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INDIA OIL IMPORTS CRISIS
India's June crude imports hit record high as Russian supplies surge despite West Asia tensionsIndia's crude oil imports hit a record 4.93 million barrels per day in June, bolstered by substantial purchases from Russia, which solidifi...- No single road to clean mobilityIndia stands at a pivotal moment in its mobility sector, where reducing oil dependency is critical due to global energy challenges. Ethanol...
- PM Modi appeal impact: Gold import growth down substantially in MayGold imports saw a significant slowdown in May, a welcome development following Prime Minister Modi's calls to curb consumption. This decel...
- Indian economy remains exposed to energy price shocks: RBI reportIndia's economy faces potential exchange rate volatility due to rising oil prices and supply chain issues, an RBI report revealed. Despite ...
- Govt extends customs duty waiver on import of key petrochemical products till July 15The government has extended the nil customs duty on approximately 40 critical petrochemical products by another 15 days, now until July 15....
- India plans to cut reliance on Middle East oil, tap spot market after war shockIndia's state refiners are pivoting away from Middle Eastern oil contracts following the Iran war's supply disruptions. They plan to boost ...
- India plans to add strategic fuel reserves after Iran war shockIndia is bolstering its energy security by planning strategic reserves of crude oil, LPG, and LNG to cover up to a month's demand, aiming t...
- India's Russian oil imports to hit record high in June, data showsIndia's Russian oil imports hit an all-time high in June, reaching approximately 2.70 million barrels per day. This surge is attributed to ...
- Sri Lanka reduces fuel prices after Middle East ceasefireSri Lanka on Tuesday cut fuel prices by up to six percent, the first such move since the Middle East war triggered a surge in energy prices...
- Why India stayed resilient through the Hormuz crisisIndia successfully navigated the Strait of Hormuz closure, ensuring energy security for its citizens. Despite a significant drop in West As...
- Easing of West Asia conflict reduces downside risk to 6.6% growth forecast: Ram Singh, Director, Delhi School of EconomicsAny moderation in El Nino effects and resolution of geopolitical uncertainty will further reduce the downside risks to growth. Operationali...
- From floods to war, state-run oil firms prove indispensable despite repeated privatisation bidsIndia's state-run oil companies have proven indispensable during national crises, from floods and pandemics to global conflicts. Despite pa...
- Petroleum vulnerability rising, India must build crude buffers and cut import dependence, EY cautionsIndia faces mounting vulnerability due to its soaring dependence on imported crude oil, now exceeding 90%. A recent EY report urges augment...
- Indian refiners unlikely to rush for Iranian oil despite temporary US sanctions waiver, says analystIndian refiners are unlikely to sharply raise purchases of Iranian crude despite a 60-day US sanctions waiver, as uncertainty over its dura...
- Middlemen offer Iranian oil to Indian refiners after US waiver, traders sayMiddlemen and Iran's state oil company are offering discounted Iranian crude to Indian refiners after the US granted a 60-day sanctions wai...
- Hormuz oil shock echoes 1973 embargo lessonsThe recent Strait of Hormuz closure, though brief, signals a potential turning point for global energy. Echoing the 1973 oil embargo, this ...
- Government restores non-domestic LPG supplies to pre-crisis levelsIndia has restored non-domestic packed LPG supplies to their pre-crisis levels. This welcome development follows a significant improvement ...
- Oil falls to pre-war levels, no change in petrol and diesel prices in IndiaGlobal crude oil prices have fallen to their lowest levels since before the Iran conflict, with Brent slipping to around USD 72–73 per barr...
- Rupee rebounds, but risks aboundThe rupee has experienced a brief rebound fueled by optimism surrounding the potential reopening of the Hormuz Strait and a decrease in oil...
- Indian refiners increase Russian and UAE oil imports ahead of Hormuz recoveryIndia's crude oil imports hit a milestone in June, as Russia emerged as the primary supplier, followed closely by the UAE's near-record imp...
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