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Indian refiners have stepped up purchases of Russian crude as they lock in supplies for the coming month, with around 60 million barrels secured, according to people aware of the developments. The move comes as disruptions linked to the ongoing Middle East conflict continue to affect global oil flows.The cargoes have reportedly been contracted at…
NEW DELHI: India’s state-run refiners are holding back from purchasing US-permitted Iranian oil cargoes despite a fresh sanctions waiver, as logistical, financial and regulatory uncertainties outweigh the short-term opportunity.According to a Bloomberg report, the hesitation comes after the United States issued a one-month waiver on Friday, allowing countries to buy Iranian crude already “on the…
NEW DELHI: Following a temporary waiver issued by the US administration on sanctioned Iranian oil stranded at sea, Indian refiners on Saturday said they would be keen to buy the crude, even as Tehran maintained that no surplus stocks existed.US treasury secretary Scott Bessent announced the waiver on Friday, saying that by temporarily unlocking this…
As the US temporarily eases sanctions on Iranian oil imports, Indian refiners are eyeing a resumption of crude purchases from Tehran.According to Reuters, several Indian refining companies are awaiting government direction and clarification from Washington on payment terms before finalising shipments. Watch HUGE VICTORY For Iran? U.S. Forced To Lift Oil Sanctions Under Global Pressure;…
NEW DELHI: Cooking gas production has increased by 10% since the govt issued directives to oil refiners to divert all components used in LPG production to fill the supply gap caused by the West Asia war, officials said on Tuesday.Acknowledging complaints of a shortage of commercial LPG cylinders through social media from various sectors, especially…
NEW DELHI: Invoking its emergency powers, the government directed oil refiners late on Thursday to increase production of cooking gas and ensure there is no shortage of LPG for domestic customers due to supply constraints arising from the ongoing military conflict in West Asia.India imports over 60% of its domestic LPG requirement, and nearly 85-90%…
Indian refiners are currently paying a premium of $2 to $4 per barrel above Dated Brent for deliveries of Russia’s benchmark Urals crude. (AI image) In a quick and immediate fix to the Middle East oil supply shock, Indian refiners have begun purchasing readily available Russian crude oil. With ships and tankers currently not moving…
Rupee strengthened 2 paise to 91.62 against the US dollar on Friday after the United States announced a 30-day waiver allowing Indian refiners to purchase Russian oil. This move comes amid the ongoing war in West Asia and aims to ease pressure on global energy supplies.“This stop-gap measure will alleviate pressure caused by Iran’s attempt…
The government has also directed producers to supply LPG, propane and butane to state-run refiners. (AI image) Middle East crisis impact: The government has activated emergency provisions to ensure there is no shortage of liquefied petroleum gas (LPG) in wake of the ongoing US-Israel-Iran war that has hit India’s imports of the energy source. India,…
India on its part has said that the country’s energy security will drive purchase decisions. (AI image) Days after India and the US announced a trade deal, the government has reportedly urged refiners to consider picking up more crude oil from the US and even Venezuela. US President Donald Trump has removed the 25% tariffs…
