Oil Import | The Asian Age

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India's Iranian oil imports in June fall 15.9 per cent in June: sources

In June, India imported 592,800 barrels per day (bpd) of oil from Iran compared to 705,200 bpd in May.

11 Jul 2018 11:30 AM

The oil ministry held a meeting with refiners on Thursday, urging them to scout for alternatives to Iranian oil, the sources said. (Representational Image/AFP)

In response to US push, India preparing for cut in oil imports from Iran: report

Sources said India, the 2nd biggest buyer of Iranian oil, will be forced to take action to protect its exposure to US financial system.

28 Jun 2018 5:06 PM

India looks to revive rupee payment system for Iran oil imports: sources

India is looking to revive a rupee trade mechanism to settle part of its oil payments to Iran.

23 Jun 2018 11:43 AM

GST does not solve the fundamental problem that we are importing oil and global prices keep fluctuating.

GST won’t stop oil price fluctuations: Economic advisor

GST will not prevent price fluctuations as India is a massive importer of crude.

11 Jun 2018 9:11 AM

The move by BPCL indicates that refiners will try to frontload their purchases from Iran ahead of a November US deadline.

BPCL seeks extra Iran oil amid sanctions threat

So far India’s oil imports and payment mechanism have not been hit by the threat of US sanctions.

02 Jun 2018 11:18 AM

Global insurers have already warned about doing business with Iran while some shipping lines have said they would not take new bookings for Iran.

Reliance to halt oil imports from Iran: sources

In 2017, Reliance’s oil imports from Iran surged by about 45 per cent to 67,000 bpd, according to ship tracking data.

31 May 2018 10:51 AM

The company meets about 70 per cent of its oil needs through annual contracts deals, mainly with Middle Eastern producers.

Indian Oil to turn to traditional suppliers to meet Iran oil shortfall

IOC plans to buy 140,000 bpd of Iranian oil in 2018-19 and has an option to buy an additional 40,000 bpd.

23 May 2018 10:20 AM

Asia-Pacific consumes more than 35 per cent of the 100 million barrels of oil the world uses each day.

Asia oil thirst tab USD 1 trillion a year as crude rises to USD 80

Oil prices have gained 20 per cent since January to just shy of $80 per barrel, a level not seen since 2014.

17 May 2018 11:48 AM

Rise in oil prices defied global stock markets, which slumped on back of worries about a trade stand-off between US and China.

Oil rises more than 1 pc as Saudi says production curbs could last into 2019

US President Donald Trump signed a memorandum that could impose tariffs on up to $60 billion of imports from China.

23 Mar 2018 11:38 AM

India on Monday received its first ever shipment of US crude oil with state-owned Indian Oil Corporation (IOC). Photo: Twitter| @IndianOilcl

First US oil shipment to India arrives at Paradip

MT New Prosperity, with a capacity to haul two million barrels of crude, left the US on August 19 and arrived at Paradip on Monday.

02 Oct 2017 5:07 PM

Oil import was valued at USD 7.84 billion in July, an increase of 15 per cent over the same month in 2016. (Representational Image)

Export up 3.94 per cent in July; trade deficit widens to USD 11.44 bn

Cumulative export during April-July of 2017-18 rose by 8.91 per cent to USD 94.75 billion.

14 Aug 2017 6:25 PM

In the first five months of 2017, India's oil imports from Iran still jumped about 64 per cent, the data showed.

India's oil imports from Iran plunge over gas field row

India plans to order about a quarter less Iranian crude due to a snub over development of Iran's Farzad B gas field.

15 Jun 2017 4:48 PM

Oil imports rise by 165 per cent and account for 56 per cent of the increase in imports.

India's oil consumption to race past world's

Oil consumption will rise beom 4.1 million barrels per day in 2015 to 9.2 million bpd in 2035.

26 Jan 2017 2:22 PM

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Syed Ata Hasnain