PM Modi may stopover in Riyadh to firm up oil deals
5 years, 3 months ago

PM Modi may stopover in Riyadh to firm up oil deals

India TV News  

Amid reports that Saudi Aramco is set to announce its IPO next month, which would be the world's largest-ever listing, India would be looking to expedite the $44 billion West Coast refinery project in Maharashtra, in which Saudi Aramco is to hold considerable stake, as well Reliance Industries Ltd $15 billion deal with the Saudi oil giant to sell 20 per cent stake in its flagship chemicals and refining business. Global majors Saudi Aramco and Abu Dhabi National Oil Company had formed a joint venture with Indian state-run oil marketing companies - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - to hold 50 per cent stake in the Ratnagiri Refinery and Petrochemicals, known as the West Coast refinery project. In 2017-18, India's crude oil imports from Saudi Arabia stood at 36.8 million tonnes, accounting for 16.7 per cent of its total imports. During the Crown Prince's visit to India, both sides had also discussed Saudi Arabia's participation in the Indian Strategic Petroleum Reserve Programme - three massive underground storage facilities that India is building to ensure energy security.

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History of this topic

Middle East share of India’s Nov oil imports at 9-month high; Russia down
2 weeks, 4 days ago

Middle East share of India’s Nov oil imports at 9-month high; Russia down

Live Mint  

By Nidhi Verma NEW DELHI - India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. The world's third biggest oil importer and consumer in November shipped in 13% less Russia oil compared with October at 1.52 million barrels per day, …

India saved USD 13 billion by importing discounted Russian crude
8 months, 1 week ago

India saved USD 13 billion by importing discounted Russian crude

New Indian Express  

NEW DELHI: India has saved around $13 billion by importing discounted crude oil from Russia in the past two years, according to a study by ICRA, the rating agency. According to energy cargo tracker Vortexa, India received 1.36 million barrels of crude oil per day from Russia in March 2024, compared to 1.27 million barrels per day in February 2024. …

Saudi Arabia Needs Oil Price Near $100, IMF Says
8 months, 3 weeks ago

Saudi Arabia Needs Oil Price Near $100, IMF Says

Hindustan Times  

Saudi Arabia will need a higher oil price than previously thought this year as the OPEC leader spearheads the group’s production cuts, according to the International Monetary Fund. Saudi Arabia Needs Oil Price Near $100, IMF Says Riyadh will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady near 9.3 …

Eye on the Middle East | Saudi-Pakistan joint statement on Kashmir shows Riyadh’s balancing act
8 months, 4 weeks ago

Eye on the Middle East | Saudi-Pakistan joint statement on Kashmir shows Riyadh’s balancing act

Hindustan Times  

On April 8, a Saudi Arabia-Pakistan joint statement caught media attention in India for its reference to the Kashmir dispute. Released during Pakistan premier Shehbaz Sharif’s official visit to the kingdom, the statement called for “dialogue between Pakistan and India to resolve outstanding issues…especially the Jammu and Kashmir dispute…” The language seemingly echoes India’s post-1972 position that the dispute shall …

India's crude oil output rises 7.9% to 2.3 MMT in February, imports decline 6.6% YoY: PPAC
9 months, 2 weeks ago

India's crude oil output rises 7.9% to 2.3 MMT in February, imports decline 6.6% YoY: PPAC

Live Mint  

India produced a total of 2.3 million metric tonnes of crude oil in February 2024 - registering a growth of 7.9 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports decreased by 6.6 per cent and increased by 0.4 per cent during February 2-24 and April-February 2024 respectively, compared to the corresponding …

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC
10 months, 2 weeks ago

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in January 2024 - registering a growth of 0.7 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports increased by 5.7 per cent and 0.9 per cent during January 2024 and April-January 2023-24 respectively, compared to the corresponding period of …

Saudi Arabia's oil giant Aramco says it will not increase maximum daily production on state orders
11 months, 1 week ago

Saudi Arabia's oil giant Aramco says it will not increase maximum daily production on state orders

