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Indian economy is and will become even more exposed to risks of supply disruptions, geopolitical uncertainties and the volatility of oil prices.

India's oil demand growth set to overtake China by mid-2020s: IEA

India's oil demand is expected to reach 6 million barrels per day (bpd) by 2024 from 4.4 million bpd in 2017.

10 Jan 2020 11:38 AM IST

India in May suspended 39 oil import licences to slow duty-free shipments from neighbouring nations, disrupting refiners in Nepal. (AFP Photo)

Nepal's refiners struggle as India stops refined palm oil imports

Palm oil stockpiles in Nepal have swelled to 70,000 tonnes, overwhelming local demand needs, said Sarda

22 July 2020 11:42 AM IST

Indian Oil Corp (IOC) bagged three fields, the same number as new entrant PFH Oil and Gas Pvt Ltd got.

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 IST

Reliance Industries limited

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 IST

Hindustan Petroleum Corp Ltd (HPCL) on Friday reported 56 per cent drop in the June quarter net profit on account of lower refining margins and inventory losses.

HPCL to buy Iranian oil in Jan after six-month gap: sources

HPCL would continue to buy Iranian oil on a regular basis during the waiver period.

7 Dec 2018 11:16 AM IST

Reliance Industries plans to shut oil and gas production at its main fields in KG-D6 block in the coming months.

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 IST

US oil shipments to China have surged, creating trade between the worlds two biggest powers that until 2016 just did not exist.

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

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

23 March 2018 11:38 AM IST

The finance ministry said that the bill is far more depositor-friendly than in many other countries which provide for statutory bail-in without consent of creditors and depositors.

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 IST

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...

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

28 Jun 2018 5:06 PM IST

India pays its third largest oil supplier in euros using European banking channels and imports.

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

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

23 Jun 2018 11:43 AM IST

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.

2 Jun 2018 11:18 AM IST

A fuel glut in China, a hangover from demonetisation in India, and an ageing, declining population in Japan are holding back crude oil demand growth in three of the worlds top four oil buyers.

Iraq replaces Saudi as top oil supplier to India in August: report

Overall India's monthly oil imports in August rose 3.1 per cent to about 4.7 million barrels.

11 Sept 2018 9:19 AM IST