Page 12 - India Oil Imports

Govt owned refiners increase Russian oil imports despite G7 price cap

The Indian imports from Russia increased due to a lower demand from China leaving more oil to be supplied to the Indian markets, an industry expert said

Indian Oil, RIL tap Iraqi oil wells amid surging cost of Russian Urals

This reflects India's growing reliance on Russian grades while balancing them out with purchases from Iran suppliers

India imports of Russian, Iraqi oil rebound in Sept after hitting 7-mth low

India imported about 1.55 million barrels per day (bpd) of Russian oil in September, 16% more than in August, while imports from Iraq increased by 17% to about 1.1 million bpd, LSEG data showed

After lower sales in August, Russia ups discount on crude sale to India

Higher discounts on Russian oil this month may help Indian refiners reduce crude sourcing costs and trim fuel marketing losses even as Brent crude crosses $95/barrel, weakening the country's finances

'Every country has right to...': WH official on India buying Russian oil

This remark came upon the query being asked about India buying oil from Russia could be one of the agenda of US President Joe Biden's discussion with Prime Minister Narendra Modi

India's Russia oil imports fall to 7-mth low, Saudi jumps, shows trade flow

Refiners in India have been snapping up discounted Russian oil after some Western buyers shunned purchases over Russia's full-scale invasion of Ukraine in February last year

India will buy oil from anyone who offers lowest prices: Hardeep Singh Puri

India, the world's third-biggest oil importer and consumer, gets more than 80% of its oil from overseas

India's overdrive to trim fuel output investments threatens supply security

Oil ministry's plans involve a rapid exit from fuels without considering implications, writes S Dinakar

Oil down on weak economic data, US Fed chief's speech in spotlight

Brent crude fell 19 cents, or 0.2%, to $83.02 a barrel by 0619 GMT, while U.S. West Texas Intermediate crude dropped 24 cents, or 0.3%, to $78.65 a barrel

Oil dependence a key challenge for India: HDFC Bank director Keki Mistry

Mistry said that the trajectory of oil prices always needs to be watched as India imports 85 per cent of its oil requirements and is the world's third-largest oil importer

As Russian discounts erode, Indian oil refiners may shift back to the Gulf

Iraq and UAE are willing to offer credits for longer periods of time, and they are also located closer to the Indian shores

Russia oil discount to India shrinks to $4, delivery charges remain opaque

The steep discounts on Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain 'opaque' and higher than normal, sources said. Russia bills Indian refiners at a price shade less than the USD 60 per barrel price cap imposed by the West but charges anything between USD 11 to USD 19 per barrel, twice the normal rate, for delivery from the Baltic and Black Sea to the west coast, three sources with knowledge of the matter said. The USD 11-19 per barrel shipping costs from the Russian ports to India - some of it on the 100+ tankers reportedly acquired by Russian actors for a shadow fleet - are higher than rates for comparable distances, such as a voyage from the Persian Gulf to Rotterdam. Following Moscow's invasion of Ukraine in February last year, Russian oil was sanctioned and shunned by European buyers and some in Asia, such as Japan. This led to Russian Urals crude being traded at a disco

Indian refiners start yuan payments for Russian oil imports: Report

China has also shifted to the yuan for most of its energy imports from Russia, which overtook Saudi Arabia to become China's top crude supplier in the first quarter this year

India's oil imports from Russia climb to new peak as buying limit nears

Daily volumes climbed to 2.2 million barrels a day in June, rising for a 10th month, according to Viktor Katona, the head of crude analysis at Kpler

A crude shock from Moscow: Testing times for India's energy security

Russia now accounts for a little less than half of India's oil imports but the current political instability raises serious questions about the long-term reliability of supply

Russian oil import scales new high of 1.95 mn barrels per day in May

India, the world's third biggest oil consumer and importer, buys more than 80% of its oil from overseas markets

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

Russian crude oil imports by China, India hit all-time high in May

However, they are unlikely to deepen supply cuts at the Sunday meeting despite lower prices, four sources from the alliance told Reuters

OPEC+ output cut may cause higher prices, push up India's import bill: IEA

The International Energy Agency (IEA) on Tuesday termed the decision of OPEC+ to cut oil production as "risky for the global economy", saying it may push up already high prices, leading to higher import bills for nations like India. Global oil markets were already set to tighten in the second half of 2023, with the potential for a substantial supply deficit to emerge, said Fatih Birol, head of the Paris-based energy watchdog. Talking to reporters after a bilateral meeting with India's Commerce and Industry Minister Piyush Goyal here, he said, "The cut of the additional production would mean that we have all the reasons to believe that there could be an upward pressure on the prices". "At this juncture of time when the global economy is still very fragile and many emerging countries have difficulties with economic performance, I found this decision risky for the global economy," he noted. Asked if oil prices could go past USD 100 per barrel again, he said, "I think we are all the da

India's edible oil imports up 12% to 1.098 million tonnes in February

India's edible oil imports rose 12 per cent year-on-year in February to 10.98 lakh tonnes on higher imports of crude palm oil, according to industry body SEA. In a statement, the Solvent Extractors' Association of India (SEA) on Wednesday said that edible oil imports rose to 10,98,475 tonnes in February from 9,83,608 tonnes in the year-ago period. Imports of non-edible oil fell to 16,006 tonnes in February from 36,389 tonnes in the same month last year. Total imports of vegetable oils (edible oils and non-edible oils) went up 9 per cent to 11,14,481 tonnes in February this year from 10,19,997 tonnes a year ago. During November 2022 to February 2023 period, imports of edible oils rose to 58,44,765 tonnes from 45,91,220 tonnes in the corresponding period of the previous oil marketing year. Oil marketing year runs from November to October. Imports of non-edible oils fell to 43,135 tonnes in the first four months of 2022-23 oil year from 99,938 tonnes in the year-ago period. Total i