Savings on oil will help in funding social security schemes: FM

Last Updated: Friday, August 28, 2015, 22:29

India, which imports close to 80 percent of its oil needs, spent about USD 124 billion in 2014-15 on shipping oil.

'India's oil imports dependence may hit 90% in next 2 decades'

Last Updated: Friday, August 28, 2015, 18:00

India imports 79 percent of its oil needs, and spent USD 138.3 billion on the same.

India's oil imports from Iran jump in April: Trade

Last Updated: Thursday, April 30, 2015, 16:27

India shipped in more than 17 percent more Iranian oil in April than a year before, buoyed by prospects of a diplomatic deal on Iran`s disputed nuclear programme by end-June, preliminary data from trade sources and compiled by Thomson Reuters Oil Analytics showed.

Govt allocates Rs 4,948 cr for filling strategic oil reserves

Last Updated: Tuesday, March 31, 2015, 22:27

Taking advantage of lower oil prices, the government on Tuesday allocated Rs 4,948 crore to full India's maiden strategic oil reserves to insulate itself from supply disruptions.

Make India energy sufficient, cut imports: PM

Last Updated: Friday, March 27, 2015, 15:02

Modi said plans are afoot to provide piped gas connection to 1 crore households in the next four years from 27 lakh presently.

Modi says India should try to cut oil imports by 10% by 2022

Last Updated: Friday, March 27, 2015, 12:21

Prime Minister Narendra Modi said on Friday India should try to cut oil imports by 10 percent in 2022 from 77 percent now.

India to import 8 million barrels of oil from Iraq: Source

Last Updated: Wednesday, March 18, 2015, 21:23

India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR), taking advantage of cheap prices and lending some support to a market suffering from oversupply.

India slashes Iran oil imports in January trade

Last Updated: Thursday, February 12, 2015, 19:43

India slashed imports of Iranian oil in January as New Delhi scrambled to bring its purchases from the OPEC member in line with 2013 levels, according to data obtained from trade sources and ship tracking data on the Thomson Reuters terminal.

Iran-India officials discuss oil trade issues

Last Updated: Tuesday, December 10, 2013, 18:44

Weeks after a historic accord eased restrictions on Iran, a high level Iranian delegation Tuesday discussed with Finance Ministry officials the payment mechanism and shipping arrangements for increased oil trade.

Moily walks the talk: takes Metro to office to save fuel

Last Updated: Wednesday, October 9, 2013, 13:36

Leading by example, Oil Minister M Veerappa Moily today took the metro to office as part of his drive to promote fuel conservation and help cut India's massive oil import bill.

India aims to cut Iran oil imports by 15%: Oil secretary

Last Updated: Tuesday, October 1, 2013, 17:47

India aims to cut Iranian crude imports by 15 percent this fiscal year, the oil secretary said on Tuesday, differing from the oil minister who recently said he wanted to hold the shipments at last year's levels.

OilMin unveils mega fuel conservation drive to cut import bill

Last Updated: Tuesday, September 24, 2013, 19:34

Staggered office timings for government employees to decongest traffic and staffers taking public transport to workplace once a week are part of a mega fuel conservation drive unveiled by Oil Minister M Veerappa Moily on Tuesday to save USD 5 billion in oil imports.