India is emerging as a leading importer of Ukrainian oil this season. “The share of Ukrainian oil in the Indian market rose to 23% compared with 12% in the 2023/24 season, though Russian oil remains the market leader at 58%,

Reliance Industries , India's biggest buyer of Russian oil, has in recent weeks made rare fuel oil purchases from state-run Hindustan Petroleum Corp, seven industry sources said.

Despite better profitability, ONGC has struggled to raise production, with the KG basin ramp-up delayed by an early monsoon. Oil India, meanwhile, has increased production at a 4.3% CAGR over the past three years.

A Bank of Baroda report indicates India's limited exposure to Russian oil export disruptions, estimating an additional $5 billion in annual import expenditure. While India has significantly increased its reliance on Russian oil since 2021-22,

India's state-run Bharat Petroleum Corp has awarded a five-month tender for 10 million barrels of U.S. oil to European trader Glencore, two people with knowledge of the matter said, aiding India's efforts to deepen energy ties with Washington.

On Tuesday, state-owned Oil India, for the first quarter of FY26, reported a marginal increase of 1.5% in its consolidated net profit at Rs 2,046.5 crore against 2,016.3 crore in Q1FY25. The net profit rose 37% on a sequential basis from Rs 1,

An interim dividend of Rs 7.00 per share (70%) was announced on February 7, 2025, with an effective date of February 17, 2025. Prior dividends include Rs 3.00 per share (30%) announced on November 5,

The crude oil market's rather sanguine reaction to the U.S. threats to India over its continued purchases of Russian oil is effectively a bet that very little will actually happen.