India imported 1.63 million barrels of crude oil from Russia until September 23, as against 1.71 million barrels per day (bpd) in August, according to data from Kpler, a global shipping data and analytics provider. India’s Russian oil imports are expected to increase by around 200,000 bpd by the end of September — exceeding August levels.
“This (September oil imports from Russia) is expected to exceed August levels (1,715 kbpd), with vessel tracking data indicating an additional around 180-200 kbpd of Russian barrels set to arrive before month-end,” said Nikhil Dubey, senior research analyst, refining & modeling at Kpler. Higher oil volumes from Russia in September also reflect the restart of state-run Bharat Petroleum Corporation Limited’s (BPCL) Bina refinery, a key importer of Russian barrels, in Madhya Pradesh, which underwent a one-month shutdown in early August, added Dubey.
Refiners have continued purchase of crude oil from Moscow, stating absence of direct sanctions on Russian oil or Indian government’s directive to halt supplies.
Effective August 27, Trump imposed an additional duty of 25 per cent on India, doubling tariffs to 50 per cent, in an attempt to target New Delhi for purchasing Russian crude oil.
On July 18, the EU lowered the price cap on Russian oil from $60 per barrel (bbl) to $47.6/bbl while imposing direct sanctions on Rosneft-backed Nayara refinery in Gujarat.
Indian oil refiners, including state-run Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL), and Bharat Petroleum Corporation (BPCL), have confirmed to continue purchasing crude oil from Moscow.
Major private refiners importing Russian crude oil are Reliance Industries Limited (RIL), and Nayara Energy.
Meanwhile, India’s crude oil imports from traditional suppliers, including Saudi Arabia and Iraq, have remained robust in September so far at 605,000 bpd and 786,000 bpd, respectively, Kpler data showed.
India’s oil imports from Saudi and Iraq in August came in at 634,000 bpd and 730,000 bpd, respectively. In an effort to shield the country from geopolitical shocks, the Indian government has been looking to diversify its crude import basket.
New Delhi’s crude oil imports from the United Arab of Emirates (UAE) have climbed to 532,000 bpd in September, significantly higher than 444,000 in January 2025. India’s crude oil imports from UAE came in at 615,000 bpd in August. Meanwhile, India’s oil imports from the US stand at 220,000 bpd until September 23.
India is a net importer of crude oil, depending on imports for over 85 per cent of its domestic requirements. Rest around 25 per cent of the demand is met by domestic production.
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