Indian refiners, responsible for half of Russian crude imports, have halted purchases due to US sanctions on major Russian producers and secondary sanctions risks for smaller entities.
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State-run refiner Indian Oil has invited initial bids for 24 million barrels of oil from the Americas for the January to March quarter in 2026, according to a document reviewed by Reuters on Thursday.
India's Hindustan Petroleum issued two rare tenders to import transport fuels for early November delivery, two sources familiar with the matter said on Tuesday, after the company shut one of its processing units due to feedstock contamination.
Indian Oil Corp, the country's top refiner, will not completely discontinue buying Russian crude, a top company executive said on Tuesday.
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Brazilian state-run oil firm Petrobras reported record exports of some 814,000 barrels of oil per day in the third quarter, as production surged and 11 wells started operating, the firm said on Friday.
Reliance Industries, India’s top buyer of Russian crude, will halt its long-term import of nearly 500,000 barrels per day from Rosneft due to U.S. sanctions, potentially impacting global oil markets. The company’s massive 1.4 million bpd refining complex also sources Russian oil from the spot market.
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Indian refiners are preparing to significantly reduce Russian oil imports following US sanctions on Rosneft and Lukoil, with Reliance Industries considering a complete halt to purchases, marking a significant shift for India.
INDIA and the United States are nearing a long-stalled trade agreement that would reduce US tariffs on Indian imports to 15 per cent to 16 per cent from 50 per cent, India’s Mint reported on Wednesday citing three people aware of the matter.
Iraq and Turkmenistan signed a memorandum of understanding (MoU) on energy cooperation and gas imports during the fourth round of political consultations in Baghdad on Monday, aimed at addressing the two countries’ energy needs.
Indian company Reliance Industries is gradually increasing purchases of Middle Eastern oil and is ready to place more orders in the near future, Bloomberg reports.
U.S. President Donald Trump on Sunday warned that India will continue facing steep tariffs on its exports to the United States until it fully halts purchases of Russian oil a stance that has emerged as a key sticking point in the countries’ ongoing trade talks.
Brazil's Vice President Geraldo Alckmin invited Indian oil firms to bid in auctions for Campos and Santos basin blocks, confirmed Petrobras deal to supply 6 million crude barrels to India, strengthening bilateral energy cooperation.
The United States and European countries are increasing pressure on Asian buyers of Russian energy, which could limit India’s oil imports as early as December while making supplies cheaper for China.
Indian multi-sector infrastructure firm Megha Engineering & Infrastructures has won a contract worth $225.5 million from Kuwait Oil Company (KOC), it said on Friday.
The United States and India have held productive trade talks, and Indian refiners are already cutting Russian oil imports by 50%, a White House official told Reuters on Thursday.
President Donald Trump has said Indian Prime Minister Narendra Modi has agreed to stop buying Russian oil, as the US seeks to put economic pressure on the Kremlin as part of efforts to end the war in Ukraine.
India's foreign ministry announced the launch of an Indian-backed oil refinery in Mongolia, funded by a $1.7 billion line of credit, with a daily crude oil processing capacity.