Oil Imports

Tuesday, Apr 16, 2024 | Last Update : 10:44 PM IST

China imports more oil from Saudi than any other country in June. (AFP Photo)

China's crude imports from Saudi hit fresh high in June

Imports from Saudi Arabia rose to 8.88 million tonnes or 2.16 million bpd in June

26 Jul 2020 4:17 PM

India’s oil imports in May hit the lowest since Oct 2011. (AFP Photo)

India's oil imports in May sink to lowest in over 8 years

Indian refiners in April filled tanks with cheaper oil, sold extra cargoes to the federal government for strategic reserves

24 Jun 2020 10:29 AM

India is considering raising import taxes on edible oils as the country seeks to become self-reliant by boosting local oilseed production. (AFP Photo)

India plans to hike edible oil import taxes to boost local supply

India currently levies 37.5% and 45% import tax respectively on crude and refined palm oil

09 Jun 2020 9:00 AM

India's crude oil imports fall, product exports surge in April

Oil product imports dropped 6.5% to 3.35 million tonnes, their first year-on-year decline in 16 months

23 May 2020 9:22 AM

President Donald Trump speaks during a coronavirus task force briefing at the White House, Sunday, April 5, 2020, in Washington. (AP Photo)

Trump signals possible tariffs on oil imports amid low prices

Oil prices have dropped by about two-thirds this year as the COVID-19 pandemic has hammered demand

06 Apr 2020 10:17 AM

Asked whether Saudi Arabia will increase oil supply to India to address the shortfall due to curb on import of oil from Iran, the envoy said his country is committed to India's energy security and will meet any shortfall that may arise due to disruptions from other sources. (Photo: PTI)

We are committed to meet India's energy security needs: Saudi envoy

Yemen's Houthi terror group took responsibility for biggest-ever attacks on Saudi oil facilities which severely impacted global oil supply.

22 Sep 2019 6:01 PM

Govt plans to create an oilseed fund by imposing the 5 per cent surcharge, or cess, that will be used to help Indian farmers step up oilseed production. (Representational Image)

Govt plans extra tax on vegetable oil imports to boost domestic output: sources

India currently imposes a 40 per cent import tax on crude palm oil and 50 per cent on refined palm oils.

26 Aug 2019 11:19 AM

Oil minister Dharmendra Pradhan said transport remains the most demanding sector for oil and such a wide base of automobiles will need a combination of fuels.

No plan to completely ban petrol and diesel vehicles: Dharmendra Pradhan

NITI Aayog has reportedly proposed that after 2030, only electric vehicles should be sold in India.

17 Jul 2019 12:39 PM

Amid US sanctions, Iran on Tuesday said it believes India will act in its national interest on the issue of oil imports and Tehran can act as a 'protector' of India's energy security. (Photo: File)

Hopeful India will act in its national interest: Iran on oil imports

Mike Pompeo had said India has made 'hard choices' to cut off oil imports from Iran.

03 Jul 2019 9:20 AM

Iranian foreign minister Mohammad Javad Zarif greets external affairs minister Sushma Swaraj before their meeting in New Delhi on Tuesday. (Photo: AP)

India will decide Iran oil imports after polls: Govt

The Iranian foreign minister paid a brief visit to New Delhi on Tuesday to hold talks with Ms Swaraj.

15 May 2019 5:46 AM

At the Multi Commodity Exchange, crude for delivery in May was trading lower by Rs 70, or 1.51 per cent, at Rs 4,567 per barrel. (Representational Image)

Crude oil futures fall by Rs 70 amid weak trend overseas

The oil for delivery in June also fell by Rs 64, or 1.37 per cent, to Rs 4,592 a barrel in 695 lots.

26 Apr 2019 4:15 PM

The production in 2017-18 was 35,684 TMT while the target for 2018-19 was pegged at 37,011 TMT, a statement issued by the Ministry of Petroleum and Natural Gas said. (Photo: Representational | PTI)

India's crude oil production falls by 4.15 pc in 2018-19

Falling domestic crude oil production has pushed up India’s oil imports to nearly 84 per cent of total consumption.

26 Apr 2019 12:00 PM

For the full fiscal (2018-19), exports grew by 9 per cent to USD 331 billion and imports rose by 8.99 per cent to USD 507.44 billion.

Exports grow 11 per cent in March; trade deficit narrows

Trade deficit narrowed to USD 10.89 billion as compared to USD 13.51 billion in the same month last year.

15 Apr 2019 7:59 PM

Union minister Nitin Gadkari on Thursday said the country is facing lot of "economic crisis" due to crude oil imports and need to reduce imports and increase exports.

Country facing 'economic crisis' due to crude oil imports: Gadkari

Rising international oil prices are inflating domestic transport fuel costs in a strong demand environment.

04 Oct 2018 4:23 PM

The US may offer oil and gas to India on concessional terms from its own reserves to help the country tide over Iran sanctions that propose to suck out close to 10 per cent of Indian crude imports.

US may supply oil to India to bridge gap post-Iran sanctions

Proposal came at 2+2 meeting; transportation cost an issue.

24 Sep 2018 2:31 PM

India's crude oil import bill is likely to jump by about USD 26 billion in 2018-19 as rupee dropping to a record low has made buying of oil from overseas costlier, government officials said on Thursday.

India's oil import bill to jump by USD 26 billion on rupee woes

If the rupee is to stay around 70 per dollar for the rest of the ongoing fiscal, the oil import bill will be USD 114 billion.

16 Aug 2018 2:36 PM

India aims to cut down its oil import bill by 120 billion rupees (USD 1.74 billion) through increased use of biofuels, Prime Minister Narendra Modi said on Friday.

Govt aims to cut oil imports by Rs 120 billion by using biofuels: Modi

It plans to invest 100 billion rupees and would build 12 biofuel refineries.

10 Aug 2018 11:56 AM

The government has set up a high-level task force under the chairmanship of Cabinet Secretary P K Sinha to identify various items and policy interventions to reduce dependence on import, an official said.

Govt sets up high-level task force to find out ways to reduce import

On an average, India's imports stand at around USD 450 billion per year.

12 Jul 2018 4:36 PM

Iran is India's third-largest oil supplier behind Iraq and Saudi Arabia. (Photo: AFP | Representational)

No waivers for countries like India: US on reducing oil imports from Iran

Washington is stepping up pressure on all countries, including India and China, to completely stop buying oil from Iran by November 4.

03 Jul 2018 4:20 PM

India’s oil ministry has asked refiners to prepare for a ‘drastic reduction or zero’ imports of Iranian oil from November.

India preparing for cut in oil imports from Iran

Dharmendra Pradhan told reporters in Mumbai that the country would attend to its interests while deciding on oil imports.

29 Jun 2018 11:31 AM

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Aakar Patel

oil imports