India’s Chennai Petroleum will stop processing Iranian crude oil from October to keep its insurance coverage once new sanctions by the United States against Iran go into effect, three sources Continue Reading
A report from Reuters suggests that India has plans to trim imports from Iran significantly in September and October, a move intended to satisfy the hawkish American government ahead of Continue Reading
Indian refiners are reducing their intake of Iranian crude oil in preparation for the return of U.S. sanctions on Tehran. The reduction is being seen as an attempt to score Continue Reading
India will be looking at the economics—and not the politics—of importing U.S. crude oil, and Indian imports of American oil should not be seen as a replacement for Iranian barrels, Continue Reading
Turkmenistan completed an upgrade of its largest electric power plant on Saturday, which it hopes will help boost exports and eventually allow supplies to Pakistan, which would require the construction Continue Reading
India imported about 523,000 barrels per day (bpd) of oil from Iran in August, down 32 percent on a month earlier, preliminary tanker arrival data showed, as the United States Continue Reading
One of the standout commodity performers this year has been thermal coal, but not all coal is created equal and disparities in pricing may help explain why India’s imports have Continue Reading
India has given permission to state-owned refiners to import oil from Iran with Iranian tankers and insurance, after the biggest Indian shipping company backed out of Iran voyages due to Continue Reading
The Karachi Port Trust (KPT) on Friday hit back at the Petroleum Division and the oil industry, saying they were not giving the full picture and hiding their own shortcomings Continue Reading
India’s currency, the rupee, hit a new record low against the U.S. dollar on Thursday on the back of rising oil prices, end-month demand for dollars, and concerns about the Continue Reading
India will “definitely” not cut off entirely its crude oil imports from Iran, but it expects to have more clarity on its oil purchasing strategy amid the U.S. sanctions on Continue Reading
India passes China by the middle of the next decade as the country with the biggest appetite for oil and its refineries can’t keep up, Wood Mackenzie found. Economists at Continue Reading
Despite high prices in international markets, imports continue to rise — and there’s no letting up on that front. After a dip in FY 2017, overall coal imports increased 10 Continue Reading
India’s coal imports appear headed for another strong month in August, raising the question as to why the usually cost-sensitive market hasn’t scaled back purchases given a surge in prices Continue Reading
A new report by Power Technology shows that India is taking the race very seriously, with five of the nine largest solar installations in the world. China and the U.S. Continue Reading
A cheaper rupee could increase India’s crude oil bill by as much as US$26 billion in FY 2018/19, according to Indian government officials. The currency hit a low of 70.32 Continue Reading
State-run refiner Indian Oil Corporation’s gross refining margin spiked 136% year on year to $10.21/b over April-June on inventory gains, the company said Saturday. Receive daily email alerts, subscriber notes Continue Reading
Indian Oil Corp, the biggest refiner in India, has purchased a total of 6 million barrels of U.S. crude oil for delivery between November and January, as it has started Continue Reading
Source: U.S. Energy Information Administration, International Energy Outlook 2018 (IEO2018) India’s economic development is likely to have a considerable impact on future international energy markets—including U.S. energy exports—because of the Continue Reading
ExxonMobil is close to discovering huge oil reserves in Pakistan near the border with Iran, and those reserves could even be larger than the oil reserves of Kuwait, the Pakistani Continue Reading
U.S. crude oil producers appear to have found an alternative buyer for cargoes no longer heading to China, with India on track to import record volumes in August. India has Continue Reading
Highlights US crude shipments to India surge in May, June Insurance concerns give refiners sleepless nights Eyes on incremental heavy barrels from Latin America Singapore — A question mark on Continue Reading
Ahead of the return of the U.S. sanctions on Iran, India’s state refiners boosted their Iranian oil purchases, pushing up Indian oil imports from Iran by 30 percent from June, Continue Reading
Indian state-owned upstream company Oil & Natural Gas Corp. said Thursday that its crude production during the April-June quarter registered a 3.5% year on year fall to 6.2 million mt Continue Reading
