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.
As other nations restrict imports because of the war in Ukraine, India and China have snapped up millions of barrels from Russia to take advantage of hefty discounts on the flows.
India’s diesel exports in March were highest since April 2020 when it hit 847,000 barrels a day, according to Jane Xie, a senior oil analyst at data and analytics firm Kpler in Singapore.
As many as 4 import duty cuts were effected with respect to three edible oils between June and September, following a sharp rise in prices over the preceding months.
Javad Zarif’s India trip comes amid tensions between Tehran and Washington over the killing of senior Iranian commander Qassem Soleimani in a US drone strike.
India buys more than two-thirds of its oil, mostly from the Middle East, which means if crude prices stay up, RBI may not be able to deliver more than 25 basis points of cuts.
While an open tender has been issued for procurement of the optical instruments, Bengaluru-based firm Tonbo Imaging, whose services the Army has previously used, is a frontrunner.
What is Shiv Sena’s ideology? We might say it’s been a convenient mix of extreme ethnic chauvinism & unforgiving Hindutva. Within the second, the party retained space to manoeuvre.