International media looks at the varying views on the diplomatic position India should take with Pakistan trying to act as mediator, and the impact of conflict on state-owned oil companies.
Indian refiners had been importing roughly 1 mbpd of Russian crude in the recent months, and the waiver will effectively allow them to lift volumes above this baseline.
India aims to raise its annual refining capacity to 9 million barrels per day (bpd), Puri said. Oil refining capacity in the country is currently at about 5.2 million bpd.
Migrant workers have fled major cities in recent weeks amid fears of a repeat of last year’s national lockdown that left millions displaced and without jobs.
The slump in diesel demand is forcing refineries to operate below capacity, but gasoline sales are back at pre-virus levels with people resorting to personal vehicles.
The current Iran war has laid bare a fundamental reality: 20 per cent of global energy trade cannot afford to rely on a single artery, no matter how resilient and cost-effective.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
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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