Page 7 - India Oil Imports

Trade, energy imports in focus as PM Modi to meet Trump during key US visit

PM Modi's US visit takes on added significance as Donald Trump plans to introduce reciprocal tariffs, with an announcement expected just before the Indian PM's arrival in Washington DC

Russia oil trade with China, India stalls as sanctions drive up costs

Washington imposed fresh sanctions on Jan 10 targeting Russia's oil supply chain, causing tanker freight rates to soar as some buyers and ports in China and India steered clear of sanctioned ships

India eyes bigger slice of US energy supplies, says Hardeep Singh Puri

Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, highlighted the stability of the global oil market, supported by increased supplies from the US, Brazil, Guyana, Suriname, and Canada

Weaker rupee to push India's import bill due to higher payments: GTRI

The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from USD 65,877 per kg in January 2024 to USD 86,464 per kg in January 2025. Since January 16, last year, the Indian Rupee (INR) has weakened by 4.71 per cent against the US dollar, falling from Rs 82.8 to Rs 86.7. In the last ten years, between January 2015 and 2025, the INR has weakened by 41.3 per cent against the US dollar, falling from Rs 41.2 to Rs 86.7, the Global Trade Research Initiative (GTRI) said in its report. In comparison, the Chinese Yuan depreciated by 3.24 per cent, from Yuan 7.10 to Yuan 7.33. "Overall, weaker INR will inflate import bills, raise energy and input prices, leading to

Oil prices rise 2% to 4-month high on impact of Russian sanctions

Analysts and energy traders said the sanctions will push China and India to source more crude from the Middle East, Africa and the Americas, boosting prices and shipping costs

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 .