Page 14 - Crude Oil

India in a divided world: Keeping old friendships and cultivating new ones

The question for India, as a middle or swing power with long-term external dependencies for energy and military hardware, is how to not let old friendships come in the way of new ones, notes T N Ninan

OPEC sticks to modest boost in oil despite war jitters

OPEC and allied oil producers including Russia decided to stick to a modest increase in the amount of crude, a step that supports higher prices

US does not want 'rapid acceleration' in Indian energy imports from Russia

India has bought at least 13 million barrels of Russian crude oil since the country invaded Ukraine in late February

Oil prices rebound on tight supply, prospects of new Russia sanctions

US West Texas Intermediate (WTI) crude futures rose $2.72, or 2.6%, to $106.96 a barrel, erasing a 1.6% drop on Tuesday

Rupee skids 21 paise to 75.94 against dollar as crude oil prices spike

The local unit finally settled at 75.94 against the dollar, down 21 paise from the previous close

Oil prices rise on tight supplies, stable demand

United Arab Emirates energy minister Suhail al-Mazrouei said on Tuesday that the mission of OPEC+ was to stabilise markets and come up with as much supply as possible

Russian foreign minister Sergei Lavrov may visit India within a week

It would be the highest-level visit from Russia to India after Moscow launched its military offensive against Ukraine on February 24

Top headlines: PVR, Inox shares surge; strike hits services across India

Business Standard brings you the top headlines on Monday

Oil prices rebound after reports of fire at Saudi Aramco facility

A huge plume of black smoke was seen rising in Jeddah where oil giant Aramco has several oil facilities, witnesses said on Friday

Oil slips with some concerns easing over Kazakhstan's CPC terminal supplies

With global stockpiles at their lowest since 2014, analysts said the market remained vulnerable to any supply shock

Rs 11,276 crore loss due to less water injection by ONGC, says CAG

CAG said the shortfall in water injection is one of the significant reasons for less production of crude oil

India's Feb crude oil imports hit four month-low as global prices surge

India is the world's third-biggest oil importer and consumer, and covers over 80% of its crude oil needs with imports, relying heavily on the Middle East

Sensex rebounds 1,059 pts from day's low, ends 697 pts up; RIL leaps 2.5%

CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers

Crude oil import from Russia miniscule, says Oil Min Hardeep Singh Puri

Oil minister Hardeep Singh Puri on Monday allayed fears of short supply of crude oil amid the Russia-Ukraine conflict and said that crude oil imports from Russia are miniscule at just 0.2 per cent of total such imports till January this fiscal. "About the increased oil import concerns...we require total of five million barrels per day. Sixty per cent of it comes from Gulf. We have imported from Russia, just 0.419 million metric tonnes...that is 0.2 per cent of total requirement (during April-January this fiscal)," Puri said in the Rajya Sabha while replying to a supplementary to a starred question. "We are monitoring the situation. As far as oil imports are concerned from Russia, contrary to what played up in media, it is miniscule," the minister said. According to the written reply tabled in the House, in financial year 2020-21, India imported 85 per cent of its crude oil requirements and 54 per cent of its natural gas requirement. According to Petroleum Planning & Analysis Cell .

No need to hit panic button as oil prices may not impact govt's finances

Analysts have spelt out bleak scenarios for India's finances and growth, assuming strong crude prices

India's Feb oil imports at highest since Dec 2020 as refiners boost runs

India's crude imports rose in February to 4.86 million (bpd), their highest since December 2020, preliminary data from trade sources showed, as refiners cranked up runs to meet increasing demand

IOC buys Russian crude at steep discount

Indian Oil Corporation (IOC), the nation's top oil firm, has bought as much as 3 million barrels of crude oil that Russia had offered at steep discount to prevailing international rates, sources said.

Sensex sprints 1,040 pts, Nifty tops 16,950 ahead of US Fed outcome

CLOSING BELL: Ultratech Cement (up 4.6 per cent) was the top Nifty gainer today. This was followed by Axis Bank, Shree Cement, IndusInd Bank, Bajaj Auto, and Hindalco

Iran raises April crude prices by $2.05 a barrel for Asian buyers: Report

Iran has set official selling price of its Iranian Light grade for its Asian buyers at $4.70 a barrel above the Oman/Dubai average for April, up $2.05 from the previous month, an industry source said

Russian oil deal could place New Delhi on 'wrong side of history': US

The United States on Tuesday said India would not be violating US sanctions by purchasing Russian oil but added that such a move would put the country on 'wrong side of history'