Page 21 of Oil prices

Rising crude, USD, double whammy for economy; inflation may not subside this yr as oil prices may remain high

From oil to wheat to copper, the price of nearly every raw material that the world consumes today is majorly…

June 10, 2022 09:56 IST

Drawn to the discounts offered, three Indian state refiners - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum - opened negotiations with Rosneft earlier this year for six-month supply deals.

Russia has no extra oil to sign deals with two Indian buyers, say sources

Bellatrix and Sunrise were not available for comment, while Coral and Everest did not respond to a Reuters email seeking…

June 8, 2022 21:16 IST

This follows weaker metrics in FY22 as marketing losses pressured EBITDA and rising crude oil prices increased working capital requirements, offset partly by inventory gains.

Higher than usual imports of Russian oil to help fuel retailers amid petrol, diesel prices freeze: Report

Fitch said rising global demand and tightening supply for refined products support refining margins, and oil companies’ marketing margins recover…

June 7, 2022 19:56 IST

No plan to impose windfall tax on oil companies

The UK and Hungary have recently imposed extra levies on oil companies in the form of the so-called “windfall tax”,…

June 6, 2022 08:58 IST

Puri said: "Our present focus is on ensuring that we get access to energy at secure and affordable prices. That is the main thing".

Oil marketing companies seeking ‘relief’ as under-recoveries mount: Hardeep Singh Puri

Retail fuel prices have been on hold over the last seven weeks, even though crude prices continued to remain elevated.…

June 3, 2022 03:00 IST

"What happens to markets depends on whether we see some normalisation in inflation in the second half of the year," Savary said.

Global Markets: Oil surge fans inflation fears, dampens stocks

Brent crude futures dashed to two-month highs above $123 a barrel and could rise further, analysts warn, citing Europe’s decision…

May 31, 2022 18:18 IST

Crude oil forecast: MCX Crude June futures may rise to Rs 9,100/bbl in next 3-4 sessions; outlook positive

WTI crude futures held their recent advance to around $114 per barrel and were on track to close the week…

May 27, 2022 11:48 IST

Oil and Natural Gas Corporation (ONGC) produced 1.65 million tonnes of crude oil in April, which was nearly 5 per cent more than the target set for it and 0.86 per cent high than the 1.63 million tonnes produced last year.

India’s crude oil production falls 1% in April

India’s crude oil production fell 1 per cent in April after lower output from fields operated by the private sector…

May 24, 2022 17:12 IST

Refiners in India have placed orders for at least 40 million barrels of Russian oil since the invasion on Feb. 24, Reuters calculations based on information from crude tenders and traders show. The purchases are for loading in the June quarter.

India’s Russian oil purchases since Ukraine invasion more than double 2021 total

“We try to insulate consumers as much from price shocks as we can, but we need to protect our profits…

April 25, 2022 17:35 IST

Oil prices could rise again amid unabating Ukraine war; Indian economy may lose 1.7% of GDP: Kotak

India’s macroeconomic situation may deteriorate further if oil prices were to spike, the brokerage said. An average crude price of…

Updated: April 25, 2022 16:35 IST

The EU sends USD 450 million a day to Russia for oil and USD 400 million per day for natural gas, according to calculations by analysts at the Bruegel think tank in Brussels.

Explained: What’s the impact if Europe cuts off Russian oil?

The EU is now discussing sanctions on Russian oil, including a possible boycott.

April 21, 2022 17:46 IST

Oil prices may rise to $90/bbl this FY as Ukraine war looms, brokerage says; 16% upside for GAIL stock

The limited supply of oil from Russia rigs and curtailed oil production by OPEC+ countries will likely result in soaring…

April 18, 2022 16:35 IST

The sale deal wth ADES Saudi, which is in the business of providing oil field services, will fetch the beleaguered company an amount close to Rs 808 crore.

Aban Offshore to sell four rigs to ADES Saudi for Rs 808 crore to repay debt

Giving details of the agreement, the company said that while rigs Deep Driller 2 and Deep Driller 4 would fetch…

April 15, 2022 05:45 IST

The state-run refiner regularly buys Russian Urals for its 310,000 barrels per day (bpd) Kochi refinery in southern India.

Bharat Petroleum buys 2 million barrels of Russian Urals for May loading, say sources

Refiners in India, the world’s third biggest oil importer and consumer, have been snapping up Russian oil through spot deals…

April 6, 2022 17:37 IST

At the same time, it has pointed out Europe’s growing purchases of petroleum products from Moscow despite the Ukraine war.

We will continue to buy Russian oil, says FM Nirmala Sitharaman

China, meanwhile, has been quietly buying large volumes of oil and gas from Russia, taking advantage of deep discounts offered…

April 2, 2022 05:30 IST

Whether trying to find jobs for a growing number of unemployed youth or finding a way to end the long war he launched in Yemen, Crown Prince Mohammed bin Salman and his father King Salman now face a potential pivot point for the kingdom amid Russia's war on Ukraine.

Analysis: High oil prices, Ukraine war at Saudi pivot point

“If I’m going to get the employment rate down, and tourism could create 1 million jobs in Saudi Arabia, ……

April 1, 2022 17:08 IST

"It is still not clear whether this will really happen," wrote Carsten Fritsch of Commerzbank in a report, adding: "a decision of this kind requires unanimity."

Oil rises towards $116 as EU weighs Russian ban

European Union foreign ministers are split on whether to join the United States in banning Russian oil. Some countries, including…

March 22, 2022 19:26 IST

Brent crude futures fell 29 cents, or 0.3%, to $106.35 a barrel by 1245 GMT, after surging nearly 9% on Thursday in the largest percentage gain since mid-2020.

Oil prices headed for weekly loss, but stay well above $100/bbl

U.S. West Texas Intermediate (WTI) crude futures were up 8 cents, or 0.1%, at $103.06 a barrel, adding to an…

March 18, 2022 18:49 IST

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Egg prices spike 25-50% with spurt in demand

Economy1 hr ago

Egg prices have skyrocketed to Rs 800 per 100 units in major cities due to high demand during winter. This is a 25-50% increase from previous months, and prices are expected to stay high for a few weeks. Production can’t keep up, resulting in a shortfall of 15 million eggs per day in Maharashtra. Export demand has also risen by 40%, adding to the strain on supply.

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Page 21 of Oil prices

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