India invited the West’s anger over Russian oil. But buying discounted Russian oil was in India’s interest, so the Modi government stood its ground and bought shipload after shipload of Russian Ural grade oil. It was a win for Russia too which found a buyer with an unlimited appetite, so it didn't really mind the discounts But That has changed. Deep discounts on Russian crude which were to the tune of $30 per barrel at one point have come down to just 4$. What will India do now? Watch the video to find out.
19 Jul 2023India may be the world's third largest crude oil importer but has never has to import diesel or petrol due to its surplus refining capacities. But that may change next year
2 min read28 Nov 2018India's crude oil demand is forecast to grow to 500 million tonnes per year by 2040, but persistent increases in oil prices might act as a dampener for the rate of growth, says an Indian Oil executive
2 min read25 Sep 2018Indian Oil plans to invest 1.43 trillion in the next five years to expand projects across its business segments
2 min read29 Aug 2018The Indian Oil capex plan is aimed at doubling its refinery capacity, boosting petrochemical production and laying new pipelines, says chairman Sanjiv Singh
3 min read5 Aug 2018Due to a loophole in India's environmental taxes, petcoke has become an attractive raw material for power stations and cement plants
3 min read19 Jul 2018An initial agreement for Abu Dhabi National Oil Company (ADNOC) for buying stake in Ratnagiri refinery will be signed in UAE on Sunday
2 min read12 May 2018India used 2.02 million tonnes of aviation fuel from January-March this year, up 9.4% from a year earlier, the latest government data showed
2 min read18 Apr 2018Indian Oil is getting into renewable energy and related infra while keeping refinery expansion plans flexible for course correction, says chairman Sanjiv Singh
2 min read7 Dec 2017In 2016, the US sent more than 8 million metric tons of petcoke to India about 20 times more than in 2010, and enough to fill the Empire State Building eight times
4 min read1 Dec 2017The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared