IOC has been constantly shopping for sanctions-compliant Russian oil cargoes after Washington imposed sanctions on high Russian oil producers Rosneft and Lukoil in October.
| Picture Credit score:
Dado Ruvic
State refiners Indian Oil Corp and Bharat Petroleum Corp have positioned January orders for the loading of Russian oil from non-sanctioned suppliers attributable to widening reductions, commerce sources with information of the matter stated.
BPCL has purchased 4 cargoes, two every of Russian Urals and CPC, they stated, including that Urals have been offered at a reduction of $6-$7 per barrel to the dated Brent.
India’s high refiner, IOC, has additionally purchased some cargoes of Russian oil for January loading, they stated.
IOC has been constantly shopping for sanctions-compliant Russian oil cargoes after Washington imposed sanctions on high Russian oil producers Rosneft and Lukoil in October. Nevertheless, BPCL skipped the purchases of December-loading of Russian oil.
Nearly all of the oil provided by the Caspian Pipeline Consortium (CPC) system is from Kazakhstan. Russia additionally sells some oil by CPC.
BPCL and IOC didn’t instantly reply to a request for remark.
Different state refiners, Mangalore Refinery and Petrochemicals Ltd, Hindustan Petroleum Corp and personal firm HPCL-Mittal Vitality Ltd, have stopped shopping for Russian oil.
Nayara Vitality, partly owned by Rosneft, is solely processing Russian oil after different suppliers pulled again following British and EU sanctions.
Reliance Industries Ltd, operator of the world’s greatest refining advanced, has stated it’s going to course of any parcel arriving after November 20 beneath its cope with Roneft at its Indian market-focussed refinery.
Printed on December 5, 2025
