Petrol and diesel prices across several Indian cities remained largely unchanged for the fourth day in a row on Wednesday, 18 March, continuing the recent trend of stability in retail fuel rates. Steady pricing for petrol and diesel is holding in India, even as global oil markets see volatility, driven by geopolitical tensions in the…
Seyed Abbas Araghchi on Saturday criticized the United States for its changing position on Russian oil, saying that Washington is now “begging” countries worldwide — including India — to buy Russian crude, despite previously pressuring them to halt such imports. In a post on The Iranian foreign minister also criticized European countries for backing an…
Pakistan stock market: The latest conflict in the Middle East, which is showing no signs of abating and keeping the crude oil prices elevated, is wreaking havoc in the Pakistan stock market, driving the worst intraday declines for its benchmark indices — KSE 30 index during this month. The KSE 30 index crashed as much…
New Delhi, Mar 6 (PTI) – Indian refiners have begun buying some of the over 15 million barrels of Russian crude currently floating on tankers near the country, as they move to offset supply concerns arising from disruptions in the Middle East. Sources said refiners stepped up purchases after the US Treasury Department issued a…
The escalating confrontation between the United States and Iran has created major geopolitical and economic challenges for India, which has deep strategic, energy and diaspora ties across West Asia, currently under turbulence. The US and Israel jointly launched strikes on Iran on February 28 following failed nuclear talks. The strikes killed Supreme Leader Ayatollah Ali…
India currently has around 100 million barrels of commercial crude oil secured. This oil is not all stored in one place. Some of it is kept in large storage tanks, some in underground strategic reserves, while the rest is already loaded on ships voyaging towards the country. This becomes important if oil flows through the…
US-Iran war: As geopolitical tensions escalate in resource-rich regions like Iran, Vedanta Chairman Anil Agarwal has issued a sharp warning: India’s heavy dependence on imported natural resources leaves it dangerously exposed to global shocks. In a post on With oil, gas and gold forming a significant share of the country’s import bill, he stressed that…
Maersk, the container shipping giant, said on Sunday that it was suspending sailings through the narrow Strait of Hormuz in the Gulf, next to Iran, citing “safety” reasons amid the US-Iran standoff. The announcement came after Iran’s Revolutionary Guards declared the strait closed, and maritime agencies reported attacks on vessels in the area, news agency…
A senior US lawmaker on Wednesday (local time) urged Donald Trump to dial down his tariff policy towards India, accusing the US President of singling out “our ally”. Democratic Congressman Brad Sherman from California, in a post on social media platform X, suggested that Trump just needed an excuse to slap tariffs on India, and…
OVL, the overseas arm of Oil and Natural Gas Corporation (ONGC), has held a 40% stake in the San Cristobal Project in Venezuela since 2008, with the country’s state-owned oil company Petróleos de Venezuela SA (PDVSA) owning the remaining 60%. A PDVSA team is currently in India to discuss the long-pending issue. The outcome of…
