Reliance Industries Denies Report on Russian Oil Deliveries to Jamnagar Refinery

Reliance Industries Limited on Tuesday categorically denied a media report that claimed Russian crude oil shipments were headed to its Jamnagar refinery, asserting that no such deliveries have taken place in recent weeks and none are expected in January.

In a strong clarification issued on social media, the company dismissed the report as factually incorrect. Reliance said a news report alleging that three vessels carrying Russian oil were en route to its Jamnagar facility was “blatantly untrue” and misleading.

According to the company, its Jamnagar refinery has not received any cargo of Russian crude oil for approximately the past three weeks. Reliance further clarified that it does not anticipate receiving any Russian oil shipments during January, directly contradicting the claims made in the report.

“Reliance Industries’ Jamnagar refinery has not received any cargo of Russian oil at its refinery in the past three weeks and is not expecting any Russian crude oil deliveries in January,” the company said in its statement.

Reliance also expressed strong displeasure over the publication of the report despite its denial being conveyed beforehand. The company said it was deeply disappointed that its clarification was ignored, adding that the publication of what it described as an incorrect report had the potential to damage its reputation.

“We are deeply pained that those claiming to be at the forefront of fair journalism chose to ignore the denial by RIL and publish a wrong report, thereby tarnishing our image,” the statement said.

The clarification comes amid heightened global scrutiny of crude oil trade flows, particularly involving Russian oil, due to ongoing geopolitical tensions and sanctions-related concerns. Reports linking major refiners to Russian crude often draw sharp attention from markets, policymakers, and investors.

Reliance’s Jamnagar facility, located in Gujarat, is the world’s largest oil refining complex and plays a critical role in India’s domestic fuel supply as well as refined product exports. Given its scale and global integration, any speculation around its crude sourcing can have wider implications for market sentiment.

The company’s denial follows a volatile trading session for Reliance shares, which were under pressure earlier in the day amid broader market weakness and news-related nervousness. Analysts noted that such reports can trigger short-term volatility in large-cap stocks, even when companies issue prompt clarifications.

By issuing a detailed and firm response, Reliance sought to put an end to speculation and reassure stakeholders about the accuracy of its sourcing disclosures. Market participants are now expected to focus on official company communications rather than media speculation, especially in a sensitive global energy environment.