SUNFLOWER OIL IMPORTS INDIA
India is making a big move to outflank China in Sri Lanka
India and China may be locked in an escalating energy rivalry in Sri Lanka. India plans a new energy hub at Trincomalee with the UAE, including an oil pipeline. This initiative aims to secure fuel supply chains and counter China's expanding presence in Sri Lanka's energy market. The project seeks to reshape regional energy dependence.
India expands Russian marine insurance options
India has increased the number of Russian insurers authorized to provide marine cover for ships docking at its ports. This move allows more Russian companies to offer protection and indemnity coverage. The expanded list includes several Russian firms with registrations valid until 2026, 2027, 2029, and 2030.
Is it time to abandon hope the Strait of Hormuz will open soon?
The closure of the Strait of Hormuz has thrown global oil markets into turmoil, deepening an energy crisis with far-reaching effects. Asia, a powerhouse in oil consumption, is experiencing a drastic downturn as crude and refined imports dwindle. The plummeting physical oil prices highlight an immediate supply crunch, compelling refineries to downsize their processing capacities, which threatens significant economic fallout.
India pushes for regional energy hub in Sri Lanka
India is pushing for quick progress on a key energy hub project in Sri Lanka. The proposed oil hub in Trincomalee is a strategic initiative involving India and the UAE. Officials met in Colombo to discuss accelerating the project. This development comes as global energy supplies face disruption. The hub aims to enhance regional energy security and cooperation.
US extends waiver allowing India and other countries to buy Russian oil
The Donald Trump administration has issued a short-term waiver allowing countries to continue buying sanctioned Russian oil loaded on ships until May 16, aiming to stabilise global energy prices amid the US-Israeli war on Iran.
US move on Russian oil waiver adds pressure as Iran war strains energy markets, India engaged in talks: Sources
India faces a tougher energy market as the US will not extend waivers for Russian oil imports. This decision impacts countries already struggling with the Hormuz crisis. Russia has assured India of continued energy supplies, including crude oil, LPG, and LNG. India's oil imports from Russia have significantly increased, making it a key market for Moscow.
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Indian refiner Reliance rejects Iran oil cargoes as waiver deadline looms
Reliance Industries has rejected two Iranian oil cargoes. This comes just before a U.S. waiver on Iranian oil exports expires. Washington will not renew these waivers. India had allowed Reliance to buy Iranian oil on several sanctioned tankers. Reliance stated the Derya tanker cargo did not meet compliance requirements. Indian Oil Corp recently bought Iranian crude.
Indian refiners pay for Iran oil in yuan via ICICI Bank, sources say
Indian refiners are making payments for Iranian oil using Chinese yuan. This is happening through ICICI Bank's Shanghai office. Indian Oil and Reliance have bought shipments under a temporary U.S. sanctions waiver. This payment method has not been previously reported. India has also used yuan for Russian oil. The U.S. waiver on Iranian oil is set to expire soon.
India's crude imports down 21%; Russia tops, Iran gains
Iran supplied about 4 million barrels in April, or 7% of total imports, resuming shipments to India after seven years. However, a US naval blockade of Iranian ports, currently underway, could constrain further supplies this month.
India's trade gap may widen in FY27 amid global and oil risks: Report
India's trade deficit narrowed in March, but this improvement may not last. Experts warn of a widening deficit in the coming months. Factors like external shocks, slowing global demand, and import pressures are expected to impact trade. Exports face challenges due to weak global demand. The current account deficit is projected to widen.
India may get a crude hit from Trump's curbs on Russian & Iranian oil buying freedom
The United States has ended sanctions waivers that allowed countries, including India, to buy Russian and Iranian oil without penalties, a move that could tighten global supplies and pressure Indian refiners. US Treasury Secretary Scott Bessent confirmed the decision, saying the temporary licenses for Russian and Iranian crude would not be renewed.
Russian LNG under US sanctions heads for the first time to India
A Russian liquefied natural gas cargo, currently under United States sanctions, is en route to India. This shipment, if it reaches its destination, would mark the first such delivery to India since former US President Donald Trump stated India would cease buying Russian energy. India has not confirmed this pledge.
Iranian oil arrives in India just ahead of US waiver expiry
India has received Iranian oil shipments. This marks the first imports in seven years. The nation is securing volumes before a US grace period ends. Tankers are discharging crude on India's east and west coasts. This move aims to manage global energy flow disruptions. India is leveraging waivers for previously restricted oil.
Crude unlikely to return to pre-war levels soon; India's import bill may rise $70bn annually: Report
India's oil import bill is set to surge by over $70 billion annually as crude oil prices remain high due to the West Asia conflict. Shipping routes are critical and remain uncertain. Refineries are damaged, and rebuilding will take time. Freight and insurance costs have also increased. India will diversify import sources.
Aatmanirbhar 2.0 in works to cushion India against supply chain, energy pain
India had unveiled several targeted interventions during the Covid-19 pandemic to ensure availability of several key products and to reduce dependence on imports as part of the Aatmanirbhar initiative.
