Oil Imports

Bank of Baroda stops clearing payment for above-cap Russian oil: Report

The state-run lender told refiners last month that it would not settle payment from Russian barrels bought above the price cap, the three sources said

India will not be impacted by Opec+ production cut, officials say

Industry executives said imports from Russia may rise further as talks are on to address difficulties in paying for Russian crude

India set to surpass China in need for oil as growth paths diverge

With daily crude consumption triple that of China, traders and producers looking to tap into diminishing global demand growth will be betting on India into the next decade

India's Feb crude oil imports jump 8% as demand hits over 2 decade high

India's imports of crude oil in February rose about 8% from a year earlier, government data showed on Wednesday, as fuel demand hit over 2-decade highs in the world's third-biggest oil importer

Iraq reaches out to Indian refiners to discuss crude oil discounts

Focus on buying Russian crude has led to a decline in imports from West Asia

A sugar rush for emissions: Is ethanol-spiked fuel a sweet solution?

Rising compliance with ethanol-spiked fuels in vehicle could be a win-win situation all round

Govt to stop import of crude sunflower seed oil under tariff rate quota

The government on Wednesday said that it has decided to discontinue imports of crude sunflower seed oil under tariff rate quota (TRQ) from April 1 this year. TRQ is a quota for a volume of imports that 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 sunflower seed oil under TRQ has been revised to March 31, 2023. Further, no TRQs shall be allocated for import of crude sunflower seed oil in 2023-24," the directorate general of foreign trade (DGFT) said in a public notice. Earlier in January, a similar decision was taken for crude soybean oil. The duty-free import of 20 lakh MT per year was earlier applicable for two financial years -- 2022-23 and 2023-24 -- for crude sunflower seed oil and crude soya bean oil. For crude sunflower oil, the TRQ was there till June 30 this year.

India's Russian oil imports surge to a record 1.4 mn barrels per day in Jan

Last month Russian oil accounted for about 27% of the 5 million bpd of crude imported by India, the world's third-biggest oil importer and consumer

India's soaring Russian oil imports making rupee payment mechanism futile

New Delhi's imports from Russia in eight months to November were almost 16 times its shipments to the nation, trade ministry data show

Indian refiners may buy Russian oil for domestic demand, export own: Report

With these imports, India can maintain a domestic inventory of refined products like petrol and diesel

Sunflower oil imports rise to record as Russia-Ukraine fight for mkt share

Record imports by India, the world's biggest vegetable oil importer, come as sunoil's discount to rival soyoil widened to the highest level in nine months

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