Articles for Oil Imports

Asia’s November crude oil imports nudge higher, still heading for annual fall: Russell
3 weeks, 5 days ago

Asia’s November crude oil imports nudge higher, still heading for annual fall: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, Nov 28 - Asia's imports of crude oil ticked up slightly in November, led by a recovery by top importer China, but arrivals are still on track to be weaker this year than in 2023. For the first 11 months of the year, Asia's crude imports were 26.52 million bpd, down 370,000 bpd from the …

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India's July edible oil imports to surge to record on robust palm buying: report
5 months ago

India's July edible oil imports to surge to record on robust palm buying: report

The Hindu  

India bought a record amount of edible oils for July delivery, as refiners increased palm oil and soy oil purchases due to lucrative prices and ahead of an anticipated hike in import duties, industry and government sources told Reuters. Edible oil imports are set to jump to a record 1.92 million metric tons, up nearly 26% from a month ago, …

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India's July edible oil imports to surge to record on robust palm buying, sources say
5 months ago

India's July edible oil imports to surge to record on robust palm buying, sources say

Hindustan Times  

By Rajendra Jadhav India's July edible oil imports to surge to record on robust palm buying, sources say MUMBAI, - India bought a record amount of edible oils for July delivery, as refiners increased palm oil and soyoil purchases due to lucrative prices and ahead of an anticipated hike in import duties, industry and government sources told Reuters. Edible oil …

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With PM’s Russia visit, Non-Alignment is back
5 months, 2 weeks ago

With PM’s Russia visit, Non-Alignment is back

Hindustan Times  

With Prime Minister Narendra Modi set to leave for Russia on Monday — the first official bilateral visit abroad in his third term — Non-Alignment has made a return, no matter what one calls it. However, if India wants to leverage its position for leadership, which it must to become a genuine pole in a multipolar world in the making, …

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’My friend...’: Russian FM lauds Jaishankar’s response on oil import
9 months, 2 weeks ago

’My friend...’: Russian FM lauds Jaishankar’s response on oil import

Live Mint  

Russian foreign minister Sergey Lavrov has praised an old remark made by India's External Affairs Minister S Jaishankar at the United Nations. Lavrov at the World Youth Forum in Russia's Sochi called Jaishankar "My friend" and heaped praises on the Indian minister for navigating bilateral ties between New Delhi and Moscow amid the Ukraine war. Russian oil import According to …

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

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India to allow edible oil imports at lower duty until March 2025
11 months, 1 week ago

India to allow edible oil imports at lower duty until March 2025

The Hindu  

India will extend the import of edible oil at a lower duty by another year until March 2025, the Government said in a notification issued late on January 15 as the world's biggest importer of vegetable oil moves to limit local prices. The lower import duty structure on crude palm oil, crude sunflower oil and crude soyoil was set to …

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'No payment problem': Hardeep Singh Puri on declining oil imports from Russia
11 months, 3 weeks ago

'No payment problem': Hardeep Singh Puri on declining oil imports from Russia

India Today  

The reduction in India's oil imports from Russia is primarily due to unattractive prices and not any payment issues, clarified Minister of Petroleum and Natural Gas Hardeep Singh Puri on Wednesday. He mentioned that, on average, India purchases 1.5 million barrels per day of Russian oil, and there have been no complaints from oil companies about facing payment settlement issues …

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Why Sensex surged over 2500 points in six straight sessions — explained
1 year ago

Why Sensex surged over 2500 points in six straight sessions — explained

Live Mint  

Stock market today: After ushering in December 2023, Indian stock market has been in continuous bull trend and key bechmark indices — Nifty 50, BSE Sensex and Bank Nifty have been continuously scaling new highs. According to stock market experts, Sensex today hit a new life-time high of 70,057 as market is expecting rate cut in upcoming US Fed meeting …

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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 …

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Is India's Reliance on Russian Oil Imports Reaching a Limit
1 year, 5 months ago

Is India's Reliance on Russian Oil Imports Reaching a Limit

News 18  

India’s imports of oil from Russia reached a new height as New Delhi’s daily volumes climbed to 2.2 million barrels a day in June. News18 takes a look at India’s oil trade with Russia and the future possibilities: Rapid Rise of Russian Oil India, the world’s third largest consumer of crude, bought nearly 2 million barrels per day of Russian …

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India refiners start yuan payments for Russian oil imports, say sources
1 year, 5 months ago

India refiners start yuan payments for Russian oil imports, say sources

The Hindu  

Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments. Indian Oil Corporation, the country’s biggest buyer of Russian crude oil, in June became the first state refiner to pay for …

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Cheap Russian oil helps India widen petro product exports
1 year, 5 months ago

Cheap Russian oil helps India widen petro product exports

Live Mint  

New Delhi: India has massively expanded export markets for its refined petro products in the last one year, commerce ministry data for April showed, thanks to discounted Russian oil that came gushing in the wake of the Ukraine war. The rise in oil exports to European countries could be attributed to the European Union’s decision to place a ban on …

