Dubai: – For the first time since 2014, the Crude oil rates in the international market could scale three figures. Christyan Malek, an analyst at the renowned US financial institution, JPMorgan Chase, claimed that the crude oil rates would cross the $100 per barrel mark by the turn of the year. Five days ago, another […]
Read More »
New Delhi: Senior Indian officials have said that India will start importing oil from Iran once the United States withdraws sanctions imposed against Iran. Indirect talks are being held between the United States and Iran over the controversial Iranian nuclear program. During the negotiations, US state department spokesman, Ned Price, had said that the United […]
Read More »
New Delhi: – India has made preparations to teach a lesson to the countries, increasing oil prices by keeping the production low, despite the rising demand. Accordingly, India has reduced oil purchase from Saudi by 25%. The Indian government has ordered the oil companies not to depend entirely on Saudi for the oil but search […]
Read More »
New Delhi: The Union Government has permitted Abu Dhabi National Oil Company (ADNOC) to export the crude oil stored in the Mangaluru Strategic Oil Reserves. The government has made the policy flexible for the purpose. Although the first right on the oil will be of India in an emergency, ADNOC will be allowed to export […]
Read More »
New Delhi: There is a massive decline in the prices of crude oil internationally. Hence, India sought the opportunity and filled up the oil refineries at the fullest. Now, India is looking forward to storing crude oil in the US, informed the Petroleum Minister, Dharmendra Pradhan. He told about this proposal to the media, which […]
Read More »
New Delhi: – India has fully exploited the fall in the oil prices in the international market. The Indian oil companies have filled up their storages completely. Dharmendra Pradhan, Minister of Petroleum, has informed that the oil has been stored in the storage tanks, pipelines and even in oil tankers. Pradhan said that the quantity […]
Read More »
Riyadh/Moscow: – There has been a strong reaction from OPEC after Russia refused to cut oil production and instead announced to increase it. Main members of OPEC, Saudi Arabia and the United Arab Emirates (UAE) announced an increase in oil production. Saudi will be producing 13 million barrels of oil and UAE has announced a […]
Read More »
New Delhi: The worldwide demand for oil has drastically reduced since the Coronavirus went on a rampage around the world. This has pulled the oil rates down. Countries like India, who import 80% of its oil requirement, can benefit in a big way because of this. Media are claiming that the dispute between OPEK countries […]
Read More »
London/New York: It is evident on the international level that the intensity of the Coronavirus epidemic, which has locked down China, the second largest economy of the world, is increasing by the day. While there is a steady rise in the number of deaths and people infected, the negative impact is apparent in the global […]
Read More »
Moscow: Russian Finance Minister Anton Siluanov claimed that Russia could maintain its economic progress on the strength of its gold reserves, despite any slump in the oil prices, on the international level. Russia has a gold reserve of more than 2200 tonnes valued at USD 108 billion. At the same time, Russia has added to […]
Read More »
