting a strategic shift toward alternative crude sources

With the November 21 deadline now past, India's Russian crude inflows are easing but not collapsing as refiners pivot to non-sanctioned suppliers, tap alternatives and benefit from soft global prices

India has been snapping up discounted Russian crude for three years, but US sanctions that take effect on Friday are expected to end the lucrative trade

Fitch Ratings says sanctions on Rosneft and Lukoil - which supply around 60% of India's Russian crude - may not materially affect OMC margins, though compliance challenges

India's record US crude imports come amid efforts to diversify away from Russian oil and manage trade frictions with Washington

Discounts on Urals crude loading in November are $2-to-$2.50 a barrel to Dated Brent, making it attractive

BP projects India's oil demand to grow 80% by 2050 even as renewables surge; coal to retain over 40% share in the energy mix under current trajectory

While trade negotiations are on a positive track, a US official said, more work is needed to ensure India addresses US concerns over market access, the trade deficit and purchases of Russian oil

New Delhi's representatives traveled to the US for talks after Washington imposed crushing tariffs on the country in punishment for its oil trade with Russia