Page 2 - India Oil Imports

India's palm oil imports rise 18% in Sept, veg oil up 17% MoM: Trade body

India's palm oil imports in September jumped about 18% from the previous month to 1.17 million tonnes, while vegetable oil imports rose about 17% to 1.64 million tonnes, a trade body said on Thursday.

India clear about its policy regarding oil purchases, says Hardeep Puri

India has reiterated its choice of importing oil from countries like Russia after OPEC Plus, a consortium of oil-producing nations led by Russia and Saudi Arabia announced a slash in oil production

ONGC Videsh to invest $1 billion in offshore block held by Petrobras

Brazil's Petroleo Brasileiro SA (Petrobras) owns a 75 per cent stake in the block and the rest 25 per cent is held by OVL, it will raise its stake in the block

India plans to set up strategic gas reserve amid global energy crisis

Amid a deepening global energy crisis, India is planning to set up a strategic gas reserve on the lines of its strategic petroleum reserve (SPR)

Latest news LIVE: India logs 4,043 new Covid cases; active tally declines

From Covid to all other developments, catch all the live news updates here

Why are fuel prices at pumps not going down?

From $124 in March, price of crude oil has come down below $90 now. Add it with the oil imports from Russia, the retail prices of fuel should have come down now by now. But it's not. Find out why

India's Aug crude imports fall 13% on monthly basis on monsoon demand lull

Crude imports last month fell to 17.55 mn tons from July, data from Petroleum Planning and Analysis Cell showed. But, imports in August were up 0.9%, compared with corresponding period last year

Govt holding bilateral talks over Gazprom-GAIL issue, won't seek penalty

The centre may neither pursue arbitration with Gazprom, the world's largest natural gas explorer, nor accept a penalty from the company after it halted supplies to GAIL in May

Saudi Arabia overtakes Russia to be India's no 2 oil supplier in August

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August

Edible oil imports surge 35% in Aug as share of Russia, Argentina rises

RBD palmolein now constitute 12% of total imports of edible oils against 2% last year

Top Headlines: Gyanvapi verdict today, Russia's discounted oil, and more

In a bid to counter the growing clamour among the G7 nations to enforce a price cap on Russian oil, Moscow told New Delhi it is willing to provide petroleum at even lower rates than before to India

Rs 500 cr insurance pool helps India withstand G7 cap on Russian oil

Pool has already insured over 25 voyages, since it was formed in June under national reinsurer GIC Re, says top official

Explained: How have India's crude import sources changed over time?

The top three countries have changed significantly before and after the military action in Ukraine

Import of Russian oil at discounted price part of inflation management: FM

Finance Minister Nirmala Sitharaman on Thursday said India has ramped up the import of crude oil from Russia at discounted prices amid sanctions on Moscow as part of the country's inflation management. "In a situation where global prices were going beyond anyone's affordability, at that stage to take a very strong political decision, I respect the Prime Minister for his courage on this to get it from Russia because they are ready to give it to you at discount. And how speedily did we manage to do it," she said. India ramped up its import from Russia from about 2 per cent of the total shipment of petroleum products to 12-13 per cent in a couple of months as part of inflation management, she said at a seminar organised by economic think-tank Icrier. Amid sanctions imposed on Moscow due to the Russia-Ukraine war, some countries, including India, entered into bilateral deals for the purchase of oil and gas at discounted prices. "I give credit to the statesmanship of the Prime Minister

Will join Russia oil cap coalition when alternative supply is ensured: Govt

India has said it will consider backing the price cap on Russian crude oil proposed by the US only when it will be assured of supplies from Venezuela and Iran

India's oil imports from Russia fall in last two months, down 25% from June

In August, India imported 7,38,024 barrels per day from Russia, 18 per cent lower than in July

Iraq leads with discounts as W Asia retains top slot in Indian oil market

Iraq, India's biggest crude oil supplier, maintained its lead over Russia in August, supplying 12-20 per cent more to India in the first 30 days of the month

India's crude oil imports from US dip by one million tonnes in June quarter

At the same time, share of Russian oil in India's crude basket rose from 2.2% in FY22 to 12.9% in the first quarter of FY22

Gulf won't significantly cut down oil exports to India to satisfy Europe

Gulf oil exporters will most likely not cut crude supplies to India significantly next year in a bid to satisfy growing demand from Europe

India to start supplying petrol with 20% ethanol from April 2023: Puri

India will start supplying petrol with 20 per cent ethanol at select petrol pumps from April next year and will ramp up supplies thereafter as it looks to cut oil import dependence