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oil imports News
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Tue, May 17, 2016
In April, exports contracted for the 17th straight month, deepening 6.7% y-o-y from 5.5% in March.