Increased domestic demand results in a 15% increase in India’s net oil import bill

According to the most recent data from the petroleum ministry, India’s net oil and gas import bill increased by almost 15% year over year for the first seven months of the current fiscal year (FY25). This increase was mostly due to higher import volumes of crude oil, liquefied natural gas (LNG), and petroleum products amid

India Plans Refiners’ Joint Oil Deals to Cut Import Bill

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world’s third-largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of it