India Oil Imports

Guyana's upcoming bidding round for offshore areas has caught the interest of top energy companies from Asia to Europe, according to people familiar with the matter, even as the government continues to work out terms for the auction.

India bought a record amount of Russian oil last month, with the country importing a whopping 33 times more than a year earlier.

India, the world's third biggest oil-consuming and importing nation, is looking to raise domestic output to help cut down reliance on costly imports.

The government on Thursday said it is taking all steps to ensure crude oil supplies and mitigate the risk of dependence on a single region.

The European Union ban on imports of Russia's seaborne oil from Dec5 has driven Moscow to seek alternative markets, mainly in Asia, for about 1 million barrels per day.

Russia has for the second month in a row remained India's top oil supplier in November, surpassing traditional sellers Iraq and Saudi Arabia, according to data from energy cargo tracker Vortexa.

The government does not ask Indian companies to buy oil from Russia but it is a sensible policy to get the best deal in the interest of the Indian people, External Affairs Minister S Jaishankar said on Wednesday.

Ukraine's Foreign Minister has hit out at India over imports of cheap Russian oil, referring to it as being ''morally inappropriate.''

India on Monday stoutly defended its import of crude oil from Russia amid the Ukraine conflict with Foreign Minister S Jaishankar asserting that New Delhi's procurement was just one-sixth of the European purchase in the last nine months.

India on Monday stoutly defended its import of crude oil from Russia amid the Ukraine conflict with External Affairs Minister S Jaishankar asserting that New Delhi's procurement was just one-sixth of the European purchase in last nine months.

The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an "important tool" that will benefit emerging markets.

India will continue to buy crude oil from anywhere in the world, including Russia, to meet its energy needs, a top official said ahead of EU restrictions on Russian oil kicking in.

India's oil imports from Iraq plunged to a 20-month low in October as refiners continued to buy discounted Russian barrels and boosted purchases of West African crude.

Iranian Envoy Dr Iraj Elahi on Friday said despite US sanctions Tehran is ready to supply oil to India as both countries have close ties.

India's oil imports from the Middle East fell to a 19-month low in September while Russian imports rebounded although refining outages hit overall crude imports, data from trade and shipping sources showed.

Guyana's upcoming bidding round for offshore areas has caught the interest of top energy companies from Asia to Europe, according to people familiar with the matter, even as the government continues to work out terms for the auction.

India bought a record amount of Russian oil last month, with the country importing a whopping 33 times more than a year earlier.

India, the world's third biggest oil-consuming and importing nation, is looking to raise domestic output to help cut down reliance on costly imports.

The government on Thursday said it is taking all steps to ensure crude oil supplies and mitigate the risk of dependence on a single region.

The European Union ban on imports of Russia's seaborne oil from Dec5 has driven Moscow to seek alternative markets, mainly in Asia, for about 1 million barrels per day.

Russia has for the second month in a row remained India's top oil supplier in November, surpassing traditional sellers Iraq and Saudi Arabia, according to data from energy cargo tracker Vortexa.

The government does not ask Indian companies to buy oil from Russia but it is a sensible policy to get the best deal in the interest of the Indian people, External Affairs Minister S Jaishankar said on Wednesday.

Ukraine's Foreign Minister has hit out at India over imports of cheap Russian oil, referring to it as being ''morally inappropriate.''

India on Monday stoutly defended its import of crude oil from Russia amid the Ukraine conflict with Foreign Minister S Jaishankar asserting that New Delhi's procurement was just one-sixth of the European purchase in the last nine months.

India on Monday stoutly defended its import of crude oil from Russia amid the Ukraine conflict with External Affairs Minister S Jaishankar asserting that New Delhi's procurement was just one-sixth of the European purchase in last nine months.

The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an "important tool" that will benefit emerging markets.

India will continue to buy crude oil from anywhere in the world, including Russia, to meet its energy needs, a top official said ahead of EU restrictions on Russian oil kicking in.

India's oil imports from Iraq plunged to a 20-month low in October as refiners continued to buy discounted Russian barrels and boosted purchases of West African crude.

Iranian Envoy Dr Iraj Elahi on Friday said despite US sanctions Tehran is ready to supply oil to India as both countries have close ties.

India's oil imports from the Middle East fell to a 19-month low in September while Russian imports rebounded although refining outages hit overall crude imports, data from trade and shipping sources showed.