Reliance Offers Middle Eastern Oil Cargoes Amid Shift from Russian Crude
According to sources, RIL recently purchased around 12 million barrels from Abu Dhabi, Qatar, Iraq, and the U.S. to replace Russian supplies. Some of these cargoes, including Iraqi Basrah Medium, have been offered for resale to refiners in Europe.
The move marks a strategic adjustment in Reliance’s sourcing approach as it balances global supply risks and adapts to evolving geopolitical trade conditions.
Stay ahead of market trends with the Credco app. For any queries, please reach out to us via WhatsApp at +918448083211.
Related on the Wire
- Supply·Thursday, 15 October 2026
Middle Eastern Producer Issues New PP Film Offers to India Amid Tightening Supply
A Middle Eastern producer has recently announced new offers for polypropylene (PP) film to the Indian market. This move highlights the competitive nature of import supplies in the region. However, specific details such as volumes, netback, and buyer responses remain undisclose…
Read story - Crude·Thursday, 22 October 2026
India’s Middle East Crude Imports Rebound 32% in September
India’s crude oil imports from the Middle East recovered to levels last seen before the war in September, supported by increased oil shipments through the Strait of Hormuz. Meanwhile, India’s purchases of Russian crude declined as Chinese buyers increased competition for Russi…
Read story - Crude·Tuesday, 3 November 2026
S-Oil’s Shaheen Project Set to Boost Ethylene Capacity Amid South Korea’s Restructuring Push
South Korea’s efforts to restructure its petrochemical industry are facing fresh challenges as S-Oil’s $6.9 billion Shaheen project in Ulsan moves closer to completion. The complex is scheduled to begin commercial operations in 2027 and is expected to add 1.8 million tons/year…
Read story - Crude·Monday, 2 November 2026
Crude Oil Slides Nearly 3% as Iran Diplomacy Reduces Supply Risk
Global crude oil prices dropped sharply on Monday, November 2, giving back part of the gains recorded at the end of October. Renewed diplomatic efforts to resolve the US-Israeli conflict with Iran eased immediate concerns over supply disruptions, although ongoing instability i…
Read story