Page 15 - Crude Oil

India taking up discounted Russian oil offer not violation of sanctions: WH

India taking up Russia's offer of discounted crude oil would not be a violation of American sanctions, the White House has said

India considers buying discounted Russian oil, commodities: Report

India is considering taking up a Russian offer to buy its crude oil and other commodities at discounted prices with payment via a rupee-rouble transaction, two Indian officials said

Russia can resolve issues with selling its oil, says Deputy PM Novak

Russian firms have encountered problems in securing financing for April contracts to sell crude and oil products, but the situation can be resolved, Deputy Prime Minister Alexander Novak said

Spike in crude oil prices takes away the gloss from paint companies' shares

Margins could be badly impacted, while weak demand across segments could disrupt top lines

Crude oil eases on Iran deal prospects after nearing $120 a barrel

Despite the market turmoil, the Organization of Petroleum Exporting Countries and its allies are sitting on the sidelines

Russia-Ukraine crisis: Cairn Oil & Gas bats for parity pricing on crude

Domestic crude sales to refineries are subject to central sales tax/value-added tax while the same is not applicable on imported crude

Ukraine crisis: India Inc faces dip in margins as crude oil prices spike

The numbers suggest an across-the-board impact, including banks and financials, and oil and gas companies.

India's refinery throughput stays firm with strong recovery in sight

Crude oil throughput in January was however down 0.5% year-on-year to 5.13 mn barrels per day (21.71 mn tonnes), govt data showed.

India's crude oil production drops 2.4% in January to 2,511 TMT

India's crude oil production fell to 2,511.66 thousand metric tonnes (TMT) in January 2022, which is 2.40 per cent lower than the output registered during the same month last year and 6.04 per cent lower than the official target for the month, the government data showed on Wednesday.Cumulative crude oil production during the April-January period of the current financial year stood at 24890.07 TMT, which is 2.61 per cent lower than the output registered during the corresponding period of 2020-21, according to data released by the Ministry of Petroleum & Natural Gas.The cumulative output for the April-January 2021-22 is 4.63 per cent lower than the official target for the period.Crude oil production by ONGC (Oil and Natural Gas Corporation) in the nomination block during January 2022 was 1662.79 TMT, which is 3.68 per cent lower than the target of the month and 3.09 per cent lower when compared with production of January 2021.Cumulative crude oil production by ONGC during ...

Ukraine crisis: Crude oil surge a challenge to financial stability, says FM

Brent crude prices shot up to $99.1/barrel from $96/barrel on Monday after the Russia-Ukraine crisis deepened, but it fell to $97.86

Rajasthan: Cairn Vedanta makes oil discovery in OALP block in Barmer dist

Vedanta group firm Cairn Oil & Gas on Monday announced an oil discovery in a Barmer district block of Rajasthan, not very far away from its prolific oilfield in the same desert. In a stock exchange filing, the firm said it has notified the government and the Directorate General of Hydrocarbons (DGH) of the discovery in exploratory well WM-Basal DD Fan-1 drilled in OALP Block RJ-ONHP-2017/1. The discovery has been named 'Durga'. The firm said the approval of the block oversight panel, called the Management Committee, has also been sought. The block is one of the 41 areas that the company had won in the first round of the open acreage licensing policy (OALP) bid round in October 2018. Cairn Oil & Gas, a unit of Mumbai-listed Vedanta Ltd, holds 100 per cent participating interest in the block. "Durga-1 (earlier WM-Basal DD Fan-1) is the second well drilled in the Block RJ-ONHP-2017/1 to a depth of 2615 meters," the firm said. This is the third hydrocarbon discovery notified by ...

Saudi's crude oil production exceeds 10 million bpd in Dec; exports dip

Exports fell slightly to 6.937 million bpd from 6.949 million bpd in November, according to monthly figures provided by Saudi Arabia and other oil-exporting countries to JODI

What does soaring crude oil price mean for the Indian economy?

Geopolitical tension in Eastern Europe has led to a jump in crude oil price, which is over $90 per barrel now. Some fear that it may touch the $100. What does it mean for the economy in India?

Oil prices remain steady after big drop in US crude inventories

Brent crude futures gained 49 cents, or 0.5%, to $91.27 a barrel by 1:41 p.m. EST (1841 GMT). U.S. West Texas Intermediate crude fell 1 cent to $89.35 a barrel

Statsguru: Six charts show recurring worries over rising crude oil

The share of OPEC in global oil production has been falling in recent times

Crude oil tests $95 per barrel; Saudi Arabia increases oil prices

Other Asian grades jumped by between 40 and 70 cents a barrel. US prices were increased by 30 cents

Oil dips from seven-year high as Russia tensions offset Fed tightening

Prices had surged on Wednesday, with Brent climbing above $90 a barrel for the first time in seven years amid tensions between Russia and the West.

Oil prices can hit $125 a barrel if Russia-Ukraine crisis worsens: Analysts

Though analysts believe diplomatic efforts will continue leading to a stabilisation and an eventual easing of these tensions, it may take several months for this to happen

India's high foreign exchange reserves not enough to shield rupee

A sharp rise in oil import bill has led to a big decline in forex reserves to imports in FY22

Oil breaks $90/bbl for the first time since 2014 on Russia tensions

U.S. Secretary of State Tony Blinken said the United States will make sure global energy supplies are not interrupted if Russia takes action