India Oil Imports

After months of conflict, the US and Iran have agreed to a peace deal. The move could lower oil prices, support the rupee, revive India's exports and ease inflation concerns

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

A reopening or normalization of shipping through the Strait of Hormuz would provide significant relief for India, one of the world's largest crude importers, by easing concerns over oil supplies, lowering freight costs and reducing pressure on inflation. The narrow waterway between Iran and Oman handles roughly a fifth of global oil consumption and serves as the primary export route for major Gulf producers, including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and Qatar - all key energy suppliers to India. Supply of crude oil - the raw material for making fuels like petrol and diesel - and natural gas - the feedstock used to generate electricity, produce fertiliser, turned into CNG to run automobiles and piped to household kitchens for cooking - through the strait was disrupted since the start of Iran in the end of February. This triggered sharp increases in crude oil prices, shipping insurance premiums and freight rates. Industry sources and analysts said the reopening an

State-owned Shipping Corp. of India is ready to go back to the Persian Gulf once it has approval from the Indian Navy and it has business from oil refiners

Venezuela's return as a top crude supplier highlights how oil alone has shaped India-Venezuela trade, from a $14-billion peak to near-collapse and revival

It may remain a conflict not confined to that theater ... you know, you could have problems elsewhere, Hardeep Singh Puri said

Imports of Russian crude oil rose to 1.92 million barrels per day till May 28

In April and May, Indian refiners raised imports from Venezuela, Brazil, Angola and Nigeria to make up the shortfall, as well as continuing to buy Russian oil

Today's opinion wrap examines the Bajaj group's legacy, India's Nordic outreach, oil trade vulnerabilities, the US Federal Reserve's independence and a book on Chapal Bhaduri

India's edible oil demand continues to rise on the back of population growth and improving incomes, making import dependence difficult to curb unless domestic oilseed production rises sharply

The deliberations come as the government steps up efforts to curb foreign-exchange outflows, which have put pressure on the rupee - Asia's worst-performing currency this year

In May, flows are expected to come in at close to 1.9 million barrels a day, close to peak levels - though that still includes a period under the US permit that was allowed to expire over the weekend

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

India's ₹37,500 crore coal gasification scheme aims to cut import dependence, boost industrial growth and strengthen energy security by turning domestic coal into strategic fuel and chemicals

India's vegetable oil imports rose 13 per cent to 7.94 million tonnes in the first six months of the 2025-26 oil year, driven by a sharp surge in palm oil shipments, industry body the Solvent Extractors Association of India (SEA) said on Wednesday. The world's largest cooking oil consumer imported 7.04 million tonnes in the same period a year earlier. India's oil year runs from November to October. In value terms, imports for the November-April period climbed 19 per cent to Rs 87,000 crore up from Rs 73,000 crore a year-ago. Of the total imports, edible oils accounted for 7.82 million tonnes and non-edible oils for 121,000 tonnes, SEA said in a statement. Palm oil imports nearly doubled to 3.97 million tonnes from 2.74 million tonnes a year earlier, while soft oil shipments, which include soybean and sunflower oils, fell to 3.85 million tonnes from 4.13 million tonnes. Indonesia and Malaysia are the primary suppliers of palm oil to India. Argentina is the largest supplier of soy

India is shielding consumers from rising global oil prices, but OMC losses are surging. How long can fuel prices stay frozen before fiscal pressure forces tough decisions?

As oil prices rise globally, Prime Minister Narendra Modi urges Indians to save fuel and delay gold purchases. Is this an early warning sign for India's economy and future price pressures?

Today's opinion wrap explores the economic fallout of the West Asia conflict, digital governance reforms, telecom disaster preparedness and the growing role of AI in policymaking

Data on oil imports from Russia to India cannot be provided as it is exempted under the RTI Act due to its "commercial and confidential" nature, according to the Petroleum Planning and Analysis Cell (PPAC) under the Oil Ministry, with the Central Information Commission too backing it, citing strategic and economic interests of the country. The case relates to an RTI plea seeking details of crude oil imported from Russia to India between June 2022 and June 2025, including a company-wise breakup for firms such as IOCL, BPCL, HPCL, ONGC Videsh, Reliance Industries and Nayara Energy. The Central Public Information Officer (CPIO) had denied the information, stating: "The information pertaining to country-wise and company-wise details of crude oil import is of commercial and confidential nature and is exempted from disclosure under section 8(1) (d&e) of the RTI Act 2005. However, the total quantity and value of crude oil import (both current and historical) can be downloaded from the ..

The Iran-US-Israel conflict effectively shuttered the Strait of Hormuz, the artery of India's oil trade