Page 6 - Oil And Gas

India may import 15 million barrels of cheap Russian oil

Doesn't violate sanctions but on wrong side of history: US

India's benchmark indices surge on easing global oil prices

A 25 per cent drop in crude prices from recent highs, favourable outcome in state polls and bargain hunting after a sharp drop in the market have propelled the market.

Oil importers India, Thailand to be hit hardest by Ukraine crisis: S&P

Large oil importers like India and Thailand will be the most affected among Asia-Pacific countries by the ongoing Russia-Ukraine war, S&P Global Ratings has said. S&P estimates the Indian economy to grow 7.8 per cent in the next fiscal year beginning April 1, 2022. Besides, the economy is expected to grow 6 per cent and 6.5 per cent in 2023-24 and 2024-25, respectively. It projected inflation at 5.4 per cent in the current fiscal year. It said banks in Asia-Pacific (APAC) region have small direct exposure to Russia which will soften the impact of the conflict, but proximate downside risks -- in particular, actual and potential secondary economic and other risks -- lie ahead. The biggest risk of the Ukraine conflict is market volatility and higher commodity prices; emerging economies with large energy imports are most at risk, S&P said in a report. India relies on overseas purchases to meet about 85 per cent of its oil requirement, making it one of the most vulnerable in ...

ONGC fails to get bids in its tender to sell Russian oil: Report

No Indian company has publicly withdrawn from Russia and New Delhi has declined to condemn Moscow's invasion of Ukraine despite pressure from the United States to do so.

Cairn Oil & Gas to spend $4 billion, aims 3 times production increase

As high prices make investments attractive, firm charts plan for next 3 years

Ukraine crisis: Asian LNG prices slide amid stable European gas flows

Market players remain concerned over the risk of Russian supply disruption amid a tense geopolitical situation following Moscow's invasion of Ukraine

India approaching US over ONGC Videsh taking Venezuelan oil cargoes: CEO

CEO of ONGC Videsh on Sunday confirmed talks between India and the US State Department are underway to allow the company to settle past debts by trading Venezuelan oil cargoes

Selling shares during talks to Panama Papers: The story of Cairn retro tax

Govt last month refunded about Rs 79 bn it collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds to settle 8 yr dispute

Musk seeks immediate boost in oil, gas production to replace Russian output

Tesla Founder Elon Musk called for an immediate increase in oil and gas production around the world because sustainable solutions cannot replace Russian output."Hate to say it, but we need to increase oil & gas output immediately," Musk wrote on Twitter on Friday. "Extraordinary times demand extraordinary measures."Musk added that although increasing oil and gas production would affect Tesla negatively, sustainable energy solutions cannot react instantaneously to make up for Russian oil and gas exports.Earlier in the day, Bloomberg News reported that the Biden administration is considering imposing a ban on imports of Russian crude oil to the United States.US Senators Joe Manchin proposed a bill that would prohibit the import of Russian crude oil, petroleum, petroleum products, liquefied natural gas (LNG) and coal.Meanwhile, US President Joe Biden, in his State of the Union Address on Wednesday, pledged to enable exports of energy from US reserves with the EU working on to curb .

Oil price surge turns India's bonds into most risky in emerging Asia

A selloff in India's bond markets, including its corporate debt, is gathering pace as oil prices extended their rally above $110 a barrel after Russia invaded Ukraine

Amid Ukraine crisis, clouds of uncertainty weigh on OMC stocks

Fall in refining margins and likely sharing of subsidy burden are key overhangs

Russia-Ukraine war: Pleas to stop buying Russian oil and gas go unheeded

Washington and Brussels have carved out loopholes big enough for an oil tanker in their current sanctions policy, allowing the trade to continue.

BP exiting stake in Russian oil, gas company Rosneft over Ukraine invasion

BP said Sunday it is exiting its share in Rosneft, a state-controlled Russian oil and gas company, in reaction to Russia's invasion of Ukraine.

Ukraine conflict: Oil surges on Russia nuclear alert as sanctions intensify

The nuclear alert and bank payment constraints heightened fears that oil supplies from the world's second-largest producer could be disrupted

Economists say higher oil prices pose more risk to India's growth momentum

India, which meets nearly 80% of its oil needs through imports, could be hit by a widening trade deficit, weakening rupee and higher inflation

Iranian prez seeks international resistance to US oil, gas sanctions

Iranian President Ebrahim Raisi has urged the international community to resist US unilateral "cruel sanctions" against other countries' oil and gas industry.

Nigeria files lawsuit against JP Morgan for disputed $1.7 billion oil deal

A London court will on Wednesday begin to hear a lawsuit launched by Nigeria against U.S. bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal.

HSBC sets target of 34% cut to emissions from oil and gas clients by 2030

HSBC aims to cut emissions associated with loans made to its oil and gas clients by 34% by 2030, said bank's sustainability chief.

Centre anticipates fuel demand to grow 5.5% in the next fiscal year

Local demand for gasoline, used mainly in passenger vehicles, is expected to rise by 7.8%, while gasoil consumption was slated grow by about 4%

India bags ten bids for eight oil and gas blocks in latest bid round

Four companies, including 3 state-owned, put in 10 bids for the 8 oil and gas blocks on offer in India's latest round of bidding for exploration acreage, says the Directorate General of Hydrocarbons.