Tuesday, 9 August, 2022
TopicCrude oil

Topic: crude oil

US consulate wants Russian ships barred from Mumbai coast. Shipping ministry asks MEA to weigh in

India’s ongoing trade with Russia, especially imports of crude oil, has been a sore spot with US for months. US Consulate General wrote to Mumbai Port Authority a fortnight ago.

Destination India, China — Russia’s crude flow to Asian buyers hover near unprecedented levels

As the EU slapped 6th round of sanctions on Russia, almost 860,000 barrels a day of crude were loaded onto tankers at Russian terminals last week, before heading to destinations in Asia.

2 options & a win-win — high crude prices can spell windfall gains of Rs 80,000 cr+ for govt

Windfall gains of Rs 84,400 crore-86,000 crore from higher crude prices could help the government bridge a shortfall that may occur in meeting its fiscal deficit target for 2022-23.

Saudi to provide less crude oil to China while meeting most Asian requests

Japan, South Korea, Thailand and India will get the oil volumes they had sought, with some even getting extra supplies, according to refinery officials.

Lured by discounts, India in talks to double down on oil imports from Russia’s Rosneft

State processors are collectively working on finalizing and securing new six-month supply contracts for Russian crude to India, eager to take more of the heavily-discounted stocks.

US may ease sanctions on Venezuelan oil, direct cargoes to itself and Europe

Following an oil supply crunch and historic inflation, the easing of penalties may allow California-based energy corporation Chevron to negotiate resuming operations in Venezuela.

Oil advances ahead of OPEC+ meet after surging on EU’s Russian oil ban

The EU plans to ban Russian oil over the next six months and refined fuels by the end of the year, to increase pressure on Vladimir Putin over his invasion of Ukraine.

‘Won’t be easy, but have to work on it,’ EU proposes ban on Russian oil

As part of its sixth package of sanctions, the EU will also de-swift 3 Russian banks, and ban 3 state broadcasters.

US says ready to support India in diversifying its energy imports

White House Press Secretary Jen Psaki also reiterated US' desire that New Delhi does not purchase oil from Russia amid American sanctions on Moscow for invading Ukraine.

India shouldn’t fall for Putin’s rupees-for-rubles deal despite tempting discount on oil

Such pacts are often short-lived and lack the deep liquidity provided primarily by the dollar. Moreover, India doesn't get much in return for this accommodation and has much to lose.

On Camera

YourTurn

Opposition leaders protest outside Parliament | Representative image | ANI

Confused, aimless—why Opposition parties live up to Ronen Sen’s ‘headless chicken’ remark

From ‘compromising national security’ to 'playing havoc' with institutions, the Opposition continues to attack Modi while failing to reflect on own actions.
A suspension pylon in Tamil Nadu | Commons

You thought power subsidy is a Delhi-Punjab problem? Check out Tamil Nadu’s power sector mess

RBI data shows Indian discoms owe power generation firms over Rs 4.5 lakh crore, almost a third of which is owed by Tamil Nadu, where power subsidy cost is twice that of food subsidy.

Defence

Women Army officers outside the Supreme Court in New Delhi on 17 February 2020 ( representational image) | Photo: Suraj Singh Bisht | ThePrint

First batch of 19 women cadets join NDA, set to begin training this week

The cadets will train for three years at NDA, Khadakwasla for the 148th course. The Supreme Court last year paved the way for women to take the NDA test for the first time.

In Kashmir 3 years on, 3 positive changes, 3 things that should’ve happened & 3 that got worse

Kashmir as a crisis has fallen off our headlines and from the top of our collective minds. Which is precisely the most important change for the better.
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