Reliance Industries has said that it has not received any Russian crude oil at its Jamnagar refinery in the past three weeks. The company also confirmed that it is not expecting any Russian crude deliveries during January.
This statement was issued after a report claimed that three ships carrying Russian oil were headed to Jamnagar.
Reliance clearly stated that the report was wrong and that the company had already denied buying Russian oil for delivery in January. The company said the report harmed its reputation and ignored its earlier clarification.
Reliance was once one of the biggest Indian buyers of Russian oil. However, stricter sanctions from the United States and the European Union have slowed Russian oil flows to India.
Industry data shows that imports fell to around 1.2M barrels per day in December, which is the lowest level in almost three years.
Why this matters
The statement from Reliance is important because the company is one of the largest private refiners in India. Any change in its crude sourcing can affect fuel supply, trade patterns, and the wider energy market.
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