Russia is selling record amounts of crude oil to India to plug the gap in its energy exports after the European Union banned imports.
Russia continued to be the single largest supplier of crude oil, which is converted into petrol and diesel at refineries, for a sixth straight month by supplying more than one-third of all oil India imported, according to...
Russia, which made up for just 0.2 per cent of all oil imported by India in the year to March 31, 2022, supplied 9,09,403 barrels per day (bpd) of crude oil to India in November
Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia, including a 49.9 per cent stake in the Vankorneft oil and gas field and another 29.9 per cent in the TAAS-Yuryakh...
Oil from Russia is being sold at a discount after some buyers in the west shunned it after Moscow invaded Ukraine
Russia has displaced Saudi Arabia as India's second-largest oil supplier as Russian oil prices went down considerably after its Ukraine invasion.
Many countries in the so-called Global South including India have stayed mostly neutral over Russia's aggression against Ukraine.
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 procurement
The government is in talks with Russia to liberalize market access for several Indian-made products
Warding off pressure from the US government, finance minister Nirmala Sitharaman has categorically said that in national interest, India will continue to buy...
Germany's imports of Russian gas have also reduced from around 55 per cent to 40 per cent.
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...
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...
Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets
US President Joe Biden last week announced a ban on Russian oil and gas imports over the country's invasion of Ukraine, targeting the main artery of Russia's...
Imports during the month too jumped 36 per cent to $55.45 billion, with inbound shipments of petroleum and crude oil surging 69 per cent to $15.28 billion.
The move follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission in...
