Wednesday, 6 July, 2022
TopicOil imports

Topic: Oil imports

Lured by discounts, India in talks to double down on oil imports from Russia’s Rosneft

State processors are collectively working on finalizing and securing new six-month supply contracts for Russian crude to India, eager to take more of the heavily-discounted stocks.

More Russian oil than ever before is heading for India and China

As other nations restrict imports because of the war in Ukraine, India and China have snapped up millions of barrels from Russia to take advantage of hefty discounts on the flows.

Indian backdoor for Russian oil weakens calls for European ban

India’s diesel exports in March were highest since April 2020 when it hit 847,000 barrels a day, according to Jane Xie, a senior oil analyst at data and analytics firm Kpler in Singapore.

Some festive cheer on edible oils front as prices dip, mustard oil is the only exception

As many as 4 import duty cuts were effected with respect to three edible oils between June and September, following a sharp rise in prices over the preceding months.

Iran Foreign Minister Javad Zarif lands in India today for ‘gentle push’ on oil imports

Javad Zarif’s India trip comes amid tensions between Tehran and Washington over the killing of senior Iranian commander Qassem Soleimani in a US drone strike. 

India’s appetite for petroleum fuels drops to 6-year low

India’s consumption of petroleum products in 2019-20 is expected to rise by 1.3%, the slowest since the 0.9% demand growth in 2013-14.

India switches to sunflower oil as palm oil imports fall on soaring prices

Palm oil has soared more than 50% since middle of July on concerns about falling output & growing demand for biofuel, making shipments expensive.

Surge in Indonesia and Malaysia’s palm oil prices may shrink sales to India

India will shift some purchases to other edible oils this winter after palm’s surge of about 30% from last month’s low.

Pizza dough to lipstick to biodiesel — India needs Malaysia’s palm oil but traders wary now

Malaysian prime minister had ticked off New Delhi after saying India ‘invaded’ Kashmir, prompting India to threaten palm oil restrictions.

Oil spike sends India assets lower as inflation concerns revive

India buys more than two-thirds of its oil, mostly from the Middle East, which means if crude prices stay up, RBI may not be able to deliver more than 25 basis points of cuts.

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Illustration by Soham Sen

Keep calm and carry on: Unlike wheat, rice isn’t hot yet

The world is worried that India might restrict exports of rice after wheat, pushing prices higher and worsening global food security.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

Army puts out tender for 30k ‘night sights’ so its US-made assault rifles can aim better in dark

While an open tender has been issued for procurement of the optical instruments, Bengaluru-based firm Tonbo Imaging, whose services the Army has previously used, is a frontrunner.

Moral, political & ideological questions on Maharashtra: 1st is simplest to answer, 3rd trickiest

What is Shiv Sena’s ideology? We might say it’s been a convenient mix of extreme ethnic chauvinism & unforgiving Hindutva. Within the second, the party retained space to manoeuvre.
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