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India's Reliance To Stop Processing Russian Oil At Giant Jamnagar Refinery India's Reliance Industries said it would stop processing Russian oil at part of its giant Jamnagar oil refinery as US sanctions force the company to shy away from dealings with Moscow, Bloomberg reported.   The export-focused part of the refinery took its last shipment of Russian crude on Thursday, the company said in statement adding that some purchases bought before the US put sanctions on Russia's two largest oil companies would discharge at another part of the facility. Starting Friday, four of Russia's top producers - accounting for as much as 80% of the country's exports to India - are under sanction, leaving counterparties at risk of secondary sanctions.  Reliance's plant at Jamnagar can process more than 1.4 million barrels a day of crude and in turn supply products to both the domestic market and overseas.  Jamnagar refinery at night In a sign that Trump's sanctions on Russian oil may finally be wor...

Effective November 20, Reliance Industries has transitioned away from importing Russian crude for its Jamnagar export-only refinery. By switching to non-Russian sources, the company is making a statement ahead of tightening EU restrictions. This early action positions Reliance to fully comply with product-import guidelines that are scheduled to come into play by January 2026....

India's Reliance Industries Limited said it would stop processing Russian oil at part of its giant Jamnagar oil refinery as US sanctions force the company to shy away from dealings with Moscow....

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, President Trump has signed legislation to end the longest government shutdown in US history. Elsewhere, In an exclusive interview, Volodymyr Zelenskiy says fresh European funding using Russian funds, is critical for sustaining his country's war effort. Bloomberg's Oliver Crook misspoke when he asked Zelenskiy if he had discussed alternative plans with Russian allies about Russian assets. He meant of course to say, if he had discussed alternative plans with allies about Russian assets. Today's guests: Yael Selfin, KPMG UK Vice Chair & Chief Economist, Siemens CEO Roland Busch, Entrepreneurs First Co-Founder and CEO Alice Bentinck. (Source: Bloomberg)...

US Sanctions Push Indian Refiners Away From Russian Crude By Charles Kennedy of OilPrice.com All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Russia's top oil producers, Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg on Tuesday.  India's refiners, which have come to rely on cheap Russian crude in the past three years, have withdrawn from the December purchasing window which typically closes by November 10.    Five large refiners, including state-owned Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Mangalore Refinery and Petrochemicals Limited (MRPL), and private firms Reliance Industries Ltd and HPCL-Mittal Energy Ltd, have not requested any Russian crude for December.  Combined, these five firms have imported two-thirds of all Russian crude oil into India year to date, according to Kpler data cited by Bloomberg.  Only India's biggest state-held...

India plans to significantly reduce direct imports of Russian crude from late November due to new US sanctions targeting Rosneft and Lukoil. Major refiners like Reliance Industries and state-controlled entities will halt purchases, leading to a sharp decline in December deliveries....

Reliance Industries has significantly reduced its crude oil imports from Russia, anticipating a complete halt from sanctioned entities by November 21. This strategic shift aims to comply with Western sanctions and maintain access to US and European markets. The company is increasing imports from the Middle East and the US to compensate for the reduced Russian supply....

Last year, Reliance Industries Ltd signed a deal with Russian major Rosneft to import nearly 500,000 barrels per day....

Reliance Industries said it is evaluating the impact of new US and EU sanctions on Russian oil firms, stating full compliance with EU import guidelines for refined products. The company, a major importer of Russian crude, is diversifying its oil sources, securing shipments from Saudi Arabia, Iraq, Qatar, and the US. This move aims to navigate potential penalties and maintain supplier relationships....

Reliance Industries is diversifying its crude oil sources, shifting away from Russian supplies following US sanctions on major Russian firms. The Indian giant has secured millions of barrels from the Middle East and the US, with shipments expected in December and January. This move signals a significant change in India's energy procurement strategy amidst global geopolitical shifts....

