Nayara Energy, the Rosneft-backed refiner sanctioned by the EU, is in discussions with government and partners to ensure stable operations at its 20 million tonnes per annum refinery and maintain fuel supplies. The company emphasizes its commitment to meeting Indian consumer demand by supplying oil and oil products across the country.
Indian Oil continues its Russian oil imports, guided by economic factors and the absence of explicit government directives. Despite potential US penalties and ongoing Trump-Putin talks regarding Ukraine, the company maintains a steady 22% share of Russian crude in its refining process. The decision hinges on economic viability, with Russian oil currently offered at a…
Despite US tariff threats, India’s IOC continues to purchase Russian oil based on economic viability, with volumes fluctuating according to discount rates. India became Russia’s largest oil customer in 2022 as Western sanctions took hold. Refiners like IOC prioritize economic benefits, with no directives to alter purchase volumes due to US tariffs.
Bharat Petroleum Corp has awarded Glencore a tender for 10 million barrels of U.S. oil, boosting India’s energy ties with the U.S. This deal, delivering 2 million barrels of WTI Midland crude monthly, supports India’s efforts to reduce its trade surplus with the U.S. and fulfill pledges made during Prime Minister Modi’s visit to increase…
Indian state refiners, including Indian Oil Corp, have resumed exploring purchases of Russia’s Urals crude oil. This decision follows a widening of discounts, prompting renewed interest after a pause in purchases last month when discounts had narrowed. The move occurs ahead of a significant meeting between U.S. and Russian leaders, potentially influencing global oil market…
Reliance Industries, a major buyer of Russian oil, is now purchasing fuel oil from Hindustan Petroleum Corp. This shift occurs as India faces pressure from the U.S. regarding its energy relationship with Russia. Reliance bought two cargoes of fuel oil from HPCL recently. Russian fuel oil exports to India are expected to decrease this month.
Nayara Energy, grappling with EU sanctions, is resorting to ship-to-ship transfers to continue fuel exports. A gasoline shipment from Nayara was moved from the Tempest Dream to the Wu Tai off Oman’s coast. Both vessels have faced sanctions related to the Russian oil trade.