Page 7 - Oil Imports
India surpasses China to become biggest importer of Russian oil in July
India surpassed China's July oil imports from Russia of 1.76 million bpd via pipelines and shipments, based on Chinese customs data
 "India surpasses China to become biggest importer of Russian oil in July")
China's July fuel oil imports fall for third straight month: Customs data
The import volumes included purchases under ordinary trade, which are subject to import duty and consumption tax, as well as imports into bonded storage
 "China's July fuel oil imports fall for third straight month: Customs data")
Rupee falls to new low on oil importers' dollar demand, weak risk appetite
The rupee remained under pressure during the week due to persistent outflows from domestic equities, said dealers
 "Rupee falls to new low on oil importers' dollar demand, weak risk appetite")
RIL gets US nod to resume crude imports from Venezuela despite sanctions
India's largest privately owned refiner plans to start purchasing Venezuelan crude soon, said the people, who asked not to be named as the information is not public
 "RIL gets US nod to resume crude imports from Venezuela despite sanctions")
India raises US oil imports in June, marginally cuts supply from Russia
Refiners in India together shipped in 1.98 million barrels per day (bpd) of Russian oil in June, down 3.7% from the previous month, the data showed.
 "India raises US oil imports in June, marginally cuts supply from Russia")
Amid Ukraine war, Russia upgraded to 'high-income' nation; here's why
Thriving in a war economy: Amid heavy sanctions, Russia's economy defied expectations, achieving a high-income status for the first time since 2014, according to the World Bank
 "Amid Ukraine war, Russia upgraded to 'high-income' nation; here's why")
Indian refiners likely saved at least $10 bn due to discounted Russian oil
Russia started offering its crude at discounted prices after the Western nations imposed cuts on their oil imports from Moscow in a bid to put pressure on the Russian economy over the Ukraine war
 "Indian refiners likely saved at least $10 bn due to discounted Russian oil")
India's state refiners in talks for long-term oil import deal with Russia
Nayara Energy and Reliance Industries have already signed term deals for Russian oil imports
 "India's state refiners in talks for long-term oil import deal with Russia")
India's state refiners in talks for long-term oil import deal with Russia
Nayara Energy and Reliance Industries have already signed term deals for Russian oil imports
Asia's first half crude oil imports decline, undermines bullish forecasts
The slightly weaker outcome was largely a result of lower arrivals in China, the world's biggest oil importer
India permits limited imports of corn, vegetable oils at concessional duty
India has set import limits at 150,000 metric tonnes for sunflower or safflower oil, 500,000 tonnes for corn, 10,000 tonnes for milk powder, and 150,000 tonnes for refined rapeseed oil
 "India permits limited imports of corn, vegetable oils at concessional duty")
May oil imports: Russia at record high, Saudi lowest in 10-month
India shipped in about 5.1 million bpd oil in May, a growth of about 5.6% from April, the data shows
 "May oil imports: Russia at record high, Saudi lowest in 10-month")
Reliance signs deal with Russia's Rosneft to buy oil in roubles: Report
A term deal with Rosneft also helps privately run Reliance to secure oil at discounted rates at a time when the OPEC+ group of oil producers is expected to extend voluntary supply cuts beyond June
India's robust LNG imports standout in Asia, higher prices concern looms
Growth in Asia's third-largest economy likely slowed to an annual 6.7 per cent in January-March, more in line with the long-term GDP growth rate
 "India's robust LNG imports standout in Asia, higher prices concern looms")
India's Russian oil imports rise to 9-mth high in April as shipments resume
India, the world's third-biggest oil importer and consumer, is the top client for Russian seaborne oil
 "India's Russian oil imports rise to 9-mth high in April as shipments resume")
China's fuel oil imports surges 10% to 2.93 million MT, highest since 2020
The import volumes included purchases under ordinary trade, which are subject to import duty and consumption tax, as well as imports into bonded storage
 "China's fuel oil imports surges 10% to 2.93 million MT, highest since 2020")
Russia is China's top oil supplier for 12th month in April, volumes up 30%
Imports from Saudi Arabia, which was last China's biggest supplier in April 2023, were 6.34 million tonnes, or 1.54 million bpd, down 25 per cent from a year earlier
 "Russia is China's top oil supplier for 12th month in April, volumes up 30%")
April fuel consumption rises by 6.1% year-on-year: Oil ministry data
Total consumption totalled 19.86 million metric tons (4.85 million barrels per day) in April, up from 18.71 million tons last year, data showed
India biggest importer of seaborne Russian crude in April, beats China
India's appetite for Russian oil revives as cheaper Venezuelan supplies dry up after the US again imposes sanctions on Latin American nation
 "India biggest importer of seaborne Russian crude in April, beats China")
India receives oil cargo in Russian SCF tanker after brief halt: Reports
India is the largest consumer of Russian seaborne oil, sold at a discount after Western nations shunned purchases from Moscow for its invasion of Ukraine
 "India receives oil cargo in Russian SCF tanker after brief halt: Reports")