India-bound Russian oil tanker turns back amid fresh US sanctions, refiners on alert
Chennai: An India-bound oil tanker carrying Russian crude has abruptly reversed course in the Baltic Sea, raising concerns over possible disruptions in the oil trade between India and Russia, Bloomberg reported on Wednesday.
The vessel, identified as Furia, had loaded around 730,000 barrels of Urals crude from Russia’s Primorsk port and was originally headed for Sikka port in Gujarat. The tanker turned back and updated its destination to Port Said in Egypt, after reaching the Fehmarn Belt between Denmark and Germany, as reported by The New Indian Express. The turnaround of the tanker suggests potential shipping, insurance, other complexities arising from sanctions enforcement and issues linked to the latest US sanctions.
The fresh sanctions on Russian energy majors, including Rosneft and Lukoil, require all ongoing transactions to be wound down by November 21. This will raise an uncertainty among Indian refiners that rely on discounted Russian supplies.
While early indications suggest that Indian oil imports from Russia may fall significantly or possibly pause temporarily, refiners such as Reliance Industries, Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are reevaluating their contracts.
Since 2022, India has emerged as one of the largest purchasers of Russian crude. It has been benefiting from the significant discounts that have raised refining margins and reduced import expenses. Industry analysts warn that any disruption might push refiners to seek more expensive alternatives from the Middle East, Africa, or Latin America, raising fuel input costs and reducing revenues.
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IPL first phase schedule announced amid travel concerns caused by war in West Asia
New Delhi (PTI): Defending champions Royal Challengers Bengaluru will take on Sunrisers Hyderabad in the IPL 2026 opener in Bengaluru on March 28 as the BCCI announced the first phase of the tournament schedule amid concerns around players' travel arrangements due to the ongoing West Asia conflict.
All matches scheduled at the Chinnaswamy Stadium remain subject to clearance from the Karnataka government appointed expert committee, which is scheduled to meet on March 13 to assess venue preparedness in the wake of the deadly stampede at the stadium last season.
The BCCI announced the schedule of the first 20 games on Wednesday and will unveil the full schedule once the dates of elections in three states -- Tamil Nadu, Assam and West Bengal -- are announced.
Besides the state elections, the escalating conflict in West Asia will also be at the forefront of BCCI officials' minds. The war has wreaked havoc to international travel with operations of major airports like Doha and Dubai being heavily restricted.
As a result of that, some of the squad members of South Africa and West Indies are yet to reach home a week after the completion of their T20 World Cup campaign.
It remains to be seen if IPL bound players of those two nations report to their respective teams in time.
"There was a substantial delay in departure of West Indies and South Africa players. It would be a tough task to get them back to India on time. Plus the airfares have gone up substantially due to the war in West Asia," a team official told PTI.
Additionally, hotels across India are facing cooking gas shortage due to the raging conflict and on Tuesday, the central government invoked Essential Commodities Act to ensure uninterrupted supply of domestic cooking gas.
Chennai Super Kings CEO Kasi Viswanthan told PTI that he is expecting his players from the West Indies and South Africa -- Akeal Hossein and Dewald Brevis, to join the team well before their IPL opener.
"We are expecting no delays from their end," he said.
The second game of the opening weekend will see Mumbai Indians host Kolkata Knight Riders at the Wankhede Stadium and the opening weekend will not feature any double-headers.
A total of 20 matches will be played across 10 venues: Bengaluru, Mumbai, Guwahati, New Chandigarh, Lucknow, Kolkata, Chennai, Delhi, Ahmedabad and Hyderabad.
"During the season, Royal Challengers Bengaluru will play five home matches in Bengaluru and two in Raipur. Punjab Kings will play four home matches in New Chandigarh and three in Dharamshala, while Rajasthan Royals will play three home matches in Guwahati and four in Jaipur," said the BCCI in a statement.
"During this period (the first 16 days), the tournament will feature four double-headers, with the afternoon matches beginning at 03:30 PM IST and the evening matches commencing at 07:30 PM IST.
"Following the opening encounter on Saturday, Mumbai Indians will take on Kolkata Knight Riders at the Wankhede Stadium in Mumbai on Sunday.
"The matches scheduled in Bengaluru are subject to clearance from the Expert Committee constituted by the Government of Karnataka," the BCCI added.
