Indian Oil is purchasing Russian crude oil without sanctioned entities' involvement. The company anticipates a 6-7% growth in gasoline demand and 4% in diesel by 2026. However, petrochemical margins are expected to remain weak due to oversupply,

Some are existing outfits that have not been impacted by the punitive measures, while others are newly created, replacing those that are now off-limits

Indian oil refiners navigate US sanctions on Russian crude imports by restructuring supply chains with new entities and strategies.

Meanwhile, the IOCL is progressing with key refinery expansion projects. the company anticipates commencing operations at its expended Panipat refinery, with a capacity of 500,000 barrels per day (BPD),

U.S. sanctions on Russia should not affect Moscow's oil trade with India, Pavel Sorokin, Russia's first deputy energy minister, said on Tuesday, adding that it was too early to assess the impact of the latest restrictions.