Oil Imports

  • Disappointed with India's decision to cut oil imports: Iran 28-02-2014 08:37 PM

    Suhasini Haidar: Hello and Welcome to the exclusive interview on CNN-IBN. With me, Iran's Foreign Minister Javid Zarif. India owes Iran nearly $ 5 billion for oil imports, Iran has been seeking some of that payment. Tell us how your talks went? Javid Zarif: I've just started these talks and...
  • Gold, oil import pushed CAD to 4.9 per cent of GDP in Q1, says RBI 30-09-2013 05:57 PM

    High imports of gold and oil pushed Current Account Deficit (CAD) to 4.9 per cent of GDP to USD 21.8 billion in the April-June quarter of the current fiscal, RBI said on Monday. CAD, the difference between inflow and outflow of foreign exchange, was 4.4 per cent or USD 16.9...
  • Using energy efficient technology can cut oil, gas, coal imports: Experts 09-09-2013 11:27 AM

    India should focus on development and adoption of energy-efficient technologies in order to cut dependence on oil, gas and coal imports, said experts. "We need to take cognisance of the escalating costs of energy and thereby work towards adopting technologies which will reduce energy consumption and also reduce our dependence...
  • Availability of insurance, vessels for carrying oil from Iran is an issue: Khurshid 03-09-2013 04:49 PM

    New Delhi: India on Monday said there were a host of issues concerning import of oil from Iran, especially the drying up of banking channels, but it was in touch with several countries for a way to resolving them. "There are issues of availability of insurance and vessels for carrying...
  • India could save $8.5 billion by buying extra Iranian oil: Veerappa Moily 02-09-2013 09:29 AM

    India could save $8.5 billion in foreign exchange spending on crude oil imports in 2013/14 if it relied more on supplies from Iran, which is able to accept payment in rupees, Oil Minister M Veerappa Moily said. In a letter to Prime Minister Manmohan Singh spelling out a strategy to...
  • Moily meets Chidambaram to discuss ways to cut oil import bill 29-08-2013 05:38 PM

    With fall in rupee value and the Syrian crisis ballooning oil import bill, Petroleum Minister M Veerappa Moily on Thursday met Finance Minister P Chidambaram to discuss possible solutions including Rs 3-4 per litre hike in diesel prices and cut in duties. The over 20 per cent rupee depreciation this...
  • PM seeks USD 25 billion cut in oil import bill to narrow current account deficit 27-08-2013 07:43 PM

    Prime Minister Manmohan Singh has sought USD 25 billion cut in oil import bill to narrow current account deficit, Oil Minister M Veerappa Moily on Tuesday said. India, which paid about USD 170 billion last fiscal for importing oil, is renewing imports of the fuel from Iran as unlike imports...
  • India now Nigeria's biggest crude oil buyer 15-07-2013 02:30 PM

    Abuja: India has overtaken the US as the top buyer of Nigerian crude oil, a top Indian diplomat here has said. Indian High Commissioner to Nigeria Mahesh Sachdev said recent statistics showed that India had been buying more of Nigeria's crude than the US over the last three months. "India...
  • Moily retracts statement on threat from import lobby 15-06-2013 09:20 PM

    Bangalore: Petroleum Minister M Veerappa Moily Saturday denied he had said that he faced a threat personally from oil import lobbies. "I did not say that. My statement has been confused by media," he told reporters on the margins of a function in Bangalore. Moily said what he had stated...
  • Moily hits out at oil lobbies, says they threaten petroleum ministers 14-06-2013 02:50 PM

    New Delhi: Petroleum Minister Veerappa Moily spoke against those opposing the government's move to put in place a new pricing regime for natural gas produced from domestic fields. Moily hit out at oil import lobbies saying they threaten all oil ministers. "Every minister who occupies this position is threatened by...
  • Iran offers oilfield to India on lucrative terms 28-05-2013 10:58 AM

    New Delhi: Rattled by India's sharp cut in purchase of its oil, Iran has offered oilfields on lucrative terms, routing gas pipeline through sea to avoid Pakistan and insurance to refiners provided New Delhi raised oil imports. Iran mounted a high-level delegation led by its Oil Minister Rostam Ghasemi to...
  • Palmolein scam: CPM asks for Chandy's resignation 09-08-2011 02:46 PM

    Thiruvananthapuram: CPM in Kerala on Tuesday stepped up its demand for resignation of Chief Minister Oommen Chandy in the wake of a Vigilance Court ordering a probe into his role in the palmolein oil import deal when he was Finance Minister in the K Karunakaran government in 1992. Addressing a...