INDIA CRUDE IMPORT
Share of Russian oil in imports up at 42% in June, Iraq supplies fall Indian imports of Russian crude surged in June, outpacing other major suppliers. Refiners find the discounts on Urals grade appealing, with private sector involvement rising.
03 Jul, 2024, 12.32 AM ISTIndia's June palm oil imports rise to 6-month high on lower prices India's palm oil imports rose in June due to strong demand before festivals. Refiners played a key role, potentially impacting Malaysian palm oil futures. Sunvin Group highlighted palm oil's competitive pricing. The country's edible oil imports incr...
02 Jul, 2024, 05.06 PM ISTIndia raises windfall tax on petroleum crude The Indian government has increased the windfall tax on petroleum crude to Rs 6,000 per metric ton from Rs 3,250, effective July 2, as stated in a notification issued on Monday. This tax is reviewed every two weeks. In July 2022, India began taxing ...
01 Jul, 2024, 10.54 PM IST- ADVERTISEMENT
BPCL sees nearly flat annual crude processing, executive says Bharat Petroleum Corp (BPCL) anticipates no major changes in its annual crude processing for the current fiscal year despite a planned maintenance shutdown. BPCL will temporarily close a 120,000 bpd crude unit at its 310,000 bpd Kochi refinery for a...
27 Jun, 2024, 11.37 AM ISTIndia allows imports of corn, vegetable oils at concessional duty India has decided to permit restricted imports of corn, milk powder, crude sunflower oil, and refined rapeseed oil with concessional duty. As the largest global importer of vegetable oils, India will allow imports totaling 150,000 metric tons each o...
26 Jun, 2024, 09.41 PM ISTIndia eyes oil deals with nations including Russia, minister says Indian Oil Minister Hardeep Singh Puri announced Bharat Petroleum Corp's plan to build a new refinery. The nation aims to sign more oil import deals with countries, including Russia, at discounted rates. Prime Minister Narendra Modi seeks to provide...
11 Jun, 2024, 05.37 PM ISTRupee opens flat against US dollar in early trade The rupee is expected to swing within a range of 82.90 to 83.70, influenced by Foreign Institutional Investors, capital markets, and anticipated inflows like Reliance Infrastructure raising USD 350 million.
11 Jun, 2024, 10.09 AM ISTIndia's May fuel use inches up on month on strong industrial activity India's fuel consumption in May increased due to strong industrial activity and elections, as per data from the PPAC. The country's oil demand and consumption trends are reflected in the data provided by the PPAC.
07 Jun, 2024, 03.12 PM ISTRefined Russian petro goods imports rise 14% in May India's import of refined products from Russia increased by 14% in May, with naphtha imports tripling. State-run refiners brought in 77% more Russian products, but imports were lower than China and Europe.
04 Jun, 2024, 07.31 AM ISTReliance signs deal with Russia's Rosneft to purchase oil in roubles Reliance Industries has signed a one-year deal with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles. This agreement, following President Putin's push for alternative financial systems amid Western sanctions, secures...
28 May, 2024, 04.57 PM ISTIndia, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April, LSEG data shows Crude oil Import: In April, India and Egypt were key destinations for Russian seaborne fuel oil and vacuum gasoil exports, with a total 10% decrease in exports due to maintenance and outages. The EU's embargo redirected Russian exports to Asia. Ship...
23 May, 2024, 02.54 PM ISTIndia's Russian oil imports rise to nine-month high in April India's Russian oil imports surged to a nine-month peak in April as shipments resumed on non-sanctioned tankers, largely operated by Sovcomflot. Indian refiners imported nearly 1.8 million barrels per day of Russian oil, expanding Russia's share to ...
21 May, 2024, 01.22 PM ISTShare of Russian crude in India's imports rises to nearly 40% in April In April, Russia's share in Indian crude oil imports rose to nearly 40%, up from 30% in March, driven by higher global oil prices. Indian refiners imported 1.78 million barrels per day (mb/d) of crude oil from Russia, surpassing imports from China a...
03 May, 2024, 12.58 AM ISTIndia's oil import bill could swell to USD 101-104 bn in FY25: ICRA India's oil import bill could rise to USD 101-104 billion in FY2025. Lower Russian oil imports increased savings. Middle East conflict impacts oil routes. LNG imports from Qatar via the Strait of Hormuz. CAD/GDP ratio compressed in FY2023-24.
30 Apr, 2024, 02.05 PM ISTCrude oil’s climb towards $90 per barrel is a matter of anxiety for India, oil secretary Pankaj Jain says Rising crude oil prices are a cause for concern for the world's third-largest importer of the commodity, India's oil secretary Pankaj Jain said on Wednesday. As a consuming nation any increase in prices will cause concern and anxiety, Jain said at a...
03 Apr, 2024, 02.11 PM ISTIndia stops taking Russian oil delivered on Sovcomflot tankers Amid US sanctions, all Indian refiners, including major ones like Indian Oil, Bharat Petroleum and Hindustan Petroleum are rejecting Russian crude transported by PJSC Sovcomflot tankers. Scrutiny extends to vessel ownership to avoid ties with sancti...
22 Mar, 2024, 04.23 PM ISTIndia's Russian oil imports edged up in February from January India's import of Russian oil in February increased slightly compared to January, following a trend of fluctuating imports due to geopolitical events. Despite challenges such as payment issues and sanctions, Indian refiners received shipments of Rus...
20 Mar, 2024, 04.29 PM ISTBPCL: Bharat Petroleum signs 4-month US oil purchase deal with BP, sources say Bharat Petroleum Corp has made a significant agreement with BP to purchase 1 million barrels per month of U.S. West Texas Intermediate crude for a four-month period, according to trade sources. The deal involves the refiner commencing the receipt of...
20 Mar, 2024, 09.23 AM ISTShare of Russian crude in India's imports up at 32% in February State-run refiners accounted for 61% of total 1.41 million barrels per day (mbd) of crude India received from Russia in February, according to energy cargo tracker Vortexa. These companies' combined share expanded from 52% in January as their daily ...
06 Mar, 2024, 11.33 PM ISTIndia looks elsewhere for oil as US sanctions crimp Russia trade India's oil trade with Russia is being impacted by the tightening of US sanctions, prompting refiners to explore alternative supplies. While Russia remains the dominant supplier, Indian refiners are increasingly buying more from Saudi Arabia. Refine...
29 Feb, 2024, 02.57 PM IST