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3 mins read
India to lead world in fuel demand growth, consumption to grow by 1.3 million barrels by 2030: IEA
India, the world's third biggest oil importer and consumer, will in the second half of the decade b…
PTI
3 mins read
India's oil import bill could swell to $101-104 billion in FY25: ICRA
As per ICRA's calculations, a $10/barrel uptick in the average crude oil price for this fis…
PTI
1 min read
India's petroleum products demand to increase mid-single-digit percentage in 2023-24: Fitch
India's demand for petroleum products is likely to increase by a mid-single-digit percentage in the…
ANI
1 min read
India is buying the most US oil in almost a year as sanctions on Russian energy bite
Indian refiners see more WTI Midland crude oil being used in the country in coming months, sources …
Yuheng Zhan
4 mins read
Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore
The profit was, however, higher quarter-on-quarter when compared to Rs 17,265 crore in October-…
PTI
2 mins read
Ukrainian attacks on Russian oil refineries may be proving the Biden administration wrong, experts say
Defense Secretary Lloyd Austin said in April that attacking Russian oil refineries risked impacting…
Nathan Rennolds
2 mins read
Russia has never been richer after selling $37 billion in oil to India last year
India purchased $37 billion of Russian oil last year. That's 13 times what it bought before the war…
Jennifer Sor
2 mins read
India's vegetable oils import up 16% in 2022-23 oil year
India's vegetable oils import rose 16% to 167.1 lakh tonnes in the current oil year that ended in O…
PTI
2 mins read
Russia's April oil and gas revenue could double despite Ukraine hammering its oilfields with drones, report says
Reuters projected Russian oil and gas revenue for April to come in at 1.292 trillion rubles, up fro…
Cameron Manley
1 min read
Spiking oil prices helped Russia energy-tax revenue double last month
The amount of tax that Russia collected on oil and gas rose by 90% on a year-over-year basis in Mar…
Filip De Mott
1 min read
Indian refineries are completely refusing oil from a key Russian shipping giant
Indian refineries are rejecting oil cargo carried by Sovcomflot, a Russian tanker firm that's been …
Filip De Mott
1 min read
Half of Russia's sanctioned oil tankers are now standing idle
Of the 50 tankers sanctioned by the US since October, 21 are now idle, no longer trading Russian cr…
Filip De Mott
1 min read
Indian oil refiners are using China's yuan instead of the US dollar to buy Russian crude
In June, Indian Oil was the first state refiner to purchase Russian crude using the yuan, sources t…
Filip De Mott
2 mins read
China and India 'launder' Russian oil and resell it to Western nations that sanctioned Moscow, study says
New research shows the EU has been the largest importer of the laundered Russian oil, and most of i…
Phil Rosen
2 mins read
Godrej's Dorab Mistry shoots off angry letter to Indonesian government over palm oil issue
Days after Indonesia lifted the export ban on palm oil, Godrej International Ltd Dorab Mistry on T…
2 mins read
India's government is getting more uncomfortable buying Russian oil with Chinese yuan, putting payments in limbo
Although Russian firms are continuing to deliver crude supply, seven cargoes have yet to be paid fo…
Filip De Mott
2 mins read
The West is seeking to take back Russia's shadow fleet of oil tankers, sanctions official says
"What we want to do is force volumes back into the G7 fleet," sanctions official Olga Dimitrescu sa…
Filip De Mott
3 mins read
Biscuits, ghee and hair oil to get cheaper after government duty cut — but after three months
The Indian government’s decision to allow duty-free import of crude soybean oil and sunflower oil, …
7 mins read
Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty
India is on track to become the world's third-largest economy by 2027, but Narendra Modi faces a pi…
Theron Mohamed
1 min read
Researchers say that the oil price cap imposed by Western leaders to limit Russia's ability to fund its war against Ukraine didn't exactly work
A team of academics says that Russian oil exporters have been selling oil at above the $60 market c…