Fuel supplies in many parts of the country were affected on the second day of the indefinite strike by oil PSU executives that also resulted in refineries running below capacity and impacted oil and gas production.
He is currently on a two-day swing to the crucial State of Iowa. On January 15, Iowa would kick off the 2024 Republican presidential primary season.
Indian state-run oil giants HPCL and BPCL reported on Wednesday no supply disruptions as result of a two-day-old strike by workers opposing privatisation of the refiners.
The Centre on Sunday moved the Delhi High Court seeking recall of its order directing supply of entire allocated oxygen of 490 metric tonnes (MT) to the national capital and warning of contempt action for failure to do so.
Reliance from 0600 hours today began complying with an oil ministry order asking it to first supply gas produced from eastern offshore KG-D6 fields to priority users -- urea making fertiliser plants, electricity generation houses, LPG extraction units and city gas distribution firms.
Global supply is staying in excess of demand.
India on Thursday called for developing an Asian oil market and putting in place longer supply contracts to provide stability and security of supplies to major consuming countries.
Oil sank to the lowest level in a month after shedding all of its gains from the US-Iran clash as traders waited to see whether any further hostilities will disrupt exports from the East Asia.
A day after Election Commission rap, Oil Minister M Veerappa Moily on Wednesday said the government has not yet taken any decision on raising cap on supply of subsidised LPG cylinders and the EC would have been informed before announcing any decision.
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
At $12-bn valuation, this will be India's largest FDI; deal to be announced on Saturday, says Dev Chatterjee.
Last June, the group had delisted Essar Energy from the London Stock Exchange as well.
"President of Sri Lanka Gotabaya Rajapaksa is still in the country, I made a mistake in the (BBC) interview," Speaker Abeywardena told ANI in a telephone call.
A six-inch pipe has been laid at the Silkyara tunnel through which nutritious food and medicines could be supplied to the 41 labourers, trapped for over a week after parts of the under-construction structure collapsed following a landslide.
China consumed roughly 10.50 million barrels per day of oil in June.
India will join hands with Paris-based International Energy Agency to counter artificial price volatility in the international oil market and create buffers for supply disruptions.
'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
The prime minister said India favoured creation of a buffer to meet any eventuality arising out of tensions in West Asia that could lead to prolonged supply shortages.
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
Moscow-based OAO Rosneft Chairman Igor Ivanovich Sechin said the agreement was to ship by sea as much as 10 million tons of oil per year to Essar Group.
Officials from India's biggest private refiner recently visited Iran to chalk out the details for resumption of trade ties with Tehran.
The share of slow-moving orders in the overall order book of Larsen & Toubro (L&T) is at a multi-year low. This has led to a renewed focus on fast-moving orders. A mix of factors such as commodity price fluctuations, robust order inflow and strong sectoral demand have put capital goods order book in the fast lane, analysts and company executives said. L&T, with its large presence in the capital goods sector, is often seen as the bellwether for trends in this space.
The BJP lost 15 of the 80 Lok Sabha seats in 2019. Union ministers have been deployed in all 15, tasked with turning the result around.
'Due to rural stress, volumes continue to remain an issue for the industry, and we are yet to see any revival in demand.'
During a meeting with Putin in Samarkand, Modi had told the Russian leader that "today's era is not of war".
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
'Many countries believe that if they join BRICS, they will be seen as emerging countries and their stature will be enhanced.' 'G-20 still has common action plans while BRICS does not do that much.'
Russian traders have started asking for payments in ruble for their exports to India in a move that could derail trade between the two countries which gathered pace after the war in Europe. This is because Indian importers are unable to pay in ruble. The India-Russia trade gathered pace after Vladimir Putin invaded Ukraine in February this year. In the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent year on year.
While OPEC has been unable to agree on an output freeze in an effort to support prices, Iraq was the latest Middle East producer to raise its exports quota
Faced with soaring demand, stagnant output at home and a need to diversify from Iranian crude imports lost to Western sanctions, Indian oil companies are hungry for deals like Oil and Natural Gas Corporation's ( ONGC's) Kashagan buy that promise supplies sooner rather than later.
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Oil fell below $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month selloff as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand.
Prime Minister Narendra Modi on Tuesday underlined the need for not promoting any restrictions on the supply of energy and called for ensuring stability while once again emphasising on resolving the Ukraine conflict through diplomacy.
Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014, the head of refineries at Hindustan Petroleum said. Iran has also sweetened the deal to expand its dwindling market share by offering free shipment and a nominal discount to Indian refiners, sources said last week.
The drop in oil to around $50 a barrel this year has triggered steep cutbacks in production of US shale oil
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