India's Reliance Industries Ltd. has bought millions of barrels of crude from the Middle East and US after Washington sanctioned two Russian producers, raising concerns about a disruption to oil flows....

US sanctions on Russia's Rosneft and Lukoil are poised to impact Indian refiners Reliance Industries and Nayara Energy, potentially reducing RIL's EBITDA by ₹3,000-3,500 crore. Government-operated oil marketing firms may also face significant risks due to reduced Russian crude supply and discounts....

India's state-run refiners will likely continue buying Russian crude via traders, sidestepping new US sanctions on Rosneft and Lukoil. These public sector units procure oil through independent European and Asian intermediaries, not directly from sanctioned entities. However, private giants like Reliance Industries, with direct contracts, may face sourcing challenges....

Indian refiners, including Reliance Industries, are reviewing Russian oil trade documents due to intensifying global sanctions. Reliance is recalibrating imports to align with government guidelines amid new US and EU measures targeting Russian energy firms. This move reflects a careful balance of commercial interests and geopolitical sensitivities in a tightening sanctions landscape....

Indian's Reliance Industries Ltd. bought Middle Eastern crudes last week and may place more orders, in a sign that Western pressure against Russian flows may be starting to impact its procurement patterns....

The extreme sanctions imposed on Russia have hit industrial sectors the hardest, which have been almost entirely dependent on imports of high quality foreign made machinery for almost all of the last three decades since the fall of the Soviet Union....

Isolation, They Said: Xi Embraces Putin & Modi In Major China Summit - Trump Responds The Shanghai Cooperation Organization (SCO) summit in Tianjin, held from August 31 to September 1, was clearly an economic 'show of force' aimed at the West, which included the typical formal greetings and speeches, and group photos - but also with some not so subtle messaging. Amid the chummy atmosphere which saw Presidents Xi, Modi, and Putin share hugs, handshakes, and warm moments filled with laughter, it is intent on signaling to the world a major shift away from US-led global dominance and toward a multipolar world increasingly shaped by Asia, Eurasia, and the Global South, also coming at a moment Washington is threatening severe secondary sanctions on any nation doing business with Russia. Sputnik via AP The populations of China, India, and Russia represent over a third of the global population alone, and heads of state from over 20 more countries were also represented, among them Belarus and Slovak...

Reliance Industries Ltd.'s annual investor gatherings have long been a red-letter day in the Indian financial calendar, with shareholders anticipating ambitious targets, bold statements and a rare sighting of a billionaire lauded for his business acumen....

Global Stock Rally Fades As Ukraine Talks Continue, Focus Turns To Jackson Hole Futures are flat ahead of consumer-sector earnings kicking off today, starting with a miss by Home Depot this morning. As of 8:00am ET, S&P futures were unchanged while Nasdaq futures drop 0.1% as Mag7 names are mostly lower ex-NVDA. Semis are mostly weaker ex-INTC which gained more than 6% on news SoftBank would invest $2 billion in the chipmaker and the US would take a 10% stake. Defensives are slightly outperforming Cyclicals. Europe's Stoxx 600 rose 0.5% as signs of progress toward a peace settlement in Ukraine lifted sentiment. The dollar nudged lower. Treasuries eked out gains after S&P Global Ratings affirmed its AA+ long-term rating for the US, with the 10-year rate falling one basis point to 4.32%. Commodities are weaker dragged lower by energy despite strength in precious and Ags. BBG flags a trade escalation from Friday where Trump expanded the metals tariffs to more than 400 consumer goods, incl...

US and European officials will immediately work on providing Ukraine with robust security guarantees to open a path for a landmark meeting between presidents Vladimir Putin and Volodymyr Zelenskiy, according to people familiar with the matter. SoftBank agreed to buy $2 billion in Intel Corp. stock, a move that extends its US investment effort and offers a vote of confidence in the struggling chipmaker. - The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Kriti Gupta. (Source: Bloomberg)...