Page 2 - Crude Oil

A wave of oil from the Persian Gulf set to leave Asian refiners swamped

Around 31 supertankers, capable of carrying about 62 million barrels of crude, are stuck inside the Persian Gulf and set to sail out once the waterway opens up

Fuel prices can't be cut immediately after global rates fall: Suresh Gopi

Union Minister Suresh Gopi on Thursday said that the fuel prices cannot be reduced immediately when the rate of global crude comes down as it involves many factors, including the time taken for the cheaper oil to reach India. Gopi, the Union Minister of State for Petroleum, Natural Gas and Tourism, said of the recent hike in fuel prices, only an increase of around Rs 3.94 per litre has made an impact, but it cannot be immediately rolled back just because the cost of crude has gone down globally. "It will take time as the cheaper crude has to be transported to India via Strait of Hormuz, which will see an excessive traffic of ship movement. So things will have to be normalised," he told reporters here. He further said that since the war broke out in West Asia in February this year, the oil companies were impacted in a big way and the central government absorbed the impact to a good extent. "By absorbing the impact, the Centre lost Rs 12,000 crore. None of the states reduced their ..

CEEW flags risks to India's energy security from import exposure

The think tank recommends diversifying crude and LNG suppliers, expanding strategic reserves and modernising refineries to reduce vulnerabilities to supply shocks

Back to the cradle of India's oil industry amid Northeast energy push

A tripartite pact - amid the promise of removing Afspa from almost all of the Northeast - revives hydrocarbon exploration along the Assam-Nagaland border after decades of dormancy

India has adequate crude oil, LPG and gas stocks, says Hardeep Puri

Petroleum minister says fuel prices in India fell 3.1 per cent from May 2022 to May 2026 even as rates rose sharply in several countries

Datanomics: The collapse and return of Venezuela oil trade with India

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

Rupee appreciates beyond 95 briefly as dollar positions unwind on oil slide

The rupee appreciated sharply and government bond yields eased as lower crude oil prices and hopes of a US-Iran agreement improved investor sentiment

'Bear beneath the barrel': Mirae Asset sees weak demand limiting oil rally

The path of least resistance for Brent over the next two quarters appears skewed to the downside, with Brent prices likely drifting below $90/bbl

Indian refiners secure crude, LPG supplies till August despite Iran war

Indian refiners, including Indian Oil Corp and Mangalore Refinery and Petrochemicals Ltd, ‌have also purchased crude through spot tenders in recent weeks

Govt restores royalty rate on crude oil from nomination blocks to 16.66%

Royalty on crude produced from onland nomination and pre-NELP blocks will again be calculated on a cum-royalty basis, reversing a key May 8 reform

India-US energy ties can help achieve $500 bn trade goal by 2030: Report

A USIBC-Grant Thornton Bharat report highlights opportunities across LNG, crude oil and petrochemicals to deepen trade, investment and energy security ties

Royalty rate cuts aim to reduce costs, boost oil and gas exploration

While lower royalties are expected to improve project viability and attract investment, concerns remain over poor prospectivity data, limited discoveries, and competition from more attractive regions

A slippery slope: Why India must prioritise growth over rupee fears

High oil prices, a weakening rupee and global capital shifts demand bold policymaking to protect growth and build resilience against external shocks

Indian Oil Corp buys 5 million barrels of crude from Africa, West Asia

IOC purchased Angola's Kissanje and Nemba crude for delivery to its Paradip refinery

India's investment slowdown is a fallout of deeper structural shifts

Taken together, the Indian economy requires some mechanism for stimulating private investment in the real economy

India turns to Latin America, Africa for crude oil amid West Asia crisis

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

Revenue channels: RBI's surplus transfer will not ease fiscal pressure

The crisis in West Asia and the resultant surge in prices of crude oil have significantly complicated the overall Budget arithmetic

Rising crude oil prices a challenge for external sector: RBI's report

RBI warns elevated crude oil prices and supply pressures could fuel inflation risks and strain India's external sector despite resilient growth

India's gains crimped as US changes terms in Russian oil waiver extension

Fresh US waiver terms may curb Russian oil supplies to India as sanctioned cargo availability shrinks and refiners face mounting geopolitical uncertainty

Crude prices could influence growth, inflation: EAC-PM chief S Mahendra Dev

EAC-PM Chairman S Mahendra Dev said higher crude prices and supply disruptions from the West Asia conflict could weigh on India's growth and inflation