OIL IMPORTS

  • Disappointed with India's decision to cut oil imports: Iran February 28, 2014

    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 they...
  • Energizing India: How can India meets its challenges in the oil sector January 26, 2014

    India needs to march towards becoming energy sufficient country to meet its burgeoning demand for oil and gas falling which its current account deficit will reach unsustainable levels and the economy will be at a risk of collapse. ...
  • Energizing India: Working towards energy selfsufficiency January 12, 2014

    There has been a lot of buzz on the dwindling output of gas and oil in the country which has landed the economy and the oil and natural gas sector in a crisis. On this show experts discuss the challenges faced by the sector and what needs to be done...
  • Gold, oil import pushed CAD to 4.9 per cent of GDP in Q1, says RBI September 30, 2013

    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 AprilJune 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 billion...
  • Using energy efficient technology can cut oil, gas, coal imports: Experts September 9, 2013

    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 on...
  • Availability of insurance, vessels for carrying oil from Iran is an issue: Khurshid September 3, 2013

    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 oil...
  • India could save $8.5 billion by buying extra Iranian oil: Veerappa Moily September 2, 2013

    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 curb...
  • Moily meets Chidambaram to discuss ways to cut oil import bill August 29, 2013

    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 year...
  • PM seeks USD 25 billion cut in oil import bill to narrow current account deficit August 27, 2013

    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 from...
  • India now Nigeria's biggest crude oil buyer July 15, 2013

    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 will...
  • Moily retracts statement on threat from import lobby June 15, 2013

    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 was...
  • Moily hits out at oil lobbies, says they threaten petroleum ministers June 14, 2013

    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 the...
  • Iran offers oilfield to India on lucrative terms May 28, 2013

    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 highlevel delegation led by its Oil Minister Rostam Ghasemi to...
  • Govt plans reinsurance fund to cover refiners using Iranian oil March 24, 2013

    New Delhi: Government's plans to set up a fund to back local insurers providing cover for refiners processing Iranian oil after companies warned they would be forced to halt imports from the sanctionshit nation, the federal oil secretary said on Sunday. Mangalore Refinery and Petrochemicals Ltd and Essar Oil have said...
  • India may cut oil import from Iran by 27 per cent March 18, 2013

    New Delhi: India may slash import of crude oil from Iran by as much as 27 per cent this fiscal because US and European sanctions have made it difficult to ship oil from the Persian Gulf nation. India may, in the financial year ending March 31, import just about 13 million...
  • India's February exports up by 4.25 per cent March 11, 2013

    New Delhi: India's February exports rose 4.25 per cent from a year earlier to $26.3 billion, while imports rose 2.6 per cent to $41.2 billion, leaving a trade deficit of $14.9 billion, trade ministry officials said on Monday. Exports between April and February fell 4 per cent year-on-year to $265.95 billion....
  • India to cut Iran oil imports in its 2014 fiscal year December 20, 2012

    New Delhi: India plans to cut oil imports from Iran by 10 to 15 percent in the next fiscal year, and more if Tehran does not lower prices to help cover higher costs resulting from Western sanctions, a government source said. Iran's top Asian oil buyers China, India, Japan...
  • 'US not bullying India to cut oil imports from Iran' May 16, 2012

    New Delhi: The US has denied allegations of bullying India to cut oil imports from Iran. Speaking exclusively to CNNIBN's Suhasini Haider, US Ambassador Nancy Powell said one of their diplomats had been misquoted on the issue. Following is an excerpt of the interview: Suhasini Haider: India still faces financial sanctions from...
  • India decides to cut oil import from Iran May 15, 2012

    New Delhi: Succumbing to US pressure, India has decided to cut crude oil import from Iran by over 11 per cent this fiscal to 15.5 million tons. India, which imports 80 per cent of its crude oil and relies on Tehran for 12 per cent of those imports, shipped 18.50...
  • Has America armtwisted India on Iran? May 12, 2012

    US Secretary of State Hillary Clinton, during her recent visit, urged India to do more to reduce its oil imports from Iran, as part of Washington's continuing efforts to curb Tehran's nuclear programme. ...
  • Has America armtwisted India on Iran? May 11, 2012

    Suhasini Haidar: Hello and welcome to Worldview with me Suahsini Haider. Tonight, we're looking at two big issues of global importance that have left a big impact on India, as Hillary Clinton visited, the pressure building on IndiaIran ties. We'll have an exclusive CNN interview with Hillary Clinton on that...
  • Hillary to meet Krishna, Saeed on the agenda May 8, 2012

    New Delhi: It is the third and final day of US Secretary of State Hillary Clinton's visit to India. She will hold a breakfast meeting with External Affairs Minister SM Krishna on Tuesday before heading back home. India is expected to seek clarity from the US on the bounty on...
  • Hard decisions cannot be delayed now: Pranab April 12, 2012

    New Delhi: Finance Minister Pranab Mukherjee on Wednesday said hard decisions cannot be delayed anymore as the times are difficult now. "We are passing through a difficult time... Nation as a whole... we will have to be tough... we cannot delay the process of taking hard decisions," Mukherjee said at...
  • US in talks with India on Iranian oil import March 23, 2012

    Washington: The US is in touch with several countries including India and Turkey to how to "significantly reduce" their dependence on Iranian oil to avoid American sanctions in this regard, a State Department official said. "We are working hard with India to see if we can help with regard to reducing...
  • India defies US, EU; won't cut Iran oil imports January 30, 2012

    Chicago: India has stood up to the US saying it will not cut its oil imports from Iran despite America and European Union's sanctions against Tehran. Finance Minister Pranab Mukherjee boldly made this clarification during his visit to the US on Sunday. Mukherjee's clarification came just a day before Foreign Ministers...
  • Palmolein scam: CPM asks for Chandy's resignation August 9, 2011

    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 press...