Oil Imports

Saudi crude imports rise, narrowing Russia's lead in India's oil market

Russia will still be the country's biggest supplier this month if flows reach the top of Kpler's range at 1.2 million barrels a day, but shipments are set to drop even further

Reliance Industries gets US licence to directly buy Venezuela crude oil

India's largest private refiner gets US general licence to purchase Venezuelan crude directly, potentially diversifying its crude slate and resuming imports after previous sanctions eased

US inquiring about alleged Iranian oil imports, says Adani Enterprises

The inquiry adds to ongoing scrutiny of the conglomerate, including a US bribery probe in which the group's chairman has been indicted

Indian Oil, HPCL buy 2 million barrels Venezuelan oil from Trafigura

New ‌Delhi has not officially announced plans to halt Russian oil imports

India-US trade deal: India's economic moves come with strategic strings

Pax Silica and import commitments highlight opportunities and risks

Record discounts on Russian oil to China aim to lure demand as India wavers

Discounts for ESPO Blend, delivered from the Pacific port of Kozmino to China, widened to nearly $9 a barrel to ICE Brent this week, from $7-$8 in recent months

Reliance buys 2 mn barrels of Venezuelan crude after nearly a year: Report

Trading houses Vitol and Trafigura were granted US licenses to market and sell millions of barrels of Venezuelan oil following the US military operation last month to capture President Nicolas Maduro

India's Russian oil imports likely to dip again, stranding cargoes at sea

The country imported about 1.3 million barrels a day of Russian crude in December, according to data from ship-tracking firms Vortexa Ltd. and Kpler

Venezuela crisis unlikely to hit India oil prices in near term: Crisil

On January 3, the US launched a large-scale operation in Venezuela's capital Caracas and captured President Nicolás Maduro and his wife Cilia Flores

Venezuela crisis: Russia sends submarine to escort tanker chased by US

Russia is alarmed by US seizures of tankers that carry illicit Russian oil, which helps fund its economy

Here's how Russia is cashing in on Venezuelan crisis following US strikes

There has been a sharp rise in shadow fleet tankers switching to the Russian flag in the past month, with at least 17 vessels having done so in recent weeks

India's Russian oil imports in Jan may fall as RIL expects no deliveries

India's imports of Russian crude are likely to dip below 1 million barrels per day ‌as New Delhi seeks to clinch a trade deal ​with Washington

India asks refiners for weekly Russian oil import data to share with US

India seeks weekly data on Russian and US oil buys as crude imports from Moscow may fall below 1 million bpd amid sensitive trade talks with Washington

China, EU lead Russian fuel purchases as India suffered despite cuts

India has gained the least since Russia invaded Ukraine in February 2022 and was penalized the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war

India's Russian oil imports strong, to exceed 1 mn barrels per day in Dec

Ties between the two countries have remained strong despite pressure from Western sanctions after Russian President Vladimir Putin met with Prime Minister Narendra Modi

Parl Panel urges diversification of crude sources to cut geopolitical risks

A parliamentary committee has flagged India's heavy dependence on crude oil imports and rising geopolitical risks as major challenges for the country, and urged the government to step up diversification of supply sources and strengthen risk management mechanisms. In its report tabled in Parliament last week, the Public Undertaking Committee noted that India imports nearly 89 per cent of its crude oil requirements, making the country vulnerable to global disruptions arising from conflicts, sanctions, civil unrest in oil-producing nations and disruptions in key shipping routes such as the Suez Canal and the Red Sea. Recent events, including the Russia-Ukraine war and tensions in West Asia, have highlighted the fragility of India's energy supply chain. The committee recommended that Ministry of Petroleum and Natural Gas (MoPNG) and state-run oil companies intensify efforts to diversify crude oil sourcing both geographically and contractually, bolster strategic petroleum reserves and ..

India's crude oil loadings from Russia dip, but robust in December

Unless wider secondary sanctions are introduced, India is expected to continue sourcing from non-sanctioned Russian suppliers, say experts

India's Russian oil imports set to fall to three-year low in December

This month, India is expected to receive 1.87 million bpd of Russian crude, provisional data from Kpler showed

India's oil and gas import bill drops 12% in Apr-Oct on softer crude prices

India saved on crude purchases as global prices fell, even with similar import volumes. The crude bill dropped 13% YoY to $71.2 billion in April-October, helping reduce the overall import bill

Trump backs 500% tariffs on Russia trade partners: What it means for India

Donald Trump backs Senate legislation enabling tariffs of up to 500% on countries trading with Russia, a move that could significantly affect India and China