Fresh US waiver terms may curb Russian oil supplies to India as sanctioned cargo availability shrinks and refiners face mounting geopolitical uncertainty
March crude procurement costs for Indian OMCs remained steady year-on-year in dollar terms and rose only slightly from February, despite the West Asia conflict
Fears over the expiry of a US sanctions waiver pushed India's Russian oil imports to record highs as refiners raced to secure supplies
India wasn't invited to a just-concluded climate conference in Colombia but that doesn't mean it's not moving on its renewables plans
The government has imposed a special additional excise duty to discourage exports. Crude oil supplies are lower, so is refining throughput
Sharp decline in spot crude premiums offsets surge in Brent prices, offering partial relief to Indian oil marketing companies as global supply disruptions reshape pricing dynamics
Experts said the crisis in West Asia is likely to prompt producers like Saudi Arabia, the UAE and Qatar to participate in building oil reserves in major consuming nations like India
West Asia conflict and strained global supplies tighten India's oil cushion, raising risks of a crude crunch despite refiners tapping inventories
The Iran-US-Israel conflict effectively shuttered the Strait of Hormuz, the artery of India's oil trade
Importers explore cargoes from Russia and Norway as Qatar supply disruptions and geopolitical tensions force diversification and raise questions over sanctioned LNG sourcing
Old formula did not represent the price paid by Indian refiners
Shipping is the biggest obstacle for India in source fuels
A global supply squeeze is nudging India faster towards renewables, even as China stays far ahead
Newer LNG terminals face viability risks as West Asia conflict cuts supplies, raises prices and weakens demand, even as India expands import capacity and dependence on overseas gas
India emerges as the largest energy transition market outside China, needing up to $300 billion as demand surges and global investors step in
Latest sanctions by EU banning imports of fuels made from Russian crude oil from January has hurt India's sales, say industry sources
Indian refiners find the Iran oil supply chain difficult to navigate, especially within the limited waiver window set by Washington for the oil to be delivered and paid for
On the positive side, a new route, bypassing Hormuz, opened for India's LPG supplies from Saudi Arabia. But there is a supply shortage for March and a much bigger one for April as of date
System adds hundreds of millions of dollars to India's fuel import bill; ministry aware
War-hit routes and contract-locked supplies squeeze availability