Oil and Natural Gas Corporation (ONGC) group refiners will keep purchasing and processing Russian crude as long as it remains economically viable, said Chairman Arun Kumar Singh. He confirmed there is no pressure to reduce Russian oil imports, despite recent US rhetoric and tariff measures.
No Sanctions, No Restrictions
Singh clarified that Russian oil is not under any international sanctions, and unless the Indian government issues a directive, ONGC group companies such as Hindustan Petroleum Corporation Ltd (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) are free to source crude from Russia.
Buying Strategy Based on Economics
“As long as it is economical, we will keep buying every drop (of Russian oil) that comes to the market,” Singh stated. As reported by indianexpress.com, the approach reflects ONGC’s focus on cost efficiency and energy security, ensuring affordable crude supplies for its refineries while navigating the evolving global trade environment.
