India Crude Oil

The oil price surge is putting pressure on fuel retailers and government finances, raising concerns over inflation and a widening fiscal deficit

India's crude oil import bill surged 47% in September as the Indian basket price averaged $116.09 a barrel, while import volumes rose just 7% to 21.7 million tonnes

Price headache is turning into a physical procurement crisis for importing countries

Donald Trump's Operation Economic Outcast could hit India through higher oil prices, trade disruptions, payment hurdles and possible US action over New Delhi's purchases of Russian energy

The US Senate moved a step closer to passing a bipartisan bill that would allow Trump to impose sanctions on countries, including India and China, that continue to buy Russian oil.

ONGC has approved a 1.75-million-tonne expansion of India's strategic oil reserves at Mangaluru, as the government moves to strengthen energy security after the Iran war exposed supply risks

India's dependence on oil imports and its climate commitments require that petroleum consumption is replaced, to the extent possible, by electricity, preferably renewable

India's current strategic petroleum reserves are equivalent to just about 9-10 days of the country's net crude imports, far below other major import-dependent countries, a new report revealed on Wednesday. The report released by Council on Energy, Environment and Water (CEEW) said other countries that rely heavily on crude imports such as Japan and South Korea maintain reserves sufficient for over 200 days. The report, 'How Secure is India's Energy Future? Assessing Accessibility, Reliability, and Affordability, also noted that over 85 per cent of India's crude oil imports come from just six countries, including Russia and key West Asian suppliers, limiting flexibility supply shocks. Hemant Mallya, fellow at the CEEW, said, "Disruptions in crude oil, LNG, LPG, coal, or key shipping routes can quickly affect cooking costs, transport fuel prices, fertiliser subsidies, industrial competitiveness, and inflation." For gas, India imports nearly half its supply as LNG but has no dedicat

Fuel prices were raised to reduce losses at state-run oil companies, but despite easing pressure after lower crude prices, consumers may not see immediate relief

The West Asia crisis affected India through higher oil prices, pressure on the rupee, weaker trade, rising aviation costs and inflation. Here's how the economy absorbed the shock

Petrol and diesel prices are rising again amid the West Asia crisis. Here's how fuel prices are calculated in India and who earns what from every litre sold at the pump

Supply disruptions in West Asia and Strait of Hormuz closure prompt India to recalibrate sourcing, with Venezuela and Brazil replacing Iraq and the US in April

Imports from Russia nearly doubled from February to 2.25 million bpd in March while shipments from the West Asia slumped 61 per cent to 1.18 million bpd

President Donald Trump said the West Asia conflict could end in two to three weeks, while Iran signalled it is open to ending hostilities if it receives firm guarantees against future strikes

Iran has approved a plan to impose tolls on ships passing through the Strait of Hormuz amid the ongoing West Asia war, raising concerns over global oil supply as Brent crude trades near $111 a barrel

A new LocalCircles survey found that 43% of household consumers reported experiencing LPG delays in the last week, indicating that nearly half of the respondents struggled to get timely deliveries

The Congress on Friday attacked Prime Minister Narendra Modi over India's increasing dependence on crude oil, LPG and natural gas imports. "The gas grandly promised by Mr Modi has remained that -- gas," Congress general secretary in-charge of communications Jairam Ramesh said on X, pointing to India's dependence on natural gas imports. "Between 2014-15 and 2024-25, India's dependence on crude oil imports went up from 84% to 90%. Between 2014-15 and 2024-25, India's dependence on LPG imports went up from 46% to 62%," Ramesh said, adding that "all this when the mantra was supposed to be Atmanirbharta, or self-reliance. The natural gas story is murkier, he claimed. "On June 26, 2005, the then CM of Gujarat (Modi) boasted that the Gujarat State Petroleum Corporation had discovered India's biggest gas reserve in the deep waters of the Krishna-Godavari river basin. Mr Modi announced that this would make India energy independent," Ramesh said. He claimed that five CAG (Comptroller and ..

The cargoes were booked at premiums of $5 to $15 a barrel to Brent

India warns against attacks on commercial ships at IMO meet, calls for restraint and dialogue and raises concerns over safety of seafarers and risks to global trade routes

India built crude reserves for energy security but LPG was never treated the same way even as demand surged. Experts explain what held back storage planning