State-run Hindustan Petroleum Corp Ltd is seeking Venezuelan crude for the first time as the refiner plans to increase heavy oil processing in the new fiscal year starting April, Chairman Vikas Kaushal said on Tuesday. Indian refiners are considering importing Venezuelan crude, which is being offered by Vitol and Trafigura under a US-mandated sale after […]
US President Donald Trump has greenlit a bipartisan Russia Sanctions Bill, which gives the United States leverage against India, China and Brazil to curb their Russian oil imports that purportedly fuels Moscow’s war in Ukraine. US President Donald Trump. The Sanctioning of Russia Act 2025 is designed to force Russia into peace negotiations in Ukraine […]
India’s Russian oil imports are set to decline to the lowest in years Reliance Industries Ltd. said it’s not expecting any delivery in January. Reliance Industries was the biggest Indian buyer of Russian crude last year. (Reuters) “Reliance Industries’s Jamnagar refinery has not received any cargo of Russian oil at its refinery in the past […]
The US attack on Venezuela to dismatle the regime of President Nicolás Maduro is creating dichotomy of sorts for India—a neutral outlook for the stock market but a potential billion-dollar windfall for state-run oil producers. The US attack on Venezuela is unlikely to affect India’s stock market except oil producers, at least for the time-being. […]
The brazen and swift “capture” of Venezuelan President Nicolas Maduro by US special forces in an operation inside the Latin American country’s capital has rejigged geopolitics. And it has put the global spotlight on Venezuela’s massive natural wealth — an oil rush, if crudely stated. A flame burning natural gas is seen at a heavy-crude […]
Indian Oil Corp. Ltd. purchased its first Colombian oil under an optional supply deal with state oil company Ecopetrol, two people familiar with the matter said, as India’s top refiner seek to diversify from Russian oil imports. An Indian Oil fuel station in Bengaluru. The state-run refiner has an optional contract to buy about 12 […]
Reliance Industries Ltd. has resumed Russian oil imports, sourcing barrels from non-sanctioned suppliers and routing them to its Jamnagar refinery in Gujarat, according to people with knowledge of the matter. Reliance Industries has resumed Russian oil imports from non-sanctioned suppliers and routing them to its Jamnagar refinery. (Reuters) India’s largest refiner contracted Aframax tankers from […]
India is set to curtail its Russian oil imports to comply with new US sanctions on two top Moscow-backed producers, Reuters reported on Thursday citing sources. That potentially removes a major hurdle to the India-US trade deal that’s been in the works for months. India imported 1.7 million barrels per day of Russian crude in […]
Reliance Industries Ltd. bought middle-east crudes last week and may place more orders, in a sign that US pressure against India’s Russian oil imports may be starting to impact its procurement patterns. Reliance Industries, which operates the world’s largest refinery at Gujarat’s Jamnagar bought at least 2.5 million barrels of Middle Eastern crude oil last […]