Page 4 - Indian Oil Import

India's crude import basket at 10-month low but pump prices to remain high

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

India-Russia oil trade amid Ukraine crisis: What is at stake?

The US has been putting increasing pressure on India to distance itself from Russia

Iran ready to meet India's energy needs, says Tehran envoy

Iran used to be the second-largest oil supplier to India but New Delhi had to halt imports from Tehran after former U.S. President Donald Trump withdrew from the nuclear deal with Iran

Iraq builds up grip on India oil market with highest volumes in 29 months

India's imports of oil from Iraq surged in January to a 29-month high of about 1.3 million bpd, making up nearly a third of the supplies to India, says data from shipping and industry sources.

India's May crude oil imports dip as coronavirus pandemic curbs demand

India's May crude oil imports slipped to their lowest in three months as fuel demand sagged amid a second wave of the pandemic that crimped economic activity and mobility, data showed on Monday

India's April exports up 197% on low base; trade deficit widens to $15.2 bn

Better export figure largely due to low-base effect, as Covid-19 induced nationwide lockdown a year ago had temporarily stopped economic activity

IOC to buy Guyanese crude as India doubles up on cutting Opec dependence

According to oil ministry officials, this deal is at competitive rates and is in line with the strategy to have multiple sources of crude oil for Indian refiners

Best of BS Opinion: Cloud over climate action, Tata vs Mistry, and more

Here's a selection of Business Standard opinion pieces for the day

Explained: Why 'atmanirbharta' flows against oil security for India

Instead of relying on negligible domestic deposits, India should be securing steady supplies from abroad

India hopes for resuming Iran oil imports as Biden presidency nears

India halted its imports from Iran, previously its third-largest oil supplier, in mid-2019 after the expiration of US exemptions.

India's May crude oil imports post biggest decline since at least 2005

Crude oil imports fell to 14.61 million tonnes, it's lowest since 2015, Petroleum Planning and Analysis Cell data showed on Friday

The oil glut

The crash in futures may not benefit India

India's July petrol imports hit highest level in 8 years at 230,000 tonnes

India's imports of crude oil have stalled in recent months, with both coal and liquefied natural gas also soft

Indian cos co-operating, stopped importing oil from Venezuela: Trump admin

Venezuela is the third largest supplier of oil to India which is the world's third-biggest oil consumer

Govt won't share limited Iran oil with private refiners: Sources

India private refiners have greater agility in oil sourcing

After 3-month gap, HPCL, BPCL to import 1 mn barrels of Iranian oil in Feb

Indian Oil Corp will lift 5 million barrels of Iranian oil in February, the same as this month

India to import Iranian crude oil using rupee payment mechanism: Source

India is Iran's second-biggest buyer of oil after China

Oil import bill for FY19 seen rising 42%; falling rupee cause for concern

The benchmark Indian crude oil basket is now estimated to average $77.88 a barrel for FY19, compared to the government's earlier estimate of $65 a barrel for the year and $56.39 for FY18

After Modi raises India's pricing concerns, Opec says no oil supply worries

Opec Secretary-General Mohammed Sanusi Barkindo said India's crude oil demand was expected to rise by 5.8 million bpd by 2040, accounting for around 40% of the global demand rise by then

Iran becomes India's No. 2 oil supplier, replacing Saudi: Oil minister

Data compiled by Reuters shows that India imported about 3.46 million tonnes, or about 279,000 bpd, from Iran between April and June last year