+
Reliance Eyes Diversifying Oil Amid EU Sanctions
OIL & GAS

Reliance Eyes Diversifying Oil Amid EU Sanctions

India’s Reliance Industries Ltd. is facing fresh scrutiny over its oil procurement strategy following new European Union restrictions on diesel produced from Russian crude. The private refiner, owned by billionaire Mukesh Ambani, made a rare purchase of Abu Dhabi’s premium Murban crude late last week, just after the EU’s latest sanctions package was announced. Traders noted that Reliance typically avoids the costlier UAE grade, favouring discounted Russian Urals and heavier Middle Eastern varieties.
According to sources familiar with the matter, Reliance has begun exploring alternative crude sources beyond Russia, which has been its largest oil supplier this year. The individuals, who requested anonymity due to the sensitivity of the matter, said the company appears to be gradually adjusting its procurement mix in response to evolving geopolitical risks.
Ship-tracking data from Kpler shows that Russian oil accounted for nearly 50 per cent of Reliance’s crude imports so far in 2025, while about 20 per cent of its refined fuel exports were shipped to Europe. The EU’s new restrictions, effective from 21 January next year, aim to curb the indirect sale of Russian-origin fuel to European markets—placing Reliance under closer regulatory observation.
Reliance, along with other Indian refiners, has been a major beneficiary of discounted Russian crude following the 2022 Ukraine conflict, which allowed Indian firms to maximise margins by exporting diesel to Western countries. However, with mounting regulatory pressure, traders believe Reliance may be testing the waters with alternatives from the Middle East, though it remains uncertain how it plans to replace up to 600,000 barrels per day of Russian crude—and at what price.
Meanwhile, India has expressed concern over the EU’s widening sanctions. Foreign Secretary Vikram Misri called for a “balanced” approach regarding secondary restrictions on Russian oil and gas trade during remarks on Tuesday.

India’s Reliance Industries Ltd. is facing fresh scrutiny over its oil procurement strategy following new European Union restrictions on diesel produced from Russian crude. The private refiner, owned by billionaire Mukesh Ambani, made a rare purchase of Abu Dhabi’s premium Murban crude late last week, just after the EU’s latest sanctions package was announced. Traders noted that Reliance typically avoids the costlier UAE grade, favouring discounted Russian Urals and heavier Middle Eastern varieties.According to sources familiar with the matter, Reliance has begun exploring alternative crude sources beyond Russia, which has been its largest oil supplier this year. The individuals, who requested anonymity due to the sensitivity of the matter, said the company appears to be gradually adjusting its procurement mix in response to evolving geopolitical risks.Ship-tracking data from Kpler shows that Russian oil accounted for nearly 50 per cent of Reliance’s crude imports so far in 2025, while about 20 per cent of its refined fuel exports were shipped to Europe. The EU’s new restrictions, effective from 21 January next year, aim to curb the indirect sale of Russian-origin fuel to European markets—placing Reliance under closer regulatory observation.Reliance, along with other Indian refiners, has been a major beneficiary of discounted Russian crude following the 2022 Ukraine conflict, which allowed Indian firms to maximise margins by exporting diesel to Western countries. However, with mounting regulatory pressure, traders believe Reliance may be testing the waters with alternatives from the Middle East, though it remains uncertain how it plans to replace up to 600,000 barrels per day of Russian crude—and at what price.Meanwhile, India has expressed concern over the EU’s widening sanctions. Foreign Secretary Vikram Misri called for a “balanced” approach regarding secondary restrictions on Russian oil and gas trade during remarks on Tuesday. 

Next Story
Resources

Pankaja Munde Lauds CREDAI-MCHI for Tree Plantation in Beed

CREDAI-MCHI has received a second letter of appreciation from Smt. Pankaja Gopinath Munde, Maharashtra’s Minister of Environment & Climate Change, for planting 2,000 tree saplings at Bhagvan Bhaktigad, Sawargaon Ghat in Patoda, Beed. The initiative aligns with the state’s Green Maharashtra Mission and Van Mahotsav drive. In her letter, the Minister commended CREDAI-MCHI’s environmental contribution as a step towards long-term ecological balance and climate resilience. Domnic Romell, President, CREDAI-MCHI, said: “We are deeply honoured to receive this recognition... The p..

Next Story
Technology

Rodic Launches Advisory Arm for Data-Driven Governance Reform

Rodic Consultants has announced the launch of Rodic Advisory & Technology, a strategic new vertical aimed at strengthening data-led governance, institutional reform, and infrastructure strategy. The move marks a key milestone in the company’s evolution from engineering consultancy to governance enabler. Positioned as a dedicated public sector think tank, the vertical will partner with government bodies, multilateral institutions, and public agencies to deliver advisory services rooted in real-time operational data, engineering intelligence, and implementation expertise. Service..

Next Story
Infrastructure Urban

IndoSpace Launches Largest Industrial Park in Pune Region

IndoSpace, India’s leading supply chain infrastructure platform, has launched IndoSpace Chakan V, its largest industrial and logistics park in the country. Spread across 188 acres in MIDC Chakan near Pune, the project involves an investment of USD 120 million and marks the company’s eighth park in the region, bringing IndoSpace’s Pune footprint to 525 acres. Strategically located along major highways—including the Mumbai-Pune Expressway, Pune-Nashik Highway, and Bengaluru-Mumbai Industrial Corridor—the park ensures seamless connectivity to key industrial hubs and ports across we..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?