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 […]
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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 […]
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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 […]
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Tehran: There was a major crash reported in the value of Iranian Rial in view of the sanctions imposed by the United States in the last month, the Coronavirus crisis and the slump in the international oil markets. Local sources informed on Saturday that the Iranian Rial was exchanged at the rate of 193,400 Rials […]
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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 […]
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New Delhi: The Coronavirus pandemic has led to the nationwide lockdown. It has, in turn, hit the fuel demand. The month of April saw the demand plummet by 70 per cent. Petroleum Minister Dharmendra Pradhan has, however, expressed confidence that the market will soon return to normal as the sales are increasing gradually. After the […]
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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 […]
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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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Washington/Tehran: The killing of Qassem Soleimani and the subsequent threats exchanged by the United States and Iran have caused the rates of Crude oil and Gold to skyrocket, in the international markets. Crude oil rates jumped by more than 2% recording a rate of $70 per barrel. The Gold rate reached its highest in seven […]
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New Delhi: The effects of the US killing of General Soleimani are becoming apparent on the global economy and puts stress on the Indian economy too. A sharp decline has been recorded in the Indian stock markets and the investors have lost a whopping ₹3.36 trillion. There has been a big rise in the gold […]
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