2026-03-05 07:55:00
RUSSIAN OIL FOR INDIA UP
REUTERS - March 5, 2026 - March 5 (Reuters) - Refiners in India have started tapping Russian oil aboard vessels floating off the country's coast to make up for the loss of Middle Eastern crude due to the Iran war, two sources with direct knowledge of the matter said on Thursday.
India is vulnerable to energy supply shocks, with crude stocks covering only about 25 days of demand.
India was the top buyer of Russian seaborne crude after Moscow's 2022 Ukraine invasion, but in January its refiners started to reduce purchases, helping New Delhi avoid 25% tariffs imposed by Washington and clinch an interim trade deal.
On Thursday, the Suezmax tanker Odune carrying about a million barrels of Russian oil berthed at eastern Paradip port for delivery to state refiner Indian Oil Corp (IOC.NS), opens new tab, according to a shipping source. The vessel had been floating in Indian waters, the person said.
IOC is also scheduled to receive about 700,000 barrels of Russian oil loaded on the Spring Fortune at Vadinar port in western India on Saturday, the source said.
A source at Indian Oil said his company is expediting purchases of Russian oil, including that loaded on vessels floating around India.
Indian Oil did not immediately respond to a request for comment.
About 9.5 million barrels of Russian crude is floating near Indian waters and able to arrive within weeks, an industry source with direct knowledge of Russian trade told Reuters.
A source at another Indian refiner said his firm was also considering buying Russian oil floating near India.
"Should Middle Eastern inflows tighten, Indian refiners could pivot back toward Russian grades relatively quickly," said Sumit Ritolia, analyst at ship-tracking firm Kpler.
Kpler tracking shows about 30 million barrels of Russian oil available and loaded on vessels in the Indian Ocean, Arabian Sea region and Singapore Strait, including volumes in floating storage, he said.
"Some of these vessels have not yet declared their destination ... If Indian refiners won't act, all these can start moving to China in a day or two," Ritolia said.
-----
Earlier:
2026, March, 3, 07:35:00
INDIA NEED RUSSIAN OIL
India became the single most important buyer of Moscow’s seaborne crude after the invasion of Ukraine, but the country has been cutting back in response to US pressure — particularly after a US trade deal struck last month that rolled back punitive tariffs.
2026, February, 27, 07:50:00
INDIA WITHOUT RUSSIAN OIL
Millions of barrels of Russian oil stored on tankers at sea could still provide Indian refiners with a quick and cheap solution, provided they get the nod from New Delhi.
2026, February, 5, 07:45:00
RUSSIAN OIL FOR INDIA
Indian stocks and the rupee rallied on Trump’s remarks on Tuesday, but halting Russian oil purchases in particular would be a major concession for the Modi government, which has repeatedly insisted that buying crude wherever it wants is a matter of “strategic autonomy”.
2025, November, 19, 06:55:00
RUSSIAN NUCLEAR FOR INDIA
India has a target to expand its nuclear energy capacity to 100 GW by 2047. It plans to achieve this by a two-pronged approach, with the deployment of large-capacity reactors as well as small modular reactors (SMRs).
2025, October, 31, 06:40:00
INDIA NEED RUSSIAN OIL
Together, the four sanctioned firms accounted for more than 80% of India’s Russian oil imports in 2024,
2025, August, 21, 06:45:00
RUSSIAN OIL FOR INDIA UP
The refiner, part-owned by Russian oil major Rosneft PJSC, is an important pillar of the Indian market. Its 400,000 barrels-a-day processing plant accounts for 8% of the country’s refining, and the company operates 7% of its fuel stations.
2025, August, 7, 06:50:00
RUSSIAN OIL FOR INDIA: SANCTIONS
Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty.
2025, August, 5, 06:35:00
RUSSIAN OIL FOR INDIA
Oil traders and shipping companies have been waiting for direction from New Delhi on whether supplies from Moscow will be allowed to continue after US President Donald Trump last week threatened punitive action to curb trade with Russia.