The disruption in the Hormuz Strait has sharply reduced India’s intake of Gulf crude. This March, Gulf supplies—usually half of India’s crude imports—dropped from 2.6–2.7 mbpd to 1.2–1.3 mbpd.
From Baltic ports to Gujarat shores, Russian crude travels 7,000 nautical miles through ship-to-ship transfers, and in some cases, price cap loopholes, experts say
New Delhi is examining the legal implications of the latest set of American investigations into Indian exports under Section 301(b) of the Trade Act of 1974, it is learnt.
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.
Nearly 50% of India’s crude imports are exposed to the chokepoint. So far this year, India has imported an average of 2.6 million barrels per day (mbpd) from Gulf countries.
As discounted Russian barrels increasingly flow to China, Indian refiners lift more from Saudi Arabia, Iraq and the UAE, while also eyeing Venezuelan cargoes to diversify risk.
Indian refiners are testing Venezuelan barrels again as Russian supply sinks, but analysts say volumes will remain limited due to refinery constraints & supply capacity.
As social media debated whether audiences were consuming Pujarini Pradhan as a symbol, The Juggernaut turned her into a story that could circulate globally, with or without her participation.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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