Crude oil imports

India importing crude from 40 countries; Argentina is new supplier: Hardeep PuriIndia importing crude from 40 countries; Argentina is new supplier: Hardeep Puri

India importing crude from 40 countries; Argentina is new supplier: Hardeep Puri

Petroleum minister Hardeep Puri on Monday said that India is open to importing crude oil from all possible sources to…

3 months ago
India’s crude imports will not be impacted by Israel-Iran conflict: ExpertsIndia’s crude imports will not be impacted by Israel-Iran conflict: Experts

India’s crude imports will not be impacted by Israel-Iran conflict: Experts

The ongoing conflict between Israel and Iran is not expected to have a significant impact on India's crude oil imports,…

7 months ago
RBI sees price of India’s crude oil imports at $85 a barrel in 2024-25RBI sees price of India’s crude oil imports at $85 a barrel in 2024-25

RBI sees price of India’s crude oil imports at $85 a barrel in 2024-25

The RBI expects the price of the Indian basket of crude oil imports to be around $85 per barrel going…

1 year ago
With food security on the radar, India, Iran look at expanding agri-partnershipWith food security on the radar, India, Iran look at expanding agri-partnership

With food security on the radar, India, Iran look at expanding agri-partnership

As India and Iran reboot their ties, issues related to food security and cooperation in the agriculture sector are set…

2 years ago
India’s energy supplies from Russia to remain intact despite Moscow’s cut in productionIndia’s energy supplies from Russia to remain intact despite Moscow’s cut in production

India’s energy supplies from Russia to remain intact despite Moscow’s cut in production

India’s crude supplies from Russia are expected to remain intact or even rise despite Moscow’s decision to cut down on…

2 years ago
India-Russia energy partnership is here to stay, likely to outlast Ukraine warIndia-Russia energy partnership is here to stay, likely to outlast Ukraine war

India-Russia energy partnership is here to stay, likely to outlast Ukraine war

As India’s fuel demand is expected to rise substantially fuelled by a healthy pickup in economic activities, New Delhi is…

2 years ago
India becomes Russia’s key oil export market as fallout of Ukraine warIndia becomes Russia’s key oil export market as fallout of Ukraine war

India becomes Russia’s key oil export market as fallout of Ukraine war

As the year 2022 came to a close, India became the main outlet for Russian seaborne Urals. According to Hellenic…

2 years ago
Moscow hails India’s stand on oil price capMoscow hails India’s stand on oil price cap

Moscow hails India’s stand on oil price cap

Moscow has welcomed India’s decision not to stick to the G7's decision of imposing a price cap on Russian oil.…

2 years ago
West eyes India as it looks to push exports to RussiaWest eyes India as it looks to push exports to Russia

West eyes India as it looks to push exports to Russia

The world, including India's partners in the Indo-Pacific QUAD, including the United States, Japan and Australia are closely monitoring New…

2 years ago
India-Russia bilateral trade zooms–set to cross $30 bn by next yearIndia-Russia bilateral trade zooms–set to cross $30 bn by next year

India-Russia bilateral trade zooms–set to cross $30 bn by next year

Bilateral trade between India and Russia is all set to exceed $30 billion in the next one year-- much before…

3 years ago
Oil prices in global markets start declining, easing pressure on India’s soaring oil import billOil prices in global markets start declining, easing pressure on India’s soaring oil import bill

Oil prices in global markets start declining, easing pressure on India’s soaring oil import bill

<p> Global oil prices have been easing for the last few weeks though on Monday they rose marginally. This will…

3 years ago
After drop in petrol and diesel prices, will GST and direct tax collections be enough to make up for the loss to the exchequer?After drop in petrol and diesel prices, will GST and direct tax collections be enough to make up for the loss to the exchequer?

After drop in petrol and diesel prices, will GST and direct tax collections be enough to make up for the loss to the exchequer?

<p> <strong>The Centre, which finally drastically slashed domestic fuel prices, is hoping to make up a part of the losses…

3 years ago
Surge in crude oil prices due to Ukraine war hits global economySurge in crude oil prices due to Ukraine war hits global economy

Surge in crude oil prices due to Ukraine war hits global economy

<p> <strong>The rupee on Monday hit a record low of over 77 to a US dollar amid rising geopolitical tension…

3 years ago
Oil prices could cross $100 a barrel if Iran nuclear deal is not reachedOil prices could cross $100 a barrel if Iran nuclear deal is not reached

Oil prices could cross $100 a barrel if Iran nuclear deal is not reached

<p> <strong>Amid rising geopolitical tensions that have pushed up global oil prices, all eyes are now on Iran. Though in…

3 years ago
Explainer: Why are global oil prices going up? What does this mean for India?Explainer: Why are global oil prices going up? What does this mean for India?

Explainer: Why are global oil prices going up? What does this mean for India?

<p> <strong>What is the current global oil price?</strong></p> <p> The global oil prices are high at this point. Two days…

3 years ago

Unrest in Kazakhstan threatens oil and nuclear fuel supplies

<p> <strong>The deepening of the ongoing political turmoil in Kazakhstan has left several countries including China worried. The unrest has…

3 years ago

Forex crisis may lead to closure of Sri Lanka’s only oil refinery unless India steps in

<p> Sri Lanka is once again looking at closing down the Sapugaskanda Oil Refinery as paucity of foreign exchange has…

3 years ago

Global crude oil prices drop amid fear of new Covid 19 variant

<p> <strong>Global crude oil price fell below the $80 a barrel amid fear spooking investors of a new Covid 19…

3 years ago

India, US, Japan, China and UK to release crude oil from strategic reserves in bid to cool prices

<p> India has decided to release 5 million barrels of crude oil from its strategic petroleum reserves simultaneously with the…

3 years ago

Oil prices in global market soar to 3-year high of $85.75 a barrel, spell trouble for India

<p> Oil prices in the international market soared to a three-year high of $85.75 a barrel on Monday spelling trouble…

4 years ago

Iran throws Taliban a lifeline by resuming oil supply to Afghanistan

<p> In a major development that will provide the Taliban some relief, Iran has resumed supply of gasoline and gasoil…

4 years ago