Crude Oil Payments
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"No Payment Hurdle For Iranian Crude Imports": India Dismisses Rumours
The Ministry of Petroleum and Natural Gas dismissed reports that an oil tanker carrying Iranian crude had rerouted mid-voyage from its previously indicated destination of India to China.
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India-Bound US-Sanctioned Ship Carrying Iranian Oil Reroutes Midway To China
The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat.
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Iran Crude To Return? Tanker Carrying 600,000 Barrels Signals Gujarat Port
India's crude oil purchase from Iran comes on the back of the US offering a 30-day waiver (which expires April 19 and covers pre-loaded cargo only) of sanctions in light of global energy disruptions due to its war on Iran.
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A Warning From 1991: Is India's Next Big Shock Hiding In Its Oil Bill?
What has economists invoking 1991 is not just expensive oil, but a dangerous convergence of risks. A swelling import bill is colliding with the possibility that capital inflows, long a cushion, could turn into outflows.
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US Issues License For Oil Companies To Operate In Venezuela
The Trump administration issued a general licence expanding the ability of oil companies to operate in Venezuela, marking a significant step to ease sanctions under the new US-backed leadership in Caracas.
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Some Banks Stop Credit For Oil Imports By Rosneft-Owned India Refiner Nayara - Report
HDFC Bank and some foreign banks have stopped offering trade credit for oil imports to Nayara Energy, a Russian-backed refiner, and some suppliers are seeking payment upfront to avoid potential problems resulting from western sanctions against Moscow
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Venezuela Turns To India For Major Oil Exports As US Sanctions Bite
Venezuela's oil exports have tapered off and shifted toward India since new US sanctions began on January 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions.
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Centre To Exempt Rupee Payments For Iran Oil From Hefty Taxes
The finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters.
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India In Touch With EU Over Alternative Payment For Iran Oil Imports
As the US sanctions on import of Iranian crude oil loom large, India is engaged with the European Union for an alternative channel for making payments to Tehran for buying petroleum products, sources said Wednesday.
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Ahead Of PM Modi's Visit, Indian Refiners Clear Part Of $6.4 Billion Dues To Iran
Ahead of Prime Minister Narendra Modi's maiden visit to Iran, Indian refiners have cleared part of the $6.4 billion owed to the country for crude oil imports in euros. The payments made over the last couple of days are the first euro payments made by India in four years.
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"No Payment Hurdle For Iranian Crude Imports": India Dismisses Rumours
The Ministry of Petroleum and Natural Gas dismissed reports that an oil tanker carrying Iranian crude had rerouted mid-voyage from its previously indicated destination of India to China.
-
India-Bound US-Sanctioned Ship Carrying Iranian Oil Reroutes Midway To China
The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat.
-
Iran Crude To Return? Tanker Carrying 600,000 Barrels Signals Gujarat Port
India's crude oil purchase from Iran comes on the back of the US offering a 30-day waiver (which expires April 19 and covers pre-loaded cargo only) of sanctions in light of global energy disruptions due to its war on Iran.
-
A Warning From 1991: Is India's Next Big Shock Hiding In Its Oil Bill?
What has economists invoking 1991 is not just expensive oil, but a dangerous convergence of risks. A swelling import bill is colliding with the possibility that capital inflows, long a cushion, could turn into outflows.
-
US Issues License For Oil Companies To Operate In Venezuela
The Trump administration issued a general licence expanding the ability of oil companies to operate in Venezuela, marking a significant step to ease sanctions under the new US-backed leadership in Caracas.
-
Some Banks Stop Credit For Oil Imports By Rosneft-Owned India Refiner Nayara - Report
HDFC Bank and some foreign banks have stopped offering trade credit for oil imports to Nayara Energy, a Russian-backed refiner, and some suppliers are seeking payment upfront to avoid potential problems resulting from western sanctions against Moscow
-
Venezuela Turns To India For Major Oil Exports As US Sanctions Bite
Venezuela's oil exports have tapered off and shifted toward India since new US sanctions began on January 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions.
-
Centre To Exempt Rupee Payments For Iran Oil From Hefty Taxes
The finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters.
-
India In Touch With EU Over Alternative Payment For Iran Oil Imports
As the US sanctions on import of Iranian crude oil loom large, India is engaged with the European Union for an alternative channel for making payments to Tehran for buying petroleum products, sources said Wednesday.
-
Ahead Of PM Modi's Visit, Indian Refiners Clear Part Of $6.4 Billion Dues To Iran
Ahead of Prime Minister Narendra Modi's maiden visit to Iran, Indian refiners have cleared part of the $6.4 billion owed to the country for crude oil imports in euros. The payments made over the last couple of days are the first euro payments made by India in four years.
