Page 4 - Indian Oil Import

Surging prices: Indian refiners push the envelope on Russia crude oil

With Urals crude prices on the rise, refiners are negotiating for bigger discounts and alternative currencies for payment

India's imports of sunflower oil to fall as Black Sea grain deal expires

The drop in sunflower oil imports would force the world's biggest buyer of vegetable oils to increase purchases of palm oil and soyoil to compensate

Russian oil cuts Opec's share of Indian market to 22-year low at 59%

OPEC members mainly from the Middle East and Africa, saw their share of India's oil market slide to 59% in the fiscal year to March 2023, from about 72% in 2021-22

India's share in global oil demand expected to rise to 11%, gas to 500%: PM

Prime Minister Narendra Modi on Monday said that India's share in the global oil demand is expected to increase to 11 per cent, while the gas demand is expected to rise up to 500 per cent.

Russia replaces Iraq as top oil supplier to India in Nov with 23% share

India's oil imports from Russia rose for the fifth straight month, totaling 908,000 barrels per day (bpd) in November, up 4% from October, the data showed

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