Indian Oil and Bharat Petroleum Restart Purchases of Russian Oil

Written by Emily J. Thompson, Senior Investment Analyst

Source: Yahoo Finance

Updated: Aug 21 2025

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Source: Yahoo Finance

Resumption of Russian Oil Purchases: Indian refiners Indian Oil and Bharat Petroleum have restarted buying Russian oil for September and October, taking advantage of widening discounts on Urals crude.
Impact on China’s Oil Supply: This resumption may affect the supply dynamics to China, which had increased its Russian oil intake during the Indian refiners' previous pause in purchases.
Geopolitical Context: Despite criticism from the US regarding India's oil imports from Russia, Indian companies are prioritizing favorable economics, with Russian oil now constituting 35% of India's total imports since the Ukraine conflict began.
Strategic Diversification: Indian Oil plans to diversify its crude sources by including other Russian grades like Varandey and Siberian Light, while also noting China's recent acquisitions of Russian oil.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.