India's Russian oil imports more than triple to 5.3 billion euro in March
India’s crude oil imports from Russia surged in March, with purchases tripling to €5.3 billion as volumes doubled and prices rose, according to Centre for Research on Energy and Clean Air. The spike followed a US sanctions waiver, prompting state refiners to resume buying. Russia remained India’s top supplier, while China led overall purchases. Asian markets continued to dominate Russian oil exports.
Ukraine strikes on Russian oil ports put India’s refining lifeline at risk, IEA warns
Ukraine’s drone strikes on key Russian oil ports — Primorsk, Ust-Luga and Novorossiysk — are threatening India’s crude supply chain, with the International Energy Agency warning of potential disruptions to refining operations. With about 80% of India’s Russian imports routed through these hubs, any prolonged outage could tighten feedstock availability, even as reliance on discounted Russian crude has surged and alternative supplies remain limited.
The Hormuz blockade is as much about China as Iran
The US plans to block Iranian oil exports to pressure Tehran and indirectly target China, its main buyer. While Iran has earned higher revenues during the conflict, a blockade could hurt its economy. However, past sanctions failed to change Iran’s stance, and China may rely on reserves, limiting US leverage.
India imposes import curbs on herbicide Glufosinate & salts
New Delhi has placed restrictions on Glufosinate and its salts imports for six months. This herbicide, crucial for agriculture, will face curbs if its combined cost, insurance, freight, and anti-dumping duty fall below Rs 1,154 per kilogram. Some imports will require government registration. India's agricultural chemical imports reached $1.65 billion in FY25, with China being a major supplier.
India gets first Iranian oil in 7 years, ship tracking data shows
Indian ports have received two large crude carriers loaded with Iranian oil. This marks the first purchase from Iran in seven years, enabled by a temporary US waiver. The waiver expires soon. Indian Oil Corp and Reliance Industries are among the refiners taking advantage of this opportunity.
Edible oil imports in March rise 12% to 11.73 lakh tonne: SEA
India's edible oil imports saw a 12 percent jump in March. This increase was driven by more crude palm oil shipments. However, future imports may decrease. Global prices are high. Freight costs are also elevated. This situation impacts India's edible oil supply. The Solvent Extractors' Association of India provided this data.
Can Trump’s Iran blockade plunge India into an 'everything crisis'?
India has so far managed the oil shock from the Iran war through policy buffers, diversified crude sourcing and intervention by the Reserve Bank of India, keeping inflation and supply chains stable. However, the proposed US naval blockade of Iranian ports by Donald Trump risks escalating the situation and disrupting energy flows through the Strait of Hormuz, potentially driving oil prices higher and prolonging the shock.
India's March palm oil imports fall 19% to three-month low
India’s palm oil imports fell nearly 19% month-on-month in March to a three-month low of 689,462 tonnes, as higher global prices prompted refiners to delay purchases, according to the Solvent Extractors' Association of India.
Gas sale at 40% discount: Why is Russia selling LNG at deep discounts and how it may provide a sigh of relief for India?
Russia is attempting to sell natural gas from its sanctioned facilities to South Asian nations. These offers come at a significant discount through intermediary firms. Sellers are reportedly willing to provide documentation to disguise the origin of the gas. This comes as global gas supplies face disruptions, forcing countries like Bangladesh and India to seek alternative, more expensive sources.
Israel-Iran war: India rapeseed sales shift to private traders as war lifts edible oil prices
Indian farmers are selling rapeseed to private traders. Market prices are higher than government rates. This is due to a rally in edible oil prices linked to the Iran war. Higher rapeseed oil supplies are limiting edible oil imports. This trend is easing reliance on costly palm oil, soy oil, and sunflower oil imports.
Government rules out sugar export curbs and maintains duties on edible oils
India will not reduce sugar exports. Production is lower than anticipated, but domestic consumption has also decreased. This situation offsets the reduced output. The government has no plans to cut import duties on edible oils. Sugar exports are expected to continue. Domestic consumption is projected to decline further.
India’s sugar and edible oil demand dips as restaurant gas shortages bite
India's restaurants face a severe cooking gas shortage. This is forcing many to reduce operations during peak summer and wedding seasons. Consequently, consumption of sugar and edible oils is falling. This situation could lead to lower imports of key commodities like palm oil, soyoil, and sunflower oil.
Refined sunflower oil volumes may fall 10% this fiscal on Middle East disruption: Report
Refined sunflower oil sales in India are projected to drop by 10 percent this fiscal year. This decline stems from Middle East conflict-related supply chain issues and increasing prices. Consumers are expected to shift to cheaper alternatives like rice bran and soybean oils. Despite lower sales volume, revenues are anticipated to remain stable.
India's March palm oil imports fall to 3-month low as prices surge
March brought a sharp turn for India's edible oil import scene, with palm oil imports witnessing a striking 19% decrease, marking a three-month low. This shift is tied to the climbing global prices of tropical oils. Soyoil imports saw a minor dip as well, contrasting with the increased influx of sunflower oil.
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