Russia Says India’s Oil Imports Dip Will Be Brief
OIL & GAS

Russia Says India’s Oil Imports Dip Will Be Brief

India’s imports of Russian oil may fall only for “a brief period” as Moscow plans to increase supplies using advanced methods to offset Western sanctions, Kremlin spokesperson Dmitry Peskov said on Tuesday.

His comments come ahead of President Vladimir Putin’s two-day visit to New Delhi from Thursday, as Russia seeks to reinforce defence and energy ties. India, Russia’s largest buyer of seaborne crude, is expected to reduce imports this month to their lowest level in at least three years amid tightening US sanctions on key Russian producers, including Rosneft and Lukoil.

“There can be, for a very brief period of time, insignificant decreases in the volume of oil trade,” Peskov told Indian journalists during a video interaction organised by Russia’s Sputnik news agency. He stressed that Russia remains India’s top oil supplier and has long experience operating under what he described as “illegal sanctions”.

Peskov said Moscow is working to create the “necessary environment” for buyers seeking Russian oil and will continue to refine its technological solutions to mitigate the impact of sanctions. He added that trade between the two nations must be protected from pressure by third countries, with payment mechanisms set to feature prominently in talks between the leaders.

Several Indian refiners — including Mangalore Refinery and Petrochemicals Ltd, Hindustan Petroleum Corp and HPCL-Mittal Energy Ltd — have halted purchases of Russian crude. State-run Indian Oil Corp has placed orders from non-sanctioned suppliers, while Bharat Petroleum Corp is in advanced negotiations for imports.

Nayara Energy, partly owned by Rosneft, continues to process only Russian oil after other suppliers withdrew due to UK and EU sanctions. Russia is urging India to support Nayara to maintain local sales and operational capacity.

Reliance Industries Ltd, previously Russia’s biggest Indian customer, has said it loaded Russian cargoes “precommitted” by 22 October and will refine any arriving after 20 November at its domestic-focused facility.

India’s imports of Russian oil may fall only for “a brief period” as Moscow plans to increase supplies using advanced methods to offset Western sanctions, Kremlin spokesperson Dmitry Peskov said on Tuesday. His comments come ahead of President Vladimir Putin’s two-day visit to New Delhi from Thursday, as Russia seeks to reinforce defence and energy ties. India, Russia’s largest buyer of seaborne crude, is expected to reduce imports this month to their lowest level in at least three years amid tightening US sanctions on key Russian producers, including Rosneft and Lukoil. “There can be, for a very brief period of time, insignificant decreases in the volume of oil trade,” Peskov told Indian journalists during a video interaction organised by Russia’s Sputnik news agency. He stressed that Russia remains India’s top oil supplier and has long experience operating under what he described as “illegal sanctions”. Peskov said Moscow is working to create the “necessary environment” for buyers seeking Russian oil and will continue to refine its technological solutions to mitigate the impact of sanctions. He added that trade between the two nations must be protected from pressure by third countries, with payment mechanisms set to feature prominently in talks between the leaders. Several Indian refiners — including Mangalore Refinery and Petrochemicals Ltd, Hindustan Petroleum Corp and HPCL-Mittal Energy Ltd — have halted purchases of Russian crude. State-run Indian Oil Corp has placed orders from non-sanctioned suppliers, while Bharat Petroleum Corp is in advanced negotiations for imports. Nayara Energy, partly owned by Rosneft, continues to process only Russian oil after other suppliers withdrew due to UK and EU sanctions. Russia is urging India to support Nayara to maintain local sales and operational capacity. Reliance Industries Ltd, previously Russia’s biggest Indian customer, has said it loaded Russian cargoes “precommitted” by 22 October and will refine any arriving after 20 November at its domestic-focused facility.

Next Story
Real Estate

BXB Estates Sets AED 110 Million Jumeirah Golf Estates Record

BXB Estates has completed an AED 110 million residential transaction at Jumeirah Golf Estates, setting a new sales record for the prestigious Dubai residential community.Negotiated by Alfie Tabrez, Managing Partner of BXB Estates, the deal surpassed the previous record of AED 58 million for a completed ready villa in the development.The six-bedroom residence offers 21,714 sq ft of built-up space on a 15,873-sq-ft plot. It features nine bathrooms, four living lounges, a home office, bar lounge, private cinema and rooftop terrace.The property also includes a dedicated wellness area comprising a ..

Next Story
Infrastructure Urban

SECR Floats Rs 6,019 Mn EPC Tender For Paradol Nagpur Link

South East Central Railway (SECR) has invited bids for an Engineering, Procurement and Construction (EPC) contract to build a new broad gauge single line between Paradol Takeoff Point and Nagpur Road Station in Chhattisgarh. The contract carries an estimated cost of Rs 6,019.0 mn and requires an earnest money deposit of Rs 120.4 mn. The work is framed as an EPC assignment intended to strengthen regional rail infrastructure. The tender, issued under number CAO-C-BSP-26-27-15, specifies a completion period of 730 days and a bid validity of 180 days. Two pre-bid meetings are scheduled for 24 Augu..

Next Story
Infrastructure Transport

Indian Railways Reports Nine Per Cent Rise In July Freight Loading

Indian Railways handled 141.3 million tonnes (141.3 mn t) of freight in July, marking a rise of nine per cent year on year. Freight loading maintained a positive trajectory across the network compared with the same month last year. Passenger traffic also increased in July, contributing to higher overall network utilisation. The July outcome continued a pattern of steady monthly gains, reflecting gradual improvement in industrial and logistics activity. The growth in freight volumes reflected stronger demand across multiple sectors and improvements in logistics and train turnarounds. Enhanced r..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement