India Crude Oil

India's clean energy shift may create new strategic dependencies: Report

India's current strategic petroleum reserves are equivalent to just about 9-10 days of the country's net crude imports, far below other major import-dependent countries, a new report revealed on Wednesday. The report released by Council on Energy, Environment and Water (CEEW) said other countries that rely heavily on crude imports such as Japan and South Korea maintain reserves sufficient for over 200 days. The report, 'How Secure is India's Energy Future? Assessing Accessibility, Reliability, and Affordability, also noted that over 85 per cent of India's crude oil imports come from just six countries, including Russia and key West Asian suppliers, limiting flexibility supply shocks. Hemant Mallya, fellow at the CEEW, said, "Disruptions in crude oil, LNG, LPG, coal, or key shipping routes can quickly affect cooking costs, transport fuel prices, fertiliser subsidies, industrial competitiveness, and inflation." For gas, India imports nearly half its supply as LNG but has no dedicat

Why easing OMC losses may not translate into cheaper fuel anytime soon

Fuel prices were raised to reduce losses at state-run oil companies, but despite easing pressure after lower crude prices, consumers may not see immediate relief

West Asia conflict: From oil to inflation, how did the crisis impact India?

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

From crude to pump: How petrol is priced in India and who gets what share

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

Venezuela, Brazil among India's top 5 crude oil suppliers in April

Supply disruptions in West Asia and Strait of Hormuz closure prompt India to recalibrate sourcing, with Venezuela and Brazil replacing Iraq and the US in April

India's crude imports fall 13% as Hormuz disruption cuts West Asia supply

Imports from Russia nearly doubled from February to 2.25 million bpd in March while shipments from the West Asia slumped 61 per cent to 1.18 million bpd

West Asia war: Trump says conflict may end in 2-3 weeks; Brent at $104

President Donald Trump said the West Asia conflict could end in two to three weeks, while Iran signalled it is open to ending hostilities if it receives firm guarantees against future strikes

West Asia war updates: Iran moves to charge Hormuz transit; Brent at $111

Iran has approved a plan to impose tolls on ships passing through the Strait of Hormuz amid the ongoing West Asia war, raising concerns over global oil supply as Brent crude trades near $111 a barrel

Over 4 in 10 households face LPG delays; black market sales rise: Survey

A new LocalCircles survey found that 43% of household consumers reported experiencing LPG delays in the last week, indicating that nearly half of the respondents struggled to get timely deliveries

Cong slams PM over rising oil, gas import dependence amid supply concerns

The Congress on Friday attacked Prime Minister Narendra Modi over India's increasing dependence on crude oil, LPG and natural gas imports. "The gas grandly promised by Mr Modi has remained that -- gas," Congress general secretary in-charge of communications Jairam Ramesh said on X, pointing to India's dependence on natural gas imports. "Between 2014-15 and 2024-25, India's dependence on crude oil imports went up from 84% to 90%. Between 2014-15 and 2024-25, India's dependence on LPG imports went up from 46% to 62%," Ramesh said, adding that "all this when the mantra was supposed to be Atmanirbharta, or self-reliance. The natural gas story is murkier, he claimed. "On June 26, 2005, the then CM of Gujarat (Modi) boasted that the Gujarat State Petroleum Corporation had discovered India's biggest gas reserve in the deep waters of the Krishna-Godavari river basin. Mr Modi announced that this would make India energy independent," Ramesh said. He claimed that five CAG (Comptroller and ..

Indian refiners buy 60 mn barrels of Russian oil for April amid Iran war

The cargoes were booked at premiums of $5 to $15 a barrel to Brent

Targeting shipping, endangering civilian crews unacceptable: India at IMO

India warns against attacks on commercial ships at IMO meet, calls for restraint and dialogue and raises concerns over safety of seafarers and risks to global trade routes

Why India built crude reserves but not LPG buffers despite demand surge

India built crude reserves for energy security but LPG was never treated the same way even as demand surged. Experts explain what held back storage planning

No fuel shortage in India, refineries running at full capacity, says govt

West Asia crisis: The government said India has adequate crude oil supplies and refineries are running at full capacity; consumers with both PNG and LPG connections have been asked to give up LPG

'Will try our best': Iran on passage for India-flagged vessels via Hormuz

As several India-flagged vessels remain stranded in the Strait of Hormuz due to the ongoing conflict in West Asia, Iran's Ambassador to India, Mohammad Fathali, on Friday said that "we will try our best" to resolve the issue. Interacting with reporters on the sidelines of an event here, Fathali said, "We believe that Iran and India are friends. We have common interests, we have common faith." As the war entered its fourteenth day, with no end in sight, the Iranian envoy said, "Iran doesn't want war, but Iran is ready for war." While US President Donald Trump told reporters on Wednesday that "we're not finished yet", Iran continued to remain defiant and used the choking of the strategic Strait of Hormuz as leverage against the US-Israel combine. The Strait of Hormuz is a strategic narrow sea lane between the Persian Gulf and the Gulf of Oman. Hundreds of ships have been stranded in this maritime lane since the US and Israel launched attacks on Iran, and Tehran targeted the region i

LPG production up 30%, fuel supply stable, says govt amid West Asia crisis

The government said India has enough petrol, diesel and crude stocks despite the West Asia conflict; LPG output has risen 30 per cent and people are urged not to panic buy fuel

India's crude supply secure, LPG production increased: Hardeep Puri

Minister says India secured alternative energy supplies amid West Asia crisis

Why Reliance's Jamnagar refinery makes it key to Trump's Texas oil plan

Trump announced a Texas refinery with investment from Reliance, the first such US project in 50 years. Jamnagar's world-leading Nelson Complexity Index may explain why RIL was chosen

Blatant insult: Cong slams Centre over US' remarks on Russian oil waiver

Condemning the US remarks, Congress called it a blatant insult to India's sovereignty and dignity

India taps alternative crude oil supplies as West Asia conflict drags on

Indian refiners have begun negotiating for additional crude cargoes from the US, Russia and West Africa to ensure supplies remain adequate in the event of the Middle East conflict drags on for a longer period, industry officials and analysts said. Refineries, which convert crude oil into fuels like petrol and diesel, have deferred planned maintenance shutdowns and are maintaining normal processing rates to create buffers that could meet the country's requirement in the near term, they said. India imports about 88 per cent of its crude oil requirement, with roughly half of those supplies in February passing through the Strait of Hormuz, the narrow sea lane between Iran and Oman that serves as a key energy transit route for global markets. The recent military strikes by the United States and Israel on Iran, and Tehran's retaliatory attacks on US bases in neighbouring countries as well as Israel, have sharply escalated tensions in the region, leading to a near halt in tanker movements