Page 2 - Crude Oil

India 'well stocked' with crude oil to meet supply disruptions: Puri

India holds around 25 days of crude and petroleum products and may diversify crude sourcing as the Strait of Hormuz faces disruptions, Oil Minister Puri said

India's 100 mn barrel crude stocks can cover 40-45 days if Hormuz disrupted

India holds about 100 million barrels of commercial crude oil stocks - in storage tanks, underground strategic reserves and on ships voyaging towards the country - which could cover roughly 40-45 days of its requirement if flows through the Strait of Hormuz are disrupted, according to Kpler. India imports about 88 per cent of the crude oil it needs - the raw material for fuels such as petrol and diesel - with more than 50 per cent supplied by Middle Eastern countries and transiting the narrow Strait of Hormuz, flows from which have been disrupted amid the Iran crisis. If Middle Eastern crude supply were to halt completely for a temporary period, the immediate impact would be logistical and price-driven, with supply risks intensifying if movement through the Strait of Hormuz is disrupted for longer, said Sumit Ritolia, Lead Research Analyst, Refining & Modeling at Kpler. A closure of Strait of Hormuz would at first impact prompt cargo liftings. "However, refiners typically maintain

Amid Hormuz closure, Indian refiners look at other crude oil sources

Indian refiners are diversifying crude sourcing to bypass the Strait of Hormuz and tapping inventories as the West Asia crisis disrupts key routes that handle over half of India's oil and gas imports

West Asia crisis: Oil rises 9% after Iran war disrupts key shipping routes

Oil jumps up to 13% after Iranian attacks disrupt shipping through the Strait of Hormuz, raising fears of inflation and higher US gasoline prices

Iran war likely to hit India's three-pronged fuel reliance as tensions rise

Timing of the new US-Israel bombing of Iran and Tehran's response couldn't be worse for India

Datanomics: Bullion imports may widen current account deficit in Q4FY26

Surge in gold and silver imports drives January trade deficit to $34.68 billion, raising concerns over a wider current account deficit in Q4FY26

Rupee, govt bonds weaken on muted global risk sentiment; FX hits record

The rupee slipped amid muted global risk appetite and firm US yields, though RBI intervention helped cap losses, while forex reserves hit a new record of $725.7 billion

India's core sector eases to 4% in Jan; steel, cement remain bright spots

India's core sector growth eased to 4% in January, with most industries slowing except steel and cement, while analysts say the trends reflect strong construction and infrastructure activity

Core infra sectors growth slows down to 4% in January: Govt data

India's eight key infrastructure sectors' output slowed down to 4 per cent in January, according to official data released on Friday. It was 5.1 per cent in January 2025 and 4.7 per cent in December 2025. Crude oil and natural gas output recorded negative growth in January. During the April-January period of this fiscal, the output of these sectors grew by 2.8 per cent against 4.5 per cent recorded during the corresponding period of the previous fiscal.

India's crude oil import bill drops 19% in January on softer global prices

India's crude oil import bill fell sharply in January as the Indian basket price averaged $63.08/bbl - $17 lower than last year - easing the country's overall energy burden

We see no shift in India's oil buying stance: Russian Foreign Ministry

Russia's Foreign Ministry on Wednesday said it has "no reason" to believe that India has changed its position on buying Russian oil, which it said is beneficial for both countries and maintains stability in the global hydrocarbons market. The remarks came in the backdrop of Washington's claim that New Delhi has agreed to stop importing Russian crude oil. "We have no reason to believe that India has changed its position on buying Russian hydrocarbons. India's purchase of Russian hydrocarbons benefits both countries and helps maintain stability in the international energy market," Foreign Ministry spokesperson Maria Zakharova said in her weekly briefing. "There is nothing new in the claims of US President Donald Trump, as well as US Secretary of State Marco Rubio, who have grabbed the right to dictate to independent nations," Zakharova said. Following a recent phone conversation between Prime Minister Narendra Modi and United States President Donald Trump, both sides announced a ...

Higher new well gas output seen as key positive for ONGC despite weak Q3

ONGC's Q3 was weighed down by lower crude realisations, but improved gas realisations, rising new well gas share and upcoming projects may bolster medium-term production

Discount on Venezuelan oil to Indian refiners shrinks to lowest on record

Indian refiners see Venezuelan merey crude discounts shrink to record lows amid high freight costs and tighter supply dynamics

Indian envoy, Russian Dy FM meet; discuss 'pressing' bilateral issues

Indian Ambassador Vinay Kumar on Tuesday met Russian Deputy Foreign Minister Andrei Rudenko and discussed "pressing" bilateral and international issues, including the situation in the Asia-Pacific region. The meeting came in the backdrop of Washington's claim that New Delhi has agreed to stop importing Russian crude oil. In a statement, the Russian Foreign Ministry said, "The sides discussed the schedule of upcoming political contacts, pressing bilateral and international issues, including the situation in the Asia-Pacific region." Following a recent phone conversation between Prime Minister Narendra Modi and United States President Donald Trump, both sides announced a reduction of the US tariffs on Indian goods to 18 per cent from 50 per cent. The reduction included the removal of a 25-per cent tariff that Trump had slapped on India in August last year for New Delhi's purchase of Russian oil. India has not yet confirmed or denied Washington's claim that it has committed to stoppi

Russian oil exports to China hit new high in February as India pulls back

India's Russian crude imports are estimated to fall further to 1.159 million bpd in February, Kpler data showed

BPCL unfazed by geopolitics, to buy crude on techno-commercial merit: CMD

BPCL will source crude purely on techno-commercial merit amid geopolitical flux, with talks on Saudi investment in its Andhra refinery, says CMD Sanjay Khanna

Energy market complex; India is wedded to strategic autonomy: Jaishankar

Speaking at the Munich Security Conference, Jaishankar said India's independent decision-making remains central to its approach

Reliance Industries gets US licence to directly buy Venezuela crude oil

India's largest private refiner gets US general licence to purchase Venezuelan crude directly, potentially diversifying its crude slate and resuming imports after previous sanctions eased

Reliance Industries likely to get licence from US for Venezuelan oil

A general licence authorises the purchase, exportation, and sale of Venezuelan-origin oil that has already been extracted, including the refining of such oil

India-US deal: Cost, crude quality may delay gains from US energy upside

Despite a thaw in trade talks, higher costs, logistics challenges and refinery constraints may limit any near-term boost in India's crude oil, gas and LPG imports from the US