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 began importing crude oil from the US in 2017 as it looked to diversify its import basket beyond the OPEC nations

The government is focusing on increased use of bio-fuels and raising domestic crude oil and gas production to reduce imports

OPEC nations led by Iraq and Saudi Arabia supply more than 80% of India's oil needs

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

The Trump administration's position is that no exemptions will be permitted, says a US State Department official

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