Archive · 23 Jan 2026
India Adjusts Oil Imports Amid Global Shifts
India is making big changes to where it buys its oil and soybean oil.
Reliance Industries is going to start buying Russian oil again in February and March, but from sellers who aren't on the sanctions list.
They stopped for a month because of some rules, but now they're getting oil from different places.
It's not clear if they'll keep buying Russian oil after March.
Meanwhile, India is also canceling some soybean oil shipments from South America because the prices have gone up too much.
They're buying more palm oil instead because it's cheaper.
Indian Oil Corp, the biggest refiner in India, has bought 7 million barrels of oil from places like Brazil, Abu Dhabi, and Angola to replace Russian oil.
They're also buying oil from Colombia and Ecuador for the first time.
All these changes are happening because of higher global prices and new rules about where to buy oil from.
Reliance Industries to resume Russian oil imports in February and March after a one-month pause.
India cancels soybean oil shipments from South America due to high prices and a weaker rupee.
Indian Oil Corp buys 7 million barrels of oil from various suppliers to replace Russian crude.
India shifts focus to Middle Eastern and other suppliers amid global market changes.
Price disparities and sanctions influence India's oil and soybean oil import strategies.
- Who
- Reliance Industries Ltd, Indian Oil Corp, Patanjali Foods Ltd, Emami Agrotech Ltd
- What
- Adjustments in oil and soybean oil imports due to global price shifts and sanctions
- When
- February and March 2026
- Where
- India, South America, Middle East
- Why
- To secure good deals, maintain refinery operations, and adapt to global market changes
- Company
- Reliance Industries Ltd
- Refinery Capacity
- 1.4 million barrels per day (Jamnagar complex)
- Previous Supplier
- Rosneft (sanctioned Russian oil producer)
- Current Suppliers
- Non-sanctioned sellers
- Expected Delivery Months
- February and March
- EU Restriction Start Date
- January 21
- India's Position
- Top buyer of discounted Russian seaborne crude
- Vegetable Oil Imports
- 60% of edible oil consumption
- Soybean Oil Cancellations
- 50,000 tonnes
- Indian Oil Corp Purchase
- 7 million barrels
- Suppliers for IOC
- Petrobras, Shell, Mercuria, Exxon
- Oil Grades Purchased
- Murban, Upper Zakum, Hungo, Clove, Buzios
Sources
Reliance Industries to receive sanctions compliant Russian oil cargoes in February March - Telegraph India
India pulls back from soybean oil imports amid rising global prices
Indian Oil buys 7 million barrels to replace Russian crude
India de-risks crude sourcing in January as Middle East backfills softer Russian flows
