oil imports

New Delhi, March 6 India could face pressure on the rupee, higher inflation, and a widening current account deficit if the escalating Middle East conflict drives up energy prices and disrupts supplies, given its heavy dependence on crude and LNG imports from the region, according to Moody's...

Washington, March 6 – In a significant development, in the wake of the ongoing Iranian war, the Trump administration has authorized a one-month window for India to import Russian crude oil."President Trump's energy agenda has resulted in oil and gas production reaching the highest levels ever...

New Delhi, March 5 India is seeking assistance from the United States to secure maritime insurance for vessels transporting oil from the Middle East, as it looks for continuity in energy supplies beyond its current reserves.The country has stocks in tanks, pipelines, and ships in transit to...

New Delhi, March 5: Rising geopolitical tensions linked to the Iran conflict could significantly increase India's oil import bill and put pressure on the rupee, said former NITI Aayog CEO Amitabh Kant on Thursday.In a post on X, Amitabh Kant, who currently serves as a senior advisor to global...

Islamabad, March 5 Pakistan is considering various measures, including weekly revisions to petroleum prices, compensating oil companies, and mandatory work-from-home arrangements, to "maintain market liquidity" amid disruptions in trade following the closure of the Strait of Hormuz, a media...

New Delhi, March 5 Russia has always been open to supplying crude oil to India, Russian Ambassador Denis Alipov said on Thursday, amid growing concerns over soaring prices of petroleum products in the context of the West Asia crisis.Global oil and gas prices have surged after Iran has...

New Delhi, March 5 – Leader of the Opposition in the Lok Sabha, Rahul Gandhi, expressed concern over the escalating tensions in West Asia and their potential impact on India on Thursday, stating that the country’s energy security is at risk and calling for decisive leadership in the face of...

Islamabad, March 4 Pakistan said on Wednesday that Saudi Arabia has responded positively to its request for an alternative oil supply route in the wake of the closure of the Strait of Hormuz due to the attack on Iran.Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with Saudi...

Moscow, March 4 The ongoing war in West Asia may increase India's demand for Russian crude oil, potentially reaching levels of 1.5 million barrels per day, peaking in 2024-2025, according to a leading expert on global oil trade.On Tuesday, Deputy Prime Minister Alexander Novak told state TV...

Moscow, March 3 Russia claimed on Tuesday that India has signaled "renewed interest" in importing larger volumes of Russian crude oil amid disruptions in energy supplies following the closure of the Strait of Hormuz after US and Israeli strikes on Iran.The Strait of Hormuz is the world's most...

New Delhi, March 3: India is in a reasonably comfortable position regarding crude oil, LPG, and LNG, with a reserve of 25 days for crude and 25 days for products, including those in transit on ships heading to the country's ports, according to government sources.India imports over 85% of its...

New Delhi, March 2 International oil prices rose by about 9% following attacks by the US and Israel on Iran, and retaliatory strikes by Tehran, but retail petrol and diesel prices in India are unlikely to increase in the near term, sources said.Brent crude, the global benchmark, climbed close...

Bengaluru, March 2 – Former Karnataka Chief Minister and BJP MP Basavaraj Bommai appealed to global leaders to immediately intervene and stop the ongoing war between Israel and Iran before it leads to further catastrophe, as China and Russia are closely observing the situation.Speaking to the...

Patna, February 19 Senior Congress leader Deepender Singh Hooda criticised the Narendra Modi government over the trade deal with the US on Thursday, alleging that it would make the country "dependent on America instead of being self-reliant".The Haryana MP made the remarks at a press...

Mumbai, February 19 – All India Congress Committee general secretary Sachin Pilot claimed on Thursday that the trade agreement with America was made under pressure and is "harming" Indian farmers, stating that the 144 crore people of India will never accept it.He further stated that trade...

Mumbai, February 19 Congress leader Sachin Pilot criticized Union Minister Kiren Rijiju on Thursday for making a "disrespectful and inappropriate" remark against Rahul Gandhi, and demanded that he apologize.He was responding to a query regarding Rijiju's reported statement in which he...