Oil Refiners

India is playing an increasingly important role in global oil markets, buying more and more cheap Russian oil and refining it into fuel for Europe and the US.

Electric vehicle adoption in India is growing rapidly, prompting a major rethink about demand for fuel, while refiners in the third-largest economy on the continent are moving away from producing fuel. Despite new momentum in India, the question for the country is whether it will be enough to ultimately shake its fossil fuel dependency. State refin...

India, a leading buyer of Russian oil, does not expect its fuel exports to be disrupted by a European Union ban on the purchase of Russian refined fuels beginning February 5, oil secretary Pankaj Jain said on Friday.

Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month.

Indian refiners are wary of buying Russia crude oil loading after Dec. 5 when European Union sanctions take effect, pending clarity on the proposed G7 price cap mechanism, according to sources.

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.

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.

IIT Jodhpur researchers has developed a model for control and schedule maintenance of heat exchanger networks to increase the efficiency of refineries.

Indian state fuel retailers have not raised pump prices since April.

India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late on Friday, as prices corrected in the world market.

Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier.

India's palm oil imports in 2022/23 could jump 23% from a year earlier to 9.5 million tonnes, the highest in eight years, as a rebound in consumption and competitive prices prompts refiners to increase purchases, the country's top palm oil buyer said.

Indian refiners are set to skip purchases of Russia ESPO crude oil this month due to higher freight rates, turning to Africa and the Middle East instead, industry sources said.

Finance Minister Nirmala Sitharaman on Monday defended the windfall tax on domestically produced crude oil and additional tax on exports of refined petroleum products, saying the levy has been imposed in full consultation with the industry.

Indian Oil Corp, the country's top refiner, has set a 2046 net zero carbon emissions goal, its chairman S. M. Vaidya said at annual shareholders meet.

India is playing an increasingly important role in global oil markets, buying more and more cheap Russian oil and refining it into fuel for Europe and the US.

Electric vehicle adoption in India is growing rapidly, prompting a major rethink about demand for fuel, while refiners in the third-largest economy on the continent are moving away from producing fuel. Despite new momentum in India, the question for the country is whether it will be enough to ultimately shake its fossil fuel dependency. State refin...

India, a leading buyer of Russian oil, does not expect its fuel exports to be disrupted by a European Union ban on the purchase of Russian refined fuels beginning February 5, oil secretary Pankaj Jain said on Friday.

Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month.

Indian refiners are wary of buying Russia crude oil loading after Dec. 5 when European Union sanctions take effect, pending clarity on the proposed G7 price cap mechanism, according to sources.

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.

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.

IIT Jodhpur researchers has developed a model for control and schedule maintenance of heat exchanger networks to increase the efficiency of refineries.

Indian state fuel retailers have not raised pump prices since April.

India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late on Friday, as prices corrected in the world market.

Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier.

India's palm oil imports in 2022/23 could jump 23% from a year earlier to 9.5 million tonnes, the highest in eight years, as a rebound in consumption and competitive prices prompts refiners to increase purchases, the country's top palm oil buyer said.

Indian refiners are set to skip purchases of Russia ESPO crude oil this month due to higher freight rates, turning to Africa and the Middle East instead, industry sources said.

Finance Minister Nirmala Sitharaman on Monday defended the windfall tax on domestically produced crude oil and additional tax on exports of refined petroleum products, saying the levy has been imposed in full consultation with the industry.

Indian Oil Corp, the country's top refiner, has set a 2046 net zero carbon emissions goal, its chairman S. M. Vaidya said at annual shareholders meet.