US, EU major importers of India's oil products sourced from sanctioned Russian crude
New Delhi: More than one-third of India's oil product exports to the coalition countries led by the G7 were sourced from Russian crude, according to a European think-tank, media reports said.
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.
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.
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.
France starts direct gas supplies to Germany
Paris: Germany has started receiving gas supplies from French gas network system operator GRTgaz via a connection point in the northeastern commune of Obergailbach, the company said on Thursday.
World Bank cuts down India's FY23 GDP growth forecast to 6.5 pc
New Delhi: Amid fears of a recession in advanced economies, the World Bank on Thursday cut India's gross domestic product (GDP) growth forecast for the financial year 2022-23 to 6.5 percent from its earlier estimate of 7.5 percent.
Russia's fossil fuel export revenue tops its Ukraine war cost
Russia's earnings from oil gas and coal exports in the last six months have covered its expenditure on the Ukraine invasion, according to an analysis from Helsinki-based nonprofit think tank Centre for Research on Energy and Clean Air, reported ET.
Russia to accept rubles and yuan from China for gas imports
Russia's energy giant Gazprom said Tuesday that China will start paying for Russian gas in rubles and yuan instead of US dollars, AFP reported.
Not dollar dependent, Indian importers buy discounted Russian coal with Asian currencies
New Delhi: Amid skyrocketting fuel prices and turbulent global economy triggered by US sanctions on Russia, India is leaning towards discounted Russian coal, which also allows the liberty to pay in currencies other than the US dollars.
Siemens energy plans Russia exit by 3rd qtr of 2022
Moscow: Siemens Energy AG said Monday it began winding down its business in Russia in the third quarter of 2022 and expected to leave the local market in this fiscal year.
India coping better than other countries amid Ukraine-Russia crisis: Amit Shah
New Delhi/IBNS: Union Home Minister Amit Shah on Tuesday said the economic slowdown in India is controlled compared to other nations.
While the European Union (EU) continues to be the biggest consumer of Russian fossil fuels amid the Ukraine war, India upped its imports of Russian crude from 1 percent before the conflict began to 18 percent in May, media reported.
Is Turkey's Rubella virus claim to reject Indian wheat a ploy to control global wheat supply?
Turkey's attempt to malign India's reputation as a wheat supplier fell flat after Israel purchased a 55,000-ton consignment it rejected citing phytosanitary concerns. The grounds for rejection were not only false but apparently cropped from Turkey's covert motive to take control of global wheat supplies amid a soaring demand and a protracted Ukraine-Russia war, according to experts.
LIC board approves reduction in IPO size: Report
New Delhi: The LIC board has approved a reduction in its initial public offering (IPO) issue size from 5 percent to 3.5 percent, media reports said.