Indian refineries shift from Russian oil to an alliance with the U.S., Saudi Arabia, and the UAE
Indian oil refineries are changing their purchasing strategies, moving away from Russian oil amidst anti-Russian sanctions and negotiations with the United States, Saudi Arabia, and the United Arab Emirates.
According to Bloomberg, five leading Indian refineries, including Reliance Industries and Hindustan Petroleum, have declined Russian oil purchases this month. Instead, deals have been signed to increase purchases from the U.S., Saudi Arabia, and the UAE. This move became possible following the imposition of Western sanctions against Russian oil and gas giants such as Rosneft and Lukoil.
According to Kpler, the listed refineries previously provided two-thirds of Russian oil imports to India in 2025. Currently, only Indian Oil Corp. and Nayara Energy Ltd. plan to purchase Russian oil in December. Indian Oil acquired 3.5 million barrels of ESPO oil from suppliers not subject to sanctions. Nayara Energy, partially owned by Rosneft, remains committed to Russian supplies.
Amid changes in procurement policy, top managers of Indian refineries held meetings with representatives of Saudi Aramco and Abu Dhabi National Oil during an energy conference in Abu Dhabi. These negotiations may indicate new partnerships with Middle Eastern countries, which together produce a significant portion of the world’s oil output — over 13 million barrels per day.
| Company | Russia | USA | Saudi Arabia | UAE |
|---|---|---|---|---|
| Reliance Industries Ltd. | – | + | + | + |
| Hindustan Petroleum Corp. Ltd. | – | + | + | + |
| Indian Oil Corp. | + | + | – | – |
| Nayara Energy Ltd. | + | – | – | – |
| Bharat Petroleum Corp. Ltd. | – | + | + | + |
