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Russia oil: $16 bn gains for pvt refiners

The Morning Standard

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August 11, 2025

As Russia continues to be India's top crude supplier in 2025, private refiners such as Reliance Industries and Nayara Energy have made the most profit by importing the largest volumes.

- RAKESH KUMAR @New Delhi

Russia oil: $16 bn gains for pvt refiners

These refiners processed discounted Russian oil into petrol, diesel, and aviation turbine fuel (ATF), exporting the products to major markets, including the EU and the US. As per some estimates, quoted in international media, Indian refiners had gained $16 billion in extra profit from importing discounted Russian oil, with $6 billion (over ₹50,000 cr) of that going to Reliance Industries.

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