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India's crude oil imports surge on fuel demand ahead of polls

Last Updated: Monday, March 31, 2014, 20:00

Refiners see demand for fuel, especially diesel, rising as electioneering picks up for the April-May Lok Sabha polls.

US asks India not to increase Iran oil imports till mid-2014

Last Updated: Tuesday, March 11, 2014, 21:43

The US has asked India not to increase crude oil imports from Iran until the middle of 2014 as it tests Tehran's resolve to cooperate with world powers on its controversial nuclear programme.

India takes nearly 40% less Iranian oil in 2013

Last Updated: Thursday, January 30, 2014, 15:40

India imported nearly 40 percent less Iranian crude last year, with no sign in the last month of 2013 that the easing of Western sanctions in a landmark deal resulted in Indian refiners bumping up their purchases.

Iran-India officials discuss oil trade issues

Last Updated: Tuesday, December 10, 2013, 18:44

Weeks after a historic accord eased restrictions on Iran, a high level Iranian delegation Tuesday discussed with Finance Ministry officials the payment mechanism and shipping arrangements for increased oil trade.

Iran, India meeting to discuss oil payments on Tuesday

Last Updated: Tuesday, December 10, 2013, 17:42

Indian and Iranian officials are meeting on Tuesday to discuss how to unlock the first oil payments to the Middle Eastern nation since the US and other world powers eased sanctions last month in exchange for curbs to Tehran`s nuclear programme.

Iran keen to sell more oil to India, seeks payment resolution

Last Updated: Wednesday, December 04, 2013, 21:37

Keen to sell more crude oil to India, Iran's Industry Minister Mohammad Reza Nematzadeh Wednesday sought resolution of payment issues to promote trade between the two nations.

India should import more Iran oil: Oil Ministry

Last Updated: Monday, September 23, 2013, 18:53

Oil accounts for about a third of India's total imports and higher dollar prices combined with a rupee near all-time lows have increased its cost, adding pressure to a bloated current account deficit.

India seeks to pay Iran oil bill fully in rupees

Last Updated: Thursday, September 12, 2013, 18:50

Keen to reduce a record current- account deficit by raising oil imports from Iran, India is seeking to restart the mechanism of paying the Persian Gulf nation entirely in rupees.

India to explore all options to enhance oil import from Iran

Last Updated: Wednesday, September 11, 2013, 20:51

Government on Wednesday said it will explore all options to increase import of crude oil from Iran within the framework of UN sanctions.

PMO calls meeting to discuss raising oil imports from Iran

Last Updated: Monday, September 09, 2013, 18:17

With the rising oil import bill casting a shadow on attempts to rein in a record current account deficit, the Prime Minister's Office has called a meeting to discuss raising crude imports from Iran to curtail dollar payouts.

Iran agrees to take all oil payments from India in rupees

Last Updated: Sunday, July 14, 2013, 18:05

Iran has agreed to take payments for oil it sells to India entirely in rupees after US and western sanctions blocked all other payment routes.

India cuts oil import from Iran by 26.5% in FY'13

Last Updated: Wednesday, April 24, 2013, 18:00

India has slashed import of crude oil from Iran by over 26.5 percent in the financial year ended March 31 as US and European sanctions made it difficult to ship oil from the Persian Gulf nation.