India oil import

Asia's monthly Iran oil imports skid to lowest in Nov since April 2016

Asia's monthly Iran oil imports skid to lowest in Nov since April 2016

China, the biggest buyer, purchased 8.8 percent less oil from Iran year-on-year, taking around 557,900 bpd.

Dec 28, 2017, 12:22 PM IST
India's November Iran oil imports skid to lowest since February 2016

India's November Iran oil imports skid to lowest since February 2016

India, the world`s number 3 crude oil consumer, received about 266,000 barrels per day (bpd) of oil from Iran last month.

Dec 14, 2017, 14:32 PM IST
India's current account deficit to touch $30 billion in 2018

India's current account deficit to touch $30 billion in 2018

India`s current account deficit is expected to increase by $10 billion to $30 billion in the 2017-18 fiscal due to higher oil and gold imports, credit rating agency ICRA said.

Mar 09, 2017, 15:06 PM IST
India fuel consumption to hit 200 million tonnes in 2016/17 - oil ministry

India fuel consumption to hit 200 million tonnes in 2016/17 - oil ministry

India`s fuel consumption is likely to hit 200 million tonnes in 2016/17, an oil ministry executive said on Monday, in what would be the highest such level in at least 16 years.

Jan 16, 2017, 14:13 PM IST

India's oil imports from Iran fall 4.1 percent in September

India`s purchases of Iranian oil fell 4.1 percent in September, slipping from August when imports from Tehran hit their highest in at least 15 years, according to ship tracking data.

Oct 12, 2016, 12:39 PM IST
Now, India can import oil from US: Know why

Now, India can import oil from US: Know why

The United States on Saturday lifted a 40-year-old ban on export of oil.

Dec 19, 2015, 15:41 PM IST
Savings on oil will help in funding social security schemes: FM

Savings on oil will help in funding social security schemes: FM

India, which imports close to 80 percent of its oil needs, spent about USD 124 billion in 2014-15 on shipping oil.

Aug 28, 2015, 22:29 PM IST

'India's oil imports dependence may hit 90% in next 2 decades'

India imports 79 percent of its oil needs, and spent USD 138.3 billion on the same.

Aug 28, 2015, 18:00 PM IST

India's oil imports from Iran jump in April: Trade

India shipped in more than 17 percent more Iranian oil in April than a year before, buoyed by prospects of a diplomatic deal on Iran`s disputed nuclear programme by end-June, preliminary data from trade sources and compiled by Thomson Reuters Oil Analytics showed.

Apr 30, 2015, 16:27 PM IST

Govt allocates Rs 4,948 cr for filling strategic oil reserves

Taking advantage of lower oil prices, the government on Tuesday allocated Rs 4,948 crore to full India's maiden strategic oil reserves to insulate itself from supply disruptions.

Mar 31, 2015, 22:27 PM IST
Make India energy sufficient, cut imports: PM

Make India energy sufficient, cut imports: PM

Modi said plans are afoot to provide piped gas connection to 1 crore households in the next four years from 27 lakh presently.

Mar 27, 2015, 15:02 PM IST

Modi says India should try to cut oil imports by 10% by 2022

Prime Minister Narendra Modi said on Friday India should try to cut oil imports by 10 percent in 2022 from 77 percent now.

Mar 27, 2015, 12:21 PM IST

India to import 8 million barrels of oil from Iraq: Source

India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR), taking advantage of cheap prices and lending some support to a market suffering from oversupply.

Mar 18, 2015, 21:23 PM IST

India slashes Iran oil imports in January trade

India slashed imports of Iranian oil in January as New Delhi scrambled to bring its purchases from the OPEC member in line with 2013 levels, according to data obtained from trade sources and ship tracking data on the Thomson Reuters terminal.

Feb 12, 2015, 19:43 PM IST

Iran-India officials discuss oil trade issues

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.

Dec 10, 2013, 18:44 PM IST

India aims to cut Iran oil imports by 15%: Oil secretary

India aims to cut Iranian crude imports by 15 percent this fiscal year, the oil secretary said on Tuesday, differing from the oil minister who recently said he wanted to hold the shipments at last year's levels.

Oct 01, 2013, 17:47 PM IST

OilMin unveils mega fuel conservation drive to cut import bill

Staggered office timings for government employees to decongest traffic and staffers taking public transport to workplace once a week are part of a mega fuel conservation drive unveiled by Oil Minister M Veerappa Moily on Tuesday to save USD 5 billion in oil imports.

Sep 24, 2013, 19:34 PM IST

India's crude oil imports up 9.5% to Rs 3.47 lakh cr in Apr-Aug

India's crude oil import bill has jumped 9.5 percent to Rs 3,47,432 crore in the first five months of the current fiscal on account of sharp depreciation of the rupee against the US dollar.

Sep 23, 2013, 17:47 PM IST

India to buy oil from wherever it gets 'best deal'

Refusing to "lay down a quota" for importing oil from any country, including Iran which is facing strict financial sanctions imposed by the UN and the US, India on Wednesday made it clear that it will buy oil from wherever it "gets the best deal".

Apr 10, 2013, 19:38 PM IST

India plans fund to give insurance to refiners using Iran oil

India plans to set up a special fund to provide insurance to refineries after European re-insurers refused to cover units that process oil imported from Iran.

Mar 24, 2013, 17:26 PM IST