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's oil giant Saudi …

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC
11 months, 2 weeks ago

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC

Live Mint  

Crude oil imports increased by 1.1 per cent and 0.4 per cent during December 2023 and April-December 2023 respectively, compared to the corresponding period of the previous year. The cumulative natural gas consumption for the current financial year till December 2023 stood at 49,540 MMSCM, which was higher by 9.4 per cent compared with the corresponding period of the previous …

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC
1 year, 1 month ago

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in October 2023 - registering a growth of 1.3 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. According to PPAC data, crude oil imports increased by 2.2 per cent and by 0.6 per cent during October 2023 and April-October 2023 respectively, compared …

Abu Dhabi considers investment worth $50 billion in India
1 year, 2 months ago

Abu Dhabi considers investment worth $50 billion in India

Firstpost  

Over the past decade, the two nations have been working to strengthen their relationship and have set a goal to increase non-oil bilateral trade to $100 billion. Notably, Modi’s recent visit to Abu Dhabi marked his fifth trip to the Gulf nation since assuming office as the Prime Minister in 2014. Earlier this year, India and the UAE set a …

India tells OPEC it must be sensitive to needs of oil consuming nations
1 year, 3 months ago

India tells OPEC it must be sensitive to needs of oil consuming nations

Live Mint  

New Delhi: With oil prices on the boil, union petroleum and natural gas minister Hardeep Singh Puri has asked the Organisation of the Petroleum Exporting Countries to be sensitive to the needs of oil-consuming nations and curb output cuts. In another tweet, the minister wrote, "During the pandemic, when crude oil prices crashed, the world came together to stabilize the …

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl
1 year, 3 months ago

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl

Live Mint  

India's oil products demand increased by 118,000 barrels per day on a month on month basis in August as below-average rainfall and uneven distribution led to strong factory activity and increased mobility, according to a report by S&P Global Commodity Insights. On a year-on-year basis, the oil demand was up by 270,000 barrels per day, or 6 per cent, over …

Mint Explainer: India-Saudi Arabia deals - A bull-run in the making?
1 year, 3 months ago

Mint Explainer: India-Saudi Arabia deals - A bull-run in the making?

Live Mint  

As India fortifies its economic links with the Middle East, particularly through newly inked Memoranda of Understanding with Saudi Arabia, shares of several Indian-listed companies are experiencing a positive nudge. Companies like Essar are already capitalizing on these agreements by expanding their steel operations in Saudi Arabia, particularly in areas requiring technology to reduce carbon emissions. A closer look at …

DC Edit | Good Saudi ties to help India
1 year, 3 months ago

DC Edit | Good Saudi ties to help India

Deccan Chronicle  

The Crown Prince who is its Prime Minister as well the prime mover of modernisation of the Kingdom of Saudi Arabia was not letting out a secret when he said that there had been no disagreement in the history of India-Saudi Arabia relations. The strong historical ties received a healthy boost with Mohamed bin Salman, staying back after the G-20 …

OPEC cuts 2023 oil demand outlook to 29 mbpd, Saudi cut gives 3 mbpd shortfall
1 year, 3 months ago

OPEC cuts 2023 oil demand outlook to 29 mbpd, Saudi cut gives 3 mbpd shortfall

Live Mint  

The Organisation of Petroleum Exporting Countries, in its latest monthly oil market report for September, has revised down the global oil demand for 2023 by 1 lakh barrels per day to 29.2 million barrels per day - which is 8 lakh bpd higher than 2022. The report comes days after Saudi Arabia and Russia, two of the most prominent members …

OPINION | HOW INDIA WILL BENEFIT FROM SAUDI FRIENDSHIP?
1 year, 3 months ago

OPINION | HOW INDIA WILL BENEFIT FROM SAUDI FRIENDSHIP?

