Tag: India
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The Energy Agency: India will lead the demand for oil globally… and China will rank second
India is expected to lead global oil demand, after it was quick to take advantage of Russian rivalries in the wake of the invasion of Ukraine. In an effort to meet the growing needs inside. This came in the words of the head of the International Energy Agency, Fatih Birol, who expected India to overtake…
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Postponing the review of fuel prices in India due to the Saudi surprise
Suggestions for postponing the review of fuel prices in India began to emerge after Saudi Arabia’s decision to voluntarily reduce its production by one million barrels of oil per day for a month starting on July 1, after the ministerial meeting of the “OPEC +” alliance, yesterday, Sunday, June 4, 2023, and the price increase…
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India plans to launch a dual tender for oilfields and offshore wind farms
Read in this article India is counting on offshore wind projects to boost the share of clean electricity in the energy mix Tendering for oilfields and offshore wind farms in India soon India plans to launch seabed leasing tenders for 37 GW wind farms by 2030 Attracting investments to the offshore wind sector is an…
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Announcing two oil and gas discoveries in India
Two oil and gas discoveries were announced in India, which are currently being evaluated in detail, in preparation for announcing the size of their reserves. The two discoveries were made by the state-owned oil and natural gas company ONGC, following the development of the blocks granted through the open space licensing policy, and the utilization…
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Conflicting news about an expected setback for Russian oil and coal importers in India
Today, Thursday, May 4 (2023), it was reported that negotiations between Moscow and New Delhi on a bilateral trade settlement in Indian rupees are on hold, which constitutes a major setback for Russian oil and coal importers, but Russian officials quickly dispelled these allegations. They denied the allegations of suspending the rupee trade talks, describing…
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Russian oil is flowing to India and China above the price ceiling levels
India and China turned a blind eye to the US warnings, as they continue to import Russian oil at prices that exceed the ceiling set by Western countries in an attempt to reduce Moscow’s energy revenues. Beijing and New Delhi captured the vast majority of Moscow’s oil exports in April (so far) at prices above…
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India declares its position on buying Russian oil above the price ceiling
India has defended its Russian oil imports, which have peaked recently, stressing that it faces its biggest economic threat. New Delhi confirmed the possibility of buying Russian crude at a level close to or exceeding the price ceiling imposed by the West in the aftermath of Moscow’s war on Ukraine, according to a report published…
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Oil production in India is booming with investments of more than one billion dollars
India’s oil production is expected to boom in the near term, in a bid to reduce the country’s dependence on imports from other countries. In this context, the Indian Oil and Natural Gas Corporation (ONGC) is preparing to bet billions of dollars on deep-water and ultra-deepwater exploration. This comes at a time when New Delhi…
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India abolishes exceptional taxes on oil as global prices fall
It seems that the recent decline in oil prices has prompted India to abandon the exceptional taxes imposed on crude producers, and has also made adjustments to taxes on some types of fuel. New Delhi had previously pledged to review the tax rate linked to fluctuations in oil prices in global markets, according to what…
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Russian oil reduces temptations to China and India amid fierce competition for Espoo crude (report)
Russian companies tended to reduce offers of generous Russian oil discounts offered to China and India, the largest Asian and global economies, amid fierce competition for demand over the past months. Private Indian refineries are competing with their Chinese counterparts for future purchase contracts for Russian Espoo crude for delivery in April (2023), according to…
