Page 2 - Indian Oil Import

Nikki Haley urges India to take Trump's view on Russian oil seriously

India should take President Donald Trump's concerns over its procurement of Russian crude oil seriously and work with the White House to find a solution to the issue, Republican leader Nikki Haley has said. The Trump administration has been severely critical of India for its procurement of discounted crude oil from Russia. Interestingly, Washington has not been criticising China, the largest importer of Russian crude oil. Defending its purchase of Russian crude oil, India has been maintaining that its energy procurement is driven by national interest and market dynamics. Haley, the Indian-origin Republican leader, on Saturday posted on 'X' a portion of an opinion piece she wrote in the Newsweek four days back. The former South Carolina governor's social media post urging New Delhi to take President Trump's concerns over the Russian crude oil seriously came after she faced criticism within her party following the opinion piece. In the article, Haley argued that India must be treate

Refining profit sharing scheme: Navarro slams India over Russia oil buying

The fresh salvo is the latest from the trade hawk and comes after India has signalled it'll keep buying Russian oil, a step

Indian envoy, US lawmakers discuss trade, energy security amid tariff row

Indian envoy Vinay Mohan Kwatra on Friday discussed mutually beneficial trade engagement and energy security with US lawmakers amid tariff tensions between Washington and New Delhi. The Indian ambassador met Senator Bill Hagerty and thanked him for consistent and strong support to the India-US partnership. Briefed him on continuing bilateral discussions for fair, balanced and mutually beneficial trade engagement, the Indian envoy posted on social media. He also shared perspectives on India's energy security and the growing trade between India and the US in hydrocarbons with Senator Hagerty. Kwatra also held a productive conversation with Congressman Greg Landsman and briefed him on developments in bilateral trade engagement. Briefed him on recent developments in bilateral trade engagement and energy security, and the growing hydrocarbon partnership between our countries, he posted on social media. Earlier, Kwatra met with Rep Josh Gottheimer, Ranking Member of the National Securi

Chinese refiners sweep Russian oil as Indian demand weakens, discounts fall

China had secured 15 Russian Urals cargoes for October-November delivery by the end of last week, said Richard Jones, a Singapore-based crude analyst at Energy Aspects

India's Russian oil imports dip in July, skips LatAm supply, data shows

India imported 1.5 million barrels per day of Russian crude in July, down 24.5 per cent from the previous month, the data showed

Russian crude oil import largely stable despite US tariff announcement

Cargoes of crude oil for September delivery in India down 45% in August compared to July

Oil prices climb after US adviser warns India over Russian crude imports

White House trade adviser Peter Navarro's comments around India's purchases of Russian crude funding Moscow's war in Ukraine revived concerns about supply flows

US tariffs on Indian oil imports from Russia a 'big blow' to Moscow: Trump

President Donald Trump on Monday said American tariffs imposed on India for purchasing Russian oil have dealt a "big blow" to Moscow's economy, which is not doing well, as he referred to New Delhi as Russia's "largest or second largest oil buyer". Addressing a press conference at the White House, Trump claimed that Russia's economy has been severely disrupted by the ongoing global pressures due to the imposition of US tariffs on several countries. "I think Russia has to get back into building their country. It's a massive country... They have tremendous potential in Russia to do well. They're not doing well. Their economy is not doing well right now because it's been very well disturbed by this," he said. "Doesn't help when the President of the United States tells their largest or second-largest oil buyer that we're putting a 50% tariff on you if you buy oil from Russia. That was a big blow," Trump said, in an apparent reference to India. Trump has imposed 25 per cent reciprocal ..

India should weigh benefits of Russian oil after US tariff hike: Banerjee

India should consider whether the cheap oil imports from Russia are 'worth it' after the Trump administration announced an additional 25 per cent tariff on Indian goods, Nobel laureate Abhijit Banerjee has said. Last week, US President Donald Trump signed an executive order, slapping an additional 25 per cent levy on India for New Delhi's purchases of Russian oil, bringing the total duties to 50 per cent -- among the highest imposed by the US on any country in the world. The additional 25 per cent duty will come into effect on August 27. "We need to think hard about whether Russian oil imports are worth it and then go back to the US to say that, you know, will they take it (tariff) off, if we stop importing Russian oil," Banerjee told PTI on the sidelines of an event organised by BML Munjal University. Since the steep tariffs are likely to hit the USD 27 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from ..

