State-run refiners increase UAE crude and LPG purchases after a strategic supply deal with ADNOC last month.
Indian refiners have secured crude oil supply through August by ramping up imports from the UAE, Africa, and Brazil. The move follows a strategic agreement with Abu Dhabi National Oil Company (ADNOC) last month, which includes both crude and liquefied petroleum gas (LPG) deliveries.
Trade sources said state-run refiners are lifting higher volumes from the UAE, including crude from Fujairah, which avoids the Strait of Hormuz. The deal aims to diversify supply and reduce geopolitical risks amid global oil market volatility.
No immediate market reaction was reported, but the agreement is expected to stabilize India’s energy imports for the near term.