June 19, 2024 19:15 (IST)
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With Modi's re-election, Justin Trudeau wants to engage on some 'very serious issues' | Fire breaks out at iconic Hollong Bungalow in Bengal's Jalpaiguri | Portion of under-construction bridge collapses in Bihar's Araria | PM Modi performs Ganga aarti in Varanasi on his first visit since LS polls victory | Mamata Banerjee calls on BJP MP Anant Maharaj in Coochbehar, triggers speculation

Oil prices plunge on deflated US interest rate cut expectations, OPEC+ decision

New York/IBNS: Oil prices plunged on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest United States jobs data that lowered expectations that the Federal Reserve will cut interest rates soon, reports said.

Saudi Arabia to launch Aramco share sale this Sunday to raise $10 bn: Report

Riyadh: Saudi Arabia is set to officially launch a secondary offering of shares in the oil giant Saudi Aramco, to raise over $10 billion, as early as Sunday, according to sources familiar with the matter, reported Bloomberg.

Reliance Industries inks one-year deal with Russia's Rosneft for oil purchase in roubles: Report

Mumbai: Mukesh Ambani-led Reliance Industries, which operates the world's largest refining plant, has signed a one-year agreement with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles, Reuters reported.

Oil prices rise over 1% ahead of inflation data after downbeat week

Houston/IBNS: The prices of crude oil rose over 1 percent in muted trade owing to public holidays in Britain and the United States after a downbeat week characterised by the outlook for US interest rates in the face of sticky inflation, reports said.

Govt asks PSU refiners, RIL to collaborate on negotiating oil-deal with Russia: Report

New Delhi: The government has asked its state-run oil refiners and private company Reliance Industries Ltd. to collaborate on negotiating a long-term supply agreement with Russia, Bloomberg reported.

India plans to set up first privately run strategic petroleum reserve by 2029-30: Report

New Delhi: India intends to set up its first privately operated strategic petroleum reserve (SPR) by 2029-30, allowing the operator the autonomy to trade the entire oil stock, media reports said.

Bharat Petroleum inks deal with BP to buy US crude

New Delhi: Public sector oil refiner Bharat Petroleum Corporation Ltd (BPCL) has inked a deal with BP to purchase 1 million barrels every month of U.S. West Texas Intermediate (WTI) crude for a period of four months, media reported.

Centre increases windfall tax on petroleum crude to Rs 9,800/ton

New Delhi: The Centre on Tuesday increased the windfall tax on petroleum crude from Rs 9,050/ton to Rs 9,800/ton, effective from November 1, a government notification said.

Oil prices reach highest in 10 months

Oil prices surged by more than 1% on Tuesday, reaching the highest levels in 10 months, Reuters reported.

Indian shipping company transporting Russian oil in trouble after certification of over 20 vessels cancelled: Report

Maritime services company Lloyd's Register has informed Gatik Ship Management, a major carrier of Russian oil following the Ukraine war, that it will revoke certification for 21 of its vessels by June 3, according to a statement by the company to Reuters.

Russia remains top crude oil supplier to India in March with 1.64 million bpd

Russia supplied 1.64 million barrel per day (bpd) of crude oil to India, surpassing traditional suppliers such as Saudi Arabia and Iraq, Moneycontrol reported.

India's Feb crude oil imports from Russia hit record high

New Delhi/IBNS: India's crude oil shipments from Russia in February reached an unprecedented 1.6 million barrels per day, surpassing the combined imports from traditional suppliers Iraq and Saudi Arabia.

India's imports from Russia jump 5 times amid Russia-Ukraine conflict

New Delhi: India’s imports from Russia multiplied nearly five times to $ 37.31 billion in the April-January period in FY23 owing to an increase in crude oil import from that country, according to the commerce ministry data.

India's crude oil imports jump by 53 pc during Apr-Nov period, shows latest govt data

New Delhi/IBNS: India’s crude oil import grew by 52.58 percent to $146.57 billion during April-November during FY23, according to data shared by the Ministry of Commerce.

Russia replaces Iraq as the largest oil supplier to India in Nov: Report

New Delhi: Russia for the first time in November replaced Iraq as the top exporter of crude oil to India, media reports said.