Oil Export

Short-term weakness masks the supply crunch building later in the decade as demand stays firm and forward prices mislead again

The investment will expand the company's core operations in oil refining and fuel marketing, along with ventures in petrochemicals, natural gas, and renewable energy

Edible oil industry body SEA has demanded that the government lift the ban on export of De-Oiled Rice Bran (DORB) to protect domestic processors and enhance farmers income. At present, the ban is valid till September 2025. In a statement on Thursday, the Solvent Extractors' Association of India (SEA) said it has appealed to Prime Minister Narendra Modi and Home Minister Amit Shah to withdraw the ongoing ban on the export of DORB. "SEA has urged the government not to extend the ban beyond September 30, 2025," the association said. It has written a letter to the prime minister, home minister as well as Food and Consumer Affairs Minister Pralhad Joshi, Commerce Minister Piyush Goyal, Agriculture Minister Shivraj Singh Chouhan and Fisheries, Animal Husbandry and Dairying Minister Rajiv Ranjan Singh. Before the ban that was imposed in 2023, the SEA noted that India exported 5-6 lakh tonnes of DORB annually, worth about Rs 1,000 crore, mainly to Asian countries, to stabilise feed and mi

The government has cut the minimum export price (MEP) on natural honey from USD 2,000 per tonne to USD 1,400 per tonne till the end of this year, according to a notification. Exports below this MEP are not permitted. "MEP on natural honey is revised from USD 2,000 per metric tonne to USD 1,400 per metric tonne with immediate effect, till December 31, 2025," the Directorate General of Foreign Trade (DGFT) has said in a notification. The MEP was introduced in March 2024. The major exporting destinations are the US, UAE, Saudi Arabia and Qatar. The Centre has rolled out the National Beekeeping and Honey Mission (NBHM) for promoting scientific beekeeping for the holistic growth of the sector. The main honey producing states are Uttar Pradesh, West Bengal, Punjab, Bihar and Rajasthan. In 2023-24, India exported the commodity worth USD 177.52 million.

Pakistan's untapped shale reserves have long intrigued energy analysts. A 2015 US report had already mapped billions of barrels underground

Mukesh Ambani-led Reliance Industries, India's largest company by market capitalisation, dropped 2 per cent, contributing significantly to the sector's weakness

India's petroleum product exports worth USD 15 billion to the European Union (EU) may be at risk as Brussels moves to restrict imports of Russian crude oil refined in third countries, economic think tank GTRI said. The 18th package of sanctions by the 27-nation EU included a set of measures largely aimed at curbing the revenues of Russia's oil and energy sector, such as an import ban on refined petroleum products made from Russian crude oil and coming from any third country. The Global Trade Research Initiative (GTRI) said that a central component of the package is a ban on the import of refined petroleum products made from Russian crude and exported via third countries, excluding only a select few allies like the US, UK, Canada, and Switzerland. This measure will hurt nations such as India, Turkey, and the UAE, which have been refining Russian crude and selling diesel, petrol, and jet fuel to Europe, it said. "India's USD 5 billion exports of petroleum products to the EU are at ri

Major oil producers are pointing to signs of better economic growth in the second half of the year while data from China showed consistent growth

Russian flows to India reached 2.1 million barrels a day in June, the biggest monthly intake in nearly a year, and close to the record set in May 2023, data from Kpler show

Significant volatility in the second quarter had global benchmark Brent crude futures dropping to a four-year low of $60.23 a barrel on May 5 and then surging to $78.85 on June 19

S&P expects global oil supply to exceed demand by 1.2 million b/d in H2 2025 and Brent to average $50-$60 per barrel as OPEC+ unwinds cuts and demand growth remains weak

Total imports from the US stood at $8.9 billion in April-May 2025, up from $7 billion in the same period a year earlier, Indian customs data showed

The Strait of Hormuz is still critical for India even though we now import much lower than half of our crude inbound shipments through this route

But Kotak Institutional Equities believes market concerns are driving oil prices and points to sufficient OPEC+ spare capacity and well-supplied global inventories

Asia buys more than four-fifths of all the crude produced in the Middle East, and 90 per cent of that goes through the Strait of Hormuz

Oil prices fell to four-year lows as an Opec+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain

The conflict is expected to escalate in the coming days, putting further strain on global oil supplies in the restive West Asian region and making crude oil expensive

Venezuela's oil industry is facing its biggest threat since the first Trump administration essentially banned US imports of oil from the country in 2019

The slogan 'Drill, baby, drill' was coined in 2008 by Michael Steele, a Republican politician and the first African-American lieutenant governor of Maryland

As Indian companies begin talks with Saudi Arabia and Abu Dhabi this week, traders say discussions between refiners and the OPEC producers will be tense