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The Indian Rupee weakened against the US Dollar today. Month-end import demand and higher global crude oil prices are impacting the currency. Investors are awaiting the Federal Reserve's policy decision for further direction. Meanwhile, Indian equity markets showed gains in early trade. Crude oil imports from the United States have seen a significant increase. The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from im ...Read More >
Mumbai, Oct 28 (PTI) The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from importers and a surge in global crude oil prices. Forex traders said investors are keeping a watch on Federal Reserve's policy decision on Wednesday for further cues. Markets are assigning a 97.8 per cent probability to a 25-basis-point rate cut, with another one expected in December, they said. At the interbank foreign exchange market, the ...Read More >
NEW DELHI: India's largest oil refiner and fuel retailer, IndianOil, on Monday said it will comply with international sanctions, without referring to the latest US curbs on Rosneft and Lukoil -- two of the largest Russian crude exporters."We will abide by all sanctions imposed by the international community," company chairman Arvinder Singh Sahney said but declined to specify whether IndianOil will stop buying discounted Russian crude.IndianOil is the second Indian refining entity after private ...Read More >
In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The U.S. and India are close to a possible trade deal that would reduce tariffs on Indian exports to about 15% to 16% from the current 50%, according to the Mint. In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The bilateral trade agreement could be announced when President D ...Read More >
New Delhi: Reliance Industries Ltd, India's largest buyer of discounted Russian oil, plans to scale back imports following fresh US sanctions on Moscow-linked firms, dealing a significant blow to billionaire Mukesh Ambani's conglomerate. State-run refiners, however, may continue purchases through intermediary traders for now, industry officials said. Reliance, which operates the world's largest single-site oil refining complex at Jamnagar in Gujarat, purchased about half of the 1.7-1.8 million ...Read More >
New Delhi [India], October 23 (ANI): India's average crude import cost has increased sharply versus the Dubai benchmark, in FY2026 so far, even as the share of Russian crude in the country's oil basket has declined, said Kotak Institutional Equities in its latest report. The brokerage noted that with alternate crudes likely to be more expensive, premiums could also remain elevated and impact GRMs for refiners. Also Read | India Women vs New Zealand Women Free Live Streaming Online of ICC Women ...Read More >
By Jarrett Renshaw and Nidhi Verma WASHINGTON/NEW DELHI (Reuters) -India has halved its purchases of Russian oil, a White House official said, but Indian sources said no immediate reduction had been seen, as President Donald Trump's administration presses New Delhi and other nations to buy less Russian crude. Russian oil is a main irritant for Trump in prolonged trade talks with India - half of his 50% tariffs on Indian goods are in retaliation for those purchases. His administration says Mosc ...Read More >
Kedia Advisory - Crude oil yesterday settled lower by 1.68% at 5,145 as investors reacted to concerns over a potential supply surplus and renewed trade tensions between the U.S. and China. The International Energy Agency (IEA) forecasted that the global oil market could face a surplus of up to 4 million barrels per day in 2026, significantly higher than earlier estimates, amid rising output from OPEC+ and sluggish demand growth. The ongoing U.S.-China trade dispute, with both nations imposing ne ...Read More >
New Delhi: India's crude oil imports from Russia strengthened in the first half of October, reversing a three-month slide in arrivals seen during July-September as refineries were back on full stream to meet festive demand, according to ship tracking data. Imports from Russia slid from over 2 million barrels per day in June to 1.6 million bpd in September. However, tanker-tracking data for early October suggest a rebound: shipments of Urals and other Russian grades to India have picked up pace ...Read More >
NEW YORK (Reuters) -Oil prices were stable on Thursday as traders prepared for a potential halt to India's Russian oil imports, which could reshape flows and boost demand for supplies from elsewhere. Brent crude futures were down 28 cents, or 0.45%, to $61.63 a barrel at 12:40 p.m. EDT (1640 GMT). U.S. West Texas Intermediate futures were down 19 cents, or 0.33%, to $58.08. U.S. President Donald Trump said Prime Minister Narendra Modi had pledged on Wednesday that India would stop buying from ...Read More >
