Page 3 - Oil Imports

India's oil demand growth set to outpace China in 2025: Trafigura

China and India - the region's leading crude importers - are key drivers of demand growth, as producers and traders navigate the impact of economic shifts, plus the spread of renewable energy

Trump urges European leaders to stop Russian oil imports, cites Ukraine war

In a 'Coalition of the Willing' call, US President Donald Trump urged European leaders to stop buying Russian oil that funds the war in Ukraine and called for stronger security support

Crude oil imports from Russia set to dip in Sep, Oct before rising again

Indian refiners have resumed tendering Russian oil purchases in the second half of August

What to know about India's rising oil imports from Russia amid US tariffs

President Trump accused India of aiding Moscow's war on Ukraine by purchasing Russian energy, derailing trade talks between India and the United States

India will buy oil where it gets 'best deal': Indian envoy to Russia

Indian companies will continue buying oil from wherever they get the "best deal", India's envoy to Russia Vinay Kumar has said, asserting that New Delhi will continue taking measures which protect its "national interest". In an interview with Russia's state-run TASS news agency published Sunday, Kumar said that New Delhi's priority is ensuring energy security of the country's 1.4 billion people. His remarks come amid US criticism of India's purchase of discounted Russian crude, a criticism which India has strongly rejected. Stressing that trade takes place on a "commercial basis", Kumar said, "Indian companies will continue buying from wherever they get the best deal. So that's what the current situation is." "...We have clearly stated that our objective is energy security of 1.4 billion people of India and India's cooperation with Russia, as of several other countries, has helped to bring about stability in the oil market, global oil market," the report quoted him as saying. His

India should weigh benefits of Russian oil after US tariff hike: Banerjee

India should consider whether the cheap oil imports from Russia are 'worth it' after the Trump administration announced an additional 25 per cent tariff on Indian goods, Nobel laureate Abhijit Banerjee has said. Last week, US President Donald Trump signed an executive order, slapping an additional 25 per cent levy on India for New Delhi's purchases of Russian oil, bringing the total duties to 50 per cent -- among the highest imposed by the US on any country in the world. The additional 25 per cent duty will come into effect on August 27. "We need to think hard about whether Russian oil imports are worth it and then go back to the US to say that, you know, will they take it (tariff) off, if we stop importing Russian oil," Banerjee told PTI on the sidelines of an event organised by BML Munjal University. Since the steep tariffs are likely to hit the USD 27 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from ..

Reliance likely to switch back to West Asia oil if Russian supply dries up

India's biggest buyer, Reliance, operates the world's largest refining complex at Jamnagar in Gujarat where it can process about 1.4 million barrels per day (bpd)

Reliance flags crude supply risks amid US tariff blow on Indian exports

Reliance warns of refining margin pressure as US doubles tariffs on Indian goods to 50 per cent over Russian oil imports; 25 per cent came into effect on Thursday, second 25 per cent begins August 27

Garcetti video resurfaces as Trump targets India's Russian oil imports

MEA defends India's oil purchase policy as US President Donald Trump accuses India of 'financing' Russia's war, escalates tariff threats and stalls trade talks

India's IOC buys 7 mn barrels US, Abu Dhabi crude amid Russian oil decline

India's top refiner IOC buys 7 million barrels of crude from US, Canada and Abu Dhabi via tender, as Russian oil imports pause due to narrowing discounts and rising sanctions

India to keep buying Russian oil despite Trump's penalty threat: Report

Despite Donald Trump's warning of a penalty, Indian officials say the government had "not given any direction to oil companies" to cut back imports from Russia

'A good step': Trump welcomes reports of India halting Russian oil imports

Amid tariff threats and narrowing price gaps, India's oil firms have paused Russian crude orders; MEA says no official directive

Reliance Industries faces scrutiny as EU targets diesel from Russian crude

Reliance bought Abu Dhabi's Murban crude in a rare purchase late last week, traders said, adding that it picked up the cargo soon after Friday's sanction package

Energy needs our priority, no double standards please: India to Nato

MEA says securing India's energy needs is a top priority and cautions against double standards amid NATO threat of secondary sanctions over Russian oil imports

India's Russian oil imports up slightly in January-June, shows data

India, the world's third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1% from a year ago, the data showed

Hydrocarbon exploration auctions: ONGC may tie up with Petrobras, BP, RIL

ONGC targets full sweep of 25 blocks in country's largest exploration round

Oil futures, options hit record Q2 volumes amid global market turmoil

Significant volatility in the second quarter had global benchmark Brent crude futures dropping to a four-year low of $60.23 a barrel on May 5 and then surging to $78.85 on June 19

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

India has weeks of oil supply, imports continue via many routes: Puri

India, the world's third-largest oil importer and fourth-biggest gas buyer, has enough energy supplies to meet requirements for several weeks and continues to receive supplies from several routes, Oil Minister Hardeep Singh Puri said amid escalating tensions in the globe's biggest energy supply regions. In a post on X, the minister said the government has been "closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks." "Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now," he said. The Strait of Hormuz, which Iran is threatening to shut down following US strikes on its nuclear facilities, is an important transit for oil coming from the Middle East. About 2 million barrels per day (bpd) of crude oil out of India's total import of 5.5 million bpd transits through the narrow waterway. However, India has diversified ..