Page 2 - Oil Imports

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%

India's Russian oil binge sends West Asian imports to 19-month low

India's imports from the West Asia fell to about 2.2 million bpd, down 16.2% from August

India to soon sign long-term deal to export oil from Namibia: Report

Recently, IOC signed a deal to procure oil from Colombia's Ecopetrol SA and Brazil's Petroleo Brasileiro SA (Petrobras)

Russia bounces back to become India's second-largest crude supplier in Sep

Russian oil has become the mainstay of Indian refiners in only six months, a position which took decades for West Asian suppliers and the US to achieve

Lankan official blames poor quality oil imports for power plant's shutdown

A senior Sri Lankan official has blamed poor quality crude oil imports for the shutdown of a power plant, leading to extended blackouts amid the ongoing economic crisis in the island nation

US-India in talks to reduce country's dependence on Russian arms, energy

Russia is "no longer a reliable weapons supplier", and Indians are "coming to understand" that they could benefit from finding other suppliers, an official of the US State Department said

Pakistan in talks with Russia on importing oil on deferred payment: Report

Pakistan is in talks with Russia on the possibility of importing oil on deferred payment, according to a media report on Sunday. Prime Minister Shehbaz Sharif had three meetings with Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Uzbekistan's Samarkand city, which concluded last week, the Express Tribune newspaper reported quoting a top government official. "One was formal and the rest were informal," said the official, who was part of the prime minister's delegation. "What we have discussed during the recent interaction with the Russian side is the possibility of importing oil on deferred payment," the official said, adding that Moscow has shown inclination to consider the proposal. If the proposal is materialised, it will be a landmark development given that Pakistan imports oil from Gulf countries and in the past Saudi Arabia and UAE supplied Pakistan oil on deferred payment. However, it is not clear if the government

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

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