NEW DELHI: Inflation is less of a worry this fiscal, with GST rate cuts and low crude prices likely to keep prices in check, according to a Crisil report, which predicts that the initiation of the US Federal Reserve's (Fed's) rate cuts has also added space for the RBI to cut rates. The Fed cut policy rates by 25 bps rate in September. S&P Global expects two more rate cuts of 25 bps each in the remainder of calendar year 2025 and "we expect one more rate cut by the RBI in the current fiscal, ...Read More >
Indian officials have again told the Trump administration that a significant reduction in Russian oil imports by the South Asian nation's refiners would require Washington to instead allow crude purchases from sanctioned suppliers Iran and Venezuela. A delegation visiting the US this week reiterated the request in meetings with American officials, a person with knowledge of the discussions said, asking not to be identified as the talks are private. Indian representatives have emphasized that si ...Read More >
NEW DELHI, Sept 15 (Reuters) - Russian-backed Indian refiner Nayara Energy is seeking Indian government help to source equipment and materials needed for maintenance as European Union sanctions make it difficult to secure key items, three people familiar with the matter said. The private refiner has approached the Centre for High Technology, an advisory body under India's oil ministry, seeking assistance in sourcing specialised equipment, catalysts, and other raw materials, the sources said. N ...Read More >
New Delhi, Aug 28 (PTI) India's gains from importing discounted Russian oil are estimated to be just USD 2.5 billion per annum, significantly lower than the previously speculated range of USD 10-25 billion, a research report said on Thursday. Stopping Russian oil imports would force India, the world's third-largest oil importer and consumer, to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply. "Benefit from Russi ...Read More >
New Delhi, Aug 14 (PTI) State-owned Indian Oil Corporation Ltd (IOC) on Thursday reported more than doubling of its first quarter net profit, as marketing margins surged because of holding of retail prices despite a drop in input oil cost. Its standalone net profit of Rs 5,688.60 crore in April-June - the first quarter of the 2025-26 fiscal year - compared to Rs 2,643.18 crore earnings in the same period of the last year, according to a stock exchange filing by the company. The first quarter p ...Read More >
ONGC shares: ONGC posted an 18.2% YoY rise in Q1FY26 consolidated net profit to ₹11,554.21 crore, even as revenue fell 3.2% to ₹1,63,108 crore. Standalone profit dropped 10.2% YoY to ₹8,024 crore but grew 24% QoQ, while standalone revenue slid 9.3% YoY to ₹32,003 crore. EBITDA declined 2% YoY to ₹18,657 crore. Shares of state-run Oil and Natural Gas Corporation (ONGC) are set to be in focus on Wednesday after the energy major posted a mixed set of first-quarter earnings, with profit gr ...Read More >
New Delhi [India], August 14 (ANI): The credit-to-deposit ratio in Indian banks has stayed below 80 per cent as credit offtake in the country continues to lag, according to a report by CareEdge Ratings. The report highlighted that while both credit offtake and deposit growth have increased sequentially, they remain significantly lower than the levels seen last year. Deposits continued to outpace credit offtake in the current fortnight, leading to a narrowing of the credit-deposit gap. It state ...Read More >
Shimla, Aug 14 (SocialNews.XYZ) Braving darkness, fast currents and unstable terrain, the Indian Army on Thursday said its swift response averted a potential tragedy when a sudden flash flood struck Hojis Lungpa Nala in Himachal Pradesh's mountainous Kinnaur district. The incident happened at around 7 p.m. on Wednesday. Triggered by a cloudburst in the higher reaches of the Rishi Dogri Valley, the deluge engulfed the bridge across the Sutlej River and injured one individual. The site was an ac ...Read More >
NEW DELHI: India's oil and gas sector stands at a critical crossroads as soaring demand intensifies its dependence on imports, even as domestic production continues its steady decline. According to Rubix Industry Insights' Oil & Gas, July 2025 report, India's energy appetite is poised to climb sharply -- from 5.64 million barrels per day (bpd) in 2024 to 6.66 million bpd by 2030. That's a staggering one-third of the projected global demand growth over the period. But this growth is unfolding a ...Read More >
India's top oil refiner, Indian Oil Corporation (IOC), has purchased 7 million barrels of crude oil from the US, Canada and West Asia to be delivered in September, news agency Reuters reported. This big purchase comes as Indian refiners slow down buying Russian oil due to smaller discounts. What IOC bought from three regions *4.5 million barrels of US crude *500,000 barrels of Canada's Western Canadian Select (WCS) *2 million barrels of Das crude from Abu Dhabi These purchases came through ...Read More >
