India shipped in about 1.6 million barrels per day (bpd) of Russian oil in 2022/23, the data showed, about 23% of its overall 4.65 million bpd imports.
Announcement by oil-producing cartel Sunday sent global markets into flux, with crude prices surging high. Experts say India will only feel effects in medium to long term.
Organization of Petroleum Exporting Countries and their allies, including Russia, shook markets by announcing output cuts of about 1.16 million barrels/day on Sunday.
With its fleet of hurriedly assembled tankers, Moscow is likely to defy EU oil sanctions. Moreover, eased US sanctions on Venezuelan crude to help New Delhi meet energy demand.
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.
Basrah Medium & Heavy crude, Iraq's main exported grades, face a threat in international markets as major buyers, India & China prefer discounted Russian crude oil after Ukraine invasion.
The EU plans to ban Russian oil over the next six months and refined fuels by the end of the year, to increase pressure on Vladimir Putin over his invasion of Ukraine.
Sanctions on energy imports from Russia could have complicated effects on oil & gas supply chains globally, and in Europe, living standards and economic activity could be impacted.
Whether it is due to the alleged unofficial ban on The Bengal Files or allegations by Gopal Mukherjee’s family against Agnihotri, everyone in the state wants to know more about Mukherjee.
New Delhi: On 4 September morning, apple growers in south Kashmir’s Pulwama woke up to knee-deep water in their orchards, ripe apples scattered all over,...
New Delhi: Army chief General Upendra Dwivedi has strongly backed the idea of theaterisation, saying it is inevitable and the need of the hour.
Speaking...
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
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