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Crude Oil Imports

Crude Oil Imports Up 52.58% To $146.57 Billion In April-November

Crude Oil Imports Up 52.58% To $146.57 Billion In April-November: Commerce Ministry Data

Coal and coke imports have increased by 97.66 per cent to USD 37.25 billion during April-November period this fiscal, the data showed

16 December 2022

India's Trade Deficit Widens To $28 Billion; Exports Dip By 3.5% In September 

Imports during the month, however, grew by 5.44 per cent to $59.35 billion as against $56.29 billion in September 2021, the data showed

04 October 2022

Govt Slaps Export Tax On Petrol, Diesel; Windfall Tax On Domestic Crude Oil

The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel to markets such as Europe and the US

01 July 2022

Saudi Arabia Defends Output Cut, Says OPEC+ Doing Right Job For Stable Market

The minister is on a day-long visit to prepare the ground for Saudi Prime Minister and Crown Prince Mohammed bin Salman's trip to India next month

21 October 2022

Crude Oil

India's Oil Demand To Increase By 7.7% In 2022: OPEC

India's demand for oil products is projected to rise from 4.77 million barrels per day (bpd) in 2021 to 5.14 million bpd in 2022, OPEC said in its monthly oil report

17 August 2022

Industry Welcomes Deregulation Of Locally Produced Oil

The government on June 29 allowed firms like ONGC and Vedanta to sell locally produced crude oil to any Indian refinery for turning it into fuels such as petrol and diesel

30 June 2022

Narendra Modi

PM Modi Laments High Fertiliser, Palm Oil Import Bills, Pushes For ‘AtmaNirbharta’

Last fiscal, India's vegetable oil imports shot up by 70.72 per cent on an annual basis to USD 18.93 billion. In 2021-22, India imported petroleum and crude & products valued at USD 160.68 billion, up nearly 94 per cent.

17 October 2022

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Pakistan Open To Buying Cheap Oil From Russia If No Sanctions Imposed: Minister

Pakistan’s fuel imports are expected to hit a four-year high in June, touching 7,00,000 tonnes, up from 6,30,000 last month, according to data from Refinitiv

29 June 2022

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29 June 2022
China To Subsidise Refiners If Global Oil Prices Surpass $130

China To Subsidise Refiners If Global Oil Prices Surpass $130

The move will safeguard the stable supply of fuels, alleviate the burden on downstream enterprises and consumers, and lower the operating costs of the real...


29 June 2022
Govt Gives ONCG, Vedanta Freedom To Sell Crude Oil

Govt Gives ONCG, Vedanta Freedom To Sell Crude Oil

While contracts for oilfields awarded since 1999 gave producers the freedom to sell oil, the government fixed buyers for crude produced from older fields, such...


13 June 2022
Crude Response: How Modi Govt Defied Western Powers To Safeguard India's Economic Interest

Crude Response: How Modi Govt Defied Western Powers To Safeguard India's Economic Interest

India -- the world's third-biggest oil importer - has taken advantage of deeply discounted prices to ramp up oil imports from Russia at a time when global...


27 May 2022
8 Billion Rubles Of Indian Oil Firms Stuck In Russia

8 Billion Rubles Of Indian Oil Firms Stuck In Russia

Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia


24 May 2022
Crude Oil Price At $110/Barrel Not Sustainable, Says Hardeep Singh Puri

Crude Oil Price At $110/Barrel Not Sustainable, Says Hardeep Singh Puri

International oil prices spiked this year, hitting a near 14-year high of USD 140 a barrel in March, after Russia's invasion of Ukraine exacerbated supply...


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24 May 2022
India's Crude Oil Production Falls 1% In April

India's Crude Oil Production Falls 1% In April

India produced 2.47 million tonnes of crude oil in April, down from 2.5 million tonnes in the same month last year


04 May 2022
India's Oil Import From Russia Is Minuscule: Government

India's Oil Import From Russia Is Minuscule: Government

India, it said, has been constrained to pay ever-increasing prices charged by certain oil suppliers, which is leading India to diversify its sources of...


24 April 2022
India's Oil Import Bill Doubles To $119 Billion In FY22 Amid Soaring Energy Prices

India's Oil Import Bill Doubles To $119 Billion In FY22 Amid Soaring Energy Prices

India spent $13.7 billion in March alone when oil prices surged to a 14-year high. This compared with $8.4 billion spending in the same month last year.


03 April 2022
Petrol, Diesel Prices Hiked By 80 Paise; Check Fuel Rates Here

Petrol, Diesel Prices Hiked By 80 Paise; Check Fuel Rates Here

Petrol in Delhi will now cost Rs 103.41 per litre as against Rs 102.61 previously, while diesel rates have gone up from Rs 93.87 per litre to Rs 94.67


02 April 2022
India’s Oil Import From Russia Is Much Ado About Nothing

India’s Oil Import From Russia Is Much Ado About Nothing

Warding off pressure from the US government, finance minister Nirmala Sitharaman has categorically said that in national interest, India will continue to buy...


27 March 2022
Ukraine War Hits Europe's Climate Goals As It Seek Alternative To Russian Energy Supplies

Ukraine War Hits Europe's Climate Goals As It Seek Alternative To Russian Energy Supplies

In the near-term, ending energy ties with Russia puts the focus on securing alternative sources of fossil fuels. But longer term, the geopolitical and price...


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27 March 2022
Market Outlook: Stock Markets Likely To Face Volatility, Global Factors To Remain In Focus

Market Outlook: Stock Markets Likely To Face Volatility, Global Factors To Remain In Focus

According to market analysts, the scheduled monthly expiry of March month derivatives contracts would keep volatility high this week.


19 March 2022
 Iran Ready To Meet India's Energy Needs, Moots Relaunching Rupee-Rial Mechanism

 Iran Ready To Meet India's Energy Needs, Moots Relaunching Rupee-Rial Mechanism

Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal...


19 March 2022
India's Legitimate Energy Transactions Should Not Be Politicised: Report

India's Legitimate Energy Transactions Should Not Be Politicised: Report

India has to keep focussing on competitive energy sources and it welcomes offers from all oil producers as geopolitical developments have posed significant...


18 March 2022
India's Crude Oil Imports Surge In Feb Amid High Demand: Report

India's Crude Oil Imports Surge In Feb Amid High Demand: Report

Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets


17 March 2022
India's Oil Demand Likely To Jump 8% In 2022

India's Oil Demand Likely To Jump 8% In 2022

India's oil demand rose from 4.51 million barrels per day in 2020 to 4.76 million bpd in 2021, recording a 5.61 per cent growth.


17 March 2022
HPCL Buys 2 Million Barrel Of Russian Urals Crude: Report

HPCL Buys 2 Million Barrel Of Russian Urals Crude: Report

The development comes days after Indian Oil Corporation bought three million barrels of Russian crude oil. Meanwhile, the government of India is planning to...


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