Latest News, Updates & Breaking Headlines
NEW DELHI: India imported crude worth $2.7 billion from Russia in Dec 2025, the lowest monthly import from the country since Feb last year, reflecting the impact of the US imposing sanctions on Russian oil majors Rosneft and Lukoil — two major contributors to oil exports to India.The US had announced sanctions on the two…
NEW DELHI: The Russian foreign ministry reiterated on Wednesday that Moscow had no reason to believe India is doing a rethink on its oil purchase from Russia, while also asserting that it’s ready to carry forward close cooperation with India in the energy sector.“We are convinced that India’s purchase of Russian hydrocarbons is mutually beneficial…
India can save almost $3 billion just by stepping up its crude import game! A recent report by SBI stated that by replacing a portion of Russian supplies with Venezuelan heavy crude and updating its import strategy, India can get several cost advantages. The assessment notes that New Delhi could lock in notable savings by…
NEW DELHI: The India-US trade deal is unlikely to lead to a near-term reduction in India’s imports of Russian crude oil, with supplies to be stopped from sanctioned entities such as Rosneft and Lukoil.While govt is yet to comment on US President Donald Trump’s claim that India will stop Russian crude purchases, officials pointed out…
US President Donald Trump on Sunday said India is set to begin purchasing Venezuelan oil. Venezuela controls the world’s largest oil reserves and has reformed laws to open the sector up to private investment, following the US capture of President Nicolas Maduro on January 3. Trump’s comments come after months of trade tensions between India…
India has transformed its crude sourcing strategy, reducing Russian crude barrels while increasing its Middle Eastern shipments. Though Moscow still has a share in New Delhi’s oil inflows, the volumes are down due to compliance risks. Data from analytics firm Kpler shows that in the first three weeks of January 2026, the country imported about…
Indian Oil Corporation (IOC), the country’s largest refiner, has purchased around 7 million barrels of crude oil for March loading, including supplies from Brazil’s Petrobras, as refiners continue to scale down dependence on Russian oil and diversify sourcing toward other regions, Reuters reported citing trade sources.The purchases come amid a broader recalibration by refiners to…
India crude oil imports (AI image) With supply of Russian crude hit due to US President Donald Trump’s sanctions, Indian refiners are looking at other sources of oil to fill the gap. Refiners are swiftly reshaping their crude sourcing strategy to offset reduced availability of Russian oil affected by US sanctions.While a more complete assessment…
India crude oil imports (AI image) With supply of Russian crude hit due to US President Donald Trump’s sanctions, Indian refiners are looking at other sources of oil to fill the gap. Refiners are swiftly reshaping their crude sourcing strategy to offset reduced availability of Russian oil affected by US sanctions.While a more complete assessment…
Indian Oil Corporation Ltd (IOCL) said that the country’s refineries are capable of processing Venezuelan crude if supplies resume. “If at all things start settling down, if at all a lot of crude starts coming out of Venezuela, then can’t we import oil from Venezuela?” he said.The executive further added that the company, used to…
