Page 3 - Oil Imports
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
 "India's crude oil imports from US dip by one million tonnes in June quarter")
India's self-reliance ambition in energy sector faces rising import hurdle
During the financial year 2021-22, India's petroleum imports was around 23.8 per cent of its gross imports and the country was dependent on imports for 86 per cent of its crude oil requirement
 "India's self-reliance ambition in energy sector faces rising import hurdle")
Keeping Europe warm this winter will come down to Asia's weather amid war
The Asian countries, among the world's biggest importers of liquefied natural gas and seaborne coal, all share a peak heating demand season during the winter with Europe
 "Keeping Europe warm this winter will come down to Asia's weather amid war")
Russia undercuts Saudi Arabian oil in India as competition heats up
Russian barrels were cheaper than Saudi crude during April through June, with the discount widening to almost $19 a barrel in May
 "Russia undercuts Saudi Arabian oil in India as competition heats up")
India likely to restart Ukraine sunflower oil imports as trade eases
About 50,000 to 60,000 tonnes may arrive as Ukraine is set to open some Black Sea corridors for agricultural exports
 "India likely to restart Ukraine sunflower oil imports as trade eases")
Pakistan's current account deficit rises to 4-year high of $17.4 bn in FY22
The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of USD 17.406 billion in FY22 compared to a gap of just USD 2.82 billion in FY21.
 "Pakistan's current account deficit rises to 4-year high of $17.4 bn in FY22")
Traffic surge at ports a sign of India's economic revival: Report
Both coal and crude oil grew 16 per cent year-on-year (YoY), accounting for 105 mt and 65 mt of traffic in the first quarter, even on the back of record high prices
 "Traffic surge at ports a sign of India's economic revival: Report")
India's June crude oil imports up 21% on demand recovery, Russian discounts
Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.
 "India's June crude oil imports up 21% on demand recovery, Russian discounts")
Amid hiked dollar demand from oil importers, rupee falls 4 paise to 79.96
The rupee depreciated 4 paise to 79.96 against the US dollar in opening trade on Wednesday amid demand for dollar from oil importers and firm crude oil prices
 "Amid hiked dollar demand from oil importers, rupee falls 4 paise to 79.96")
The emerging stress in imports: Surprisingly, it's coal more than oil
Surprisingly, its coal more than oil that is emerging as a huge pressure point
 "The emerging stress in imports: Surprisingly, it's coal more than oil")
Russia's share of India's June oil imports surges to record 950,000 bpd
NEW DELHI (Reuters) - India's oil imports from Russia surged to a record of around 950,000 barrels per day (bpd) in June, accounting for nearly a fifth of overall imports by the world's third largest oil consumer, data provided by trade sources showed.
Oil prices rebound from Tuesday tumble as supply concerns regain footing
Oil prices have risen owing to supply concerns worldwide
Russia may be India's biggest crude supplier in June, a historic first
Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude
 "Russia may be India's biggest crude supplier in June, a historic first")
India's Russian imports up 3.5 times on oil buys despite Western pressure
It's now the 4th largest petroleum supplier for India with exports worth $1.3 bn in April
 "India's Russian imports up 3.5 times on oil buys despite Western pressure")
GIC Re part of Rs 500-crore insurance pool to cover imports from Russia
While it will be called the fertiliser pool with a corpus of Rs 500 crore, it can be used to cover the risks of oil and gas imports too
 "GIC Re part of Rs 500-crore insurance pool to cover imports from Russia")
India proposes settling Russia trade in rupees as purchases rise: Report
New Delhi plans to use about $2 billion equivalent of rupees deposited at Russia's state-controlled VTB Bank PJSC and Sberbank of Russia PJSC
 "India proposes settling Russia trade in rupees as purchases rise: Report")
US gasoline average price tops $5 per gallon in historic first, shows data
AAA data showed that the US gasoline prices crossed $5 per gallon for the first time in history, sending mixed reactions across the globe
 "US gasoline average price tops $5 per gallon in historic first, shows data")
Japan joins G-7 against Ukraine invasion, will quit Russian oil imports
It's an extremely difficult decision for a country that mostly relies on energy imports, including oil, Kishida told reporters Monday. But G-7 unity is most important right now.
 "Japan joins G-7 against Ukraine invasion, will quit Russian oil imports")
Govt exploring Rupee-Rouble payment for fuel import amid sanction: Report
The government is exploring a payment mechanism for the import of oil from Russia in view of the sanctions imposed by the US and European countries following Moscow's attack on Ukraine.
 "Govt exploring Rupee-Rouble payment for fuel import amid sanction: Report")
China's April Saudi oil imports soar 38% on year, Russian oil up 4%
Saudi shipments amounted to 8.93 million tonnes last month, equivalent to 2.17 million barrels per day (bpd), according to data from the Chinese General Administration of Customs
 "China's April Saudi oil imports soar 38% on year, Russian oil up 4%")