Trump to realise trade policy failure within 6-9 months, says EAC-PM member

Economic Advisory to the Prime Minister (EAC-PM) member Neelkanth Mishra on Friday said in the next 6-9 months US President Donald Trump will figure out that his tariff policy is not working. On August 6, the US announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total duty to 50 per cent effective August 27. The White House said the measure responds to India's continued purchase of Russian oil. "It is reasonably clear that in the next 6-9 months, they will figure out that it (tariff policy) is not working," Mishra said while speaking at the Business Today India@100 event. He noted that the US government's decision to announce additional 25 per cent tariff on all Indian imports is an attempt to break away from India. "This (Trump) regime is acting in a way that it is very hard to understand who is taking decisions," Mishra said. The EAC-PM member observed that the Indian economy is unlikely to grow at 9-10 per cent

India's state refiners pause Russian oil buys amid US tariff pressure

Companies including Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to skip spot purchases of the crude in the upcoming buying cycle

Russia, India talk up 'strategic partnership' after Trump tariff hike

President Donald Trump announced higher tariffs on imports from India because of its purchases of Russian oil

Six months of a Trump Presidency later, India-US ties hit a crossroads

Despite both Trump and Modi getting off to a warm start and a first-mover advantage for India in trade talks, recent developments suggest the going may not be as easy as initially hoped

Oil dips to one-week low as Opec+ output boost stokes oversupply fears

Brent crude futures fell 91 cents, or 1.3 per cent, to settle at $68.76 a barrel, while US West Texas Intermediate crude declined by $1.04, or 1.5 per cent, to close at $66.29 a barrel

Indian refiners stop buying Russian crude amid Trump threat, low discounts

Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Mangalore Refinery and Petrochemicals Ltd have not placed new orders for Russian crude

Rosneft calls EU sanctions on Nayara Energy unjustified and illegal

Russian oil giant Rosneft on Sunday termed as unjustified and illegal the sanctions that the EU has slapped on its Indian unit, Nayara Energy. "Rosneft Oil Company considers the European Union's decision to impose restrictive measures on the Indian refinery of Nayara Energy as unjustified and illegal," it said in a statement. "These sanctions are yet another example of extraterritorial implementation of politically motivated restrictions that blatantly violate international law and infringe on the economic interests of a sovereign state." The European Union on Friday imposed sanctions on the Indian oil refinery of Rosneft and lowered the oil price cap, as part of a new raft of measures against Russia over its war in Ukraine. The fresh sanctions package on Russia included new banking restrictions and curbs on fuels made from Russian crude oil. The lowered oil price cap - currently set at USD 60 per barrel - means Russia will be forced to sell its crude at reduced rates to buyers li

India should continue buying Russian oil; must reject US pressure: GTRI

India should resist the US pressure to stop purchasing oil from Russia and continue buying the commodity from Moscow as it has helped India manage inflation and maintain economic stability in a volatile global environment, economic think tank GTRI said on Thursday. US President Donald Trump has threatened to impose a 100 per cent tariffs on Russian oil buyers. "India must reject this pressure and stay firm on its Russia strategy. Buying discounted Russian oil has helped India manage inflation and maintain economic stability in a volatile global environment," the Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. Altering that policy will not stop US threats and it will only invite more, he said, adding this isn't an isolated demand, Trump regularly issues tariff threats for various reasons. "Given this pattern, India sees no value in giving in to US pressure on Russian oil. It won't resolve the larger issue of future unpredictable US demands. Even a trade deal wi

Datanomics: India gets Russian cushion as Israel-Iran clash heats up oil

The conflict is expected to escalate in the coming days, putting further strain on global oil supplies in the restive West Asian region and making crude oil expensive

India to invest $10 billion in homegrown oil tanker fleet by 2040

The purchase order for 10 tankers should come out as early as this month, the people said. Only ships built locally - even if there's foreign collaboration - will be considered for purchase

India's January Russian crude oil purchases surge despite sanctions

Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier