Page 7 - Oil Imports

Benign oil prices can provide fillip to multiple sectors, ease inflation

The direct impact on the energy sector should see a positive re-rating for OMCs (despite possible losses on marked-down inventory) since retail margins and refining margins may both improve

BPCL plans to buy Venezuela oil; deal not to harm Russian imports: Official

"Our refineries are capable of processing Venezuelan oil and we have given our international trade (department) okay to buy it," Khanna said in an industry event

GIC wants to divert terror insurance money for oil and nuclear risks

India has Rs 15,000 cr in terror risk insurance: Money could be better used

Russian oil saves India's import costs by about $2.7 bn: Govt data

Unlike China, India doesn't buy Venezuelan and Iranian oil

Gulf crudes make a comeback as Russian Urals grade turns expensive

The share of Russian oil imports in India's overall crude import basket slumped by 8 percentage points on the month in October

India's Russian oil imports eased in October after prices climbed

Indian refiners have slowed Russian oil imports in recent months from the nearly 2 million barrels per (bpd) peak seen earlier this year as discounts have narrowed

Russia makes up 40% of Indian crude oil imports, dents OPEC's share

Lower purchases from the West Asia dragged the share of pec in India's overall imports to the lowest in 22 year

Turning the tide on oil

India has faltered in locating its oil reserves for decades, but now a path is being paved to facilitate its transition from an oil importer to an exporter

Govt wants Saudi Aramco to develop strategic petroleum reserve: Report

India, the world's third-biggest oil importer and consumer, imports over 80% of its oil needs and has built strategic storage at three locations in southern India

China saves billions of dollars from record-sanctioned oil imports

China's purchases are also a revenue lifeline for Moscow, Tehran and Caracas, whose economies are otherwise curtailed by Western sanctions and a decline in investment

Mkts slump, oil prices rise on West Asia turmoil; Sensex, Nifty drop 0.7%

The Sensex ended the session at 65,512, a decline of 483 points or 0.7 per cent. The Nifty closed the session at 19,512, a drop of 141 points or 0.7 per cent

Indian Oil, RIL tap Iraqi oil wells amid surging cost of Russian Urals

This reflects India's growing reliance on Russian grades while balancing them out with purchases from Iran suppliers

Explainer: How serious is Russia's fuel export ban and who will be hit?

Russia said exports would resume once it had stabilised its domestic market, but did not give a precise timeline

Oil imports fall for third month in row in Aug on lower Russian shipments

Crude imports fell 3.9% month-on-month to 18.73 million metric tons in August, Petroleum Planning and Analysis Cell (PPAC) data showed

Oil down on weak economic data, US Fed chief's speech in spotlight

Brent crude fell 19 cents, or 0.2%, to $83.02 a barrel by 0619 GMT, while U.S. West Texas Intermediate crude dropped 24 cents, or 0.3%, to $78.65 a barrel

Oil prices rise for third day as tighter market offsets demand risks

Meanwhile, some refined products such as diesel - the workhorse fuel of the global economy - have started pricing in scarcity this winter, boosting their premium to the oil from which they are made

Dollar hits highest in more than a month on China economy concerns

Analysts said investors bought the dollar as shelter from concerns about the health of the global economy, particularly China

Oil dips further on China's economic recovery worries, strong dollar

U.S. West Texas Intermediate crude settled down 68 cents, or 0.82%, at $82.51 a barrel. Brent crude futures finished at $86.21 a barrel, down 60 cents, or 0.69%

Price of petro products in Pak likely to be increased by PKR 20: Report

The price of petroleum products in Pakistan is likely to witness a rise by Pakistani Rupees (PKR) 20 per litre, Pakistan-based ARY News reported citing sources. As per the details, the price of crude oil has increased from USD 86 to USD 91 per barrel due to the rise in petroleum products' global prices. In addition, a premium charge of USD 2 per barrel has been applied to crude oil. The per litre price of both petrol and diesel has increased from USD 97 to USD 102, demonstrating an upward trend, ARY News reported. If these prices persist, the price of petrol could potentially witness a rise of PKR 15 per litre, while the cost of diesel might see a surge of PKR 20 per litre, across the nation.During its tenure, the Pakistan Democratic Movement (PDM)-led government increased the cost of petroleum products and the prices reached as high as PKR 129.25 per litre for petrol, according to ARY News report. Meanwhile, the basic electricity tariff was increased by up to PKR 15.41 per ...

Russia's oil to India in June the cheapest since Ukraine war began

The price for each barrel including freight costs was $68.17, down from $70.17 in May and $100.48 a year earlier, according to the latest figures from India's Ministry of Commerce and Industry