India’s cabinet approved on Wednesday a policy to allow companies to explore and exploit unconventional oil and gas resources such as shale oil and gas and coalbed methane under the Continue Reading
Highlights CIL’s July output rises to 40.56 million mt Subsidiaries SECL, MCL major contiributors Monthly offtake rises 9% on year New Delhi — State-owned Coal India Limited increased its production Continue Reading
As U.S. sanctions on Iran are about to kick in later this year, Indian oil refiners reduced their orders for Iranian crude oil in June by 12 percent compared to Continue Reading
Hindustan Petroleum has cancelled a crude oil shipment from Iran after its insurer refused to provide coverage for the cargo on concern about U.S. sanctions, Reuters reports , citing three Continue Reading
Last week, Chinese President Xi Jinping reportedly offered Sri Lanka a new grant of 2 billion yuan ($295 million). According to media reports, Sri Lankan President Maithripala Sirisena made the Continue Reading
Iran has overtaken Saudi Arabia as India’s number two oil supplier in the April-June quarter, India’s oil minister said on Monday. Iraq remains India’s number-one supplier of crude. While Iran Continue Reading
Sri Lanka will pay down its oil debt held by Iran with tea in response to new regulations that Sri Lanka has issued in order to comply with a UN Continue Reading
Germany’s minister of state for foreign affairs has encouraged India to continue buying Iranian oil, despite pressure from the United States, which Niels Annen called “irritating, to put it mildly.” Continue Reading
India’s 12 key state-run ports handled 28.29 million mt of thermal coal imports during April-June, up 19% year on year, latest data from Indian Ports Association released Saturday showed. Coking Continue Reading
Highlights Refiners still uncertain of which strategy to adopt Both oil ministries confident either will be flexible Indian imports of Iranian oil remain above 2017 levels London — Receive daily Continue Reading
Iran will take care to supply India with all the oil it needs, the country’s embassy in India said , a day after deputy ambassador threatened India that Iran could Continue Reading
India’s oil products demand rose almost 9% in June on the year to 17.99 million mt, or 4.7 million b/d, the latest provisional data from the Petroleum Planning and Analysis Continue Reading
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year’s total as the Asian nation’s refiners move to replace Continue Reading
Iranian crude oil imports into India fell by 15.9 percent in June from May, or to 592,800 bpd from more than 705,000 bpd in the previous month, Reuters reports , Continue Reading
Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set Continue Reading
When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern Continue Reading
In more dour news for Iran, India (the world’s fourth largest oil importer) is planning to cut oil imports from the embattled OPEC member. India’s oil ministry has asked refiners Continue Reading
Indian refiners are preparing for any scenario in case they won’t be able to import any Iranian crude oil as the United States steps up pressure on countries to bring Continue Reading
India’s oil ministry has asked refiners to prepare for a ‘drastic reduction or zero’ imports of Iranian oil from November, two industry sources said, the first sign that New Delhi Continue Reading
India’s oil ministry has told local refiners to get ready for a “drastic reduction or zero” oil imports from Iran, industry sources told Reuters on Thursday, a sign that India—Tehran’s Continue Reading
U.S. Ambassador to the United Nations Nikki Haley told India’s Prime Minister Narendra Modi on Wednesday it was important India cut Iranian oil use, but said the United States would Continue Reading
Saudi Arabian state-owned oil company Saudi Aramco wants to be present in the entire “value chain” of India’s energy sector, its Chief Executive Officer Amin Nasser said on Monday in Continue Reading
India is suffering from the worst water crisis in its history and around 600 million people face a severe water shortage, according to a government think tank. Approximately 200,000 people Continue Reading
When the Indian resort town of Shimla ran severely low on water last month, “key men” like Inder Singh — who open and close the valves that supply water to Continue Reading
India’s largest bank, State Bank of India, has told local refiners that it will no longer handle payments for oil imports from Iran beginning in November, the head of finance Continue Reading
Saying that current oil prices were not supported by market fundamentals, Indian oil minister Dharmendra Pradhan on Thursday called for “responsible pricing, one that balances the interests of both the Continue Reading
