Tag: India oil imports

Middlemen offer Iranian oil to Indian refiners after U.S. waiver, sources say

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Middlemen offer Iranian oil to Indian refiners after U.S. waiver, sources say

Image used for representational purposes. File | Photo Credit: Reuters Several middlemen have offered Indian refiners discounted ⁠Iranian oil as Tehran looks to expedite sales after Washington’s temporary sanctions waiver, Indian refining sources said. On Monday (June 22, 2026), the United States waived sanctions on Iran ‌for 60 days after the first talks under a…

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India boosts Russian, UAE oil purchases in June ahead of full Hormuz recovery

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India boosts Russian, UAE oil purchases in June ahead of full Hormuz recovery

India’s crude oil imports from Russia surged in June, while shipments from the United Arab Emirates were near-record levels as refiners sought to secure supplies ahead of the full restoration of flows from Gulf producers following the reopening of the Strait of Hormuz, analysts said. India imported an average of 2.66 million barrels per day…

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India’s crude oil, LNG imports surge in May although bill continues to stay elevated

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India’s crude oil, LNG imports surge in May although bill continues to stay elevated

Representational file image. | Photo Credit: Reuters In the third full month (May) of the West Asia crisis this year, India’s imports of crude oil surged nearly 7.5% from April, whilst that of liquified natural gas (LNG) increased about 16%. However, the country’s import bill for crude oil surged 14.7% and that of LNG more…

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Shifting away from Russian oil imports currently won’t hurt India fiscally

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Shifting away from Russian oil imports currently won’t hurt India fiscally

Due to low global prices and reduced discounts India reducing its oil imports from Russia may have limited impact in its fiscal. | Photo Credit: Reuters The prevailing low global oil prices mean that, if India chooses to shift away from importing Russian oil and switches to more oil from the U.S., the financial impact…

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India’s shift away from Russian oil imports predates Trump tariffs

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India’s shift away from Russian oil imports predates Trump tariffs

The reduction of Russian oil is not just in absolute terms, but also in terms of its share in India’s total oil imports. File. | Photo Credit: Reuters India is implementing a larger strategy to reduce its dependence on oil imports from Russia, with the higher tariffs imposed by the U.S. coming at a time when…

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