Categories: BUSINESS

Share of Russian crude in India’s oil imports falls to lowest since November 2022; Middle East supplies rise

India has significantly reduced its reliance on Russian crude oil, with January imports hitting their lowest point since late 2022. This shift sees Middle Eastern suppliers, particularly Saudi Arabia, regaining prominence as India diversifies its energy sources. The move aligns with international pressures and India’s commitment to strategic autonomy.
Sumitra

Recent Posts

India moves to block imports linked to forced labour amid USTR probe

India is inserting a new clause into its foreign trade policy. This clause will allow…

15 hours ago

US eases Russia sanctions bill, cuts tariff threat on India and China from 500% to 100%

US senators unveiled a revised Russia sanctions bill targeting major energy buyers. This legislation seeks…

15 hours ago

Renewable energy boost: Aditya Birla Group to buy Shell-backed Sprng Energy; deal worth $1.8 billion

The acquisition will bring nearly 5 gigawatt-peak (GWp) of contracted renewable energy capacity into ABRen's…

2 days ago

Donald Trump announces 20% toll on ships in Strait of Hormuz; to ‘reinstate’ Iran blockade

Trump's announcement comes after another major exchange of fire cast fresh uncertainty over efforts to…

2 days ago

Oil companies plan expanding 10-kg LPG cylinder sales

State-run oil companies are considering expanding lightweight 10-kg LPG cylinders for commercial use. These cylinders…

3 days ago

Four top-10 firms add Rs 93,000 crore in mcap despite weak market; HDFC Bank, Airtel lead gains

Four of India's top ten companies added significant market value last week. HDFC Bank and…

3 days ago