Prime Minister Narendra Modi Monday warned oil producers like Saudi Arabia that high crude prices are hurting the global economy and sought a review of payment terms to provide a temporary relief to the local currency.
HI: Prime Minister Narendra Modi urged global oil suppliers on Monday to review payment terms in order to give relief to the weak rupee. PM Modi was speaking to oil ministers and chief executives of oil majors
Prime Minister Narendra Modi Monday made a strong pitch for a partnership between oil producers and consumers to help stabilise the global economy. He also appealed to the oil producing countries to channel their investible surplus
The global oil powerhouse Saudi Arabia plans to invest in India in the fuel retail and crude storage segments, country’s oil minister told Prime Minister Narendra Modi on Monday at an event. The Saudi Minister also assured
Prime Minister Narendra Modi has expressed his opinion in the meeting with CEOs and experts from oil and gas sector from India and abroad that oil market is producer driven and both the quantity and prices are determined
Diesel price rose for the 10th consecutive day Monday to wipe out all of the Rs 2.50 per litre cut in rates announced earlier this month through excise duty cut and oil company subsidy.
India’s wholesale price-based inflation rose in September after two months of easing, driven by an increase in cost of fuel. Wholesale inflation in September, measured by the Wholesale Price Index, rose 5.13 percent compared with the same month last year
Ahead of the new wave of anti-Iranian sanctions, bound to come in force in November and impact the Islamic Republic’s oil exports, the Israeli outlet Maco has reported about an alleged secret agreement between Moscow
India has optional volumes of crude oil from Saudi, others to make up for shortfall from Iran: Officials
India had contracted to import about 25 million tonnes of crude oil from Iran in the fiscal year 2018-19 (April 2018 to March 2019), up from 22.6 million tonnes imported in 2017-18.
Indian oil companies like IOC have optional volumes built in their annual crude oil purchase contracts with suppliers like Saudi Arabia and Iraq that will be more than enough to make up for any shortfall in supplies from sanctions-hit Iran, senior officials said Monday.
India hopes to forge partnerships with private players to build out its strategic petroleum reserves within the coming year, the head of Indian Strategic Petroleum Reserves Ltd (ISPRL) said on Monday.