Washington, March 6 – The United States has “reached out to India” to purchase Russian oil currently stored in floating storage in southern Asia as part of a short-term effort to ease pressure on global oil markets, US Energy Secretary Chris Wright said in an interview with ABC News.The...
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New York/Washington, March 6 The US said on Friday that it is "allowing our friends in India" to take the Russian oil already on ships around southern Asia, refine it, and move the stocks into the market quickly to ensure a steady supply and ease pressure amid the West Asia conflict.Earlier...
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New Delhi, March 6 – Indian refiners have begun acquiring millions of barrels of Russian oil floating in Asian waters after the US granted a waiver allowing the purchase of cargoes stranded at sea, but they are seeking legal opinions on whether the exemption also permits buying from sanctioned...
New Delhi, March 6 Following the US announcement that it was granting a temporary 30-day waiver to allow Indian refiners to purchase Russian oil, the BJP on Friday hailed the development as a success of "strategic oil diplomacy" under Prime Minister Narendra Modi, and said it was a "major...
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New Delhi, March 1 – India is expected to face volatility in oil prices and broader macroeconomic effects from the escalating Iran crisis, analysts said, adding that the country's oil supply chain does not yet face structural insecurity.Rising tensions in the Strait of Hormuz – through which a...
New Delhi, February 22 – India's crude import strategy is entering a phase of calibrated rebalancing rather than a sudden realignment, with Middle Eastern suppliers, led by Saudi Arabia, regaining market share, according to shipping data and analysts. This is happening even though Russian...