Russian Oil Imports to Rise in September as India Defies US Punitive Tariffs

Indian Russian oil imports are set to rise in September as the Indian government continues to defy US punitive tariffs. The tariffs were meant to force the country to stop the trade with Russia and broker peace with Ukraine, reported Reuters. Since western countries have sanctioned Russia after it invaded Ukraine, India has become the biggest buyer of Russian crude oil. 

Oil sale traders said Indian refiners would increase oil purchase from Russia by 10-20% from August levels, or by 150,000-300,000 barrels per day. 

US-EU Sanctions-hit Nayara Rely on Dark Fleet, Seeks Government Assistance

Nayara Energy, a Russia-backed Indian refiner, is relying on the dark fleet, a fleet of sanction-evading tankers, to import oil and transport refined fuels, according to shipping reports. Since the US and EU sanctions, Nayara has reduced shipping and is seeking government assistance to secure ships, reported Reuters. 

Nayara controls approximately 8% of India’s 5.2 million barrel per day refining capacity. Since the EU sanctions were imposed in July, many shippers have backed out, forcing Nayara to reduce its oil shipments. 

India’s Crude Oil Imports from Brazil Rise 75% as Tariffs Hit Russian Oil Import

India’s crude oil import rose 75% year-on-year in the first half of 2025 as US tariffs impact Russian oil imports. The inflow rose from 41,000 barrels per day to 72,000 barrels per day, reported ET Energyworld. 

S&P Global Commodities data showed that shipments, majorly from Petrobras, were dominated by Lula/Tupi grades accounting for 43% of imports. Indian Oil Corporation and Reliance Industries were the main buyers of the oil. 

China’s Sinopec Reported Slump in Profit Over Declining Prices

Sinopec, China’s biggest refiner, reported a slump in first-half profits because of declining prices, muted output of some products, and weaker margins, Bloomberg reported. Following the decline, the company has decided to lower its full-year capital spending plan by about 5%. 

The company reported lower production of both gasoline and diesel, as the rapid increase in electric vehicles has undermined demand for the transport fuels. 

US Nuclear Fuel Tech Firm Eyes Indian Approvals and Tie-Ups

US firm Clean Core Thorium Energy (CCTE) is looking for Indian regulatory approvals for its thorium-based fuel technology and local tie up with public sector units, after securing a license from the American government that enabled it to export nuclear fuel overseas, reported ET Energyworld.

CCTE will also discuss the private partnership avenue in India once it allows privatisation of its nuclear space. 

BPCL to Invest ₹95,000 Crore for refinery in Andhra Pradesh

Bharat Petroleum Corp (BPCL) will invest as much as ₹95,000 crore with the capacity of refining  9 million tonnes of crude oil annually. It will build its next greenfield oil refinery and petrochemical complex near the Ramyapatnam Port in Andhra Pradesh aligning itself with India’s goal to become a global refining and petrochemical hub, reported ET Energyworld

This year, BPCL’s retail sales volume rose 2.6% to 33.5 MMT. Petrol grew 6.4%, while diesel sales remained flat.

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