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India Oil Import
Says divestment should be at a better price, EGoM to take up the issue on Thursday
India said oil-cartel OPEC needs to address anomalies in the crude price differential for different regions.
 "India asks OPEC to correct anomalies in crude price for different regions")
India began importing crude oil from the US in 2017 as it looked to diversify its import basket beyond the OPEC nations
 "India's import of US oil jumps 10-fold to 250,000 bpd: US Energy Secretary")
The government is focusing on increased use of bio-fuels and raising domestic crude oil and gas production to reduce imports
 "India on track to achieve 10% cut in crude oil import by 2022: Pradhan")
OPEC nations led by Iraq and Saudi Arabia supply more than 80% of India's oil needs
 "India asks OPEC not to cut oil production; seeks better commercial terms")
India, which imports over 80% of its oil needs, spent $87.7 billion on importing 220.43 million tonne of crude oil in 2017-18. For 2018-19, the imports are pegged at almost 227 MT
 "India's oil import bill 'likely to jump by $26 bn' due to record rupee fall")
The Trump administration's position is that no exemptions will be permitted, says a US State Department official
 "'Go to zero': US pushes India, China and allies to halt Iran oil imports")
Iran has offered to increase a discount on freight prices to Indian state refiners to double its sales to the companies, which control about one-third of India's refining capacity
 "How India plans to seek better bargains with global oil producers")