PM Modi went to New York this time not to engage in polemics, but to find solutions to global problems. He made some progress on several matters, even on reform of the UN Security Council, when the US made a major concession for the first time that six permanent members without veto, including India, could be considered
The Tirupati Laddu row intensified on Friday with the Tirumala Tirupati Devasthanams (TTD), which is managing the super-rich temple, backing Chief Minister N Chandra Babu Naidu's claim that the famous 'prasadam' had animal fat and Yuvajana Sramika Rythu Congress Party president Y S Jagan Mohan Reddy dubbing the accusations as 'atrocious'.
It's the sovereign right of the Organization of Petroleum Exporting Countries to decide on the oil production capacities, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said Friday. Refraining from commenting on the controversial decision of OPEC on cutting oil production by two million barrels a day, which has taken the world by surprise, Puri said it is likely to be scrutinized very carefully. During an interaction with a group of Indian reporters, he said that India as one of the major consumers of oil and gas also has a major say in the global oil market.
Ahead of a meeting of oil producers' cartel OPEC, India on Tuesday said the current oil prices are "very challenging" and rates need to be a "little bit sober" lest they impact a consumption-led recovery of the global economy. Oil Minister Dharmendra Pradhan, who last week again urged OPEC to phase out its production cuts, said India is a price-sensitive market and it will buy oil wherever it gets competitive rates. The rebound in international oil prices from lows hit last month on the back of demand recovery has led to a spike in petrol and diesel retail prices in India.
From the time he first rose to prominence during the movement against the then UPA government, Arvind Kejriwal has regularly grabbed headlines for his surprise moves and decisions. Here are 10 such instances.
Sree Annapoorna Sree Gowri Shankar is a familiar name across the country. With over 1,500 employees, it is renowned for its filter coffee and Keerai Vada throughout Tamil Nadu. Its operating revenues range from Rs 100 crore to Rs 500 crore.
Energy supermajor Exxon Mobil Corp is in talks to buy a stake in producing oil and gas fields in India, Oil Minister Dharmendra Pradhan said on Wednesday showcasing efforts to raise domestic output to cut imports. Exxon Mobil had in October last year signed a memorandum of understanding (MoU) with state-owned Oil and Natural Gas Corporation (ONGC) to offer its expertise and technology for developing resources in offshore blocks.
Gold, silver and other precious metals along with imported mobile phones, certain cancer drugs and medical devices are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2024-25.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
The Oil Ministry has been trying since July to get an Empowered Committee of Secretaries to vet the separate price proposals of RIL and Essar but the panel has so far not decided to take up the issue.
India's policy to subsidise retail prices of fuels such as diesel, which accounts for about 40 per cent of refined fuel consumption, is a major drain on the budget.
Indian Oil Corporation (IOC) and two other public sector oil firms will install 22,000 electric vehicle (EV) charging stations over the next 3-5 years to support the nation's target to reduce its carbon intensity and reach net zero emissions by 2070. IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, chairman Shrikant Madhav Vaidya said. Bharat Petroleum Corporation Ltd (BPCL) said it will set up 7,000 stations over the next five years while Hindustan Petroleum Corporation Ltd (HPCL) has plans for 5,000 stations.
India is back on the diplomatic table pushing oil producing countries to raise production in a bid to cool down runaway oil prices. Brent crude oil prices traded above $90 a barrel, on Thursday, for the first time since 2014. Brent is the most popular marker for crude oil trade. It is used as a benchmark for two-thirds of the world's internationally traded crude oil.
India imported 13.2 million tonnes of crude oil from Nigeira in 2009-10.
'Given our turbulent neighbourhood, the prime minister is likely to emphasise on democratic dividend as the reason behind India's continuous prosperity.'
India has asked oil cartel Organization of the Petroleum Exporting Countries to raise crude oil production to stem the relentless rise in international oil prices that have threatened to derail import dependent economies such as India.
The Oil Ministry, which had been sitting on the proposal for over a year, wrote to the Directorate General of Hydrocarbons earlier this week saying that it has been decided to permit exploration in already producing oil and gas fields, sources privy to the development said.
India, the world's fourth-biggest oil consumer, recently offered Saudi Aramco a stake in refineries and petrochemical projects.
Iraq threatened on Thursday to blacklist Reliance Industries Limited from future oil contracts after the company struck a deal with the Kurdish Regional government for two blocks without Baghdad's approval. Reliance Industries Limited had last week signed the contract for the blocks Rovi and Sarta in northern Iraq with the autonomous Kurdish Regional Government. The blocks, measuring 517 and 607 sq km respectively, have almost 80 per cent oil bearing structure.
State-owned ONGC and Oil India Ltd (OIL) are likely to buy a 10 per cent stake in Indian Oil Corp (IOC) from the government at Rs 220 per share, aggregating about Rs 5,300 crore (Rs 53 billion).
Iraq has invited Indian Oil Corporation, the country's largest oil refiner, to set up refineries in the war-torn country, and also participate in other downstream projects, a government statement said.
A day after killing of Hezbollah chief Hassan Nasrallah in an airstrike in Beirut, Israel conducted widespread strikes in Lebanon on Sunday, killing over 100 people. The Israeli Air Force (IAF) also launched airstrikes on military targets in Yemen, specifically targeting Houthi-controlled sites, including power plants and a seaport.
Oil prices could reach $100 per barrel if there were "dramatic" developments in the Gulf or elsewhere, a leading oil official has said.
'Slogans like 'Ek hai toh safe hai' and 'Batenge toh katenge' resonated with voters.'
This Muri Ghonto recipe has its origins in former East Bengal, present-day Bangladesh.
The Israel Defence Forces (IDF) intensified its campaign in Lebanon with targeted airstrikes on Hezbollah strongholds in Beirut, hitting key weapons depots and terror infrastructure overnight, according to a report by Times of Israel.
TDP spokesperson Anam Venkata Ramana Reddy in a press conference claimed that the adulteration has been confirmed by a Gujarat-based livestock laboratory, on the ghee samples provided by the Tirumala Tirupati Devasthanams, which manages the famous Sri Venkateswara Swamy temple.
Oil Minister M Veerappa Moily on Friday said petroleum ministers are "threatened" by import lobbies not to take decisions that will cut India's $160 billion oil imports.
'Are we to believe that coordinated moves by the Canadian and US authorities are no longer taking place?', asks Ambassador M K Bhadrakumar.
Oil consumers and producers united yesterday to warn that extreme price volatility was dangerous for the world economy, but disagreed on what an appropriate price should be.
India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
An Indian crew member of a Comoros-flagged oil tanker that capsized off the Oman coast has died, officials said on Thursday.
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With Oil Ministry continuing to be opposed to selling IOC shares on stock market like other disinvestments, an Empowered Group of Ministers headed by Finance Minister P Chidambaram today decided to sell 24.27 crore shares or 10 per cent government stake in the company to Oil and Natural Gas Corporation and Oil India Ltd.
Harrowing scenes unfolded at the SEZ where the fire ripped through the pharma company. Injured workers with torn clothes and bleeding injuries were seen being shifted to hospitals in ambulances.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
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