Reliance Industries Boosts Russian Oil Imports Amid Refinery Adjustments

Reliance Industries has reported a 17.3 percent increase in Russian crude oil imports for March, reaching 532,700 barrels per day compared to February. This surge comes as the company prepares for a maintenance shutdown at one of its refineries, leading to an overall decline in crude imports by 19 percent to 1.1 million barrels per day.  

Russian crude now accounts for 48.5 percent of Reliance’s total oil imports, reflecting the company’s strategic focus on leveraging discounted supplies amid geopolitical tensions. The increase is part of a long-term agreement with Russia’s state oil firm Rosneft, which supplies nearly 500,000 barrels per day under the largest energy deal between the two nations.  

India, the world’s third-largest oil importer, has been diversifying its crude sources to mitigate the impact of rising costs from traditional suppliers. Russian oil has become a key component of this strategy, offering competitive pricing and stable supply chains.  

Energy Market Insights:  
- Reliance Industries imported 532,700 barrels per day of Russian crude in March, up 17.3 percent from February.  
- Russian oil now constitutes 48.5 percent of Reliance’s total imports.  
- India continues to diversify crude sources, tapping discounted supplies from Russia.  

Sources: Economic Times, Reuters.