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Indian Oil, India’s Largest Refinery, Seeks Up to 24 Million Barrels of Oil From The Americas, Including Brazil, After U.S. Sanctions Restrict Russian Supply. The Move Reinforces The Role of Brazilian Oil in The Global Scenario.
The Brazilian oil has once again attracted the attention of the international market. Indian Oil Corp., India’s largest refinery and one of the major state-owned companies in the Asian energy sector, has launched a wide search for up to 24 million barrels of crude oil from the Americas to meet its demand in the first quarter of 2026.
The move comes amid new sanctions imposed by the United States on Russia, which have directly affected the country’s exports. This scenario has led Indian refineries, traditionally large buyers of Russian oil transported by ship, to temporarily suspend their purchases.
Brazil Enters India’s Strategic Route
According to a document obtained by Bloomberg News, Indian Oil is interested in barrels from Brazil, the United States, Canada, and other Latin American countries. The deadline for submitting supply offers ends this Friday (31).
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More than 40 Petrobras platforms enter the decommissioning queue and open up a billion-dollar industry in Brazil for cranes, special ships, underwater cutting, and offshore recycling.
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ANP schedules oil auctions in October and reinforces regulatory predictability for concessions, sharing, and investments in the oil and gas sector
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There is oil below the oil that Brazil already extracts: Petrobras confirmed a new accumulation in the Búzios field, at a depth of 5,600 meters, in a zone below the reservoir already operating in the Santos Basin.
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404 km off the coast of Rio de Janeiro, an oil company drilled 5,855 meters into the ocean and discovered the largest oil and gas reserve found in a quarter of a century.
The Indian state-owned company, which is looking to diversify its oil sources, aims to select about five suppliers to meet the demand for the next quarter. The initiative opens new commercial opportunities for Brazil, which has been increasing its relevance in the global energy market, especially after the growth of production in the pre-salt fields.
Sanctions on Russia Reshape Global Oil Trade
The latest sanctions from Washington included Russian giants like Rosneft and Lukoil on the restricted list, limiting the activities of intermediaries and carriers that transported Russian oil to Asia. As a result, Indian Oil and other refineries have suspended new contracts with Moscow, adopting a cautious stance in the face of market instability.
“Some companies, including Indian Oil itself, indicated that they might turn to unaffected suppliers,” said a source quoted by Bloomberg. Expectations are that Russia’s exports, a member of OPEC+, will experience a significant reduction in the coming months.
Brazilian Production Strengthens Position in The International Market
India’s interest comes at a favorable time for Brazilian oil, whose production has been breaking successive records in fields like Búzios and Tupi, in the Santos Basin. The increasing volume from the pre-salt has established Brazil as a reliable and competitive supplier, capable of meeting the demand from large emerging markets.
With the possibility of closing new contracts with India, Brazil is expanding its strategic presence in Asia, a region that already absorbs a considerable portion of its oil exports. This rapprochement between Brazil and India reinforces the trend of diversifying global energy routes, in the context of post-sanctions geopolitical reorganization.
Indian Refineries Assess The Scenario and Reduce Exposure to Russia
According to industry sources, Indian Oil has not placed new orders for Russian oil since October 22 and is still evaluating whether to extend the purchasing pause. Meanwhile, the company is analyzing proposals from new suppliers and preparing for a possible cut in Russian exports.
The refinery consumes an average of 1.5 million barrels of oil per day, making it one of the largest importers in the world. Even in the face of the impact of sanctions, the company maintains its goal of ensuring domestic supply, prioritizing stable suppliers with efficient logistical capacity — criteria that favor Brazilian oil.
A company spokesperson declined to officially comment on the matter, but internal sources indicate that negotiations are underway and should be concluded in the coming weeks.
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