Oil Imports

Ship carrying Iranian oil shifts course from India to China mid-voyage

A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India - where it would have marked the first such shipment in nearly seven years - to China. The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler. There is no confirmation that the destination that the ship's Automatic Identification System (AIS) transponder - a tracking system mandated on most commercial vessels - is indicating is the final and it may not change at any time during the transit. "An Iranian crude vessel 'Ping Shun' that had been en route to Vadinar, India, over the past three days has dropped India as its declared destination near arrival and is now signalling China," said Sumit Ritolia, Lead Research Analyst, Refining and Modelling at commodity market analytic .

Datanomics: Ethanol push gains ground; dependence on oil imports persists

India's E20 fuel rollout boosts ethanol blending, but rising fuel demand keeps crude import dependence high, raising questions on its impact on energy security

Indian refiners seek alternatives to US dollar for Russian oil payments

Transactions are being carried out by depositing Indian rupees into special overseas bank accounts held by Russian sellers which are then being converted into UAE's dirham or the Chinese yuan

Reliance buys 5 million barrels of Iranian oil after US waiver: Report

The Trump administration on Friday issued a 30-day sanctions waiver for the purchase of Iranian oil already at sea

An opportunity in a crisis: Oil import dependence needs urgent policy fix

The ongoing oil crisis risks becoming a lost opportunity unless the government outlines a clear plan to reform exploration policies and boost India's domestic crude oil output

West Asia crisis needs close monitoring and proactive steps: RBI

RBI report calls for close monitoring of West Asia conflict and proactive steps to limit spillovers, citing India's oil dependence and rising global volatility

Trump asks 'about 7' countries to join coalition to police Strait of Hormuz

President Donald Trump said Sunday that he has "demanded" that about seven countries heavily reliant on Middle East oil join a coalition to police the Strait of Hormuz. About one-fifth the world's traded oil flows through the waterway. Trump spoke while answering reporters' questions as he flew back to Washington from Florida aboard Air Force One. The president declined to name the countries he the administration is negotiating with for protection for the strait. "I'm demanding that these countries come in and protect their own territory, because it is their own territory," Trump said about the strait, claiming the vital shipping channel is not something the United States needs because of its own access to oil. U.S. President Donald Trump's appeal to China, France, Japan, South Korea, Britain and others to send warships to keep the Strait of Hormuz "open and safe" brought no commitments on Sunday as oil prices soar during the Iran war. Iran's Foreign Minister Abbas Araghchi told

India stares at steep rise in oil import bill amid West Asia conflict

India's net oil import bill could rise by $56-64 billion annually assuming global crude averages $110-115 per barrel in FY27

US gives nod for sale of more Russian oil already at sea amid Iran war

The measure, which applies only to oil loaded before March 12, expands upon a month-long waiver given to India last week, which was intended for crude loaded on ships before March 5

US waiver unlocks Lukoil, Rosneft crude oil for India amid West Asia crisis

India is exploring alternative LNG and LPG supplies to bypass the Strait of Hormuz as officials clarify that the US sanctions waiver covers Rosneft and Lukoil crude stranded at sea

US may 'unsanction' more Russian oil after allowing India to buy: Bessent

US Treasury allows India to buy Russian oil already en route, signalling possible easing of sanctions on other Russian oil to address global supply gaps, says Scott Bessent

Indian refiners seek legal clarity on buying Russian oil under US waiver

The US on Thursday allowed Indian refiners a 30-day waiver from sanctions to buy Russian oil loaded on vessels as of March 5. Approval related to Russia's oil sale to India is valid until April 4

US licences for India's Venezuelan oil purchases mask ground realities

While GL 46A allows financing activities related to transactions, alongside are sanctions on dealings with Venezuelan state oil company PdVSA

India rebalances crude slate as Saudi gains, Russian flows ease

India's crude import strategy is entering a phase of calibrated rebalancing rather than abrupt realignment, with Middle Eastern suppliers led by Saudi Arabia regaining market share even as Russian volumes remain significant but increasingly shaped by geopolitics and compliance constraints, according to shipping data and analysts. During February 1-18, India's total crude imports averaged 4.85 million barrels per day (bpd), down 8 per cent from January's 5.25 million bpd, as flows from Russia cooled following US sanctions on key Russian exporters and the European Union's 18th sanctions package coming into effect last month. Ship tracking data showed Russian shipments to India declining from 1.28 million bpd in December 2025 to 1.22 million bpd in January and further to around 1.09 million bpd in early February, down about 10 per cent month-on-month. "Russian crude imports into India are estimated at around 1.0-1.2 million bpd in February, easing toward roughly 800,000 bpd to 1 millio

Saudi crude imports rise, narrowing Russia's lead in India's oil market

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

Reliance Industries gets US licence to directly buy Venezuela crude oil

India's largest private refiner gets US general licence to purchase Venezuelan crude directly, potentially diversifying its crude slate and resuming imports after previous sanctions eased

US inquiring about alleged Iranian oil imports, says Adani Enterprises

The inquiry adds to ongoing scrutiny of the conglomerate, including a US bribery probe in which the group's chairman has been indicted

Indian Oil, HPCL buy 2 million barrels Venezuelan oil from Trafigura

New ‌Delhi has not officially announced plans to halt Russian oil imports

India-US trade deal: India's economic moves come with strategic strings

Pax Silica and import commitments highlight opportunities and risks

Record discounts on Russian oil to China aim to lure demand as India wavers

Discounts for ESPO Blend, delivered from the Pacific port of Kozmino to China, widened to nearly $9 a barrel to ICE Brent this week, from $7-$8 in recent months