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Reliance Industries Says No Russian Oil Expected in January; No Supplies in Last Three Weeks

Reliance Industries Says No Russian Oil Expected in January; No Supplies in Last Three Weeks

Reliance Industries Ltd has clarified that it is not expecting any Russian crude oil shipments in January and that no Russian oil has been received over the past three weeks. The company dismissed reports suggesting that Russian crude was being routed to its Jamnagar refinery, calling such claims inaccurate.

The clarification came after media reports cited tanker-tracking data indicating possible deliveries of Russian oil to India. Reliance, however, stated that there are no scheduled arrivals of Russian crude for January and no recent cargo receipts from Russia.

The statement comes at a time when Russian energy exports are under increased global scrutiny due to ongoing geopolitical tensions and international sanctions. These developments have impacted global crude trade flows, including shipments to India.

Industry analysts note that Indian refiners have become more cautious in sourcing crude amid rising geopolitical risks and compliance concerns. Reliance reiterated that its crude sourcing strategy remains aligned with international regulations and commercial considerations.

Overall, the company’s clarification aims to address market speculation and reaffirm its current crude procurement position.

This news is for information only and is not investment advice. Please do your own research before making investment decisions.