11.11.2025, 15:40
Most Indian factories have started avoiding oil from Russia
Source: OREANDA-NEWS
OREANDA-NEWS The five largest owners of oil refineries India did not place any orders for Russian oil supplies in December. This was reported by Bloomberg, citing sources familiar with the situation.
Reliance Industries, Bharat Petroleum, Hindustan Petroleum, Mangalore Refinery and Petrochemicals, and HPCL-Mittal Energy accounted for about two-thirds of India's total Russian oil imports this year.
Two companies, Indian Oil Corporation and Nayara Energy, retained their purchases, but the former continued to cooperate with sellers who were not sanctioned. As a rule, oil supply deals to India for the next month are concluded before the 10th of the current month. Therefore, there is little chance that the contracts will be signed yet.
India is the third largest importer of oil in the world. After the outbreak of hostilities in Ukraine, Russia redirected most of the raw materials that European countries had abandoned there.
In recent months, US President Donald Trump has increased pressure on India to stop buying Russian oil. In August, he increased duties on Indian goods to 50 percent, and in December, the United States imposed sanctions on major Russian oil companies, which transferred the threats to specific buyers of raw materials.
According to the head of the White House, he will reduce import duties against India after it reduces imports of Russian oil. Trump did not specify what values it should be brought to.
Earlier it was reported that Yanchang Petroleum, one of the largest oil and gas companies in the inner part of China, refused to buy oil in Russia. As part of the latest tender for oil supplies from December to mid-February, there are no options for the supply of raw materials from Russia, although previously the company bought an average of one batch of Far Eastern ESPO or Sokol grades every month.
Reliance Industries, Bharat Petroleum, Hindustan Petroleum, Mangalore Refinery and Petrochemicals, and HPCL-Mittal Energy accounted for about two-thirds of India's total Russian oil imports this year.
Two companies, Indian Oil Corporation and Nayara Energy, retained their purchases, but the former continued to cooperate with sellers who were not sanctioned. As a rule, oil supply deals to India for the next month are concluded before the 10th of the current month. Therefore, there is little chance that the contracts will be signed yet.
India is the third largest importer of oil in the world. After the outbreak of hostilities in Ukraine, Russia redirected most of the raw materials that European countries had abandoned there.
In recent months, US President Donald Trump has increased pressure on India to stop buying Russian oil. In August, he increased duties on Indian goods to 50 percent, and in December, the United States imposed sanctions on major Russian oil companies, which transferred the threats to specific buyers of raw materials.
According to the head of the White House, he will reduce import duties against India after it reduces imports of Russian oil. Trump did not specify what values it should be brought to.
Earlier it was reported that Yanchang Petroleum, one of the largest oil and gas companies in the inner part of China, refused to buy oil in Russia. As part of the latest tender for oil supplies from December to mid-February, there are no options for the supply of raw materials from Russia, although previously the company bought an average of one batch of Far Eastern ESPO or Sokol grades every month.
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