Page 2 - India Oil Import

India may see lower savings from Russian oil in 2024 as discounts dip

Russian imports accounted for 39% of India's overall crude imports last year from 16% in 2022

Indian refiners seek to boost Middle East supplies as attack delays cargoes

Shippers turned cautious about entering the Red Sea in recent weeks due to multiple attacks by Yemen's Iran-backed Houthi rebels

India to resume Venezuelan oil purchases, says Hardeep Singh Puri

India is willing to buy oil from any country that is not sanctioned, the minister added

India plans strategic reserves by storing gas in depleted wells: GAIL

The strategic facilities would be built in phases in India's western and northeastern regions with an initial capacity to store three to four billion cubic meters (bcm) of gas

India's palm oil imports hit 27-month low, buyers pick cheaper soft oils

India buys palm oil mainly from Indonesia, Malaysia - the top two producers - and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine

Crack down on 'resale' of Russia oil: EU foreign policy chief Josep Borrell

India has emerged in the past year as a top buyer of Russian oil following the war

SEA requests govt to clear shipments held up at ports due to customs issues

Edible oils body SEA on Wednesday said crude sunflower and soyabean oil shipments are held up at ports due to customs clearances issues and requested the government to address the matter immediately, else it may lead to shortages and rise in retail prices. The government had permitted tariff rate quota (TRQ) during the 2022-23 financial year for import of crude sunflower and soyabean oil at nil duty and the shipments were allowed for clearance till June 20, 2023, provided the 'bill of lading date' was March 31, it said. "Unfortunately, the Customs is insisting for 'Bill of Entry' and not accepting 'Bill of Lading date', hence shipments are held up since 1st April 2023," Solvent Extractors Association (SEA) President Ajay Jhunjhunwala said, and cautioned that this "may also lead to shortage and also rise in the price of edible oils." The Association has strongly taken up the issue with the food and commerce ministries and requested them to allow the shipments of these two edible oils

Making enough effort to ensure economy remains buoyant: FM Sitharaman

'Weakness in demand for goods, services activity could be a drag on recovery'

Oil and Natural Gas Co to bet on deepwater oil as India seeks to cut import

India, with a fast-growing appetite for crude, is eager to reduce its fuel import bill and bolster energy security, and has encouraged companies like state-controlled ONGC to do more

India's Feb crude oil imports jump 8% as demand hits over 2 decade high

India's imports of crude oil in February rose about 8% from a year earlier, government data showed on Wednesday, as fuel demand hit over 2-decade highs in the world's third-biggest oil importer

The $60 price cap on Russian oil may not hit Indian purchases: Report

India mostly buys the Urals crude from Russia. This grade made up 80% of India's oil imports last month

Reliance makes rare buy of Russian naphtha, ups fuel oil imports: Data

India imported about 410,000 tonnes of naphtha, used for making petrochemicals, in Sept-Oct, the Refinitiv data showed

India to produce 25% of its oil demand by 2030, says Hardeep Puri

Indian petroleum industry is at the cusp of opportunity and will be able to produce 25 per cent of its crude oil demand by 2030, Union Petroleum and Urban Affairs Minister Hardeep Singh Puri said.

Saudi Arabia overtakes Russia to be India's no 2 oil supplier in August

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August

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

India's Russian imports up 3.5 times on oil buys despite Western pressure

It's now the 4th largest petroleum supplier for India with exports worth $1.3 bn in April

India asks OPEC to correct anomalies in crude price for different regions

India said oil-cartel OPEC needs to address anomalies in the crude price differential for different regions.

India's import of US oil jumps 10-fold to 250,000 bpd: US Energy Secretary

India began importing crude oil from the US in 2017 as it looked to diversify its import basket beyond the OPEC nations

India on track to achieve 10% cut in crude oil import by 2022: Pradhan

The government is focusing on increased use of bio-fuels and raising domestic crude oil and gas production to reduce imports

India asks OPEC not to cut oil production; seeks better commercial terms

OPEC nations led by Iraq and Saudi Arabia supply more than 80% of India's oil needs