India Oil Reserves

BPCL plans to shut Bina refinery in June for a month for maintenance

The state-run refiner also plans to shut half of its 240,000 bpd Mumbai refinery in western India for three to four weeks in September-October for maintenance

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)

World Bank welcomes India's move of selling oil from its stockpiles

World Bank President David Malpass has welcomed India's move to begin selling oil from its stockpiles

India supports release of oil from reserves to cool prices: Union minister

As oil prices dived on news that the US was considering record release from the reserves, India said it supports the initiative to let out from the strategic stockpile to cool rising oil prices

Govt indicates readiness to release more oil reserves amid Ukraine crisis

'Govt of India is ready to take all appropriate action, as deemed fit, for mitigating market volatility and calming the rise in crude oil prices,' MoS Rameswar Teli said

Oil prices slip on talks over release of emergency crude reserves

Oil prices dropped on Tuesday on growing talks that the United States, Japan and India will release crude reserves to tame prices

India starts selling oil from strategic reserves after policy shift: Report

India, the world's third-biggest oil importer and consumer that imports over 80% of its oil needs, is mirroring a model adopted by some other countries.

India again urges OPEC to phase out oil output cuts

India, the world's third-biggest oil importer and consumer, relies on overseas supplies for over 80% of its oil needs.

Next oil reserves plan by Sept, to see Rs 14K-crore investment: ISPRL

Request for proposal document awaiting Centre's nod

India saved Rs 5,000 cr by filling reserves with low-priced oil: Pradhan

The average cost of procurement of crude oil was $19 per barrel, as compared to $60 a barrel prevailing during January 2020

India's crude, gas consumption up but output fell in last 10 years: Report

India is second biggest growth driver of primary energy consumption in the world, behind China.

Forward premia slide as markets see dollar crunch despite crude oil mayhem

The forward premium comes down when the demand for the spot is more than the future dollar

India plans to fill strategic petroleum reserves with cheap Saudi, UAE oil

Leading OPEC producers Saudi Arabia and Abu Dhabi have said they will increase output while cutting prices, giving big consumers the chance to fill up at discounted prices

Saudi Aramco to keep 4.6 mn barrels of oil in India's Padur reserve: Govt

So far, Abu Dhabi National Oil Co is the only foreign company storing oil in India's strategic reserves, at Mangalore, also in Karnataka

Letter to BS: Over dependency on Middle East for oil may hit India hard

India's demand for crude is assessed at 8.2 million bbl/d by 2040, while domestic production will remain relatively flat at around 1 million bbl/d

India seeks Saudi investment in strategic oil storage to resurrect refinery

Saudi Oil Minister, on his second visit to India in three weeks, discussed with its Indian counterpart Dharmendra Pradhan the 60 million tonne (MT) a year mega oil refinery cum petrochemical complex