Indian negotiators had not expected to conclude a meaningful deal in time to meet Mr. Trump's revised deadline of Aug. 1. But they did expect to be treated as well as their neighbors, and to keep haggling with American officials until October or November, when Mr. Trump was invited to visit India as part of the Quad defense group, which brings together four big democracies -- India, the United States, Japan and Australia -- with a shared interest in standing up to China. Instead, they were fed ...Read More >
No decision has been taken as yet on stopping imports from Russia, the people said, asking not to be named due to the sensitivity of the matter. Both state-run and private refiners are allowed to buy from their preferred sources, and crude purchases remain a commercial decision made by them, several of the people said. Trump blasted India on Wednesday for continuing to purchase most of its military equipment and energy from Russia. The US leader imposed a surprise 25 per cent tariff on India an ...Read More >
Chandigarh, Aug 3 (SocialNews.XYZ) To impart quality health services, Punjab Chief Minister Bhagwant Mann on Sunday announced the government would open 200 new Aam Aadmi Clinics, taking the total number of such clinics to 1,081. Addressing the gathering at a function to mark inauguration of WhatsApp Chatbot for 881 Aam Aadmi Clinics, the Chief Minister said "it is a historic day in the healthcare sector of Punjab as a total of 881 Aam Aadmi Clinics across the state have been connected to a What ...Read More >
India's U.S. Crude Oil Imports Surge 51 Per Cent Following Trump's Return To Office: Sources Sunday, August 03, 2025 by Indian Defence News Since President Donald Trump resumed office for his second term, India has significantly increased its crude oil imports from the United States, marking a substantial shift in its energy procurement strategy. From January to June 2025, India's imports of US crude oil averaged 0.271 million barrels per day (mb/d), a 51% increase compared to 0.18 mb/d in the ...Read More >
Moradabad (UP), Aug 1 (PTI) The Moradabad district administration has cancelled the allotment of a government bungalow granted to former Uttar Pradesh chief minister Mulayam Singh Yadav. The Samajwadi Party (SP) has been asked to vacate the premises within 30 days. The bungalow, located in the posh Civil Lines area near the Police Training College (PTC II), was allotted to the SP patriarch 31 years ago. Spread across nearly 1,000 square meters on Nazul land, the property serves as the local S ...Read More >
Numbers Report - August 01, 2025 In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we'll dig into some data and provide a bit of explanation on what drives the numbers. Let's take a look. OPEC+ to Finish the Unwinding Job with September Superhike Following the joint ministerial monitoring committee meeting last week, eight leading members of OPEC+ will be meeting on Sunday (Aug ...Read More >
Mangaluru: MangaloreRefinery and Petrochemicals Ltd (MRPL), the ONGC-owned refining major, posted a consolidated net loss of ₹272 crore in the first quarter of FY26, as softening refining margins and lower revenue from operations weighed on its performance. The company's topline fell sharply to ₹20,988 crore, down nearly 23% from ₹27,289 crore in Q1 FY25. Its Gross Refining Margin (GRM) slipped to US$ 3.88 per barrel, compared to US$ 4.70 per barrel a year ago, amid weaker product cracks and pl ...Read More >
Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday reassured that global energy supplies remain adequate despite ongoing geopolitical conflicts that traditionally impact crude oil prices. Speaking on the sidelines of a national seminar in New Delhi, Puri addressed concerns about energy security in the context of heightened global uncertainties. "There are many things that have an impact on crude prices. People say that if there is military conflict somewhere, it will have an impa ...Read More >
India's crude oil imports from Russia surged to a near-annual high in June, reaching 2.08 million bpd, driven by West Asia tensions and discounted prices. While overall imports decreased, Russian volumes increased, with three refineries processing over half for G7+ exports. Despite diversification efforts, Russia remains India's top supplier, accounting for 40% of total crude imports. India's crude oil imports from Russia climbed to their highest in nearly a year in June, as refiners stocked up ...Read More >
New Delhi: Amid tensions in West Asia, especially the Israel-Iran conflict, India's import of crude oil from Russia rose to an 11-month high in June as refiners topped up tanks. According to data from Kpler, a global commodity tracking firm, India imported 2.08 million barrels per day (bpd) of Russian crude last month, the highest since July 2024. India has purchased over 80 per cent of Russia's seaborne Urals crude exports so far in 2025, with Reliance Industries and Nayara Energy accounting f ...Read More >
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