Page 7 - India Oil Imports

India's oil PSUs ink landmark US LPG deal covering 10% of 2026 imports

India has signed its first structured deal to buy 2.2 million tonnes of LPG from the US in 2026, a move the government says will boost supply security

India spent 2.5 bn euros on Russian oil in Oct ahead of sanctions: Report

India, the second biggest buyer of Russian oil, spent as much as 2.5 billion euros on purchases of crude oil from Moscow in October ahead of new sanctions being slapped on Russian entities, a European think tank said. India's spend in October was unchanged from 2.5 billion euro spent on buying Russian oil in September. India remained the second-largest buyer of Russian fossil fuels in October behind China, according to the Centre for Research on Energy and Clean Air (CREA). On October 22, US imposed sanctions on Rosneft and Lukoil, two of the largest oil producers in Russia, to cut off Kremlin's resources for funding Ukraine war. The sanctions have resulted in companies like Reliance Industries, HPCL-Mittal Energy Ltd and Mangalore Refinery and Petrochemicals Ltd halting imports for now. Russia shipped 60 million barrels of crude oil in October, with Rosneft and Lukoil together accounting for 45 million barrels. "India remained the second-largest buyer of Russian fossil fuels, ...

India cuts Russian crude oil buys for December amid Trump tariffs

India's reduced Russian oil orders come after the US raised tariffs on Indian imports to 50% and imposed sanctions on Russian oil giants Rosneft and Lukoil

Oil tanker with cargo from curb-hit Rosneft idles off Mumbai coast

The oil market has zeroed in on Russia's export patterns, as well as Indian purchasing, after the US sanctioned Rosneft and Lukoil PJSC on October 22

Indian refiners set the stage for lower Russia crude oil purchase

Indian processors, the top buyers of seaborne oil from Moscow, have been weighing up their options since US authorities blacklisted two of Russia's largest producers, Rosneft PJSC and Lukoil PJSC

India's HPCL-Mittal Energy stops buying Russian crude oil amid sanctions

Last week, the US and Europe imposed a raft of fresh sanctions on Russian oil, with Washington targetting the country's top oil producers Lukoil and Rosneft

Indian firms won't buy Rosneft or Lukoil crude via traders, says report

It is difficult to predict when Indian companies will place new orders for Russian oil, added the source, who declined to be named due to the sensitivity of the matter

India boosts US crude oil imports to 540,000 bpd, highest since 2022

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

Russian oil import: Indian Oil says will abide by all applicable sanctions

Indian Oil Corporation (IOC), the nation's biggest oil company, will comply with all applicable sanctions, Chairman Arvinder Singh Sahney said on Monday, steering clear of remarks on purchases from Russia. Indian refiners are likely to scale back on the import of Russian oil to avoid secondary sanctions on shipping and banking after the US imposed fresh sanctions with a view to curbing Moscow's earnings from oil sales. "We will abide by all sanctions imposed by the international community," he said. He, however, refused to comment on the IOC's purchases of Russian oil. Russian oil made up for 21 per cent of the crude oil IOC imports during April-September. IOC's subsidiary Chennai Petroleum Corporation Ltd (CPCL) has halved Russian oil imports this month, coinciding with the fresh sanctions the US imposed on Russian oil. US President Donald Trump, late October 22, imposed sanctions on Russia's Rosneft and Lukoil, in a bid to pressure Moscow into ending its war on Ukraine. A day l

India's crude oil imports rise 1.7% to three-month high in September

On a yearly basis, crude oil imports rose 6.1%, from 18.79 million tons in September 2024, data from the Petroleum Planning and Analysis Cell shows

RIL says it will comply with US, UK, EU sanctions on Russian oil imports

The oil refining giant said that it is assessing the implications of restrictions and sanctions by the EU, the UK and the US on crude oil imports from Russia

US sanctions on Russian oil to hit Reliance; PSUs may keep buying

US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now. Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net). Billionaire Mukesh Ambani's Reliance Industries Ltd - India's largest buyer of Russian crude, accounting for roughly half of the country's 1.7 million barrels per day of imports from Moscow - may however have to recalibrate its imports as it buys crude oil directly from Russia's Rosneft, they said. Reliance had in December 2024 signed a term deal with Russia's Rosneft - now sanctioned - to import as much as 500,000 barrels per day of Russian oil for 25 years. It also buys oil from intermediaries. The company did not immediately respond to

Recalibrating Russian oil imports, will fully comply with guidelines: RIL

Reliance, which operates the world's largest refining complex at Jamnagar in Gujarat, has a long-term deal to buy nearly 500,000 bpd of crude oil from Russian major Rosneft

India's Russian oil imports may dry up as US sanctions hit Rosneft, Lukoil

Latest sanctions will mean that orders due to be placed over the coming week - for crude that will load in November and deliver in December - will now be overwhelmingly from other destinations

India to cut Russian oil imports by year-end: Trump after new sanctions

US President Donald Trump said India will sharply reduce Russian oil imports by the end of the year, following new US sanctions on Moscow's major oil firms

'Thank you for your call, warm Diwali greetings': PM Modi after Trump call

PM Modi responded to President Donald Trump's Diwali wishes, saying India and the US share strong democratic values and should continue working together for peace and against terrorism

'India won't be buying Russian oil anymore': Trump reiterates claim

Earlier this week, Trump claimed that PM Modi assured him that India would stop buying oil from Russia, a move he described as "a big step" in Washington's efforts to isolate Moscow

Our cooperation in line with India's national interest, says Russian envoy

Alipov's comments came shortly after the remarks by MEA spokesperson Randhir Jaiswal, who emphasised that India's energy policies are shaped entirely by the need to protect consumer interests

Russian oil imports in Apr-Sep fell 8.4% on tighter supplies, discounts

September's volume was flat versus August at 1.6 million bpd, down 14.2 per cent from the same month a year ago, the data showed

Indian refiners likely to import more Russian oil as discounts deepen

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