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India is now Europe's largest supplier of refined fuels: Kplr
1 year, 7 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 …

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How China and India’s appetite for oil and gas kept Russia afloat
1 year, 10 months ago

How China and India’s appetite for oil and gas kept Russia afloat

Al Jazeera  

Despite Western-led sanctions aimed at punishing Russia over its war in Ukraine, growing demand for Russian energy imports has helped keep the country’s besieged economy afloat. China and India, both of which have declined to condemn Russia or impose sanctions over the war, became the biggest buyers of Russian crude oil last year as Western countries restricted imports and imposed …

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China’s trade surplus swells to $877.6B as exports grow
1 year, 11 months ago

China’s trade surplus swells to $877.6B as exports grow

Associated Press  

BEIJING — China’s trade surplus swelled to a record $877.6 billion last year as exports rose despite weakening U.S. and European demand and anti-virus controls that temporarily shut down Shanghai and other industrial centers. “China’s foreign trade and exports showed strong resilience in the face of many difficulties and challenges,” said a customs agency spokesperson, Lu Daliang, at a news …

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Worldview with Suhasini Haidar | Top 10 stories of 2022 | What should India watch out for in 2023?
2 years ago

Worldview with Suhasini Haidar | Top 10 stories of 2022 | What should India watch out for in 2023?

The Hindu  

Top 10 stories of 2022 | What should India watch out for in 2023? Pakistan’s leadership is also invited- in March 2022, Bilawal Bhutto is expected at the Foreign Minister’s meeting, and then PM Sharif a few months later are expected to visit India 3. India like the US must watch China’s growing influence in different regions, including the Gulf, …

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Russia biggest oil supplier to India second month in a row in November, surpasses Iraq, Saudi Arabia
2 years ago

Russia biggest oil supplier to India second month in a row in November, surpasses Iraq, Saudi Arabia

Firstpost  

Russia remained the top oil supplier to India, ahead of Iraq and Saudi Arabia, both in October and November New Delhi: Russia continued to be India’s largest oil supplier for the second consecutive month in November with Moscow supplying 909,400 barrels per day of crude during the month, according to energy cargo tracker Vortexa. Countries from which India imports crude …

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Russian oil price cap: Five things you need to know
2 years ago

Russian oil price cap: Five things you need to know

Al Jazeera  

Al Jazeera answers five key questions to better understand the effect of the EU and G7’s move. “The bloc has been focusing on replacing Russian oil supply routes with routes from countries in the Middle East and elsewhere, so the EU won’t face a crude oil shortage.” Philipp Lausberg, an analyst focusing on energy policy at the European Policy Centre, …

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Iran likely to nudge India on oil imports
2 years, 3 months ago

Iran likely to nudge India on oil imports

The Hindu  

Iran will nudge India towards reviving its procurement of discounted Iranian sweet crude during a meeting between Prime Minister Narendra Modi and Iranian President Ebrahim Raisi that is likely to take place this Friday on the sidelines of the Shanghai Cooperation Organisation summit in Samarkand. This will be the first time the two leaders will meet since Mr. Raisi’s election …

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Explained | What is the G7 planning on Russian oil?
2 years, 3 months ago

Explained | What is the G7 planning on Russian oil?

The Hindu  

The story so far: On September 2, Finance Ministers of all G7 countries, the U.S., Canada, the U.K., France, Germany, Italy, Japan, as well as the European Union announced their plan to “finalise and implement a comprehensive prohibition of services which enable maritime transportation of Russian-origin crude oil and petroleum products globally”, unless they are purchased at or below a …

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India’s palm oil imports fall as soyoil imports jumps record 125% high in July
2 years, 4 months ago

India’s palm oil imports fall as soyoil imports jumps record 125% high in July

Live Mint  

India's palm oil imports in July fell 10% from a month ago, as refiners ramped up purchases of rival soyoil to take advantage of New Delhi's move to allow duty-free imports of the vegetable oil to calm all-time high prices, a trade body said on Friday. Higher soyoil purchases by the world's biggest edible oil importer will support U.S. soyoil …

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Russia's share of India's June oil imports surges to record
2 years, 5 months ago

Russia's share of India's June oil imports surges to record

The Hindu  

India's oil imports from Russia surged to a record of about 9,50,000 barrels per day in June, accounting for almost a fifth of overall imports by the world's third largest oil consumer, data provided by trade sources showed. The higher oil intake from Russia raised its share of India's overall imports to 19.8% from 16.4% in May, and that of …

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India’s July palm oil imports may surge to 10-month high as prices plunge
2 years, 5 months ago

India’s July palm oil imports may surge to 10-month high as prices plunge

Live Mint  

India's palm oil imports in July are set to jump to the highest in 10 months because of a hefty correction in prices and as Indonesia allows more exports of the tropical oil, four dealers told Reuters. Higher purchases by India, the world's biggest importer of vegetable oils, may add support for Malaysian palm oil prices, which are trading near …

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