Iran’s armed forces should prepare as if an attack were imminent, General Abdolrahim Mousavi instructed on Thursday just as the US waivers on Iranian crude oil sanctions expired, according to Iran’s Radio Farda. “All forces should prepare themselves as though an attack can occur tomorrow and continuously engage in war exercises,” Mousavi told IRNA, the official […]
The growth of eight core sectors improved marginally to 4.7 per cent in March 2019 against 4.5 per cent in the same month last year. This is the highest growth in five months, with impressive recoveries in the refinery products segment. Cement production, too, improved rapidly last month. Data released by the Ministry of Commerce […]
India’s crude oil production fell over 4 per cent in the financial year 2018-19 after aging fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) missed the target, official data showed. India produced 34.2 million tonnes of crude oil in the fiscal year ended March 31, down from 35.7 million […]
The growth of eight core sectors slowed down to 2.1 per cent in February due to fall in output of crude oil and refinery products, official data showed. Eight infrastructure sectors – coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity – had expanded by 5.4 per cent in February 2018. Sluggish […]
Growth of eight core sectors in India slowed down to 1.8 per cent in January due to fall in output of crude oil, refinery products and electricity, official data showed. Eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — had expanded by 6.2 per cent in January […]
Indian Oil Corporation (IOC), India’s largest oil refiner, has signed its first annual contract for deliveries of crude oil from the United States, Reuters reports, citing a statement by the company chairman. IOC will buy an average of 60,000 bpd for a total price of US$1.5 billion in the year to March 2020. The seller is […]
U.S. National Security Advisor John Bolton has warned countries and companies against buying crude oil from Venezuela, after the Latin American country’s Oil Minister Manuel Quevedo said during a surprise visit to India that Venezuela wants to sell more oil to the fast-growing Indian market. In a tweet with a Bloomberg article on Venezuelan-Indian oil relations attached, […]
OPEC’s biggest producer Saudi Arabia would need oil prices at US$80-85 per barrel in order to balance its 2019 budget, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), told Reuters. Saudi Arabia’s officials, including Energy Minister Khalid al-Falih, don’t discuss publicly ‘targeted oil prices’ or a desired […]
The output pace of India’s eight major industries slowed down in December to 2.6 per cent, according to latest official data. According to the Ministry of Commerce and Industry, the Index of Eight Core Industries (ECI) rose by 3.4 per cent in November 2018 and 3.8 per cent in December 2017. “The combined Index of […]
Japan, South Korea, India, and China are all buying Iranian crude once again, but at much lower rates than they did before November when U.S. sanctions kicked in, S&P Global Platts calculations reveal. All four countries, along with another four, were granted sanction waivers for a period of 180 days, with China and India only lowering […]
