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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...

2 Oct 2017 11:37 AM

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Prime Minister Modi's fiscal may skid on high oil bill

The $125 billion import bill for the current financial year is high but it is still not the right estimate.

23 Oct 2018 5:19 AM

Ever since the government came to power in 2014, experts pointed out that the lower crude oil prices over the last few years had helped the government to significantly improve Indias macro economic indicators.

India oil demand to rise by 5.8 million barrels per day by 2040: OPEC

Global oil demand is expected to increase by 14.5 million bpd from 2017 to 111.7 million bpd in 2040.

16 Oct 2018 5:58 AM

Oil Minister Dharmendra Pradhan today said the government is keeping a close eye on international prices.

US allowing India to keep buying Iranian oil: Pradhan

The US will allow the eight nations to import Iranian oil but only at much lower levels.

3 Nov 2018 11:32 AM

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

India loaded 12 pc less Iranian oil in June than in May

Indian refiners bought around 6,64,000 barrels per day (bpd) of Iranian oil in June.

31 July 2018 2:52 AM

The government has proposed a penal tax rate of 50 per cent to incentivise black money hoarders to switch to formal economy.

India to hold top spot for economic growth but oil poses risk: reports

India's economy has started to recover after a slowdown caused by a ban on high-value currency notes in November 2016.

25 July 2018 4:20 AM

The government is working on several areas such as building infrastructure to improve logistics system in the country with a view to promote trade and industrial activities, Union Minister C R Chaudhary said on Friday.

Trade deficit widens to more than five-year high in June

India's trade balance is further bruised by a weakening Indian rupee that hit an all-time low against the dollar last...

14 July 2018 4:37 AM

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

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

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

11 July 2018 6:00 AM

Facts first. Crude oil prices rose 0.61 per cent to Rs 4,157 per barrel in futures trade on July 12 as speculators raised their exposure, tracking a rebound in global markets.

Saudi oil prices for Asia expected to jump in November after attack

Saudi Aramco officials as a matter of policy do not comment on the kingdom's monthly OSPs.

3 Oct 2019 5:24 AM

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

India's November oil import growth fastest in seven months: report

India's November oil imports rose 12.7 per cent to 19.17 million tonnes (about 4.7 million barrels per day).

25 Dec 2019 5:25 AM

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

US could offer oil at discount to compensate for Iran curbs

Crude imports from US may more than double to USD 8 billion this year.

21 Jan 2019 4:29 AM

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Oil slides on China trade slump, but crude imports remain high

Crude futures were back in the red as trading began for a fresh week in Asia.

14 Jan 2019 5:05 AM