As of now, tankers carry petroleum products from India to Nepal as part of an arrangement which is in place since 1973.
Truck drivers protesting against a provision in the new penal law on hit-and-run road accidents, called off their strike in Nashik district of Maharashtra on Tuesday after the local authorities assured to look into their demands.
The pipeline will enable Moscow to enter markets in Asia- Pacific region and reduce dependency on European customers.
A Dornier aircraft of the Coast Guard, which flew over the area on Wednesday morning, found a 'thin oil sheen only 300 metres wide.
About 2,000 petrol pumps, mostly in western and northern India, have run out of fuel stocks as the strike by some truckers' associations entered the second day on Tuesday.
Tehran plans to lift exports by 500,000 barrels per day
The tankers carrying fuel from terminals to dealer outlets would not just have global positioning system (GPS) tracking but also an electronic key (e-key).
Top losers in the Sensex pack included IndusInd Bank, Bharti Airtel, Tata Motors, Axis Bank, Kotak Bank, Bajaj Auto, Yes Bank, HCL Tech, HUL and Hero MotoCorp, falling up to 4.36 per cent.
Minister of State for Shipping Pon Radhakrishnan said the vessel had more than 32,000 tonne of oil and has been emptied.
India is building its oil reserves in underground rock caverns and tanks
Prices are sustainable and not just driven by speculative gains
RIL is keen on buying Cairn India's Rajasthan crude oil but said it cannot take the oil unless the pipeline from fields to Gujarat coast is built.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
When oil prices collapse from $110 to $45, economic agents in India experience a large income windfall.
Chief Minister Shivraj Singh Chouhan apprised Prime Minister Narendra Modi, Defence Minister Rajnath Singh and Home Minister Amit Shah about the fire and sought assistance for dousing it, an official said.
"We will be guided by our national interest," he said.
Italy has criticised India's handling of the case of two of its marines accused of killing two Indian fisherman as "contradictory" and "disconcerting" ahead of a hearing of the case in India's Supreme Court.
The high court directed the central government counsel to file a statement in response to the plea and listed the matter for hearing after two weeks.
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.
India is the world's fourth-largest importer of natural gas, accounting for six per cent of the global market.
The Italian government will see if one of the two marines accused of killing two Indian fishermen in 2012 is fit enough to return to India, Foreign Minister Paolo Gentiloni has said.
Italian Premier Matteo Renzi on Monday spoke to his Indian counterpart Narendra Modi and sought a "rapid and positive solution" in the case of the two Italian marines being held in India for allegedly shooting to death two Indian fishermen in 2012.
India's Iran imports rise to 276,800 bpd vs 195,600 bpd in 2013.
India plans to further cut imports from Iran by 13 per cent next fiscal even though easing of US and western sanctions has made buying crude oil from the Persian Gulf nation easier.
'China's economy continues to slow and the US Fed may still hike rates before the end of the year.'
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
"Italy is willing to try the marines at home, but in the meantime we ask for their freedom," said Interior Minister Angelino Alfano was quoted as saying by ANSA news agency.
Italian President Giorgio Napolitano has said the trial of two marines in India over the killing of two Indian fishermen has run into new "difficulty" because of upcoming general elections in that country.
India has asked refiners that owe about $6.5 billion to Iran for oil imports to build up dollar and euro balances to avoid downward pressure on the rupee if six world powers and Tehran reach a final nuclear deal.
India accused the two Italian marines on board the MV Enrica Lexie, an Italian flagged oil tanker, of shooting dead two Indian fishermen off the Kerala coast on February 15, 2012.
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.
'The coronavirus impact is much bigger than what the market had predicted. We are helpless and simply watching the market at present. Nothing can be done,' said Anil Devli, chief executive officer (CEO) of Indian National Shipowners' Association (INSA).
The top court termed the Rs 10 crore compensation paid by the Republic of Italy over and above the payment already made as "reasonable and adequate".
Soaring output has left the world awash with cheap crude as supply exceeds demand by 1 million to 2 million barrels per day
India's imports from Iran rose to 250,200 barrels per day
"10 minutes before the strike I stopped it, not proportionate to shooting down an unmanned drone".
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
The Central government on Friday told the Supreme Court that it has deposited with the top court Rs 10 crore paid by the republic of Italy as compensation to the families of the two Kerala fishermen who were shot dead in 2012 by two Italian marines aboard the MV Enrica Lexie ship -- an Italian flagged oil tanker -- in lieu of closure of criminal cases against the two navy personnel in India.
Italy has regretted that the case of two of its marines accused of killing two Indian fishermen should have been resolved in the first three days of the incident, before the issue became enmeshed in India's "deadly judicial and political-electoral gears".
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