Indian Refiners Turn to Latin America and Africa to Replace Russian Oil
OIL & GAS

Indian Refiners Turn to Latin America and Africa to Replace Russian Oil

India's crude oil imports from Latin America and Africa increased slightly in February as refiners sought alternative sources, fearing disruptions in Russian oil supplies due to stricter US sanctions, according to trade data.

India became the largest buyer of discounted Russian oil after Western sanctions were imposed on Moscow following its 2022 invasion of Ukraine.

In February, Russian oil imports fell by 3% compared to January, amounting to about 1.54 million barrels per day (bpd), with Russia's share in India's total oil imports dropping to its lowest since January 2024.

India's oil imports from Africa rose to 330,000 bpd in February, up from 143,000 bpd in January, while imports from South America surged 60% to 453,600 bpd.

Following the imposition of sweeping US sanctions on Russian oil producers and tankers in January, disrupting supply from the world's second-largest oil producer, Russia's share of India's total oil imports declined to around 30.5%, while Latin America's share increased to 9%, the highest since December 2021.

In February, India received a rare shipment of Gabon's Etame grade oil and for the first time, Argentina's Medanito oil.

Indian refiners maximised their purchase of Russian oil ahead of a US-imposed deadline on February 27 to settle some energy deals, with several vessels carrying Russian oil arriving in Indian ports towards the end of the month.

India's crude oil imports from Latin America and Africa increased slightly in February as refiners sought alternative sources, fearing disruptions in Russian oil supplies due to stricter US sanctions, according to trade data. India became the largest buyer of discounted Russian oil after Western sanctions were imposed on Moscow following its 2022 invasion of Ukraine. In February, Russian oil imports fell by 3% compared to January, amounting to about 1.54 million barrels per day (bpd), with Russia's share in India's total oil imports dropping to its lowest since January 2024. India's oil imports from Africa rose to 330,000 bpd in February, up from 143,000 bpd in January, while imports from South America surged 60% to 453,600 bpd. Following the imposition of sweeping US sanctions on Russian oil producers and tankers in January, disrupting supply from the world's second-largest oil producer, Russia's share of India's total oil imports declined to around 30.5%, while Latin America's share increased to 9%, the highest since December 2021. In February, India received a rare shipment of Gabon's Etame grade oil and for the first time, Argentina's Medanito oil. Indian refiners maximised their purchase of Russian oil ahead of a US-imposed deadline on February 27 to settle some energy deals, with several vessels carrying Russian oil arriving in Indian ports towards the end of the month.

Next Story
Infrastructure Urban

Thanjavur to Turn Garbage Dump into Eco-Park Under CITIIS 2.0

The Thanjavur City Corporation plans to convert its 28-acre garbage dump at the Chekkadi compost yard into an eco-park under the CITIIS 2.0 programme by the Union Ministry of Housing and Urban Affairs. The project involves bio-capping around 2 lakh cubic metres of legacy waste at an estimated cost of $3.6 million. This will include leveling mounds, adding soil layers, and installing systems to prevent groundwater contamination. A Waste Processing Facility (WPF) worth $2.4–$3.6 million will also be established to handle non-biodegradable waste. Additionally, 12 existing and six proposed mic..

Next Story
Infrastructure Transport

Ceigall India Secures $111 Million Contract for Ludhiana Bypass

Infrastructure company Ceigall India Ltd has secured a significant contract from the National Highways Authority of India (NHAI) for the development of a six-lane greenfield southern Ludhiana bypass. The company received the Letter of Award (LOA) on March 13, 2025, according to a stock exchange filing. The project, part of the Ludhiana-Ajmer Economic Corridor, involves developing a 25.24 km stretch from NH44 near Village Rajgarh to the Delhi-Katra Expressway (NE 5) near Village Ballowal. Awarded under the Hybrid Annuity Mode (HAM), the project's estimated cost is approximately $104 million, ..

Next Story
Infrastructure Transport

J&K Plans New Srinagar-Pahalgam Road to Boost Tourism

The Jammu & Kashmir Public Works (R&B) Department has announced plans to construct an alternative road from Srinagar to Pahalgam via Khrew, Wahab Sahib, Syedabad (Pastuna), Karmula Tral, and Lehndajan. The new route is expected to reduce the travel distance between Srinagar and Pahalgam by approximately 30 kilometers, enhancing connectivity and promoting tourism in the lesser-explored upper regions of Tral. The project was discussed in response to a Starred Assembly Question raised by MLA Pampore, retired Justice Hasnain Masoodi. The Minister Incharge highlighted that the initiative would boo..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?