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Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine

Boiler blast at Vedanta plant in Chhattisgarh kills 11, injures 22 Bajaj Auto launches WEGO electric three-wheeler range in India Madhya Pradesh CM says basmati rice from the State is exported to 47 nations IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy Sify data centre arm IPO on track and will be timed with market conditions, says CFO BALCO deploys AI humanoid agent for real-time training, operations and safety Funskool clocks $40 million revenue in FY26, despite tariff headwinds Val-Met Engineering secures ₹200 crore funding from Nuvama Crossover Opportunities Funds BEML secures $36.38 million export order from West Asia region Chitale Bandhu Mithaiwale to inaugurate new production facility near Pune NCLT allows personal guarantee case against Videocon promoter Dhoot No immediate impact of US blocking Iranian vessels on India’s crude cargoes Indian spacetech startups shift gears from R&D to scalable manufacturing Protest by factory workers in Noida, Faridabad turns violent Sharon Pais takes over as Head of Myntra Nadir Godrej to retire as chairperson, Pirojsha Godrej named successor APAC emerges as growth engine amid data sovereignty push: IBM’s Hans Dekkers Unicharm India expands Diabetes Care portfolio Sarovar Hotels sees traction in tier II cities, pilgrimage towns Motherson Sumi Wiring says no impact on operations amid Noida labour protests Aster DM Healthcare invests ₹96 cr to expand Aster Whitefield by 159 beds Ola Electric launches S1 X+ 5.2 kWh with 4680 Bharat Cells India’s active LED display market hits ₹2,000 crore China’s TCL is said to consider stake sale in India TV business Strengthening R&D, investment key for Indian drugmakers to lead globally: Nadda Piper Serica deploys ₹210 crore in 33 start-ups; to invest remaining ₹63 crore in 2-3 months NCLAT adjourns hearing on Vedanta plea against selection of Adani's bid for JAL GE Aerospace signs contract with Indian Air Force to help establish in-country depot for F404-IN20 engines RateGain launches AI-driven hotel marketing certification programme Q4 Results This Week: HDFC Bank, ICICI Bank, Wipro, Just Dial among 42 companies reporting
Reliance seeks government approval to buy Iranian crude oil
2026-04-11 · via Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine

Reliance Industries Ltd. has sought Indian government approval to import Iranian crude on four vessels, according to a person familiar with the matter, as a key US sanctions waiver nears its April 19 expiry.

The operator of the world’s largest single-site refinery is looking to ensure any purchases remain compliant with US restrictions on Tehran and do not violate Indian laws, the person said, asking not to be identified due to the sensitivity of the discussions.

Indian refiners stepped up purchases of Russian oil after the Trump administration granted waivers that are set to expire this month.

That’s been reflected in the import figures, with about 1.9 million barrels a day of Moscow’s crude arriving in India last month, up from about 1.1 million in February, according to vessel tracking data compiled by Bloomberg.

Still, buying from Iran has seen limited traction, reflecting concerns over suppliers, intermediaries and payment mechanisms tied to sanctions. India hasn’t imported crude from Iran since 2019.

However, the oil ministry said in a post on X earlier this month that India is buying oil and liquefied petroleum gas from Iran.

Supply constraints have deepened after disruptions in the Strait of Hormuz curtailed shipments to India, the world’s third-largest crude importer, forcing refiners including Reliance to seek alternative sources.

The company has previously turned to other producers that were sanctioned earlier. It has secured a US general license to import Venezuelan crude.

Reliance, which accounted for nearly a third of India’s total imports of 1.7 million barrels a day from Russia last year, has seen those volumes plunge after the EU imposed restrictions on fuels made from Russian crude.

India’s shipping ministry has granted special clearance to four tankers — including the Comoros-flagged Kaviz, Curacao-flagged Lenore, and Iran-flagged Felicity and Hedy — to facilitate potential cargoes, Reuters reported earlier Friday.

All four of those ships are sanctioned by the US, according to data compiled by Bloomberg.

More stories like this are available on bloomberg.com

Published on April 11, 2026