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Kolkata: The lure of deep discounts of Russian crude has resulted in such savings for Indian refiners that a many as four of Indian major oil refiners are exploring the market for oil that are not in the purview of the American sanctions, reports have stated. However, the biggest private refiner in India, Reliance Industries has stayed away.
Recent report say tat two public sector buyers such as Indian Oil Corporation and Bharat Petroleum Corporation have purchased a total of 10 cargoes of non-sanctioned Russian crude over the past few days. This includes Urals crude. Incidentally, Urals Crude refers to Russia's primary export oil blend and is a medium-sour crude mix from Urals/Volga and Siberian fields. Another PSU which is hunting for Russian oil is Hindustan Petroleum Corporation, which is trying to source crude that will be delivered in January 2026.
Reports based on data compiled by commodity analysts Kpler have indicated that crude imports from Russia could rise to a six-month high level in December. Crude shipments from Russia could rise to 1.85 million barrels per day in December from 1.83 million barrels per days in November, show data from Kpler.
This indicates a quiet defiance of the US diktat to stop buying crude oil from Russia by Indian refiners. US president Donald Trump has been opposing Indian purchases of crude oil from Russia n the pretext that it amounts to indirectly funding Moscow's aggression against Ukraine. New Delhi has publicly defended its decision to buy Russian crude on the ground that it has the right to source energy from wherever makes economic sense.
Reports also say that US sanctions against top Russian producers such as Lukoil and Rosneft is nudging Indian buyers to look elsewhere for Russian crude. Crude from Russia is mostly offloaded at Gujarat's Vadinar port. Kpler estimates about 658,000 barrels arrive every day which is significantly higher than 561,000 in November. The average for 2025 has been 431,000 bpd. Vadinar port is owned by Nayara Energy.
Though other major refiners have veered towards Russian crude again, Reliance has stayed away. Kepler data claim that it could import about 293,000 bpd from Russia in December and this could happen through its port at Sikka. This arrival is far below 552,000 bpd in November.
Reports state Russian crude is offering such discounts that they are available at $40-$45 a barrel. Indian imports totalled more than 2 million barrels per day from Russia in June when purchases peaked.
