Saudi Arabia needs $80-85 per barrel oil price to balance its 2019 Budget: IMF
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 …
South Africa oil discovery could be a game changer
One of the promising hotspots for oil and gas exploration drilling this year—South Africa’s offshore—has just yielded a massive natural gas and …
India’s Natural Gas production up 4.2% in December 2018
India’s natural gas production increased by 4.2 per cent to 2.87 billion cubic meters (bcm) in December 2018 over a year ago. Natural gas production by …
India maintains oil trade with key supplier Venezuela despite crisis
India continues to trade with Venezuela, a key crude oil supplier, despite the ongoing crisis in Venezuela, India’s Financial Express reports. Venezuela’s …
India set to overtake China to become the second largest oil consuming country: Wood Mackenzie Report
India will surpass China to become the second largest oil demand growth centre globally in 2019 on back of buoyant auto fuel and LPG consumption, research and …
India’s trade deficit shrinks to 10-month low
India’s trade deficit shrank to the lowest in 10 months in December 2018 as lower crude oil prices and falling gold demand reduced the burden on the import …
India exempts rupee payments made to Iran’s National Oil Company from taxes
The government of India has exempted rupee payments made to Iran’s National Oil Company (NIOC) towards the purchase of crude oil from payment of any tax, …
India’s diesel demand to double by 2029-30, government says
India’s diesel demand is likely to double to 163 million tonnes (MT) in 12 years as consumption rises in the world’s fastest-growing economy, Oil …
India’s April-November 2018 trade deficit widens to $129 billion
India recorded a $16.67 billion trade deficit in November 2018, taking overall trade deficit for the first eight months of the 2018-19 financial year to …
Iran loses market share in India as its Oil exports slump in November 2018
India’s oil imports from Iran dropped to a one-year-low in November, plunging by 41 per cent from October due to the U.S. sanctions, Reuters reported, …