After a brief respite for crude oil prices on promising results from the much-anticipated Covid vaccine, the fossil fuel has resumed its downward march. A surge in fresh virus cases and related restrictions are weighing on oil prices as the number of people who have died from covid in the US has now crossed 250,000. […]
China has started buying small quantities of rice from the world’s largest exporter of the grain, India, whose shipments are set to hit a record this year, a top industry official said. Vinod Kaul, executive director of All India Rice Exporters Association, said in an interview that the orders for shipments have been placed recently. […]
With a closely-fought election edging slightly towards Democrat nominee Joe Bien, crude oil prices are edging downwards in anticipation of more fuel supplies reaching global markers. On Thursday, Brent crude fell 0.4% to $41.06 a barrel and West Texas Intermediate down 0.7% to $38.87 a barrel. A Biden administration is seen as less bullish for […]
Sugar millers have appealed to the Centre to urgently announce a policy for the export of sugar. The appeal comes in the wake of a recent statement by Food and Commerce Minister Piyush Goyal that the government is currently not considering an extension of sugar export subsidies for the 2020-21 season in view of stable […]
The largest importer of heeng or asafoetida, India now plans to cultivate the crop in four locations at Himachal Pradesh, as per the Ministry of Agriculture for the first time in its history. Thanks to the combined efforts by the Council of Scientific and Industrial Research (CSIR) and the Institute of Himalayan Bio-resource Technology (IHBT), heeng has been […]
India has all but lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran decided to prefer domestic companies over foreign firms for development of the field, sources said. ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), had in 2008 discovered a giant gas field […]
News about contraction in the eight core infrastructure industries in India was disappointing this week. Core industries shrunk by 8.5 per cent in August from 8 per cent in July. The fiscal deficit in April-August further hit 109 per cent of the full-fiscal year target. While at first look the rise in the RBI’s Current […]
With onion prices continuing to rise, some importers have decided to import the commodity from Egypt, Iraq, Iran and Turkey, Financial Express has reported. Traders at Nashik and Vashi – one of the largest wholesale markets in the country – said around 20-25 containers from Egypt are expected to arrive at landed cost of Rs […]
Iran is estimated to have exported nearly 1.5 million barrels per day (bpd) of crude oil and condensate so far in September, Reuters reported citing data from TankerTrackers. This would be the highest level of Iranian exports in a year and a half and double the observed exports in August. Two other tanker-tracking firms have […]
India’s oil imports from Africa jumped to its highest in 10 months in August 2020 as refiners switched out more expensive crude from the Middle East, Reuters reports citing shipping data. The world’s third biggest oil importer shipped in about 3.95 million barrels per day (bpd) of oil in August, the highest volume since April, from African […]
