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India's Russian oil imports hit 4-month high in November, up 3% from October

India's Russian oil imports hit 4-month high in November, up 3% from October

Thu, Dec 14, 2023

Russia became India's top oil supplier this year as the south Asian nation was drawn to Russian oil discounts after some Western companies shunned purchases from Moscow following its invasion of Ukraine in February last year.

Meteoric rise: India's imports from Russia jumped about five times during this period

Meteoric rise: India's imports from Russia jumped about five times during this period

Wed, Mar 15, 2023

The commerce ministry says that a sharp spike in imports from Russia is due to increased inbound shipments of crude oil

India's Russian oil imports surge to a record in January; Moscow top monthly oil seller to New Delhi

India's Russian oil imports surge to a record in January; Moscow top monthly oil seller to New Delhi

Sun, Feb 19, 2023

Last month Russian oil accounted for about 27% of the 5 million bpd of crude imported by India, the world's third-biggest oil importer and consumer, the data showed.

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India expanding strategic petroleum reserves, diversifying its oil import sources: S&P

India expanding strategic petroleum reserves, diversifying its oil import sources: S&P

Fri, Aug 05, 2022

In a report, S&P, citing sectoral experts, said India is keen to explore such opportunities in other Latin American countries.

India's oil imports from Russia, minuscule compared to consumption, says Petroleum Ministry

India's oil imports from Russia, minuscule compared to consumption, says Petroleum Ministry

Wed, May 04, 2022

The Ministry of Petroleum & Natural Gas on Wednesday issued a statement over a report on the purchase of crude oil from Russia.

India's December crude oil imports at one-year peak

India's December crude oil imports at one-year peak

Tue, Jan 25, 2022

India`s crude oil imports in December hit their highest level in a year as strong demand prospects in the world`s third-largest oil consumer and importer prompted refiners to stock up.

US prepared to work with nations reducing oil imports from Iran

US prepared to work with nations reducing oil imports from Iran

Tue, Jul 03, 2018

Last month President Donald Trump withdrew the United States from the landmark Iran nuclear deal, re-imposing US sanctions that had been suspended in return for curbs on Tehran's nuclear programme.

2018 Auto Expo to focus on electric vehicles

2018 Auto Expo to focus on electric vehicles

Thu, Jan 25, 2018

The 2018 Auto Expo next month will see a marked shift towards electric cars and vehicles that run on other eco-friendly technologies, reports Livemint.

Methanol to cut India's oil import bill by 30%: Nitin Gadkari

Methanol to cut India's oil import bill by 30%: Nitin Gadkari

Thu, Dec 28, 2017

The government is contemplating a `Methanol Economy Fund` to promote indigenously-produced methanol that could substitute 10 per cent of India`s crude oil imports by 2030, thereby reducing its fuel bill by around 30 per cent, Road Transport and Highways Minister Nitin Gadkari said on Thursday.

India can save Rs 20 lakh crore if it becomes 100% electric vehicle market by 2030

India can save Rs 20 lakh crore if it becomes 100% electric vehicle market by 2030

Mon, Nov 20, 2017

There is a huge potential for India once the country achieves electric target by 2030. Selling only electric vehicle by next decade would represent enormous economic opportunity.

India's trade deficit narrows to $8.98 billion in September; exports rise by 26% yoy

India's trade deficit narrows to $8.98 billion in September; exports rise by 26% yoy

Fri, Oct 13, 2017

Trade deficit is considered as an economic measure of international trade - in which a country's imports exceeds its exports.

India's trade deficit widens to $ 13841.72 million in May

India's trade deficit widens to $ 13841.72 million in May

Thu, Jun 15, 2017

Taking merchandise and services together, overall trade deficit for the first two months of FY18 was at $ 27090.91 million compared to $11117.77 million during April-May 2016.

India’s exports rise over 17%, first double digit growth in two years

India’s exports rise over 17%, first double digit growth in two years

Wed, Mar 15, 2017

Ministry of Commerce and Industry on Wednesday put out India’s foreign trade numbers wherein the country’s exports had grown in double digits for the first time since 2014, as analyst Firat Unlu from The Economist Intelligence Unit pointed out.

Iran leapfrogs Iraq to become India's second largest oil supplier

Iran leapfrogs Iraq to become India's second largest oil supplier

Mon, Mar 13, 2017

In the first 11 months of this fiscal year, between April and February, India imported about 542,400 bpd from Iran

Trade deficit in November rises to Rs 88,000 crore

Trade deficit in November rises to Rs 88,000 crore

Thu, Dec 15, 2016

Oil imports during November, 2016 were valued at $6837.76 million which was 5.89% higher than oil imports valued at $6457.37 million in November 2015.

India needs energy that is accessible to the poor, says PM Modi

India needs energy that is accessible to the poor, says PM Modi

Mon, Dec 05, 2016

India is giving priority to moving towards a natural gas-based economy and efforts must be made to raise local production of the fuel while also creating infrastructure to import it, Prime Minister Narendra Modi told an energy conference on Monday.

Exports rises up nearly 5% to $22.9 billion in September

Exports rises up nearly 5% to $22.9 billion in September

Sat, Oct 15, 2016

Signalling a clear reversal of the continuous decline in Indian exports, official data on Friday showed September exports at $22.88 billion grew 4.62% over exports recorded in the same month last year at $21.87 billion.

Oil edges up on record Indian imports, hopes of producer cut

Oil edges up on record Indian imports, hopes of producer cut

Wed, Oct 12, 2016

India`s oil imports rose 4.4% in September from the previous month to a record high 4.47 million barrels per day (bpd) as the country expanded its refining capacity to meet growing fuel demand in an expanding economy, shipping data showed.

India's crude oil imports touch 7-year high at 18.81 MT in August

India's crude oil imports touch 7-year high at 18.81 MT in August

Tue, Sep 20, 2016

India's crude oil imports touched seven-year high in August as oil companies stepped up purchases to meet galloping domestic fuel demand.

India's exports down 0.30% to $21.51 billion in August

India's exports down 0.30% to $21.51 billion in August

Thu, Sep 15, 2016

India's merchandise exports have declined for the second consecutive month, whereby falling marginally by 0.30% for the August month.

India to be hit by economic crisis if oil price crosses $60 per barrel: Swamy

India to be hit by economic crisis if oil price crosses $60 per barrel: Swamy

Mon, Aug 29, 2016

India will be hit by an economic crisis if crude oil price crosses $60 per barrel, BJP MP Subramanian Swamy said on Monday. "Given the state of our economy, if crude oil price per barrel rises above $60 then we will be hit by an economic crisis," he tweeted on Monday.

Trade deficit to widen to 1.6% of GDP in FY17, says Nomura

Trade deficit to widen to 1.6% of GDP in FY17, says Nomura

Tue, May 17, 2016

In April, exports contracted for the 17th straight month, deepening 6.7% y-o-y from 5.5% in March.

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