India to drastically cut Russian oil imports from November
India's top refiners plan dramatic reduction in Russian crude imports, exploring alternative suppliers amid changing global energy dynamics. Major shift expected from late November.
India's top refiners plan dramatic reduction in Russian crude imports, exploring alternative suppliers amid changing global energy dynamics. Major shift expected from late November.
India dramatically reduces direct Russian crude purchases as US sanctions tighten payment mechanisms. Major refiners shift strategy while maintaining supplies through traders.
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India's Russian oil imports dropped by 16% in December 2023 as US sanctions disrupted payment mechanisms, forcing refiners to seek alternatives from Middle East suppliers.
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India's leading refiners Indian Oil and MRPL are actively diversifying oil sources, turning to international spot markets as Russian supplies face payment and shipping challenges. Industry sources reveal strategic moves to secure alternative crude.
HPCL-Mittal Energy Ltd halts Russian crude imports due to payment complications, joining other Indian refiners facing similar challenges with Russian oil deals.
HPCL-Mittal Energy Ltd suspends Russian oil imports after US sanctions target key shipping vessels, marking significant shift in India's energy procurement strategy.
HPCL-Mittal Energy Ltd, the joint venture between steel tycoon Lakshmi Mittal and Hindustan Petroleum, suspends all Russian crude purchases citing US sanctions. The move signals growing compliance challenges for Indian refiners.
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Indian Oil Corporation declares strict adherence to all global oil sanctions in crude procurement, ensuring uninterrupted energy supply while maintaining international compliance standards.
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Indian Oil Corporation declares it will maintain Russian crude purchases despite US restrictions, planning to use non-sanctioned suppliers to secure energy needs.
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India's largest oil company confirms it will continue purchasing Russian crude despite international sanctions, prioritizing national energy security and economic benefits.
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