India To Get Over 65% Of Abu Dhabi’s Crude Barrels In Mangalore Storage

India To Get Over 65% Of Abu Dhabi’s Crude Barrels In Mangalore Storage

India will have the right over 65 per cent of 6 million barrels of crude oil that Abu Dhabi National Oil Company (ADNOC) will store at the country’s maiden strategic storage at Mangalore. ADNOC will send three large ships carrying crude oil beginning April to fill half of the 1.5 million tonnes strategic oil reserves that India has built at Mangalore, a senior government official said. Out of […]

India’s Monthly Oil Import Bill Growth At A Year-high

India’s Monthly Oil Import Bill Growth At A Year-high

The recent massive rise in global crude oil prices has now started inflating the oil import bill for India that meets 80 per cent of its crude requirement through inbound shipments. January’s oil import cost ballooned by a whopping 46 per cent to land at $9.6 billion as against $6.6 billion in the same month last year — the highest monthly increase in the past year.

India-Iran To Discuss Farzad-B Gas Field, Chabahar During Rouhani’s Visit

India-Iran To Discuss Farzad-B Gas Field, Chabahar During Rouhani’s Visit

Iranian President Hassan Rouhani will be on a three-day visit to India from Thursday. Bilateral talks are likely to focus on the progress on the Chabahar port of Iran that New Delhi is helping to develop, bilateral trade — particularly the issue of Indian investment in Iran’s Farzad-B gas field and oil imports, and mutual regional security concerns.

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