India TV News  

The state visit of Saudi Arabian Crown Prince Mohammed bin Salman, close on the heels of the successful G-20 Delhi Summit, has underlined the deep strategic friendship between both countries. Saudi Arabia is India’s fourth largest trading partner and India imports 18 per cent of crude from Saudi Arabia. Since Narendra Modi became Prime Minister, he has visited Saudi Arabia …

Modi, MBS boost hydrocarbon ties
1 year, 3 months ago

Modi, MBS boost hydrocarbon ties

Deccan Chronicle  

New Delhi: Prime Minister Narendra Modi and Saudi Crown Prince and Prime Minister Mohammed bin Salman agreed to elevate the hydrocarbon relationship between the two nations into a comprehensive strategic energy partnership in New Delhi on Monday. Saudi Arabia currently ranks as India's third-largest supplier, and Modi hailed Saudi Arabia as "one of the most important strategic partners for India." …

Opinion: Saudi Crown Prince's post-G20 summit stay can open new vistas in bilateral ties
1 year, 4 months ago

Opinion: Saudi Crown Prince's post-G20 summit stay can open new vistas in bilateral ties

India Today  

The fact that the Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, is staying in India on an official bilateral visit after the G20 summit affirms the deep bilateral ties that exist between the two neighbours linked by the Arabian Sea. Saudi Arabia took the lead in pursuing a “strategic partnership” with India on the basis of …

Saudi Arabian oil giant Aramco reports $30B in Q2 profits, down nearly 40% from last year
1 year, 5 months ago

Saudi Arabian oil giant Aramco reports $30B in Q2 profits, down nearly 40% from last year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's state-run oil giant …

Eye on oil: on oil prices and India
1 year, 7 months ago

Eye on oil: on oil prices and India

The Hindu  

The world’s largest grouping of crude oil producers, commonly known as OPEC+, agreed on Sunday to extend ongoing production cuts into 2024 as it seeks to keep oil prices from falling amid concerns about a global economic slowdown. OPEC major and leading producer Saudi Arabia also voluntarily vowed to reduce output by an extra 1 million barrels per day in …

India’s imports from OPEC at all-time low as demand for Russian oil goes up
1 year, 8 months ago

India’s imports from OPEC at all-time low as demand for Russian oil goes up

Live Mint  

Oil producers cartel OPEC's share in India's oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organization of the Petroleum Exporting Countries nations, mainly in the Middle East and Africa, had a 72 per cent share of all crude oil India imported in April 2022. OPEC …

India is now Europe's largest supplier of refined fuels: Kplr
1 year, 8 months ago

India is now Europe's largest supplier of refined fuels: Kplr

The Hindu  

India has become Europe's largest supplier of refined fuels this month while simultaneously buying record amounts of Russian crude, according to data from analytics firm Kpler. Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show. It also means that more competition for Europe's …

Morning brief: Saudi, Russia plan to cut oil production. Will it impact India?
1 year, 8 months ago

Morning brief: Saudi, Russia plan to cut oil production. Will it impact India?

Hindustan Times  

Saudi's plan to cut oil production will put burden on India: Energy body People walk by an oil refinery operated by Bharat Petroleum Corp. Ltd., in Mumbai, India. International Energy Agency executive director Fatih Birol predicted that India's oil import bill is likely to increase in the second half of the year following the decision to cut in oil production …

India's Russian oil imports now double that of Iraq
1 year, 9 months ago

India's Russian oil imports now double that of Iraq

The Hindu  

India's imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq — the nation's traditional top oil supplier. The purchases from Russia in March were double of 0.82 million barrels per day of oil bought from Iraq, which has been India's top oil …

Saudi Arabia to cut oil production by 5,00,000 barrels per day from WHEN | KNOW DETAILS
1 year, 9 months ago

Saudi Arabia to cut oil production by 5,00,000 barrels per day from WHEN | KNOW DETAILS

India TV News  

Saudi Arabia oil production : Saudi Arabia today said that it will cut oil production by 5,00,000 barrels per day from May until the end of 2023. Saudi Energy Ministry on oil production : The ministry described the move as a precautionary measure aimed at stabilising the oil market. The cuts represent less than 5 per cent of Saudi Arabia's …

India's Russian oil imports highest ever in February at 1.6 million barrels a day
1 year, 10 months ago

