INSANE: Sumit ritolia - The Real Truth

India's Russian crude imports fall to five-month low as refiners diversify supplies

India's crude oil landscape shifted in September as imports from Russia plummeted to their lowest since April, prompting refiners to seek alternatives. Despite this drop, overall crude imports surged, bolstered by robust refinery activity and rising fuel requirements. Increased supplies from Iraq and Saudi Arabia have effectively offset the reduction…

The Economic Times · Sep 28

Why are petrol and diesel so expensive despite crude oil not reaching record highs?

Pump prices could remain high in Europe, adding to inflationary pressure. The immediate problem is not just the supply or price of crude oil, but limited refining capacity, disrupted trade flows and shortages of finished fuels, particularly diesel.

Euronews · Sep 5

India pivots to US for LPG, LNG as West Asia crisis disrupts Gulf supplies

India is sharply increasing LPG and LNG imports from the United States as West Asia disruptions constrain traditional Gulf supplies. US LPG accounted for over 73% of India’s LPG imports in August, while US LNG volumes also rose. Russia remains India’s largest crude supplier, while Venezuela and the UAE gain…

The Economic Times · Aug 25

India's June crude imports hit record high as Russian supplies surge despite West Asia tensions

India's crude oil imports hit a record 4.93 million barrels per day in June, bolstered by substantial purchases from Russia, which solidified its role as the top supplier. This surge underscores India's robust supply chain resilience amidst global geopolitical tensions. Analysts highlight proactive diversification and procurement strategies as key to…

The Economic Times · Jul 1

Indian refiners unlikely to rush for Iranian oil despite temporary US sanctions waiver, says analyst

Indian refiners are unlikely to sharply raise purchases of Iranian crude despite a 60-day US sanctions waiver, as uncertainty over its duration, payment hurdles and existing supply commitments limit fresh buying, market analyst Sumit Ritolia said. Refiners have already secured most crude requirements for the coming months through advance procurement…

The Economic Times · Jun 26

Will Asia return to Iranian oil? Tehran races to secure largest oil importers after US waiver, says report

Iran is actively seeking new buyers for its oil in Asia, including India, Japan, and South Korea, following a temporary US sanctions waiver. This move aims to clear millions of barrels stored at sea and diversify its customer base beyond China. While some refiners are cautiously exploring opportunities, uncertainty surrounding…

The Times of India · Jun 23

Indian refiners increase Russian and UAE oil imports ahead of Hormuz recovery

India's crude oil imports hit a milestone in June, as Russia emerged as the primary supplier, followed closely by the UAE's near-record imports. This shift represents a calculated diversification strategy, influenced by attractive discounts and apprehensions surrounding the Strait of Hormuz. Venezuela is stepping into a crucial role, while the…

The Economic Times · Jun 21

U.S. Becomes India's Top LNG, LPG Supplier As Gulf Shipments Fall Amid Iran War

The United States supplied more LNG and LPG to India than Gulf exporters in May as shipping disruptions resulting from wars continue disrupting energy trade flows.

International Business Times · Jun 11

India's fuel exports fall to lowest since 2022 amid refinery maintenance, domestic demand

India's refined fuel exports dropped significantly in May, reaching their lowest point since October 2022. Refinery maintenance, particularly at Reliance Industries' Jamnagar complex, reduced processing. Refiners also prioritized domestic demand for LPG, cutting petrol and diesel output for export. Favorable domestic sales and taxes on exports further influenced this trend.…

The Economic Times · Jun 3

Kharg Island: Iran's oil hub in the crosshairs

NEW DELHI: US airstrikes on Kharg Island, the nerve centre of Iran's oil export network, have sharply escalated tensions in West Asia and raised fears of further disruption in global energy supplies. While Iran claimed that oil operations on the island continued despite the attack, it warned that retaliation could…

The Times of India · Mar 15