India Oil Imports

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

Best of BS Opinion: India-Nordic Summit marks wider shift in foreign policy

Today's opinion wrap examines the Bajaj group's legacy, India's Nordic outreach, oil trade vulnerabilities, the US Federal Reserve's independence and a book on Chapal Bhaduri

As India's thirst for edible oil grows, curbing imports seems unworkable

India's edible oil demand continues to rise on the back of population growth and improving incomes, making import dependence difficult to curb unless domestic oilseed production rises sharply

Centre weighing import duty hike for edible oil to support farmers

The deliberations come as the government steps up efforts to curb foreign-exchange outflows, which have put pressure on the rupee - Asia's worst-performing currency this year

India can ride out crude supply disruption after Russian oil waiver ends

In May, flows are expected to come in at close to 1.9 million barrels a day, close to peak levels - though that still includes a period under the US permit that was allowed to expire over the weekend

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

Why India's ₹37,500 cr coal gasification push matters for its energy future

India's ₹37,500 crore coal gasification scheme aims to cut import dependence, boost industrial growth and strengthen energy security by turning domestic coal into strategic fuel and chemicals

India's vegetable oil imports jump 13% in H1 2025-26 on palm oil surge

India's vegetable oil imports rose 13 per cent to 7.94 million tonnes in the first six months of the 2025-26 oil year, driven by a sharp surge in palm oil shipments, industry body the Solvent Extractors Association of India (SEA) said on Wednesday. The world's largest cooking oil consumer imported 7.04 million tonnes in the same period a year earlier. India's oil year runs from November to October. In value terms, imports for the November-April period climbed 19 per cent to Rs 87,000 crore up from Rs 73,000 crore a year-ago. Of the total imports, edible oils accounted for 7.82 million tonnes and non-edible oils for 121,000 tonnes, SEA said in a statement. Palm oil imports nearly doubled to 3.97 million tonnes from 2.74 million tonnes a year earlier, while soft oil shipments, which include soybean and sunflower oils, fell to 3.85 million tonnes from 4.13 million tonnes. Indonesia and Malaysia are the primary suppliers of palm oil to India. Argentina is the largest supplier of soy

OMCs bleed ₹30,000 crore a month: How long can India hold down fuel prices?

India is shielding consumers from rising global oil prices, but OMC losses are surging. How long can fuel prices stay frozen before fiscal pressure forces tough decisions?

What PM Modi's fuel-saving, WFH appeal signals for India's economy

As oil prices rise globally, Prime Minister Narendra Modi urges Indians to save fuel and delay gold purchases. Is this an early warning sign for India's economy and future price pressures?

Best of BS Opinion: Credit guarantee scheme will help small businesses

Today's opinion wrap explores the economic fallout of the West Asia conflict, digital governance reforms, telecom disaster preparedness and the growing role of AI in policymaking

Russian oil import data 'confidential', exempt under RTI, says CIC

Data on oil imports from Russia to India cannot be provided as it is exempted under the RTI Act due to its "commercial and confidential" nature, according to the Petroleum Planning and Analysis Cell (PPAC) under the Oil Ministry, with the Central Information Commission too backing it, citing strategic and economic interests of the country. The case relates to an RTI plea seeking details of crude oil imported from Russia to India between June 2022 and June 2025, including a company-wise breakup for firms such as IOCL, BPCL, HPCL, ONGC Videsh, Reliance Industries and Nayara Energy. The Central Public Information Officer (CPIO) had denied the information, stating: "The information pertaining to country-wise and company-wise details of crude oil import is of commercial and confidential nature and is exempted from disclosure under section 8(1) (d&e) of the RTI Act 2005. However, the total quantity and value of crude oil import (both current and historical) can be downloaded from the ..

Global crises reveal the limits of India's oil diversification strategy

The Iran-US-Israel conflict effectively shuttered the Strait of Hormuz, the artery of India's oil trade

US extends waiver allowing India, others to buy Russian oil till May 16

The waiver comes despite earlier US reluctance, as war-linked supply disruptions and Strait of Hormuz curbs push oil prices higher and test Western efforts to restrict Russia's revenues

Refiners likely used yuan through ICICI Bank for payment of Iranian oil

Last month, Washington unveiled ​30-day waivers on US sanctions for the purchase of Russian and Iranian oil at sea in ‌an attempt to ease prices that were driven up by the US-Israeli war on Iran

India receives Iranian oil for first time in 7 years before US waiver ends

Import-dependent, price-sensitive India has been acutely impacted by the upheaval in global energy flows since US and Israeli strikes on Iran began at the end of February

India's Russian oil imports more than triple to 5.3 bn euro in Mar

India's crude oil purchases from Russia more than tripled to 5.3 billion euro in March as volumes doubled and a surge in oil prices pushed up the import bill. European think tank Centre for Research on Energy and Clean Air (CREA), in a report, said after a drop in purchases in February, India was back to a buying binge in March. "India was the second-highest buyer of Russian fossil fuels in March 2026, importing a total of EUR 5.8 billion of Russian hydrocarbons. Crude oil products constituted 91 per cent of India's purchases, totalling EUR 5.3 billion," it said. Coal (EUR 337 million) and oil products (EUR 178.5 million) constituted the remainder of their monthly imports. In February, India was the third largest importer, purchasing Russian hydrocarbons worth 1.8 billion euro. Crude oil constituted the largest share at 81 per cent (EUR 1.4 billion), followed by coal (EUR 223 million) and oil products (EUR 121 million). "While India's total crude imports recorded a 4 per cent ...

Over half of Indian households faced LPG supply issues in 5 weeks: Survey

A LocalCircles survey found that 37 per cent of respondents faced delays in delivery, while 25 per cent said they struggled to book a cylinder

India returns to buying Venezuelan oil to ease supply crunch amid Iran war

India is set to import the most oil from Venezuela in almost six years as over 12 million barrels head to its west coast, reflecting a strategic shift amid West Asia supply disruptions

Govt says India has bought Iranian oil, rejects reports of payment issues

Amid vessel-diversion rumours, the petroleum ministry also said that Indian refiners have secured crude and LPG imports, including from Iran