India's Russian oil imports highest ever in February at 1.6 million barrels a day

Hindustan Times  

India's imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and is now higher than combined imports from traditional suppliers Iraq and Saudi Arabia. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict in February 2022, Russia's share of India's …

India's Russian oil imports hit record high in February; now more than Iraq, Saudi put together
1 year, 10 months ago

India's Russian oil imports hit record high in February; now more than Iraq, Saudi put together

The Hindu  

India's imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and is now higher than combined imports from traditional suppliers Iraq and Saudi Arabia. From a market share of less than 1% in India's import basket before the start of the Russia-Ukraine conflict in February 2022, Russia's share of India's imports rose …

Oil giant Saudi Aramco has $42.4B profit in third quarter
2 years, 2 months ago

Oil giant Saudi Aramco has $42.4B profit in third quarter

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco on Tuesday reported a $42.4 billion profit in the third quarter of this year, a 39% bump buoyed by the higher global energy prices that have filled the kingdom’s coffers but helped fuel inflation worldwide. The oil firm’s profits will help fund the kingdom’s assertive Crown Prince Mohammed bin Salman’s plans …

Saudi Arabia overtakes Russia to be India's No. 2 oil supplier in August
2 years, 3 months ago

Saudi Arabia overtakes Russia to be India's No. 2 oil supplier in August

The Hindu  

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed. India, the world's third biggest oil importer and consumer, shipped in 8,63,950 barrels per day of crude from Saudi Arabia, up 4.8% from the previous …

Saudi Arabia overtakes Russia to be India's No. 2 oil supplier in August
2 years, 3 months ago

Saudi Arabia overtakes Russia to be India's No. 2 oil supplier in August

Hindustan Times  

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed. 2 oil buyer after China India, the world's third biggest oil importer and consumer, shipped in 863,950 barrels per day of crude from Saudi Arabia, …

India’s future crude oil supplies will mostly come from Gulf: Oil Minister
2 years, 4 months ago

India’s future crude oil supplies will mostly come from Gulf: Oil Minister

The Hindu  

India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri said most of his country’s crude oil supplies in the near future will come from the Gulf countries, including Saudi Arabia and Iraq, as it seeks a secure and affordable energy base. “As far as India is concerned, I see for the foreseeable future much of our crude oil supplies …

India's crude oil production falls 3.8% in July on lower output from field operated by ONGC, private sector firms
2 years, 4 months ago

India's crude oil production falls 3.8% in July on lower output from field operated by ONGC, private sector firms

Firstpost  

Production of crude oil, which is refined to produce fuels such as petrol and diesel, fell to 2.45 million tonnes in July from 2.54 million tonnes a year back New Delhi: India’s crude oil production fell 3.8 per cent in July on lower output from fields operated by state-owned ONGC and private sector firms, government data released on Tuesday showed. …

India eases Russian oil buying in July, boosts Saudi imports
2 years, 4 months ago

India eases Russian oil buying in July, boosts Saudi imports

The Hindu  

India's crude oil imports from Russia in July fell for the first time since March along with its overall purchase while supplies from Saudi Arabia rebounded for the first in five months, data obtained from trade and industry sources showed. Overall India, the world's third biggest oil importer and consumer, shipped in 3.2% less oil in July at 4.63 million …

Cash-strapped Pakistan gets USD 8 billion in financial support from Saudi Arabia
2 years, 8 months ago

Cash-strapped Pakistan gets USD 8 billion in financial support from Saudi Arabia

India TV News  

Saudi Arabia has agreed to provide Pakistan with a "sizeable package" of around USD 8 billion to help the cash-starved country bolster dwindling forex reserves and revive its ailing economy, a media report said on Sunday. Pakistan had proposed doubling the oil facility from USD 1.2 billion to USD 2.4 billion and Saudi Arabia agreed to it. Saudi Arabia provided …

