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US crude oil imports to India surged due to economic factors, including a favourable arbitrage opportunity. (AI image) NEW DELHI: India’s oil imports from the US has risen to their highest level since 2022 in October, underlining bargain hunting by Indian refiners rather than a structural shift amid Washington’s onslaught against New Delhi over purchase…
US crude oil imports to India surged due to economic factors, including a favourable arbitrage opportunity. (AI image) In a move that is possibly aimed at reducing trade issues with the Donald Trump administration, India has stepped up its crude oil imports from the US substantially. Crude imports in the month of October have hit…
NEW DELHI: Reliance Industries on Friday said that it is adapting its refinery operations to meet the US sanction on Rosneft and Lukoil – the largest exporters of Russian crude. However, Washington’s latest offensive will not pinch fuel consumers for now as state-run refiner-retailers will absorb the impact of finding replacement supplies at market rates…
RIL responds to US, EU sanctions on Russian crude NEW DELHI: Reliance Industries Ltd (RIL) on Friday said it is assessing the impact of the latest sanctions imposed by the United States and the European Union on Russian oil companies.In an official statement, a company spokesperson said RIL will comply with guidelines on the import…
Trump sanctions to hit India: Indian refiners are preparing to scale up crude oil purchases from the Middle East, Latin America, and the United States to compensate for reduced imports from Russia, analysts told news agency PTI.This comes after the US government on Wednesday imposed fresh US sanctions on two of Moscow’s biggest producers, Rosneft…
RIL, which has been the largest importer of Russian oil by volume in this year, has bought millions of barrels of crude from the US and Middle East . (AI image) In what is being seen as a direct impact of Donald Trump’s sanctions on two major Russian oil firms, Reliance Industries Ltd (RIL)…
India’s crude oil import costs have become increasingly expensive in the current financial year as the share of Russian crude in the country’s oil basket declines, a new report by Kotak Institutional Equities showed.It explained that alternative suppliers might be more expensive due to which premiums will remain elevated, impacting GRMs for refiners.The brokerage highlighted…
As global sanctions, including the latest ones from the Trump administration against Moscow intensify, many Indian refiners are evaluating their Russian oil trade documents.Reliance Industries Ltd, top Indian buyer of Russian crude, is also in the process of “recalibrating” imports from Russia to remain consistent with government guidance.“Recalibration of Russian oil imports is ongoing and…
Indian refiners anticipate a significant decline in Russian oil imports, potentially even reaching zero. (AI image) The Donald Trump administration’s latest move to sanction major Russian oil firms Rosneft PJSC and Lukoil PJSC will likely make it almost impossible for India to continue procuring crude from Russia. Analytics firm Kpler reports that Russian oil made…
Oil prices rose sharply on Wednesday, triggered by America’s fresh sanctions on Russian oil companies.Brent crude futures jumped $3.03, or 4.94%, to $64.35 a barrel, while US West Texas Intermediate (WTI) crude added $1.42, or 2.43%, to $59.92 after the settlement at 6 PM EDT (2200 GMT). Earlier, Brent had settled $1.27 higher at $62.59…
