Page 3 - India Crude Oil

Explained: How have India's crude import sources changed over time?

The top three countries have changed significantly before and after the military action in Ukraine

Iraq leads with discounts as W Asia retains top slot in Indian oil market

Iraq, India's biggest crude oil supplier, maintained its lead over Russia in August, supplying 12-20 per cent more to India in the first 30 days of the month

US urges India to join Western crude price cap coalition against Russia

US dy secretary of treasury Wally Adeyemo meet FM Sitharaman during the final lap of his three-day trip to India, after visiting RBI governor Shaktikanta Das on Thursday

India's crude oil imports from US dip by one million tonnes in June quarter

At the same time, share of Russian oil in India's crude basket rose from 2.2% in FY22 to 12.9% in the first quarter of FY22

Jaishankar defends India's crude import from Russia, calls it 'best deal'

EAM S Jaishankar, who is in Thailand, defended India's crude oil imports from Russia by terming it the "best deal" for the country

Centre garners Rs 3,000 crore from windfall tax on oil and gas firms

It is likely to continue with the levy till the Indian basket of crude is above $80 a barrel

Iraq discounts heavily to muscle out cheaper Russian oil in India

After a dip in market share, suppliers from the West Asian nation are discounting heavily to muscle out cheaper Russian oil

Nuberg Engineering to build Rs 650 cr SRU project at IOCL's Koyali refinery

Last year IOC had signed an MoU with Gujarat for adding petrochemical and lube plants to its previously announced plans to expand crude oil processing capacity at the refinery

MCX Crude Oil futures may drop to Rs 7,100; Natural Gas in oversold zone

The MCX Crude Oil has near support at Rs 7,740, below which it can slide towards the 200-DMA at Rs 7,100. Natural Gas may test Rs 410-odd level, while a bounce to Rs 500-odd level cannot be ruled out.

Russia may be India's biggest crude supplier in June, a historic first

Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude

Not India-related issue, says MEA on procurement of Russian crude oil

India once again asserted on Thursday that its procurement of crude oil from Russia is guided by its energy security requirements.

India's imports of cheap Russian crude surge since Ukraine invasion: Data

India received more than 24 mn barrels of Russian crude this month, up from 7.2 mn barrels in April, and is set to receive about 28 mn barrels in June, according to Refinitiv Eikon oil flows

Best of BS Opinion: Crude economics, passive approach, and more

Here are the top BS Opinion articles of the day

India's crude oil production falls 1% in April on account of lower output

India's crude oil production fell 1 per cent in April after lower output from fields operated by the private sector wiped away gains by state-owned firms such as ONGC, official data showed Tuesday.

MCX Crude Oil futures seem range-bound; Bias positive for Natural Gas

The MCX Natural Gas May futures are likely to trade with a bullish bias in May as long as the commodity holds above Rs 576-level.

Reliance buys 15 mn barrels of Russian oil amid Ukraine war: Report

Western sanctions against Russia since its Ukraine invasion have prompted many oil importers to shun trade with Moscow.

India on its way to becoming global energy superpower: Hardeep Singh Puri

"Global energy superpower means we will set the pace for global consumption, becoming a significant producer by way of exploration and production of different sources of energy," he added

Govt indicates readiness to release more oil reserves amid Ukraine crisis

'Govt of India is ready to take all appropriate action, as deemed fit, for mitigating market volatility and calming the rise in crude oil prices,' MoS Rameswar Teli said

Indian Oil buys 3 million barrels Russian Urals crude via tender: Report

IOC said in late February it would buy Russian oil on delivered basis to avoid any complication relating to fixing vessels and insurance

India's crude oil production drops 2.4% in January to 2,511 TMT

India's crude oil production fell to 2,511.66 thousand metric tonnes (TMT) in January 2022, which is 2.40 per cent lower than the output registered during the same month last year and 6.04 per cent lower than the official target for the month, the government data showed on Wednesday.Cumulative crude oil production during the April-January period of the current financial year stood at 24890.07 TMT, which is 2.61 per cent lower than the output registered during the corresponding period of 2020-21, according to data released by the Ministry of Petroleum & Natural Gas.The cumulative output for the April-January 2021-22 is 4.63 per cent lower than the official target for the period.Crude oil production by ONGC (Oil and Natural Gas Corporation) in the nomination block during January 2022 was 1662.79 TMT, which is 3.68 per cent lower than the target of the month and 3.09 per cent lower when compared with production of January 2021.Cumulative crude oil production by ONGC during ...