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India's oil imports News

13 Jul 2018

Iran ready to supply oil to India on 'flexible measures'

While India maintains national interests are primary, market analysts and strategic experts believe US sanctions on Iran could determine how countries deal with importing oil from the West Asian country.

28 Jun 2018

Under pressure from US, India may cut oil imports from Iran: Sources

US has put back sanctions on Iran after pulling out of a nuclear deal with the country. During previous sanctions, India had continued to import Iranian oil. Sources tell Reuters that current situation is different and there could be a 'drastic reduction or zero' imports.

12 May 2018

In a first, UAE to store 6 million barrels of oil in India

Oil Minister Dharmendra Pradhan in UAE said that the two countries have signed a seven-year agreement for strategic storage.

Indian Oil Corp

10 Aug 2017

IOC to make first ever crude oil purchase from US this year

The official said IOC had last month sealed a deal to import 1.6 million barrels of crude from the US for delivery in the first week of October at its Paradip refinery in Odisha -- the first ever such purchase of US crude by an Indian state-run refiner.

India's oil imports

15 Feb 2017

Iran becomes 3rd largest oil supplier for India

Iran has zipped past the likes of Venezuela and Nigeria to become India's third largest oil supplier as easing western sanctions enabled Indian companies to increase purchases from that country.

India's Exports

15 Feb 2017

India's exports rise for 5th month in January; gold imports drop 30%

India's exports continued to grow for the fifth straight month, expanding by 4.32 percent to USD 22.11 billion in January against USD 21.19 billion in the same month of 2016.

India's oil imports

13 Jan 2017

India's 2016 Iran oil imports hit record high

India`s annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran.

India's oil imports

21 Mar 2016

India's February oil imports up 29.9% year on year

India`s oil imports in February increased by 29.93 percent year on year to 4.27 million barrels per day (bpd), or 16.88 million tonnes, government data showed

14 Aug 2015

Exports continue to slide for 8th month; dip 10.3% in July

Hit by global slowdown, India's exports contracted for the eighth straight month by 10.3 percent in July to USD 23.13 billion, pushing the trade deficit to USD 12.81 billion.

03 Jun 2015

IOC to import Iraqi oil for India's maiden strategic reserve

The first of the storages at Visakhapatnam (Vizag) is ready and IOC and Hindustan Petroleum Corp Ltd (HPCL) have been tasked to import Basra Light crude oil of Iraq to fill it, official sources said.

22 Jul 2014

India cuts down dependence on Iran oil

India has cut its reliance on Iran for meeting its oil needs to less than 6 percent as it raised imports from countries like Columbia and Mexico.

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