Indian refiners

India tests US crude oil to cut dependence on Middle East

India tests US crude oil to cut dependence on Middle East

Indian refiners Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corporation Limited were given a special permission by the shipping ministry to import oil from the United States until March.

Oct 17, 2017, 11:12 AM IST

Iran retaliates to Indian oil cut plans

Iran has cut by one-third the time it gives to Indian refiners to pay for oil they buy from it and has also raised ship freight rates as a retaliatory measure to New Delhi's decision to reduce Iranian oil imports.

Apr 07, 2017, 11:48 AM IST
India to pay 1.5% interest on $6.5 billion Iran oil dues

India to pay 1.5% interest on $6.5 billion Iran oil dues

India has agreed to pay Iran an interest of 1.5 percent on USD 6.5-billion that refiners like Essar Oil and Mangalore Refinery (MRPL) owe it in oil dues, as a 'goodwill gesture'.


May 03, 2016, 16:03 PM IST

India asks refiners to cut Iran oil imports ahead of Obama visit: Sources

India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year`s levels, sources with knowledge of the matter said, days ahead of President Barack Obama`s visit to New Delhi.

Jan 22, 2015, 21:59 PM IST

Indian refiners' credit metrics to improve in 12 months: Moody's

Moody's Investors Service on Tuesday said it expects Indian refiners' credit metrics to improve over the next 12 months on decline in borrowings.

Aug 19, 2014, 20:11 PM IST

India's vegetable oil imports decline 6% in March

The country's vegetable oil imports fell by 6 percent to 8.35 lakh tonnes in March due to a continuous fall in shipments of palm oil, industry body SEA said on Tuesday.

Apr 15, 2014, 14:17 PM IST

Iran asks India for $1.5 billion in oil payments under nuclear deal: Sources

Iran has asked India for USD 1.5 billion in back oil payments under the nuclear deal that provides Tehran some relief from Western sanctions, Indian sources with direct knowledge of the matter said on Thursday.

Feb 13, 2014, 18:37 PM IST

Govt plans Rs 2k cr insurance fund for Iranian crude refiners

The fund will start after the refiners contribute money to it, Financial Services Secretary Rajiv Takru said.

Apr 04, 2013, 21:34 PM IST

India may stop importing Iran oil after insurers back out

Indian refiners may soon be forced to stop importing crude oil from Iran after insurance companies said refineries processing oil from the Persian Gulf nation will no longer be covered.

Mar 08, 2013, 17:52 PM IST

Iran struggles to find new buyers for oil: Report

Iran is struggling to find new buyers for crude oil as Western sanctions start to bite, a newspaper reported on Monday.

Feb 20, 2012, 12:16 PM IST

Saudi Arabia offers more crude supplies to India

Saudi Arabia, the world's top oil exporter, has offered additional crude supplies to India, a move that could help Indian refiners replace supplies from sanctions-hit Iran.

Feb 14, 2012, 20:19 PM IST

Iran says India to settle oil debt in a week: Report

Indian refiners will settle all oil debts to Iran by the end of this month, a business daily reported on Sunday, quoting a senior oil official as saying the sanctions-related problem that held up billions of dollars of oil income was over.

Aug 21, 2011, 16:35 PM IST

Two Indian refiners will not get Iran oil in Aug: Sources

Two Indian refiners will not get crude from Iran in August, sources at the two companies said on Thursday, as Tehran carried out a threat to stop supplies after debts in a long-running payments dispute reached more than $5 billion.

Jul 21, 2011, 18:52 PM IST