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What do the new agreements between UAE and India entail? How will India’s energy security plans get a boost? (AI image) India’s energy security received a major boost on Friday when two important Memorandum of Understanding (MOUs) were signed during PM Narendra Modi’s visit to the UAE on Friday. India imports close to 90% of…
In a boost to India’s energy security, several MoUs have been signed during PM Narendra Modi’s UAE visit on Friday. PM Modi’s visit to the UAE amid the ongoing US-Iran conflict and global crude oil price shock holds particular significance.According to an ANI report, several key agreements and investment commitments were announced during the trip….
NEW DELHI: Petroleum minister Hardeep Singh Puri on Tuesday said public sector oil marketing companies may not be able to sustain daily losses of Rs 1,000 crore from selling petrol and diesel below market price, in a strong indication that pump prices are set to rise in the coming days.“They’re taking a loss to insulate…
Union petroleum and natural gas minister Hardeep Singh Puri on Tuesday soothed concerns over energy supplies across the country, saying that fuel and cooking gas supplies remain stable. Addressing the CII Annual Business Summit, Puri said that the country currently holds crude oil and LNG reserves sufficient for 69 days, while LPG stocks can last…
BAREILLY: Two senior officials of Hindustan Petroleum Corporation Limited (HPCL) were shot dead by an armed man who barged into the company’s plant in UP’s Budaun district on Thursday afternoon. The accused, Ajay Singh, a vendor, was allegedly sacked two months ago.According to police, plant manager Sudhir Gupta, and deputy manager Harshit Mishra, died in…
India’s state-owned Bharat Petroleum Corp (BPCL) and private refiner HPCL Mittal Energy Ltd (HMEL) have each bought one million barrels of Venezuelan Merey crude oil, marking BPCL’s first-ever purchase and HMEL’s first in two years, according to Reuters sources on Wednesday. The deals, arranged through trader Vitol, will increase India’s Venezuelan oil imports to at…
India Oman flags AI representative image India and Oman are set to sign the Comprehensive Economic Partnership Agreement (CEPA) “very soon”, aiming to diversify trade beyond energy and expand the exchange of goods and services, said Oman’s Ambassador to India Issa Saleh Abdullah Saleh Alshibani said.In an interview with PTI, Alshibani said that negotiations, which…
The venture includes a crude oil filling expense of $1.25 billion (Rs 11,020 crore) at present rates. (AI image for representative purpose) India is looking to build its first-ever private sector strategic petroleum reserve in the next five years. The massive Rs 5,700 crore project contract has been awarded to Megha Engineering & Infrastructures Ltd.According…
