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India pays its third largest oil supplier in euros using European banking channels and imports.

Excise cut to cost India its fiscal deficit target

It said that the government revenue from excise duties on petroleum products has more than doubled since fiscal 2014.

10 Oct 2018 12:27 AM IST

Brent crude futures were at $77.99 a barrel at 1345 GMT, down 25 cents.

Crude prices touch 3.5-year high despite Trump's demand

Opec together with a group of non-Opec producers led by Russia started to withhold output in 2017 to prop up the market.

6 July 2018 6:28 AM IST

We expect the global leaders will understand our requirements, Petroleum Minister Dharmendra Pradhan said.(Photo: File | PTI)

IOC-BPRL wins oil block in Abu Dhabi

Indian Oil Corporation and Bharat PetroResources Ltd will invest USD 170 million in the project.

25 March 2019 3:13 PM IST

Petroleum ministry has been demanding to bring petrol and diesel on GST to give relief to consumers from high prices.

India's fuel demand rises 3.8 per cent in February

Fuel consumption in Feb totalled 17.41 million tonnes as compared to 16.77 million tonnes in same month last year.

19 March 2019 2:51 PM IST

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Crude oil futures fall by Rs 70 amid weak trend overseas

The oil for delivery in June also fell by Rs 64, or 1.37 per cent, to Rs 4,592 a barrel in 695 lots.

26 April 2019 4:15 PM IST

We expect the global leaders will understand our requirements, Petroleum Minister Dharmendra Pradhan said.(Photo: File | PTI)

India's crude oil production falls by 4.15 pc in 2018-19

Falling domestic crude oil production has pushed up India's oil imports to nearly 84 per cent of total consumption.

26 April 2019 12:00 PM IST

The source confirmed a report by a Washington Post columnist that the administration will terminate the sanctions waivers it had granted to some importers of Iranian oil late last year. (Representational Image)

Rising crude prices to adversely impact CAD, rupee, inflation: Report

A 10 pc spike in crude prices can result in a 0.40 pc widening of the CAD and also push up inflation by 0.24 pc.

24 April 2019 2:15 PM IST

Reliance Industries plans to shut oil and gas production at its main fields in KG-D6 block in the coming months.

Reliance to start gas production from R-Cluster in 2nd half of FY21

Reliance and its partner BP Plc had in 2017 announced an investment of Rs 40,000 crore in three sets of discoveries.

19 April 2019 6:16 PM IST

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Indian refiners turn to OPEC, Mexico, US to make up Iran oil gap

Refiners have not yet placed orders for Iranian oil for May, when current waiver expires, pending clarity from US.

17 April 2019 4:55 PM IST

We expect the global leaders will understand our requirements, Petroleum Minister Dharmendra Pradhan said.(Photo: File | PTI)

ONGC arrests fall in oil output from onshore wells, posts higher...

ONGC produced 6.141 million tonnes of crude oil from its onshore fields despite majority of them being more than 50...

14 April 2019 12:10 PM IST

US oil shipments to China have surged, creating trade between the worlds two biggest powers that until 2016 just did not exist.

Saudi oil cuts deeper than promised: International Energy Agency

The Paris-based IEA said production by OPEC kingpin Saudi Arabia dropped to its lowest level in two years in March.

11 April 2019 6:11 PM IST

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Saudi minister says oil market headed for 'balance'

Saudi Energy Minister Khalid al-Falih said he did not "think we need to" when asked if kingdom was prepared to make...

8 April 2019 3:38 PM IST