Oil Import

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Oil Import - Total results - 30
India on track to cut oil import dependence by 10% by 2022: Petroleum Minister Dharmendra Pradhan
Business

India on track to cut oil import dependence by 10% by 2022: Petroleum Minister Dharmendra Pradhan

The government is on track to meet the target of cutting India's oil import dependence by 10 percent by 2020, Petroleum Minister Dharmendra Pradhan said on Wednesday

India pitches for stake in Far East oilfields, higher imports of oil from Russia
Business

India pitches for stake in Far East oilfields, higher imports of oil from Russia

India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket

Iran takes steps to downgrade nuclear commitments in retaliation to US-imposed sanctions on Tehran
World

Iran takes steps to downgrade nuclear commitments in retaliation to US-imposed sanctions on Tehran

Iran said it had taken a step to further downgrade its commitments to a 2015 nuclear deal with the world’s most powerful nations, according to Iranian media, in retaliation to US sanctions reimposed on Tehran

Iran-US tensions: 'Highly gratified' by cooperation from 'great friend' India on Iranian sanctions, says White House
World

Iran-US tensions: 'Highly gratified' by cooperation from 'great friend' India on Iranian sanctions, says White House

The US is "highly gratified" by the cooperation from a "great friend" like India in enforcing the oil sanctions on Tehran, the White House said on Wednesday as the Trump administration slapped sanctions on Iranian Foreign Minister Javad Zarif

Solvent extractors association asks to hike import duty on Malaysian refined palm oil to safeguard domestic farmers
Business

Solvent extractors association asks to hike import duty on Malaysian refined palm oil to safeguard domestic farmers

Expressing concern over Malaysian palm oil flooding Indian markets, edible oil trade body SEA on Friday asked Prime Minister Narendra Modi to hike import duty on palm oil being purchased from the South-east Asian country, to safeguard domestic oilseed farmers

US hails India's efforts to restrict oil imports from Venezuela, calls it 'considerable cooperation' in its bid to weaken Maduro govt
World

US hails India's efforts to restrict oil imports from Venezuela, calls it 'considerable cooperation' in its bid to weaken Maduro govt

The United States on Sunday appreciated India's efforts adding to Washington’s sanctions to restrict exports of Venezuelan oil in the global energy market. “I would say that we have had contacts with Indian companies and with the Government of India and that we have found there to be a very considerable amount of cooperation, which we are very happy to see,” Sputnik quoted US Special Representative for Venezuela Elliott Abrams as saying.

Exports up 3.74% to $26.4 bn in January on higher growth in gems and jewellery, pharma; trade deficit narrows
Business

Exports up 3.74% to $26.4 bn in January on higher growth in gems and jewellery, pharma; trade deficit narrows

The country's exports grew 3.74 percent to $26.36 billion in January on account of growth in sectors such as gems & jewellery, pharmaceuticals and chemicals, according to data from the commerce ministry

India inks pact with Iran to pay crude bill in rupee; 50% funds to be used to export items to Tehran
Business

India inks pact with Iran to pay crude bill in rupee; 50% funds to be used to export items to Tehran

The memorandum of understanding (MoU) was signed following the US letting India and seven other nations to keep buying Iranian oil despite sanctions were reimposed on the Islamic state on 5 November.

'Not looking to be a great hero': Donald Trump on exemptions on Iranian oil granted to India, either others
World

'Not looking to be a great hero': Donald Trump on exemptions on Iranian oil granted to India, either others

The Trump administration was caught between allies at home and abroad and the reality of global economics on Monday as it reinstated sanctions on Iran.

India, China among 8 countries temporarily allowed to buy Iranian oil: US secretary of State Mike Pompeo
Business

India, China among 8 countries temporarily allowed to buy Iranian oil: US secretary of State Mike Pompeo

The US on Monday imposed "the toughest ever" sanctions on a defiant Iran aimed at altering the Iranian regime's "behaviour".

Narendra Modi reviews oil and gas production profile of ONGC, OIL; Dharmendra Pradhan also present at meeting
India

Narendra Modi reviews oil and gas production profile of ONGC, OIL; Dharmendra Pradhan also present at meeting

Narendra Modi on Friday reviewed the oil and gas production profile of state-owned ONGC and OIL over the near to medium term to assess how his target to cut oil imports by 10 percent would be met.

Govt plans to come up with 'special policy' for biofuel use in aviation sector, says union minister Nitin Gadkari
Business

Govt plans to come up with 'special policy' for biofuel use in aviation sector, says union minister Nitin Gadkari

Nitin Gadkari was speaking at a function to mark India's first test flight partially powered by biofuel that landed Delhi from Dehradun

Narendra Modi says ethanol production to save Rs 12,000 cr in imports; blames previous govts for not being serious about it
Business

Narendra Modi says ethanol production to save Rs 12,000 cr in imports; blames previous govts for not being serious about it

Prime Minister Narendra Modi said as many as 12 biofuel refineries at an investment of Rs 10,000 crore have been planned in the country

Amid US sanctions, Iran extends shipping, insurance cover to keep oil flowing to India
Business

Amid US sanctions, Iran extends shipping, insurance cover to keep oil flowing to India

The US has threatened to cut off access to the American banking system for foreign financial institutions that trade with Iran. This has led to European re-insurers refusing to give insurance cover to firms importing Iranian oil.

Govt sets up task force to suggest ways on reducing import dependence, says official
Business

Govt sets up task force to suggest ways on reducing import dependence, says official

In 2017-18, India's imports grew about 20 percent to $460 billion.

Sensex, Nifty retreat from record highs on profit-booking, weak macroeconomic data
Business

Sensex, Nifty retreat from record highs on profit-booking, weak macroeconomic data

Sensex after a higher start at 34,877.71, advanced to 34,936.03 in morning trade on continued buying by investors. However, across-the-board profit booking at record levels pulled it down to a low of 34,735.55 and finally settled 72.46 points, or 0.21 percent.

Foreign Trade Policy mid-term review: Exporters heave a sigh of relief; now for quicker GST refunds
Business

Foreign Trade Policy mid-term review: Exporters heave a sigh of relief; now for quicker GST refunds

According to industry estimates, in four months since July when GST came into effect, “about Rs 40,000-50,000 crore” has been pending with the government in the form of GST refunds

Petrol pumps to remain shut on Sundays: Fuel conscious? Or merely money-conscious?
Business

Petrol pumps to remain shut on Sundays: Fuel conscious? Or merely money-conscious?

Could it be that the privileges these pump owners once enjoyed – of cash transactions, of favourable deals and of shortchanging customers – are now coming to a close in a digitized and more transparent age?

IOC's oil import from Iran increases 4-fold to 5 MT for FY17
Business

IOC's oil import from Iran increases 4-fold to 5 MT for FY17

India has steadily raised crude oil imports from Iran after US sanctions were lifted in January this year

CAD may fall below 1% in FY17, but India to face Brexit heat: Arvind Subramanian
Business

CAD may fall below 1% in FY17, but India to face Brexit heat: Arvind Subramanian

Though the price of gold is surging, it may not have an impact on the overall CAD as the yellow metal imports constitutes less than half of the oil import bill resulting a in net positive affect