Page 3 - Oil

Iraq discounts heavily to muscle out cheaper Russian oil in India

After a dip in market share, suppliers from the West Asian nation are discounting heavily to muscle out cheaper Russian oil

Broking houses cut target price for RIL after disappointing Q1 show

Steepest cuts from Citi and Morgan Stanley; stock sheds 3.33% to end at Rs 2,420

HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

Revenue was up 19.6% YoY and profit up 13.5% YoY, its highest-ever quarterly figures

Focus on windfall tax review leads to oil stocks ending in the green

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

Govt imposes windfall tax on oil producers, raises import duty on gold

To curb gold imports, govt hikes customs duty on the metal to 15% from 10.75%

Edible oil brand Gulab Oils eyes Rs 5,000 crore turnover in four years

Plans to enter ten states from four currently, expand capacity 10-fold to 1,000 tonnes a day and make additions to product portfolio

Humble rice bran becomes hot commodity as India scours for edible oils

Rice bran prices have jumped to 30,000 rupees to 36,000 rupees per tonne compared with paddy prices of around 19,000 rupees, which is milled for rice extraction

Crude takes fresh hit as fear of global slowdown scars commodities

West Texas Intermediate sank towards $104 a barrel after closing at a six-week low on Wednesday

Russian oil tankers get India safety cover via Dubai company: Report

Certification by Indian Register of Shipping provides a final link in paperwork chain needed to keep state-owned Sovcomflot's tanker fleet afloat and delivering Russian crude oil to overseas markets

Noticeable increase in exports of Russian oil to China, India: Putin

Russian oil exports to China and India have noticeably increased and its presence in the BRICS countries is also growing, President Vladimir Putin said

Oil prices rise as tightening supply offsets global economic concerns

Brent crude futures rose 42 cents, or 0.4%, to $113.54 a barrel by 0633 GMT. Front-month prices tumbled 7.3% last week, their first weekly fall in five

China agrees to refinance Pakistan with $2.3-bn funding: FM Ismail

"Inflow is expected shortly after some routine approvals from both sides. This will help shore up our foreign exchange reserves," he added.

India's Russian revolution in oil: Why refiners are buying more Urals crude

Refiners have jumped on to the bandwagon of opportunistic buying of heavily discounted Urals crude, which could, ironically, make the country Europe's refining hub

Has sanctioning Russia worked? Oil, gas sales put $285 bn in Putin's pocket

For years, Russia has acted as a vast commodity supermarket selling what an insatiable world has needed: Not just energy, but wheat, nickel, aluminum and palladium too

India's domestic crude oil production slips to 28-year low in FY22

Production declined every month for last 4-and-a-half years in core sector index; old fields among likely reasons

Oil prices settle up ahead of US driving season, EU embargo decision

"Demand is strong with products leading the way, especially gasoline which dragged crude oil up with it," said John Kilduff, a partner at Again Capital LLC.

Oil, toil and turmoil

India's geological potential remains largely unexplored because of policy hostility and high-handed taxation rather than the lack of expertise

G7 to phase out Russian oil, US sanctions Gazprom bank over Ukraine war

The move represents the latest attempt by the West to put pressure on Russian President Vladimir Putin for his country's invasion of Ukraine and the deadly aftermath that ensued.

Oil prices climb as European Union gets set to ban Russian crude

The European Commission is expected to finalise work on Tuesday on a sixth package of European Union (EU) sanctions against Russia over its actions in Ukraine

India ends FY22 with 2.6% drop in oil production

India's crude oil production fell 2.67 per cent in fiscal year ending March 31, as state-owned ONGC produced less than the target, but natural gas output rose helped by KG production by Reliance-BP