Oil
- World
Iran to sell oil, gas in local currency rather US dollars
Iran is likely to begin selling oil and gas in rials instead of US dollars, following the Russian example, which will most likely be bound to gold. The Iranian move would be…
- Middle East
Iraq’s oil export revenue hits monthly high since 1972: Ministry
Baghdad: Iraq exported more than 100.56 million barrels of crude oil in March, bringing in revenues of $11.07 billion, the highest monthly revenue since 1972, the Iraqi oil ministry has said. The average…
- Business
Jet fuel prices hiked, air fares to rise
New Delhi: High crude oil prices led India’s OMCs to hike aviation turbine fuel (ATF) price on Friday. Accordingly, in the national capital, the price of jet fuel was raised to Rs…
- India
India can play mediator’s role between Moscow and Kyiv: Russian FM Lavrov
New Delhi: Russian Foreign Minister Sergey Lavrov on Friday said that India can mediate between Moscow and Kyiv as the peace talks between the two counties failed to come up with solutions…
- World
US to release million barrels of oil per day from strategic reserve for 6 months to tame gas prices
Washington: The US will release 1 million barrels of oil per day from its strategic petroleum reserve for the next six months, President Joe Biden has announced, as he tried to keep…
- India
Recounting India’s upstream oil, gas journey
New Delhi: The immediate impact for India from Russia’s war on Ukraine will be inflation as the country imports nearly 80 per cent of its crude oil needs and the first indication…
- Business
ATF price hiked by over 18%, steepest rise ever
New Delhi: High crude oil prices on Wednesday led OMCs to hike aviation turbine fuel (ATF) price by over 18 percent to more than Rs 1 lakh per kilolitre, the steepest hike…
- India
India taking up Russian discounted oil offer will not violate US sanctions on Moscow: White House
Washington: India taking up Russia’s offer of discounted crude oil would not be a violation of American sanctions on Moscow, the White House has said, as it also underlined that countries should…
- World
Biden announces ban on Russian oil and gas imports
Washington: President Joe Biden on Tuesday announced that the US would ban the import of Russian oil and gas, “targeting the main artery of Russia’s economy” in response to its invasion of…
- Business
Shell defends decision to purchase Russian crude oil
New Delhi: Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine, BBC reported. The oil giant said in a statement that the decision to…
- Automobile
EV pioneer Elon Musk now says world needs more oil & gas
New Delhi: Tesla CEO Elon Musk, who started the electric vehicle (EV) revolution to save the climate, on Saturday asked the world governments to increase oil and gas production. Referring to the…
- Business
10-year High: Ukraine crisis pushes crude price close to $120 a barrel
New Delhi: Continuing hostilities between Russia and Ukraine pushed crude oil price to a 10-year high of $119.84 per barrel on Thursday. The global hike in crude oil prices led by the…
- Business
Crude at $111: Domestic petrol, diesel prices to sky rocket
New Delhi: The Russia-Ukraine crisis-led global hike in crude oil prices is expected to push India’s domestic prices of petrol and diesel by Rs 20-22 per litre. However, an excise duty cut…
- Business
Oil on the Boil: Brent races to $105 amid Russia-Ukraine hostilities
New Delhi: Brent-indexed crude oil prices climbed to $105 a barrel on Thursday after Russian President Vladimir Putin announced a military operation in Ukraine. This is the first time since 2014 that…
- Business
BPCL shares sink over 3% amid rising global crude oil prices
New Delhi: Shares of BPCL have fallen over 3 percent on Tuesday and around 8-10 percent since the start of the calendar year 2022. Much of the decline was evidently because of…
