Archive · 6 Dec 2025
Indian refiners buy Russian oil amid discounts
Some big Indian companies that make oil products, like Indian Oil and Bharat Petroleum, have bought Russian oil for January.
They are doing this because Russian oil is cheaper now.
The oil they bought is from places that aren't under sanctions, like Kazakhstan.
Other companies have stopped buying Russian oil because of rules from other countries.
One company, Nayara Energy, which is partly owned by a Russian company, is only using Russian oil.
Another big company, Reliance Industries, said they will use Russian oil that arrives after November 20.
The Indian companies didn't say anything when asked about this.
Indian Oil Corp and Bharat Petroleum Corp have ordered Russian oil for January loading due to discounts.
BPCL bought four cargoes of Russian Urals and CPC, sold at a $6-$7 discount per barrel to dated Brent.
IOC has been buying sanctions-compliant Russian oil cargoes consistently.
Other state refiners have stopped buying Russian oil, except Nayara Energy which is exclusively processing Russian oil.
Reliance Industries will process Russian oil arriving after November 20 under its deal with Rosneft.
- Who
- Indian Oil Corp, Bharat Petroleum Corp, Nayara Energy, Reliance Industries Ltd
- What
- Purchasing Russian oil due to widening discounts
- When
- January loading, after Washington imposed sanctions in October
- Where
- India
- Why
- Widening discounts on Russian oil, sanctions-compliant purchases
- Companies Involved
- Indian Oil Corp, Bharat Petroleum Corp, Nayara Energy, Reliance Industries Ltd
- Oil Types Purchased
- Russian Urals, CPC
- Sanctions
- Washington imposed sanctions on Rosneft and Lukoil in October
- Caspian Pipeline Consortium (CPC)
- Majority of oil from Kazakhstan, some from Russia
- Other Refiners' Actions
- Mangalore Refinery, Hindustan Petroleum, HPCL-Mittal Energy stopped buying Russian oil
- Reliance Industries' Stance
- Will process any parcel arriving after November 20 under deal with Rosneft
