The country's largest oil refining company, Indian Oil Corp, has purchased oil from Colombia for the first time.
According to a Reuters source, Indian Oil Corp purchased 2 million barrels of Castilla crude for delivery in February 2026. The company is also considering the possibility of buying another 12 million barrels of "black gold". This decision was made to expand supply sources against the backdrop of sanctions against Russia.
According to Kpler analytics center data, India's oil imports from Russia fell to the lowest level in the last three years in December 2025, amounting to 1.2 million barrels per day. In November, this figure was 1.84 million barrels.
As US sanctions increase pressure on Russia's energy sector, Indian companies are forced to look for alternative markets. In particular, although Reliance Industries temporarily halted oil imports from Russia, it later partially restored supplies through suppliers not on the "black list". According to a number of sources, supply volumes may increase again from the beginning of 2026.