India's oil import bill doubles to $119 billion in FY22
2 years, 8 months ago

India's oil import bill doubles to $119 billion in FY22

The Hindu  

India's crude oil import bill nearly doubled to $119 billion in the fiscal year that ended on March 31, as energy prices soared globally following the return of demand and war in Ukraine. According to PPAC, India imported 212.2 million tonnes of crude oil in 2021-22, up from 196.5 million tonnes in the previous year. India had spent $62.2 billion …

India's Reliance buys at least 15 million barrels of Russian oil: traders
2 years, 8 months ago

India's Reliance buys at least 15 million barrels of Russian oil: traders

The Hindu  

Reliance Industries Ltd., operator of the world's biggest oil-refining complex, has ordered at least 15 million barrels of Russian oil since Russia invaded Ukraine in February, trade sources said. But Western sanctions against Russia since its Ukraine invasion, which Moscow calls a "special operation", have prompted many oil importers to shun trade with Moscow, depressing its crude prices to record …

Saudi Arabia says it’s not responsible for high oil prices
2 years, 9 months ago

Saudi Arabia says it’s not responsible for high oil prices

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia said Monday that it “won’t bear any responsibility” for a shortage in global oil supplies after a fierce barrage of attacks by Yemen’s Houthi rebels affected production in the kingdom, the world’s largest oil exporter. The salvo of rebel attacks on Saudi Arabia’s oil facilities marked a serious escalation in the war, which …

India's oil imports from US to rise by 11% amid criticism over Russia purchase
2 years, 9 months ago

India's oil imports from US to rise by 11% amid criticism over Russia purchase

Hindustan Times  

India's oil imports from the United States will rise by 11 per cent this year, officials told Reuters as the country looks to secure supplies from around the world, including heavily sanctioned Russia. AP/PTI India is also looking to Russia; Indian Oil Corp has ordered three million barrels and Hindustan Petroleum Corp has booked two million barrels, Reuters said. Oil …

Reliance eyes first oil cargo from UAE trade arm in Dec: Report
3 years ago

Reliance eyes first oil cargo from UAE trade arm in Dec: Report

Live Mint  

India's Reliance Industries Ltd, operator of the world's biggest refining complex at Jamnagar in Western India, aims to get the first cargo of oil from its new Abu Dhabi-based trading unit in December, a source familiar with the matter said. Abu Dhabi National Oil Co, which has leased part of the strategic petroleum reserve at Mangalore in southern India, supplied …

India to release 5 millon barrels of crude oil from strategic reserves
3 years, 1 month ago

India to release 5 millon barrels of crude oil from strategic reserves

The Hindu  

India plans to release about 5 million barrels of crude oil from its emergency stockpile in tandem with the U.S., Japan and other major economies to cool international oil prices, a top government official said on November 23. This is the first time ever that India, which stores 5.33 million tonnes or about 38 million barrels of crude oil in …

Saudi Arabia to provide $4.2 billion aid to cash-strapped Pakistan; Imran Khan thanks MBS
3 years, 2 months ago

Saudi Arabia to provide $4.2 billion aid to cash-strapped Pakistan; Imran Khan thanks MBS

Firstpost  

Information minister Fawad Chaudhry took to Twitter to announce the assistance which came just two days after Imran paid a three-day visit to the Kingdom Islamabad: Saudi Arabia has agreed to provide $4.2 billion worth of assistance to cash-strapped Pakistan to support its economy, it emerged on Wednesday after Prime Minister Imran Khan held talks with Saudi Prince Mohammad bin …

Saudi Aramco closes near $2T valuation as oil prices rally
3 years, 3 months ago

Saudi Aramco closes near $2T valuation as oil prices rally

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s oil company Aramco closed on Wednesday just shy of a $2 trillion valuation the kingdom’s crown prince has long sought, buoyed by high oil prices and increased demand for energy as economies recover from last year’s pandemic lockdowns. Aramco, which produces Saudi Arabia’s oil and gas, is closely watched by energy traders and …

S Jaishankar meets Saudi counterpart: A look at how Narendra Modi improved India's relationship with the Kingdom
3 years, 3 months ago

