Reliance Industries Ltd is seeking to sell several cargoes of West Asian oil to both domestic and international buyers, marking an unusual departure for the Indian refiner, which is typically a significant buyer. According to sources at companies that received the offers, the company is attempting to sell grades such as Murban and Upper Zakum on the spot market. The exact volume of crude that Reliance intends to offload remains unclear.
This recent initiative by India’s largest privately owned refiner is surprising, as Reliance usually imports large quantities of oil from West Asia and Russia. It has already sold a shipment of Iraqi Basrah Medium crude to a buyer in Greece.
A spokesperson for Reliance Industries did not respond to an email requesting comment on the situation.
Amidst shifting market dynamics, refiners in India— the world’s third-largest crude importer—are increasingly looking to diversify their supply sources, following Western sanctions that have complicated the purchase of discounted Russian oil. Reliance has been a major importer of Russian crude this year, but in light of recent U.S. sanctions intended to limit funding for Russia’s actions in Ukraine, the company acquired millions of barrels from West Asia in the previous month.
Reliance announced in the prior month its commitment to adhere to U.S. sanctions and indicated that it would adjust its operations accordingly to comply with the new regulations. Previously, the company had a term supply agreement for approximately 500,000 barrels per day with Russian producer Rosneft PJSC.
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Published on November 6, 2025.
