The United States on 23 Feb imposed sanctions to mark the second anniversary of Russia’s invasion of Ukraine and retaliate for the death of opposition leader Alexei Navalny.
Move could pay dividends to Indian refiners, who have capacity to refine heavy crude from Venezuela. India consistently bought crude from Latin American country before sanctions.
Petrol and diesel rates have not been lowered in India since May 2022 even though international oil prices are down 25% from June 2022 peak. Analysts believe ‘politics is at play’.
By Nidhi Verma NEW DELHI (Reuters) - India's July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2
It marks a major departure from well-established oil majors such as BP & Shell and top trading houses like Vitol & Glencore that handled Russian crude & oil products for decades.
Fatih Birol said that, since India has abundant renewable energy capacity, the country should not miss the opportunity to become a superpower in the green hydrogen business.
Last July, govt imposed the windfall tax on these items after private refiners wanted to make gains from robust refining margins in overseas markets, instead of selling it cheap at home.
The federal government also raised export tax on diesel to 7.5 rupees per litre from 5 rupees, while raising the windfall tax on ATF to 4.5 rupees per litre from 1.5 rupees.
The cap will allow non-EU countries to continue importing Russian oil, but will prohibit companies from handling cargoes of it around the globe, unless it is sold for less than $60.
Even as India, Pakistan have seemed on the edge of war, their intelligence services have often sought to find space to de-escalate tensions and reduce risks for the two countries.
Speaking at 2nd Investor Connect, CM Vishnu Deo Sai says 'we have been able to attract a lot of investors.' The focus of the event was the steel sector.
In largest overhaul of military command in 5 decades, Field Marshal Asim Munir set to assume post of Chief of Defence Forces tomorrow, as Army claims primacy in Pakistan armed forces.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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