India saves Rs 5,000 crores by strategically filling its Crude Oil reserves

India saves Rs 5,000 crores by strategically filling its Crude Oil reserves

New Delhi: – India filled up its ‘Strategic Oil Storages’, in April, taking advantage of the low crude oil rates, on the international level. Union Petroleum Minister Dharmendra Pradhan informed that India saved nearly Rs 5,000 crores in these transactions. He was answering a question in the Rajya Sabha.   In January, the crude oil rates […]

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India exploits the fall in crude oil price, all the storages in the country filled up to the brim  

India exploits the fall in crude oil price, all the storages in the country filled up to the brim  

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 […]

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Government of India planning to fulfil Strategic Stock requirements, taking advantage of the falling oil prices

Government of India planning to fulfil Strategic Stock requirements, taking advantage of the falling oil prices

New Delhi: The crude oil rates are crashing in the international markets. The crude oil rates have plummeted by nearly 40% in the last week, resulting in a slide of USD 30 per barrel. As per experts, the sliding oil prices in the international markets become an opportunity for a country like India, who imports […]

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Crude oil drops below $47 as agreement between OPEC and Russia falls through

Crude oil drops below $47 as agreement between OPEC and Russia falls through

Vienna: The agreement between OPEC, the main organisation of the oil-producing countries, and Russia, regarding oil production cut, has fallen through. This caused the international oil rates to tumble and they slid to below $47 per barrel level. A leading analyst and advisory company, from the oil sector, warned that if OPEC members do not […]

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Global economy takes a major hit due to Coronavirus, oil, stock markets crash, gold rates increase

Global economy takes a major hit due to Coronavirus, oil, stock markets crash, gold rates increase

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 […]

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Fuel rates slide along with the stock markets under fears of the Wuhan virus epidemic, gold rates predicted to cross USD 1,600 per ounce

Fuel rates slide along with the stock markets under fears of the Wuhan virus epidemic, gold rates predicted to cross USD 1,600 per ounce

London/Washington/Beijing: The global economy is being hit because of the outbreak of the Wuhan virus, which is spreading rapidly in China and the other countries. The investor concerns are increasing with the increasing number of patients infected with Wuhan virus in China, and in effect, the US, European and Asian markets have crashed. Following the […]

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