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trade deficit: India's trade deficit jumps 74.69% YoY to $6.32 billion in May: Govt data

India is thus a net importer in May 2021 with a trade deficit of USD 6.32 billion, increase of 74.69% over trade deficit USD 3.62 billion in May 2020 and reduction by 62.49% over trade deficit USD 16.84 billion in May 2019. ....

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Africa's share in India's oil imports hits 7-month high: Report

Africa s share in India s oil imports hits 7-month high: Report
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Africa s share in India s oil imports hits 7-month high: Report
Reuters / Updated: Jun 1, 2021, 17:02 IST
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The share of African oil in India s crude imports rose to 16.3% in April. (Representative image)
NEW DELHI: Africa s share in India s oil imports surged to a seven-month high in April as refiners boosted purchases from small regional players such as Ghana and Congo on better economics and less competition from China, data obtained from sources showed.
The share of African oil in India s crude imports rose to 16.3% in April, the data showed.
Overall, India s oil imports in April declined 3.7% from the previous month as state-run Hindustan Petroleum Corp did not receive oil for its Mumbai refinery, which was fully shut for revamp. ....

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Petrol price today: Petrol, diesel prices rise again after 18 days of no change

Synopsis
For diesel, Delhi pump prices went up by 18 paise to Rs 80.91 a litre. In Mumbai in rose by 17 paise to Rs 87.98, in Chennai by 15 paise to Rs 85.90 and in Kolkata by 17 paise to Rs 83.78.
Fuel prices hiked after 18-days of unchanged rates
Fuel prices in India were hiked on Tuesday after 18 consecutive days of no price revision.
In Delhi, petrol prices rose by 15 paise to Rs 90.55 a litre. In Mumbai, prices went up by 12 paise to Rs 96.95, in Chennai by 12 paise to Rs 92.55 a litre, and in Kolkata by 14 paise to Rs 90.76.
For diesel, Delhi pump prices went up by 18 paise to Rs 80.91 a litre. In Mumbai it rose by 17 paise to Rs 87.98, in Chennai by 15 paise to Rs 85.90 and in Kolkata by 17 paise to Rs 83.78. ....

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Indian refiners deepen cuts to Saudi oil purchases in May

Indian refiners deepen cuts to Saudi oil purchases in May
Indian refiners deepen cuts to Saudi oil purchases in May
Energy relations between India, the world s third-biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked.
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Indian refiners normally buy 14.8 million barrels of Saudi oil in a month. (Photo: Reuters)
Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week.
Energy relations between India, the world s third-biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked. ....

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India shows its clout to the world with its secret oil 'weapon'

India shows its clout to the world with its secret oil weapon
When the Organisation of Oil Exporting Countries and Major Producers (OPEC+) extended the production cuts into April, India unsheathed that weapon
Reuters | April 2, 2021 | Updated 14:01 IST
When India s government last month asked refiners to speed up diversification and reduce dependence on the Middle East - days after OPEC+ said it would maintain production cuts - it sent a message about its clout and foreshadowed changes to the world s energy maps.
It was a move that had been in the works for years, fuelled by repeated comments from Indian Oil Minister Dharmendra Pradhan, who in 2015 called oil purchases a weapon for his country. ....

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