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. 

Related Stories

Gold Stories

Next Story
Equipment

BEML Wins GeM Award for Highest MSE Order Value

BEML Limited has received the “Maximum Order Value to MSEs” award at the 10th Foundation Day celebrations of the Government e-Marketplace (GeM) held at Bharat Mandapam, New Delhi.Union Minister of Commerce and Industry Piyush Goyal presented the award, which was received on behalf of BEML by Anil Jerath, Director (Finance).The recognition acknowledges BEML's efforts to strengthen procurement from Micro and Small Enterprises (MSEs) through the GeM platform.BEML said its procurement initiatives are aimed at encouraging greater participation of MSEs in public procurement and supporting the gr..

Next Story
Equipment

BKT to Showcase Advanced Off-Highway Tyres at Bauma ConExpo

Balkrishna Industries Ltd (BKT) will showcase its latest off-highway tyre solutions at Bauma ConExpo India 2026, scheduled from September 15-18 at the India Expo Centre, Greater Noida.The company will display a range of application-specific tyres for construction, mining and industrial operations at Hall 12, Booth No. 1. Key products will include the EARTHMAX SR 30 for loaders and articulated dump trucks and the AIROMAX AM 27 for mobile cranes.BKT will also showcase MINE FORCE, EARTHMAX EXPERTO GD1, XL GRIP NEO, DYNA HAUL, CONSTEER and EARTHMAX SR423. The tyres are designed to operate under he..

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement