Page 11 - Oil Imports

Pakistan in talks with Russia on importing oil on deferred payment: Report

Pakistan is in talks with Russia on the possibility of importing oil on deferred payment, according to a media report on Sunday. Prime Minister Shehbaz Sharif had three meetings with Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Uzbekistan's Samarkand city, which concluded last week, the Express Tribune newspaper reported quoting a top government official. "One was formal and the rest were informal," said the official, who was part of the prime minister's delegation. "What we have discussed during the recent interaction with the Russian side is the possibility of importing oil on deferred payment," the official said, adding that Moscow has shown inclination to consider the proposal. If the proposal is materialised, it will be a landmark development given that Pakistan imports oil from Gulf countries and in the past Saudi Arabia and UAE supplied Pakistan oil on deferred payment. However, it is not clear if the government

Will join Russia oil cap coalition when alternative supply is ensured: Govt

India has said it will consider backing the price cap on Russian crude oil proposed by the US only when it will be assured of supplies from Venezuela and Iran

India's oil imports from Russia fall in last two months, down 25% from June

In August, India imported 7,38,024 barrels per day from Russia, 18 per cent lower than in July

India's crude oil imports from US dip by one million tonnes in June quarter

At the same time, share of Russian oil in India's crude basket rose from 2.2% in FY22 to 12.9% in the first quarter of FY22

India's crude oil imports from US dip by one million tonnes in June quarter

At the same time, share of Russian oil in India's crude basket rose from 2.2% in FY22 to 12.9% in the first quarter of FY22

India's self-reliance ambition in energy sector faces rising import hurdle

During the financial year 2021-22, India's petroleum imports was around 23.8 per cent of its gross imports and the country was dependent on imports for 86 per cent of its crude oil requirement

Keeping Europe warm this winter will come down to Asia's weather amid war

The Asian countries, among the world's biggest importers of liquefied natural gas and seaborne coal, all share a peak heating demand season during the winter with Europe

Russia undercuts Saudi Arabian oil in India as competition heats up

Russian barrels were cheaper than Saudi crude during April through June, with the discount widening to almost $19 a barrel in May

India likely to restart Ukraine sunflower oil imports as trade eases

About 50,000 to 60,000 tonnes may arrive as Ukraine is set to open some Black Sea corridors for agricultural exports

Pakistan's current account deficit rises to 4-year high of $17.4 bn in FY22

The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of USD 17.406 billion in FY22 compared to a gap of just USD 2.82 billion in FY21.

Traffic surge at ports a sign of India's economic revival: Report

Both coal and crude oil grew 16 per cent year-on-year (YoY), accounting for 105 mt and 65 mt of traffic in the first quarter, even on the back of record high prices

India's June crude oil imports up 21% on demand recovery, Russian discounts

Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.

Amid hiked dollar demand from oil importers, rupee falls 4 paise to 79.96

The rupee depreciated 4 paise to 79.96 against the US dollar in opening trade on Wednesday amid demand for dollar from oil importers and firm crude oil prices

The emerging stress in imports: Surprisingly, it's coal more than oil

Surprisingly, its coal more than oil that is emerging as a huge pressure point

Russia's share of India's June oil imports surges to record 950,000 bpd

NEW DELHI (Reuters) - India's oil imports from Russia surged to a record of around 950,000 barrels per day (bpd) in June, accounting for nearly a fifth of overall imports by the world's third largest oil consumer, data provided by trade sources showed.

Oil prices rebound from Tuesday tumble as supply concerns regain footing

Oil prices have risen owing to supply concerns worldwide

Russia may be India's biggest crude supplier in June, a historic first

Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude

India's Russian imports up 3.5 times on oil buys despite Western pressure

It's now the 4th largest petroleum supplier for India with exports worth $1.3 bn in April

GIC Re part of Rs 500-crore insurance pool to cover imports from Russia

While it will be called the fertiliser pool with a corpus of Rs 500 crore, it can be used to cover the risks of oil and gas imports too

India proposes settling Russia trade in rupees as purchases rise: Report

New Delhi plans to use about $2 billion equivalent of rupees deposited at Russia's state-controlled VTB Bank PJSC and Sberbank of Russia PJSC