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Saturday, April 20, 2024
TopicOil Trade

Topic: Oil Trade

At Gulf summit in Riyadh, Chinese President Xi Jingping calls for oil trade in yuan

Xi Jingping's move would support China's goal to establish its currency internationally and weaken the US dollar’s grip on world trade.

India to diversify oil imports after surprise output cuts by OPEC, its allies

Oil minister Hardeep Singh Puri warned that these cuts could tip the world into recession. He also informed that Indian firms have signed new oil supply deals with Colombia and Brazil.

As purchases continue, Modi govt proposes settling trade with Russia in rupees

India has previously used a rupee-ruble mechanism, which has fallen out of favor this time around due to extreme volatility in the Russian currency.

Putin may need to depend more on India, China should EU ban Russian oil

EU leaders agreed to pursue a partial embargo on Russian crude oil shipped on sea, potentially costing Putin up to $10 billion a year in lost export revenue.

Suez Canal blocked as massive cargo ship runs aground in Egypt, causes pileup of 100 vessels

The hull of Ever Given became wedged lengthways across the canal Tuesday, causing a pileup of at least 100 vessels seeking to transit between the Red Sea and Mediterranean.

Oil, Chabahar, ‘violence against Muslims’ — why India-Iran ties are going into free fall

The Iranian establishment has criticised India for ‘organised violence’ against Muslims, and New Delhi has reprimanded the country’s envoy.

Saudi assures India of meeting all oil supply commitments following drone attack

Saudi Oil Minister Prince Abdulaziz bin Salman spoke to Union Minister Dharmendra Pradhan Thursday. The country is India's second-largest oil supplier.

Iran oil sanctions will hurt more than you think

Under Obama, Iran's crude and condensate exports fell by around 1.2 million barrels a day. Under Trump, it seems the decline will be bigger and faster.

The conundrum facing India: Cheap Iran oil or stronger US ties

Ending oil purchase from Iran will cost India heavy bucks, but paring the trade surplus with the U.S will have its diplomatic benefits. 

With Trump’s Iran sanction pressure, India will opt for ‘plan D’ for crude supply

IOC chief says that even if Iran crude supplies get disrupted, Saudi alone can cover up shortfall.

On Camera

Ram temple Surya Tilak was spectacular but the puffery around ‘science behind it’ wasn’t

We need to give credit to our attention-starved scientists for their true achievements. Perhaps a good way to start would be to not mix science with religion.

CBDT signs record 125 Advance Pricing Agreements, 31% more than last year

The 125 APAs include 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs). The total number of APAs since the start of the APA programme has risen to 641, with 506 UAPAs and 135 BAPAs.

Vice Admiral Dinesh Kumar Tripathi to take over as Chief of the Naval Staff

He has been the chief of personnel and the flag officer commanding-in-chief, Western Naval Command, in the rank of vice admiral.

These 6 states are key for Modi’s ‘400 paar’ target. They’re also where Opposition can stop him

While this contest looks so predictable in large swathes of our political landscape, it is also more keenly contested than 2019 in some states.