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US stocks drifted close to record levels on Friday, while oil prices fell sharply following a ceasefire in Gaza, easing concerns over Middle East supply disruptions.The S&P 500 inched up 0.2%, coming off just its second loss in the past ten sessions, while the Dow Jones Industrial Average gained 215 points, or 0.5%. The Nasdaq…
Nayara Energy’s refinery has intensified its railway usage, dispatching two to three trains daily. (AI image) Nayara Energy, the Indian refinery with major Russian ownership, is scrambling to sustain operations after being hit by European Union sanctions. The Russian-owned refinery, facing exclusion from many international markets due to severe EU sanctions implemented on July 18,…
The United States on Thursday imposed a new round of sanctions accusing individuals and entities of helping Iran export oil and liquefied petroleum gas (LPG). A release by the US department of the treasury’s office of foreign assets control (OFAC) announced sanctions on over 50 individuals, companies and vessels for their alleged roles.According to an…
MUMBAI: Speaking to the media on Thursday after his meeting with PM Modi in Mumbai, UK PM Keir Starmer confirmed that the issue of India’s purchase of Russian oil amid the Russia-Ukraine conflict was discussed between them. The UK leads the coalition of the willing which has pledged support for Ukraine.When asked a direct question…
In August, the Donald Trump administration announced 50% tariffs on US imports of Indian products. (AI image) India is set to ramp up imports of Russian crude in the coming months at a time when the US has imposed 25% additional tariffs on it for Russian oil trade. Indian refiners plan to increase Russian oil…
Britain’s Prime Minister Keir Starmer, centre right, at Chhatrapati Shivaji Maharaj International Airport in Mumbai (Picture credit: PTI) LONDON: UK Prime Minister Keir Starmer insisted he will not relax visa rules to offer more to Indians just before his flight touched down in Mumbai on Tuesday night in his first major trade mission to India.Accompanied…
NEW DELHI: A shocking case of domestic violence emerged from South Delhi, where a woman allegedly poured boiling oil on her sleeping husband. The couple’s eight-year-old daughter was reportedly present during the attack, and the woman allegedly threatened her husband, warning, “If you shout, I will pour more oil on you.”The trigger of the incident…
NEW DELHI: India’s oil demand will increase more than any other country, accounting for 12% of global energy market on the back of rapid economic growth through 2050, according to BP plc chief economist Spencer Dale.“When we look ahead, India is the fastest-growing energy market in the world… So when we think about what’s driving…
India’s oil consumption is expected to surpass all other nations by 2050, driven by robust economic growth, accounting for over 12 per cent of global energy usage, according to BP’s chief economist Spencer Dale. As the world’s third-largest oil importer and consumer, and fourth-largest LNG importer, India’s oil demand is projected to rise from 5.4…
Russia remained the main supplier, delivering about 1.6 million bpd, constituting 34 per cent of total imports. (AI image) Donald Trump-led US government may be pressurising India to curb its crude oil trade with Russia, but Russian oil continues to form the biggest share in India’s crude import basket.India’s imports of Russian crude oil showed…
