India's net oil import bill could rise by $56 billion to $64 billion annually assuming global crude averages $110 to $115 per barrel in FY27.
Under the proposal, if a foreign carrier does not operate flights to a particular Indian airport for 'four consecutive IATA seasons', the regulator may suspend that airport authorisation.
Ukrainian drones attacked the Kirishi oil refinery in Russia's northwest, one of the country's largest, sparking a fire when debris fell from a shot-down drone, Russian officials said on Sunday, France 24 reported.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
More than 1,000 soccer fans cheered, chanted and hugged each other as they attended a Belarusian top-flight league match on Sunday despite calls from a growing number of supporters to boycott games due to the coronavirus pandemic. Belarus is the only country in Europe still playing a national soccer league, making it an unlikely draw for fans overseas who are starved of matches in their own countries.
India, the world's third largest oil importing and consuming nation, is likely to save as much as Rs 1.8 lakh crore on import of crude oil and LNG if the trend of softening international energy rates continues, Icra said Wednesday. India, which meets over 85 per cent of its crude oil needs through imports, spent $242.4 billion on buying crude from overseas in the fiscal year ended March 31, 2025.
The world is weird and we have the images to prove it!
India's women's hockey team failed to replicate the inspiring show they produced against Ireland in their opening match and were trounced 3-0 by Great Britain in their second Pool B outing at the Rio Olympics on Monday night.
The infamous nuclear accident devastated the lives of millions of people in Western Russia, Belarus and the Ukraine. The radioactive fallout spread over tens of thousands of square miles, driving more than a quarter of a million people permanently from their homes. It remains the world's worst nuclear disaster to date.
Here's your weekly digest of photographs that prove that it's a odd, crazy world out there!
The Belgians finished first in pool A and hence will be teamed against India.
The Indian women's hockey team suffered a 1-6 humiliation from Australia in their third outing at the Rio Olympics on Wednesday.
Five images from last week's action in Europe for you to savour.
Argentina beat Belgium 4-2 to claim the Olympic title and win their country's first Games medal in men's hockey, edging a close-fought match between two teams few expected to make the final.
A nervy India squandered a one-goal advantage as they allowed Canada to stage a fightback with a late strike and earn a 2-2 draw in their final men's hockey pool game of the Rio Olympics Games.
While recalling the order, the bench agreed to the contention of the law officer that there was a "breach of principle of natural justice" as the government department was not accorded the hearing.
As there won't be another total lunar eclipse until 2021, here are some of the images from around the world.
Here are eight images that prove we live in a odd, odd world.
Higher discounts on crude oil offered by the United Arab Emirates (UAE) to wean India away from Russian crude may soon see Indian refiners ramping up purchases from the Gulf nation, officials at multiple refiners said. They also pointed to the recent agreement on trade settlement in national currencies signed between India and the UAE as a reason for this. "While discussions are underway, the UAE has offered discounts on crude, which will be more than that of the current level of Russian discounts.
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
India's crude oil production fell 2.15 per cent in October as state-owned firms produced less but, natural gas output rose by a quarter on the back of output from KG-D6 fields of Reliance-BP, government data released on Tuesday showed. Crude oil production dropped to 2.51 million tonnes in October, as output from fields operated by Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) dipped. While ONGC produced 4 per cent less crude oil at 1.64 million tonnes, OIL output dropped 1.46 per cent to 2,53,000 tonnes.
There is no payment problem for Russian crude, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Wednesday. He said there is no proposal to cut retail fuel prices at the moment. Addressing a press conference, the minister said India enjoys a buyers' position and foreign suppliers are approaching Indian companies with offers to sell oil.
These 10 images prove we live in a wonderfully weird world.
India's import of discounted crude oil from the Russian Federation hit an all-time high in May, with state-run refiner IOC becoming the biggest importer of Russian oil, relegating Reliance Industries to the second place, trade and shipping data show. Indian imports of Russian oil, accounting for over 46 per cent of its total crude oil imports in May, have grown after strong backing by New Delhi, with state-run refiners powering imports of discounted crude. Discounts on Russian oil average around $10 a barrel, said an official from a state-run refiner. IOC's May purchases rose by 64 per cent on the month, and accounted for half of its total crude imports last month, ship tracking data show.
Ten images that prove it's a wonderfully bizarre world.
Rediff.com gives you a peek into these action-packed moments from the weekend, frozen in time...
The next 10 images prove we live in a wonderfully, weird world!
From lights to colourful markets, the world is all lit up to celebrate the holiday cheer! Here are images from around the world.
These 12 images that prove we live in a wonderfully weird world!
Check out India's report card on the fifth day of the 2016 Olympics.
'Putin dreams about his legacy. He wants to forcibly restore the Russian empire.' 'Unfortunately, after three years of large-scale war with massive human losses, Putin will not budge from his goal because human life is the cheapest resource in the Russian State.'
India wasted as many as five penalty-corners seconds from the final hooter and went down 1-2 to reigning silver medallists the Netherlands in the Rio Olympics' hockey tournament on Thursday. The defeat saw the eight-time Olympic gold medallists slump to their second defeat in the competition.
India was the world's biggest importer of Russian oil in February, exceeding China by 20 million barrels.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
Notwithstanding the robust turnaround in the financial performance for the June quarter (Q1FY24), stocks of state-run oil marketing companies have been in a downtrend in the last month. The fall comes on a rise in crude oil prices that have surged to a 7-month high of $88 a barrel. A busy political calendar in the months ahead that may see the government keep a lid on auto fuel prices is also a dampener, analysts said. Shares of Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) have shed 9-11 per cent since their respective earnings announcement between July 26 to August 4.
India wasted as many as five penalty corners seconds from the final hooter to go down 1-2 against Netherlands but still sealed a quarter-final spot at Rio Olympics hockey competition in Rio de Janeiro, on Thursday.
These photos prove we live in a bizarre world.
Notwithstanding the windfall tax placing a cap on profits, oil and gas producers like Oil India (OIL) and Oil and Natural Gas Corporation (ONGC) have done well in the October-December quarter (third quarter, or Q3) of 2022-23 (FY23). ONGC faces the drag of poor results from its subsidiary Hindustan Petroleum Corporation, and in comparative terms, OIL is better off. Standalone net sales in Q3FY23 stood at Rs 5,900 crore - up 57 per cent year-on-year (YoY), up 2 per cent quarter-on-quarter (QoQ).
The past week saw a lot of brilliance in sports. It started with Juventus and Barcelona lighting up the Champions League with their inspiring football and, later in the week, Mercedes' Nico Rosberg stoked the F1 circuit in Spain, capping a brilliant win to cut teammate Lewis Hamilton's lead to 20 points. Rediff.com has this, and many more memorable moments snapped right here.
A special United Nations envoy to Crimea, who was threatened by 10 to 15 armed men, is safe and will return to Ukrainian capital Kiev to continue his mission, the United Nations has said.
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