India is shifting its oil buying strategy as new U.S. sanctions threaten its access to Russian crude. Two major refiners have moved quickly to secure millions of barrels from alternative suppliers ahead of the sanctions taking effect later this month.
Industry sources told Reuters that Hindustan Petroleum Corporation has purchased 4 million barrels for January delivery — a split between U.S. West Texas Intermediate and the UAE’s Murban grade. Mangalore Refinery and Petrochemicals Ltd. followed with an additional 1 million barrels of Basra Medium from Iraq.
The buying spree comes after Washington sanctioned Russian energy giants Rosneft and Lukoil, companies responsible for a large share of Russia’s exports and a key part of India’s crude mix. With the restrictions set to begin on November 21, Indian refiners are racing to secure reliable alternatives or search for legal loopholes to keep discounted Russian flows within reach.
Meanwhile, tanker activity off India’s coast has drawn attention. Bloomberg reported a rare ship-to-ship transfer involving two vessels under European and British sanctions, suggesting continuing attempts to move Russian cargoes covertly. One tanker headed to Kochi after the transfer, while the other turned back toward Russia.
India is also looking to deepen ties with African suppliers. During a state visit to Angola, President Droupadi Murmu said Indian oil and gas companies are exploring long-term supply contracts and potential investments in both energy and critical minerals.
She emphasized Angola’s growing importance in India’s energy security, calling it a key partner for the future.









