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’.
Fuel prices were first kept static to protect consumers from rise in oil prices, and then for OMCs to recover losses. With OMCs in profit now, daily pricing mechanism can be restored.
India has paid Russia nearly $20 billion for oil in just seven months, more than what it paid in the last ten years combined. It has only reaped higher profits of a few Indian companies.
European Union ban on Russian crude imports from 5 Dec will drive European refiners to buy more Middle East oil, putting them in competition with Asian buyers.
State-run processors — Indian Oil, Bharat Petroleum & Hindustan Petroleum — are 'reaching out' to term-contract suppliers, such as Saudi Arabia & Iraq, for extra barrels, buying on spot market.
Dealers claim OMCs telling them to put up hoardings promoting govt schemes bearing Modi's photo. OMCs deny the charge, say move only to promote schemes
The VFX effects are what you’d expect from a run-of-the-mill video game or a mediocre fantasy show. But a film that supposedly cost thousands of crores? The audience deserves more.
Hormuz crisis is only the latest in a line of geopolitical flashpoints that shaped India’s energy strategy over the years, starting from OPEC oil embargo that followed the Yom Kippur war.
Three-day conflict between India and Pakistan underscored the growing importance of information warfare as a critical domain alongside conventional military operations.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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