Oil Imports

Parliament panel flags rising PSU oil capex amid falling domestic crude output

The Committee on Public Undertakings noted that project cycles of oil and gas sector projects, ageing fields and past disruptions have contributed to stagnant or declining domestic production despite high capital expenditure.

White House claims India, China to scale back Russian oil purchases at Trump’s request

The US reiterated that India has agreed to reduce Russian oil imports following new sanctions on Moscow. Trump cited Modi’s assurances, though New Delhi denies any such commitment, prioritising stable energy supplies.

Maintenance by refineries and monsoon lowered India’s July oil purchase, reduced import bill

The lower crude oil import for July was primarily due to scheduled refinery maintenance shutdown and comparatively lower demand due to the monsoon season.

Russia oil prices to India dip on sanctions, threats, says Kpler

The price of Urals, the OPEC+ producer’s flagship oil, is more than $5 a barrel cheaper than Dated Brent

'Unable to accept erosion of dominance': Russia slams US' 'neocolonial' agenda after fresh tariff threats

Moscow further said the US’ tariff approach is against the principles of free trade, which it once propagated

Modi defiant as Trump steps up pressure on India’s Russian oil purchases

The government hasn’t given India’s oil refiners instructions to stop buying Russian oil, and no decision has been taken on whether to halt the purchases

India oil refiners squeezed by anti-Russia push from US and EU

A major buyer of Russian oil, India is now finding itself blindsided by a more aggressive approach to the Kremlin from both Washington and Brussels

Donald Trump slams India and Russia, says they can take their 'dead economies down together'

Trump reiterated that India’s tariffs are too high and the US has done 'very little' business with the country

Indian refiners imported almost 40 percent of crude oil from Russia during May despite threat of Trump’s sanctions

Despite continued threat of sanctions on Russia, India has continued buying oil from Moscow on account of discounts offered, especially on sour grade crude Urals.

Robust domestic demand, Urals’ attractive pricing pump up Russian oil flow to India in April: Kpler

The oil imports from Saudi Arabia and Iraq—India’s traditional suppliers—have also been strong in April as domestic demand remains strong on account of pre-summer logistical build-up, peak agricultural activity and elevated industrial output.

Pricing Power: India may ramp up energy imports from the US, provided the deal is good

Increased US LNG supplies would be a big positive for India as the country sells the cheapest gas in the international market.

Russian oil share to dip for Indian Oil as firm secures no purchase since Jan 10 sanctions

Indian Oil remains confident about energy availability for India saying US sanctions imposed on Russian oil would have "marginal impact" on crude availability for the country, said Chairman A S Sahney.

India to turn to Middle Eastern suppliers for crude oil as US tightens sanctions on Russia

India, which currently imports around 30 percent of its crude oil requirements from Russia, is expected to diversify sources, leaning towards the Middle East on account of proximity.

India’s crude oil imports at four-months high in Nov; jump nearly 7% from Oct

India ramped up oil imports from almost all of its suppliers. Imports of crude oil from Russia—India’s largest crude supplier currently—were up by almost two percent in November as the country imported 1.78 million bpd in the month, as against 1.75 million bpd in October.

Energy availability to be impacted if Middle-East war escalates; India to navigate situation: Hardeep Singh Puri

Crude oil prices have surged due to concerns that Israel may target Iran's oil infrastructure, with benchmark Brent crude now trading around $78-$79 per barrel, up from around $70 last week.

India's May oil imports: Russia at record high, Saudi lowest in 10-months

Higher intake of Russian oil has been denting the share of the Middle Easter oil in India’s crude mix and also that of oil producers cartel OPEC, the data showed.

India’s net oil and gas import bill balloons to $12 billion in Apr as imports soar

India’s oil imports jumped by seven percent in the month from last year while the average Indian basket crude price also rose in April, according to the monthly report by Petroleum Planning & Analysis Cell (PPAC).

India’s crude oil imports from Russia jump 18% in April amid decline in total imports

The rise in oil supply from Moscow comes amid reports of narrowing discounts on Russian oil and tighter US sanctions on the country.

India’s oil consumption rises 4.6% in FY24 but domestic production remains steady

Domestic crude oil production in FY24 was 29.4 MMT, almost steady from 29.2 MMT in the previous year. In turn, India’s crude oil imports were the highest in the year as the country met 87.7 percent of its oil requirements from supply from other countries.