Unlike their public-sector counterparts, private players export a large portion of their output to Europe and Asia at lucrative prices
The government has no say in where the country's refiners source oil from because these are commercial transactions, the official reiterated
This comes as Trump-Putin meet remains inconclusive
The country needs energy and Trump knew that when he announced a 25 per cent tariff on much of India's exports for sourcing discounted oil from Russia, which is India's oldest ally
Over half of the 40 ships carrying Russian oil to India for deliveries this month are uncertain about discharging their cargoes because they will reach India only after August 21
State-run refiners are covered for deliveries of crude oil in September even if Russian oil flows cease, a senior trader at a state refiner said. Another trader said they are mostly covered
Private-sector refiners account for around half the imports in Aug
India's renewable plans read bold, but shortfalls in generation, grid gaps, and sluggish execution risk dimming the big switch
Only casualty for now is the export of fuels by the refiner
Import from Russia in July was around 1.5 million barrels per day (bpd), the lowest this year after February, compared to 1.95-2.1 million bpd in June
Trump Sanctions On Russian oil puts the squeeze on India's Biggest Crude Supplier
Different kinds of sanctions are staggered for implementation until Jan 2026, giving further room for Indian refiners to take countermeasures, according to EU sanction documents and refining officials
Fuel export to Europe is already on decline after record 2023
The climate strategy may pave the path to a national carbon budget, an element critical in achieving net zero, but increase costs for companies transitioning to low-emission strategies
An official said main problem for India's petroleum sector, considering its lucrative geology less than that of countries in Africa and South America, was frequent changes in tax & incentive policies
Total imports from the US stood at $8.9 billion in April-May 2025, up from $7 billion in the same period a year earlier, Indian customs data showed
A team from OIL - the first state-run oil firm to set up a dedicated department for critical minerals - visited the so-called Lithium Triangle last month
India's energy economy and state finances have suffered since 2022, when Russia invaded Ukraine, because of lack of adequate stock and dependence on foreign fuel
True rapprochement between Israel and Iran remains elusive, complicated further by the Gaza conflict that has pitted Israel against Iran-backed groups like the Houthis, Hamas, and Hezbollah, says Hari
Traders say discounts on Russian oil may fall below $2 a barrel amid rising shipping costs and competition from China and Turkey