Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Refiners don't see supply risk even as US targets Russian oil
Mint Hyderabad
|August 01, 2025
India's oil refiners do not see any risk to well-diversified crude supplies after US President Donald Trump imposed a penalty on the country for buying Russian crude, in addition to a 25% tariff, according to two people in the know.
An immediate diversion of Russian crude is not expected, given that shrinking discounts have brought down purchases, the people said on the condition of anonymity. The Union petroleum ministry is confident that supplies would not be an issue for India as its import basket is diversified with 40 countries exporting oil to the country, they said.
"Currently, the government and the oil refiners are in a wait-and-watch mode. There is a hope that the bilateral trade talks would conclude on a favourable note and the high tariff may come down," said an official with a state-run refiner.
This story is from the August 01, 2025 edition of Mint Hyderabad.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Hyderabad
Mint Hyderabad
Do tariffs work?
With trade tensions between the US and China flaring up again, the spotlight is on how their game of mutually assured disruption plays out.
1 min
October 22, 2025
Mint Hyderabad
Keppel buys 49% in Cleantech, takes control
cation,” a Shell spokesperson said in an emailed response.
1 mins
October 22, 2025
Mint Hyderabad
CCI clears Torrent's JB stake buy proposal
Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Torrent Pharmaceuticals Ltd's proposed acquisition of a stake in JB Chemicals and Pharmaceuticals, subject to voluntary modifications offered by the companies.
1 min
October 22, 2025
Mint Hyderabad
'Balanced India-US portfolios fared better'
Saurabh Mukherjea has a simple message for investors in Indian equities: it's time to look beyond. The chief investment officer and co-founder of Marcellus Investment Managers believes that with jobs in India drying up due to the US tariffs, consumption slowdown and tepid corporate earnings, it “will be tough for a market already trading at record-high valuations to move any further”.
2 mins
October 22, 2025
Mint Hyderabad
NITI Aayog proposes new panel to supercharge net-zero push
India’s top government think-tank has called for setting up a panel to guide policy and coordinate multi-ministry efforts on climate action and energy transition, two people aware of the development said.
1 mins
October 22, 2025
Mint Hyderabad
The Jio tariff hike everyone expected isn't coming—yet
The company has instead chosen to grow revenue by driving users to consume more data
2 mins
October 22, 2025
Mint Hyderabad
Reliance seeks to buy Middle East oil
Reliance Industries Ltd bought Middle Eastern crudes last week and may place more orders, ina sign that Western pressure against Russian flows may be starting to impact its procurement patterns.
1 min
October 22, 2025
Mint Hyderabad
Deloitte's AI debacle in Australia isa warning for all early adopters
That a report riddled with AI hallucinations was sent to a government should be a wake-up call
3 mins
October 22, 2025
Mint Hyderabad
Jio-BP’s Q2 petrol, diesel sales up 34%
Jio-BP, the fuel retailing joint venture of Reliance Industries and super major BP, clocked a 34% rise in petrol and diesel sales in the September quarter as the joint venture aggressively expands its retail network.
1 min
October 22, 2025
Mint Hyderabad
Recent Nobel prizes for economics seem rich in irony
This year’s Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded “for having explained innovation-driven economic growth,” with one half to Joel Mokyr “for having identified the prerequisites for sustained growth through technological progress” and the other half jointly to Philippe Aghion and Peter Howitt “for the theory of sustained growth through creative destruction.”
3 mins
October 22, 2025
Listen
Translate
Change font size