Indian Oil Refiners

Indian Oil aims to increase refining capacity to 98.4 MTPA by 2028

If US and UN sanctions ease, Iranian crude could return to Indian refineries, offering a cost-effective alternative as Russian oil flows shrink

India seeks weekly data on Russian and US oil buys as crude imports from Moscow may fall below 1 million bpd amid sensitive trade talks with Washington

India has been balancing the risk of secondary sanctions - and the need to secure a trade deal with the US - against the risks that come with allowing much-needed ties to Russia to fray

Indian refiners will likely lean on Iraqi Basrah Medium, a type of crude oil, barrels to replace lost Russian grades

Rosneft, Lukoil major suppliers to India; crude import bill may rise by over ₹23K cr

India targets deepwater and ultra-deepwater oil and gas to cut import reliance and boost energy security

The country's top refiner, Indian Oil Corp, has bought 5 million barrels of US West Texas Intermediate crude for delivery in October and November via a tender

Former RBI governor Rajan pointed out that refiners have been earning excess profits from importing Russian oil, while exporters have taken a hit due to tariffs imposed by the US

State-run and private processors, including heavyweight Reliance Industries Ltd., are expected to buy 1.4 million-to-1.6 million barrels a day for October loading and beyond

India's state processors have bought large volumes of non-Russian crude this week for prompt September-October delivery

India's appetite for discounted Russian crude, and its position as the single largest buyer of Moscow's seaborne oil, has long been a pain point for the US and Western allies

Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Mangalore Refinery and Petrochemicals Ltd have not placed new orders for Russian crude

A major buyer of Russian oil, India is now finding itself blindsided by a more aggressive approach to the Kremlin from both Washington and Brussels

The sanctions freeze US-based assets of the six Indian companies and prohibit US entities from any dealings, affecting global petrochemical trade links

Reliance Industries Ltd. and Nayara Energy Ltd. alone took 45 per cent of Russia's shipments of the medium-sour variety

Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to jointly issue a tender later this year for the medium-range tankers

Targets $4 billion of capex in FY26, up from $3.71 billion last year

Plans to resume crude oil imports had been shattered in the wake of multiple airstrikes between Israel and Iran in April last year

The Indian cancellations could limit the rally in Malaysian palm oil prices, although they could also support soyoil prices as some refiners shift to soyoil