Page 6 - India Oil Imports

Saudi oil giant ups crude prices for Asian buyers amid tightening supply

The world's top oil exporter Saudi Aramco announced its first crude oil price hike in three months

India's crude imports could face problems in 2025 due to geopolitical risks

The US Energy Information Administration predicted global oil price benchmark Brent to average $73.58 per barrel in 2025 in its latest short-term energy outlook

Middle East share of India's Nov oil imports at 9-month high; Russia down

Refiners in India have been gorging on cheaper Russian oil despite problems posed by sanctions aimed at reducing Moscow's oil revenue

India's import of Russian oil drops in Nov to lowest level since June 2022

India's import of Russian crude oil dropped in November to its lowest level since June 2022 but the Kremlin continues to be the biggest source of oil for India, according to a monthly tracker report of a European think tank. India became the second biggest buyer of Russian crude oil since Moscow invaded Ukraine in February 2022, with purchases rising from less than one per cent of the total oil imported to almost 40 per cent of the country's total oil purchases. The rise was primarily because the Russian crude oil was available at a discount to other internationally traded oil due to the price cap and the European nations shunning purchases from Moscow. "India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022," the Centre for Research on Energy and Clean Air (CREA) said its latest report. Russia remained India's top oil supplier, followed by Iraq and Saudi Arabia. "China has bought 47 per cent of Russia's crude exports,

Festivals lift India's edible oil imports to four-month high in Nov

Palm oil imports edged 0.5 per cent higher in November from the previous month to 850,000 metric tons, according to estimates from dealers

India's veg oil imports likely to decline further in 2024-25, says SEA

Weather has been favourable for Indian crops this year, resulting in higher production of soybean and ground nuts, Mehta said, adding that rapeseed output was also expected to rise

Eyeing $87 bn investment in petrochemicals sector over next decade: Puri

He said India's per capita petrochemical consumption is far below developed nations, which offers opportunities of higher investment in the sector

India's crude oil import bill surge 12% in H1 FY25 amid domestic slump

Crude oil imports amounted to 120.5 million tonnes between April and September, representing a 4 per cent increase from the 115.9 million tonnes imported during the corresponding period last year

India aims to double edible oil output to cut down reliance on imports

Last month, India raised the basic import tax on crude and refined edible oils by 20 percentage points to help protect farmers struggling with lower oilseed prices

India in discussion to raise oil imports from Brazil: Hardeep Singh Puri

India and Brazil deepen energy ties as Petrobras meets with the Union Minister of Petroleum and Natural Gas Hardeep Singh Puri in Brasilia

Russian insurance shores up oil exports to top buyer India, shows data

Over 60 per cent of Russia's seaborne oil exports go to India

India's edible oil demand to increase despite hefty import duty hike

India is the world's largest importer and meets 70% of its vegetable oil demand through foreign sourcing

Russian crude flow to India declines in Aug, Iraq improves market share

India's overall crude imports declined by around 6.6 per cent in August month-on-month to 4.5 million bpd, but the reduction in Russian shipments was more than twice as large

India likely to plan raising vegetable oils import taxes, govt sources say

A proposal has been made by the farm ministry and a final decision will be made by the Department of Revenue, which falls under the finance ministry, said another government official

Russia to face serious challenges if world stops buying its oil: Zelenskyy

Russia will have significant challenges if the world, including India, stops buying subsidised oil from it, Ukrainian President Volodymyr Zelenskyy said on Friday. The West has been critical of India's continued buying of Russian oil despite sanctions on that country since its invasion of Ukraine in February 2022. Imports from Russia, which were less than one per cent of the total oil imported in the pre-Ukraine war period, now make up for almost 40 per cent of India's total oil purchases. On Friday, pointing out that there are very significant contracts between India and Russia vis-a-vis oil, the Ukrainian president said, Putin is afraid of losing the economy, he has nothing except for oil, his main currency is oil. They do have a kind of energy-based economy, and they're export-oriented. So, the countries importing energy resources from the Russian Federation, then they will be helping the whole world, Zelenskyy said while addressing the travelling India media persons after his .

India imports $2.8 billion worth of crude oil from Russia in July

India, the world's third largest oil consuming and importing nation, in July bought USD 2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022. Imports from Russia, which were less than one per cent of the total oil imported in pre-Ukraine war period, now make up for almost 40 per cent of India's total oil purchases. China bought 47 per cent of Russia's crude exports, followed by India (37 per cent), the EU (7 per cent), and Turkey (6 per cent), the Centre for Research on Energy and Clean Air (CREA) said in a report. Not just oil, but China and India also bought coal from Russia. "From 5 December 2022 until the end of July 2024, Chin

India's July palm imports surge, near one-year high on festive demand

India's palm oil imports rose more than 37 per cent in July from previous month to about 1.1 million metric tonnes, highest since Aug 2023 and in line with traders' estimates, SEA of India said

India, Russia explore dynamic rupee-rouble rate to overcome trade issues

RBI deputy governor T Rabi Sankar and top officials of some public sector banks are visiting Moscow for a meeting of the India-Russia Joint Business Council for banking and finance

Russian oil prevails in India's July imports despite refinery shutdowns

Low discounts fail to impact pecking order; continuing reliance on Russian supplies helps prop up GRMs of refiners

Indian refiners likely saved at least $10 bn due to discounted Russian oil

Russia started offering its crude at discounted prices after the Western nations imposed cuts on their oil imports from Moscow in a bid to put pressure on the Russian economy over the Ukraine war