Page 9 - Oil Imports

India now buying 33 times more Russian oil than a year earlier

The country is now easily India's biggest source of oil after overtaking Iraq and Saudi Arabia several months ago.

Where will Europe get its diesel from after Russia is banned in 23 days?

The fuel is vital to the bloc's economy, powering cars, trucks, ships, construction and manufacturing equipment and more

GM Mustard won't solve India's edible oil import problem, says Ashok Gulati

Gulati says he is in support of GM mustard, but to say that it will solve India's problem of edible oil imports is a stretch

India to explore buying oil from Guyana in long-term deal, says govt

India's Petroleum Minister Hardeep Singh Puri met Guyana's President Mohamed Irfaan Ali on Thursday

India's Dec palm oil imports fall 2.8% to 1.11 million tonnes: Trade body

Imports of soyoil gained 10.1% to 252,525 tonnes while sunflower oil imports jumped 23% to 194,009 tonnes, a release said

Govt to discontinue import of crude soybean oil under tariff rate quota

The government on Wednesday said that it has decided to discontinue import of crude soybean oil under tariff rate quota (TRQ) from April 1 this year. TRQ is a quota for a volume of imports that will enter India at specified or nil duty, but after the quota is reached, the normal tariff applies to additional imports. "Last date for import of crude soybean oil under TRQ has been revised to March 31, 2023. Further, no allocation of TRQs for import of crude soybean oil shall be made for 2023-24," the directorate general of foreign trade (DGFT) said in a public notice. The government has earlier exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soybean oil and crude sunflower oil each, to ease domestic prices. The duty-free import of 20 lakh MT per year was earlier applicable for two financial years -- 2022-23 and 2023-24 -- for crude soybean oil and crude sunflower oil. Now it is applicable only for crude sunflower see

GM mustard (DMH-11) may not solve India's edible oil import problem: ICAR

Indian Institutions engaged in developing GM seeds for 13 crops

Skewing the mustard field: The Yellow Revolution's revival needed

Claims that GM mustard will lead to increased yield are incorrect; we must focus on other solutions

India faces no immediate impact of oil tanker pileup in Turkey: Officials

Situation could change if jam in Bosphorus Strait continues as a result of sanctions on Russian seaborne crude, they say

India's palm oil imports jumed 29% to 1.14 million tonnes in Nov: Report

Higher imports by India, the world's biggest palm oil buyer, would help top producer Indonesia cut its inventories and support benchmark Malaysian palm oil prices

Oil price cap looks set to keep Russian oil flowing even as war continues

Lavrov said the cap was irrelevant, the strongest hint yet of a possible softening. With such a generous cap, buyers and sellers can easily claim it's just business as usual

India's crude import basket at 10-month low but pump prices to remain high

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

India purchased 40% of seaborne Russian Urals oil in November: Report

India bought about 40% of all Urals seaborne export volumes loading in November, outperforming other states as buyers, Reuters calculations based on Refinitiv and traders' data showed on Monday

Sunflower oil shipments to India from Russia, Ukraine return to normal

Argentina stays top exporter to India since war broke out

India-GCC grouping expects to revive free trade agreement negotiations

Launch date of negotiation not divulged

Indian refiners becoming wary of buying Russian oil as EU sanctions loom

Chinese refiners have already begun slowing down Russian oil imports from next month

Dollar still being used to import Russian oil by Indian companies: Report

According to Indian importers, the rupee trade mechanism that was devised in July by the Reserve Bank of India (RBI) has not gained much traction yet

India continues with Russian oil buys, cuts shipments from Saudi

Saudi Arabia's decline in India's oil market has coincided with Russia's rise, and ironically occurred amid growing diplomatic ties between Riyadh and New Delhi

Rupee marks biggest monthly losing streak since 1985, braces for Fed move

Oil importers' dollar purchases, breach of technical levels drag rupee lower

India's Sept crude oil imports fall 6.7% to 16 mn tonnes; 5.8% YoY decline

Oil product imports came in lower for a second straight month, falling about 4% from a month earlier to 3.48 million tonnes in September, while exports dropped 4.8%