Page 3 - India Oil Imports

US sanctions on Russian oil shipments a worry for Indian refiners

Enhanced enforcement of sanctions by Western powers may increase procurement costs and reduce the appeal of discounted Russian crude

Oil prices rise 1% as tankers avoid Red Sea after strikes on Houthis

Brent crude futures rose $1.08, or 1.4%, to $78.51 a barrel by 1:25 p.m. ET (1825 GMT), after earlier surging over $3 to more than $80

India has no problem in making payment for Russian oil: Hardeep Puri

Puri, who is in charge of the Petroleum and Natural Gas Ministry, said India enjoys a buyers' position and foreign oil suppliers are making offers to its companies

India may see lower savings from Russian oil in 2024 as discounts dip

Russian imports accounted for 39% of India's overall crude imports last year from 16% in 2022

Almost all of Russia's oil exports this year shipped to China, India

Russia has successfully circumvented sanctions on its oil and diverted flows from Europe to China and India, which together accounted for around 90% of its crude exports

Indian refiners seek to boost Middle East supplies as attack delays cargoes

Shippers turned cautious about entering the Red Sea in recent weeks due to multiple attacks by Yemen's Iran-backed Houthi rebels

5 mn barrels of Russian oil gets stuck on tankers while en route to India

It's unclear what's holding the vessels up, but US sanctions on tankers hauling Russian crude in breach of a price cap imposed by the Group of Seven nations might be part of the cause

Indian oil product demand growth to slow ahead: International Energy Agency

Indian oil product deliveries edged higher in November but were underwhelming compared to the usual seasonal rise, the agency noted. Deliveries in November increased by 40,000 barrels per day

India's Nov Russian oil imports hit 4-month high, up 3% from Oct: Report

Last month, India overall imported about 4.5 million bpd oil, a decline of about 4.5% from October and a growth of 13% over the same month last year, the data showed

India's oil imports from Russia rebound in November on Diwali demand

India has boosted purchases of Russian oil sold at a discount after imports from Russia were shunned by some Western countries following its invasion of Ukraine last year

India's October crude oil imports rise after four months of declines

Crude imports in October rose 5.9% month-on-month to 18.53 million metric tons, rebounding from a one-year low in September

Tankers newly sanctioned by US supplied Russian oil to India: Report

NS Century is currently on its way to discharge Sokol crude at Vadinar port in Gujarat for Indian Oil Corp (IOC) on Nov. 25, LSEG and Kpler data showed

Russian oil saves India's import costs by about $2.7 bn: Govt data

Unlike China, India doesn't buy Venezuelan and Iranian oil

Russian oil price for India eased in September vs August: Govt data

India bought Russian oil at an average price of about $81.7 per barrel, compared to about $86 per barrel in August

Time to 'phase up' on oil production

As the demand for petroleum products drives on relentlessly, imports surged to 230 mt, leaving us vulnerable to vagaries of global uncertainties

India pushes back against Russia's demands to pay for oil imports in yuan

Indian Oil Corp., the biggest state refiner, had made a yuan payment for Russian crude in the past, although the government has since clamped down on that

Imports from Russia up 67% in Apr-Sep on higher shipments of oil: Govt data

India's imports from Russia rose by about 67 per cent to USD 30.42 billion during the April-September period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first half of this fiscal. The imports were USD 18.24 billion during April-September 2022. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share of India's oil imports rose to over 40 per cent. India, the world's third-largest crude importer after China and the United States, has been buying Russian oil that was available at a discount after some countries in the West shunned it as a means of punishing Moscow for the invasion of Ukraine. The ministry's data showed that imports from China dipped to USD 50.47 billion during the period against USD 52.42 billion in the same period last year. Similarly, imports from the US .

Primary energy demand in India will more than double by 2045: Opec

India's energy demand will also reach 10 percent of global demand, up from 6.6 percent currently

Govt owned refiners increase Russian oil imports despite G7 price cap

The Indian imports from Russia increased due to a lower demand from China leaving more oil to be supplied to the Indian markets, an industry expert said

Indian Oil, RIL tap Iraqi oil wells amid surging cost of Russian Urals

This reflects India's growing reliance on Russian grades while balancing them out with purchases from Iran suppliers