India’s Russian oil buys jump 90% in March

NEW DELHI: India’s acquisition of crude from Russia roseate 90% successful March compared with Feb, adjacent arsenic wide imports declined astir 15% owed to the disruption of vigor supplies from West Asia.The disruption successful the Strait of Hormuz, a cardinal vigor chokepoint, besides led to a 40% autumn successful India’s petroleum state (LPG) imports and a diminution successful earthy state (LNG) shipments successful March, forcing New Delhi to scout for alternate sources (see graphic).

After subdued purchases successful Dec 2025 and Jan-Feb 2026, imports from Russia surged pursuing a 30-day waiver announced by the United States that allowed purchases of sanctioned lipid already astatine sea.

Imports from African countries specified arsenic Angola, Gabon, Ghana and Congo besides rose, though their wide publication to the lipid handbasket remained small. “Middle Eastern producers are partially rerouting supplies via pipelines that bypass Hormuz — notably Saudi Arabia’s East-West (Yanbu) pipeline and the UAE’s Habshan-Fujairah pipeline.

These flows person provided incremental relief, allowing India to proceed sourcing immoderate volumes from the portion contempt maritime constraints,” said Sumit Ritoia, pb expert astatine planetary information analytics steadfast Kpler.

He added that the acquisition of Russian lipid is expected to proceed into April, portion determination is besides imaginable for the acquisition of Iranian barrels. “India is besides expected to commencement receiving Venezuelan barrels from April onwards which would assistance mitigate immoderate of the crude proviso risk.”India’s liquefied earthy state (LNG) supplies from Qatar fell sharply by 92% compared to Feb owed to a unit majeure declared by QatarEnergy, which has semipermanent contracts with New Delhi, arsenic good arsenic disruption successful Hormuz.

The shortfall was partially offset by a surge successful imports from the US, Oman, Angola and Nigeria.The crisp autumn successful LPG imports was marginally offset by ramping up home accumulation and restricting supplies to commercialized and concern consumers, to guarantee availability of cooking state for the ample lawsuit basal of implicit 33.2 crore.