Page 8 - India Oil Imports

India's oil imports to be disrupted as US-Venezuela tensions escalate

Uncertainty over Venezuelan supplies comes amid reduced discounted Russian flows

Opec expects to reclaim share of Indian imports eroded by Russian supplies

The share of oil from the Organization of the Petroleum Exporting Countries (OPEC) imported by India declined from about 65% in 2022 to 50% last year, according to industry data

India remains cautious on contracted Russian oil as new US sanctions bite

The three refiners had been in talks with Russia's Rosneft PJSC to secure about 500,000 barrels a day - equivalent to a third of India's daily imports

RBI urges state refiners to make payments for some oil imports in Rupees

India is the world's third-largest crude importer and is forecast to be the leading driver of global consumption growth this decade

Russian oil imports rise in Feb, expected to slow in coming months: Report

Discounts on Russian oil, which have already declined to around $3.5-$4 per barrel, are also expected to fall further as sanctions are seen as driving up freight costs

India looks elsewhere for oil as latest US sanctions crimp Russia trade

India's refiners are keen to take more Russian oil, but there would need to be US approval for buying to ramp up again, the executives said, asking not to be identified because the information is priv

India's oil imports from Russia threatened after US imposes new sanctions

Washington on Friday imposed sanctions to mark the second anniversary of Moscow's invasion of Ukraine and retaliate for the death of opposition leader Alexei Navalny

January crude imports hit 21-month high due to strong Industrial demand

Crude oil imports in January rose 9.5% month-on-month to 21.39 million metric tons, and were up 5.7% on year-on-year basis, Petroleum Planning and Analysis Cell (PPAC) data showed on Thursday

India resumes buying Russian Sokol oil after 2-month hiatus: Report

India did not receive Sokol oil in December and January, data from trade sources and the ship tracking data shows

India wants multi-year oil purchase deal with Guyana: Guyanese minister

"We will make a decision at some point in time" on crude oil sales to India in a long-term deal, Vickram Bharrat told reporters on the sidelines of industry event India Energy Week in Goa

Domestic oil imports from Russia hit 12-month low in Jan as sanctions bite

Last year, India emerged as a top buyer of sea-borne Russian oil sold at a discount after Western countries halted imports following Moscow's invasion of Ukraine

US sanctions on Russian oil shipments a worry for Indian refiners

Enhanced enforcement of sanctions by Western powers may increase procurement costs and reduce the appeal of discounted Russian crude

Oil prices rise 1% as tankers avoid Red Sea after strikes on Houthis

Brent crude futures rose $1.08, or 1.4%, to $78.51 a barrel by 1:25 p.m. ET (1825 GMT), after earlier surging over $3 to more than $80

India has no problem in making payment for Russian oil: Hardeep Puri

Puri, who is in charge of the Petroleum and Natural Gas Ministry, said India enjoys a buyers' position and foreign oil suppliers are making offers to its companies

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

Almost all of Russia's oil exports this year shipped to China, India

Russia has successfully circumvented sanctions on its oil and diverted flows from Europe to China and India, which together accounted for around 90% of its crude exports

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

5 mn barrels of Russian oil gets stuck on tankers while en route to India

It's unclear what's holding the vessels up, but US sanctions on tankers hauling Russian crude in breach of a price cap imposed by the Group of Seven nations might be part of the cause

Indian oil product demand growth to slow ahead: International Energy Agency

Indian oil product deliveries edged higher in November but were underwhelming compared to the usual seasonal rise, the agency noted. Deliveries in November increased by 40,000 barrels per day

India's Nov Russian oil imports hit 4-month high, up 3% from Oct: Report

Last month, India overall imported about 4.5 million bpd oil, a decline of about 4.5% from October and a growth of 13% over the same month last year, the data showed