Reliance to buy more oil from Middle East, US

Business Oct 24, 2025

Reliance Industries, India's biggest private oil refiner, is now buying a lot more oil from the Middle East and US.
This shift started after the US hit Russian suppliers Rosneft and Lukoil with sanctions in October 2024.
Reliance has already secured at least 2.5 million barrels—mainly from Iraq and Qatar—with deliveries set for December 2025 and January 2026.

Why this shift matters

This matters because Reliance is quickly adapting to global changes, looking for oil grades that can replace Russian supply.
Other Indian refiners are doing the same, grabbing spot deals from the Middle East, US, and Brazil as Russian oil to India drops off.
It's a real-time example of how fast energy markets—and big companies—have to pivot when politics and prices shift.