S Jaishankar meets Saudi counterpart: A look at how Narendra Modi improved India's relationship with the Kingdom

Firstpost  

India’s ties with Saudi Arabia, one of the world’s leading oil producers and host to nearly three million Indians, have generally been on an upswing On Sunday, external affairs minister S Jaishankar held wide-ranging talks with his Saudi counterpart Prince Faisal Bin Farhan Al Saud, on a host of bilateral and regional issues including developments in Afghanistan. The visit by …

Pakistan invests $305 mn to find crude, natural gas in UAE's Persian Gulf waters
3 years, 4 months ago

Pakistan invests $305 mn to find crude, natural gas in UAE's Persian Gulf waters

Hindustan Times  

The United Arab Emirates awarded an oil concession to companies from Pakistan for the first time. A group led by state-owned Pakistan Petroleum Ltd. will invest about $305 million to find crude and natural gas in the UAE’s Persian Gulf waters, according to Abu Dhabi National Oil Co. Adnoc is expanding its fields and inviting partners to develop new deposits …

India’s June oil imports hit their lowest in nine months
3 years, 5 months ago

India’s June oil imports hit their lowest in nine months

The Hindu  

India’s crude oil imports in June fell to their lowest in nine months, as refiners curtailed purchases amid higher fuel inventories due to low consumption and renewed COVID-19 lockdowns in the previous two months. The world’s third-biggest oil importer and consumer, India shipped in about 3.9 million barrels per day of crude last month, about 7% down from May, but …

‘Want oil firms to synergise imports for better prices’ says Tarun Kapoor
3 years, 6 months ago

‘Want oil firms to synergise imports for better prices’ says Tarun Kapoor

Hindustan Times  

The Union government is holding parleys with state-run energy firms and private refiners to synergise imports of crude worth over $100 billion annually so that they can collectively bargain better prices from global oil producers at a time when auto fuel rates have soared over ₹100 per litre in several Indian cities. Benchmark Brent crude, which fell to $19.33 a …

US overtakes Saudi Arabia to become India's second largest oil supplier
3 years, 9 months ago

US overtakes Saudi Arabia to become India's second largest oil supplier

Hindustan Times  

The United States overtook Saudi Arabia as India's second biggest oil supplier last month, as refiners boosted cheaper U.S. crude purchases to record levels and to offset supply cuts from the Organization of the Petroleum Exporting Countries and its allies, data from trade sources showed. In contrast, February imports from Saudi Arabia fell by 42% from the previous month to …

Saudi Arabia cuts April crude for some Asian refiners, maintains India supply: Report
3 years, 9 months ago

Saudi Arabia cuts April crude for some Asian refiners, maintains India supply: Report

Live Mint  

Top oil exporter Saudi Arabia has cut the supply of April-loading crude to at least four north Asian buyers by up to 15%, while meeting the normal monthly requirements of Indian refiners, refinery sources told Reuters on Friday. Saudi Arabia's reduction in supplies come as the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, …

Amid Slump in Crude Due to Covid-19 Pandemic, Saudi Arabia Doubles Down on Oil to Outlast Rivals
4 years, 3 months ago

Amid Slump in Crude Due to Covid-19 Pandemic, Saudi Arabia Doubles Down on Oil to Outlast Rivals

News 18  

The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But Saudi Aramco plans to boost its production capacity so it can pump as much of the kingdom’s vast oil reserves when demand picks up …

India Saved Rs 5,000 Crore by Filling Strategic Reserves with Low-priced Oil, Says Dharmendra Pradhan
4 years, 3 months ago

India Saved Rs 5,000 Crore by Filling Strategic Reserves with Low-priced Oil, Says Dharmendra Pradhan

News 18  

India saved over Rs 5,000 crore when the country in April-May used two-decade low international oil prices to fill up its three strategic underground crude oil storages, Petroleum Minister Dharmendra Pradhan said on Monday. "Taking advantage of the low crude oil prices in the international market, India purchased 16.71 million barrels of crude in April-May, 2020 and filled all the …

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