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Oil Import News

₹84k-cr push for offshore oil wells gets cabinet nod

“Samudra Manthan” — a reference to the churning of the ocean in India’s ancient epics.

Updated 1 day ago

E20 fuel earns praise from PM Modi amid West Asia war. Here's how he drew a link

"A decade ago, India had a capacity of only 1% ethanol blending. Today, we are close to achieving 20%... Due to this, in the last year, we have had to import about 4.5 crore barrels less oil,” PM Modi told Parliament in a speech on Monday.

Updated 132 days ago

Why US sanctioned Indian nationals, firms: 'Dismantling key elements of...'

US Treasury Secretary Scott Bessent said the move was aimed to disrupt Iran's ability to fund terrorist groups

Updated 296 days ago

5 big takeaways from Trump-Putin talks for India, other Russian oil buyers

US President Donald Trump (C) and Russian President Vladimir Putin (L) speak after delivering a joint press conference following a US-Russia summit on Ukraine at Joint Base Elmendorf-Richardson in Anchorage, Alaska, on August 15, 2025.

Updated 351 days ago

India to maintain Russian oil imports despite Trump statements: Report

US President Donald Trump

Updated 364 days ago

After ‘massive reserves’ oil trade deal, Trump slaps 19% tariffs on Pakistan

Pakistan had previously been subject to a steep 29% US tariff.

Updated 366 days ago

Pakistan set to receive first-ever oil shipment from US: What it means

Oil is Pakistan's biggest import item, and its shipments were valued at $11.3 billion in the year ending June 30, 2025,

Updated 366 days ago

India's state refiners halt Russian oil purchases: Report

Over the past month, India, along with China and Brazil, has been at the centre of criticism from the West, mainly the US, for its purchase of Russian oil.

Updated 366 days ago

Amid Israel-Iran tensions, why is Strait of Hormuz important for crude buyers?

Around one-fifth of the world's total oil consumption passes through the Strait of Hormuz.

Updated 415 days ago

India to give $647 million to support strategic reserve oil purchases in 2025-26

Silos at an oil refinery operated by Bharat Petroleum Corp. Ltd., in Mumbai, India, on Tuesday, April 4, 2023. A surprise cut in oil production from OPEC+ is now setting the stage for other producers to vie for markets in Asia.

Published 547 days ago

Singapore's jet fuel imports surge to multi-year highs, India leads supply

Singapore's imports of jet fuel likely reached multi-year highs in December of last year, with India serving as the main supplier while the arbitrage to Europe remained closed.

Published 576 days ago

India hikes edible palm, soyabean, sunflower oil import tax to support farmers

New Delhi on Friday imposed a 20% basic customs duty on crude palm oil, crude soyoil and crude sunflower oil from Sept. 14, the notification said. (Representational image/Unsplash)

Published 687 days ago

India's Russian oil imports highest ever in Feb at 1.6 million barrels a day

Refiners continue to snap up plentiful Russian cargoes available at a discount to other grades.

Published 1246 days ago

India can buy as much Russian oil as it wants, outside price cap, says US

India is now Russia's largest oil customer other than China.

Updated 1359 days ago

Russia becomes India's second-biggest oil exporter, trade sources

Higher oil imports from Russia, curbed OPEC's share in India's overall imports to 65% in April.

Published 1511 days ago

US secondary sanctions and petroleum imports: Safeguard India’s energy security

The US has since become India’s fourth-largest supplier of oil, and India is the US’s largest export market globally for crude oil.

Published 1561 days ago

India's oil imports from US to rise by 11% amid criticism over Russia purchase

A pumpjack of Wintershall DEA extracts crude oil at an old oil field in Emlichheim, Germany, Friday, March 18, 2022. AP/PTI(AP03_19_2022_000010B)

Updated 1597 days ago

India doubles down on move to procure crude oil from Russia

Russia has so far exported 360,000 barrels of oil a day to India in March alone. (AP Photo)

Updated 1597 days ago

Chinese reliance on Middle East oil increases: Report

Considering China's dependence on foreign suppliers for oil remains in excess of 70 per cent, Chinese fears of such disruptions to the energy supply chain will only grow.

Published 1675 days ago

India, US to release 5mn barrels of oil reserves to challenge OPEC grip: Report

The release may come within a week, and India and other countries may look at selling more crude later

Updated 1713 days ago

Altering strategic investments

A country like India which imports most of its crude oil needs from other countries ends up paying more money if crude oil prices increase in the international market.

Published 1845 days ago

India may turn to Iran, Venezuela for oil imports

India has already requested OPEC and its allies, including Russia (together known as OPEC+) to immediately restore the output that was substantially cut to stabilise crude prices when the Covid-19 pandemic began raging and most of the global economies were under lockdowns, the officials said. (Representative Image)

Updated 1988 days ago

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