Page 2 - Oil Export

US crude oil exports jump in hope for India as trade treaty deadline nears

Total imports from the US stood at $8.9 billion in April-May 2025, up from $7 billion in the same period a year earlier, Indian customs data showed

Datanomics: Strait of Hormuz still remains critical for crude oil import

The Strait of Hormuz is still critical for India even though we now import much lower than half of our crude inbound shipments through this route

Brent crude may cross $110 if Hormuz oil flow halves: Goldman Sachs

But Kotak Institutional Equities believes market concerns are driving oil prices and points to sufficient OPEC+ spare capacity and well-supplied global inventories

Asia's oil lifeline at risk as Iran conflict threatens key trade routes

Asia buys more than four-fifths of all the crude produced in the Middle East, and 90 per cent of that goes through the Strait of Hormuz

Russia increases seaborne fuel oil exports to India, Turkey in May

Oil prices fell to four-year lows as an Opec+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain

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

Venezuela increases oil exports to China as US secondary tariff tightens

Venezuela's oil industry is facing its biggest threat since the first Trump administration essentially banned US imports of oil from the country in 2019

Trump revives 'Drill, baby, drill' slogan, fuels debate on US energy policy

The slogan 'Drill, baby, drill' was coined in 2008 by Michael Steele, a Republican politician and the first African-American lieutenant governor of Maryland

Amid US sanctions, oil buyers pull all levers to replace Russian shipments

As Indian companies begin talks with Saudi Arabia and Abu Dhabi this week, traders say discussions between refiners and the OPEC producers will be tense

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

Palm oil imports to drop to 5-year low in Jan due to losses: Report

The thin lineup of vessels carrying palm oil at key ports such as Kandla, Haldia, and Krishnapatnam over the next two weeks suggests imports could drop to about 370,000 metric tons in Jan

Damaged Russian ships likely spilled 3,700 tonnes of oil in Kerch Strait

An estimated 3,700 tons of low-grade fuel oil has spilled into the Kerch Strait after two Russian ships were seriously damaged by stormy weather, Russian state media reported Monday. The two ships, the Volgoneft 239 and the Volgoneft 212, were transporting roughly 9,200 tons of mazut, a heavy, low-quality oil product. Social media footage from the scene showed a black liquid rising among the waves. Preliminary estimates say that 3,700 tons of mazut leaked into the sea, Russian state news outlet RIA Novosti reported, citing an unnamed source. In a statement, the leader of Russia's nearby Krasnodar region, Gov. Veniamin Kondratev, said that the oil had not yet reached the shore. An emergency rescue operation was launched Sunday after the Volgoneft-212 tanker ran aground and had its bow torn away in storm conditions, Russia's Emergency Situations Ministry said. One sailor in the 13-man crew died, officials said. A second tanker, the Volgoneft-239, was also left damaged and adrift with

Rajya Sabha passes bill to boost investment in oil and gas exploration

The Rajya Sabha on Tuesday passed a bill that seeks to amend existing law governing exploration and production of oil and gas, and delink petroleum operations from mining operations to boost investment in the sector. The Oilfields (Regulation and Development) Amendment Bill, 2024, introduced in the Rajya Sabha in August this year, was passed by a voice vote. Replying to the debate on the bill, Oil Minister Hardeep Singh Puri said that the oil and gas sector involves high investment and long gestation period. "We need oil and gas sector 20 more years. We need to bring this legislation here to provide a win-win confidence not only to our own operators but also to foreign investors so that they can come and do business here with view to benefit everyone," Puri said. He said policy stability, dispute resolution and sharing of infrastructure , especially for small players are new provisions in the bill. He also explained the point of helium raised by members, saying that mineral oils

India's oilmeal exports up 5% in Oct; rapeseed meal shipments decline

India's export of oilmeals rose 5 per cent to 3.05 lakh tonnes in October compared to 2.89 lakh tonnes in the year-ago period, according to industry body SEA. However, during the April-October period of the 2024-25 fiscal year, the overall oilmeal exports declined 7 per cent to 23.88 lakh tonnes against 25.66 lakh tonnes in the corresponding period last year, primarily due to lower shipments of rapeseed and castorseed meals. The Solvent Extractors Association of India (SEA) said in a statement that rapeseed meal exports dropped to 1.60 lakh tonnes in October from 1.69 lakh tonnes a year ago. India, traditionally a major exporter of rapeseed meal as cattle feed, shipped about 22 lakh tonnes in the 2023-24 fiscal year, helping farmers secure better prices. "However, this year presents new challenges," SEA said, noting that rapeseed meal exports have fallen 25 per cent in the first seven months of the current fiscal to 11.8 lakh tonnes from 15.1 lakh tonnes in the year-ago period. Th

Oil giant Saudi Aramco reports 15% drop in Q3 profit but maintains dividend

Aramco's shares are down about 17 per cent this year, trailing the performance of Western oil majors Exxon and Shell, but broadly in line with BP, which is down 18 per cent

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

Crude calculations: How cheaper Venezuelan oil flows will help India

The savings that feed into its refining margins prompted Reliance to secure Washington's blessings in July to import Venezuelan oil

Opec cuts global oil demand growth forecast in 2024, citing China

The reduction still leaves Opec at the top end of industry estimates. Oil was steady after the report was released, trading above $80 a barrel

Opec oil output increases in May, led by Nigeria, Iraq, survey shows

Several members of Opec+, which includes Opec, Russia and other allies, made new cuts in January to counter economic weakness and increased supply outside the group

India's use of crude tankers to export diesel to European Mkts slows in May

While more April shipments from India to Europe provided a floor for Asian margins, fewer such voyages in May will likely compel Indian refiners to shift diesel sales back to Asia