India's imports from Iran rose to 250,200 barrels per day
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
Inputs by the Petroleum Ministry were found among stolen documents.
"We will be guided by our national interest," he said.
US sanctions against Iran kick in from November 4, which will block payment routes. Sources said India and Iran are discussing reverting to rupee trade after November 4.
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
They were shut when PSUs were selling heavily subsidised fuel; will reopen now, buoyed by diesel decontrol
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Iran has complained of irregular shipments
Fernandes wanted Coca-Cola Company to not just transfer 60 per cent of the shares of its Indian firm but also the formula for its concentrate to Indian shareholders.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Forest land measuring 1838.79 hectares in Odisha has been diverted for 15 industrial projects in the state between 2004 and 2013.
Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
At least half a dozen national and international oil giants, including Reliance and Royal Dutch Shell, joined the race, on Friday, for acquiring government's 34 per cent stake in Hindustan Petroleum Corporation Ltd.
One of the major advantages of buying Iran crude is the additional credit period of 90 days that the country gives to India, compared to 30 days by other countries.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
The National Commodity and Derivatives Exchange Ltd plans to rope in oil companies like Indian Oil Corporation and Reliance Industries Ltd to boost Brent crude futures trading on the bourse.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
India has been eyeing deeper energy ties with Iran and has already lined up $20 billion as investment in oil and gas as well as in petrochemical and fertiliser sectors there.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
'There exists a 'brotherhood' of sorts for a very long time and corrupt dealers and corrupt OMC officials are in it together,' Ashwani Attrish, founder, Empowering Petroleum Dealers Foundation, tells Sudhir Bisht, a veteran of the petroleum industry.
Govt plans to stop RIL from selling crude to Jamnagar refinery.
India has challenged in a Singapore court a verdict of an international arbitration tribunal that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, sources said on Thursday. An international arbitration court had on September 25 rejected tax authorities' demand for Rs 22,100 crore in back taxes and penalties relating to the British telecom giant's 2007 acquisition of an Indian operator. Two sources privy to the development said India had 90 days to file an appeal against the tribunal award, and the same was done in a Singapore court earlier this week.
India-Vietnam relationship has its own imperatives and dynamism. In India's look east policy Vietnam has been the major pivot, at least in terms of security and strategic imperatives, says Rup Narayan Das.
India Gas Solutions Pvt Ltd -- the equal joint venture between the Mukesh Ambani-led firm and Europe's second largest oil firm - is among the three companies shortlisted by Gujarat government for giving out 25 per cent stake in the Mundra terminal.
At present, there is no direct air connectivity between India and Myanmar.
The government may be waiting for the outcome of an arbitration initiated against its levy of Rs 10,247 crore retrospective tax on UK's Cairn Energy Plc before deciding on appealing against losing a tax case against Vodafone Group, sources said. An international arbitral tribunal is expected to give a decree within next few days on Cairn Energy Plc's challenge to the Indian government seeking Rs 10,247 crore in retrospective taxes. If the arbitration award in the Cairn cases goes against India, the government has to pay the British firm over Rs 7,600 crore to reverse the dividend and tax refund it had ceased and shares it sold to recover part of the tax demand.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
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