Page 14 - Oil Imports

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

How Covid-19 spoilt the oil bonanza

Conventional wisdom is that when crude oil prices drop, India benefits as it is dependent on imported oil to the tune of about 85 per cent of its total consumption

India's import of US oil jumps 10-fold to 250,000 bpd: US Energy Secretary

India began importing crude oil from the US in 2017 as it looked to diversify its import basket beyond the OPEC nations

To diversify beyond Middle East, India looks to import more oil from Brazil

India imports 84 per cent of its oil needs and two-thirds of its import come from the Middle East with Iraq and Saudi Arabia being the top suppliers

India's Nov oil import growth fastest in seven months: Oil Ministry data

India, the world's third-biggest oil importer and consumer, has set an April 1, 2020 deadline to migrate to Euro VI-compliant fuels to cut its carbon emissions

Trade deficit narrows to $12.12 bn in 2019 as exports contract marginally

Oil imports during the month under review were USD 11.06 billion, 18.17 per cent lower year on year