Page 13 - Oil Imports

Oil alarm: India's oil import bill at 67% of FY21 in just 5 months of FY22

The sharp economic recovery and rising demand post the second wave of Covid coupled with a spike in global oil prices may pose a challenge for the government in FY22 to maintain fiscal discipline

India's oil imports rose to four-month high in August, shows data

Oil imports last month rose about 23% from July and about 6.2% from the same month last year

Hit by Covid-19, India's edible oil imports seen at lowest in six years

MUMBAI (Reuters) -India's imports of edible oil could fall to their lowest in six years, contracting for a second straight year because of the coronavirus outbreak and demand squeezed by record prices, a senior industry official said on Wednesday.

India reduces soyoil, sunflower oil import tax to calm prices

The tax reduction could increase imports of soyoil and sunflower oil in Sept, although a big jump is unlikely as the lower duty is only applicable for a short period until Sept. 30

India's July palm oil imports dip over 43% to 4.65 lakh tonne

India's palm oil imports fell 43.55 per cent year-on-year to 4.65 lakh tonne in July due to higher domestic stocks, industry body Solvent Extractors Association (SEA) said on Monday

ONGC's existential problem: India's exploration conglomerate running empty

India's dependence on imported oil and gas is rising steadily but the country's premier exploration conglomerate is running on empty

China cuts 2nd batch of crude oil import quotas for pvt refiners: Report

China has issued 35.24 million tonnes of crude oil import quotas to non-state refiners in a second batch of allowances for 2021, a 35% drop from the same slot last year, according to a report

OPEC's share of Indian oil imports plunges to two decade low, shows data

Total crude imports by the world's third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier

Best of BS Opinion: Competition in e-tail, Covid-19 vaccine, 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's crude oil production tapers, delaying cut in import dependence

India produced around 2.5-2.6 million tonnes (mt) of crude oil per month in 2020

India's current account to register surplus of $30 bn in FY21: Report

The deficit stood at $24.6 billion or 0.9 per cent of GDP in FY20

ONGC manages to save golf course that houses oil wells in Gujarat

ONGC has managed to save its golf courses in Ahmedabad and Vadodara after the department of disinvestment dropped a proposal to divest the company of the 'non-core' assets, sources said.

Demand dip amid Covid-19, low crude prices may cut India's oil bill by 40%

For India, lower oil prices act as big incentive as the country depends on imports to meet 86% of its requirements

Oil prices slip as worsening Covid-19 threatens recovery in fuel demand

More than 14 million people have been infected by the novel coronavirus globally and nearly 602,000 have died, according to a Reuters tally

UCO Bank eyes non-oil imports from Iran to sustain rupee-rial trade

Lender posts turnaround in Q4, awaits PCA exit

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

India benefits from low-cost oil, fills 32 mn tonnes of commercial storage

India, the world's third biggest oil importer, buys over 80% of its oil needs from overseas markets. The nation has annual refining capacity of about 250 million tonnes

Indian crude oil basket follows global trajectory, falls to record low

The March average of Indian Basket price was lowest in the last 15 years at $33.36 a barrel last month

Crude oil slump triggers a sell-off in domestic stocks, currency

Sensex falls 1,011 points, Nifty closes below 9k