Delayed rains and a heat wave over northern India have raised worries about whether rice production and exports from the World’s No. 1 supplier will dry up this year. But the bigger worry is not poor weather conditions, but rather a war-like situation near Iran. Monsoon rains have arrived over southern India, albeit with a […]
Shekhar GhoshShekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.
India closed its grape export season of 2018-19 with a 31 per cent rise in export of the fruit to Europe, the most premium market. Exports to Russia, China and other destinations are expected to have increased by about 25 per cent to 30 per cent. Grape growers had reported a bumper crop this year […]
Saudi Arabia may soak up some of Iran’s previous market share on the Indian market as Saudi Aramco is set to ship additional 2 million barrels per month to Indian Oil Corp between July and December this year on top of the existing term supply deal between the two companies. “We have told them […]
Iraq has become India’s top supplier of crude oil for the second consecutive year in 2018-19 fiscal year, meeting more than a fifth of the country’s oil needs. India imported 46.61 million tonnes of crude oil from Iraq during April to March FY 2018-19, up 2% from 45.74 million tonnes in 2017-18 fiscal, PTI reported […]
Saudi Arabian Mining Co. wants to more than double gold output within five years. Maaden, as the state-backed company is known, plans to boost gold output from about 415,000 ounces this year to one million by 2025, Chief Executive Officer Darren Davis said in an interview. This would catapult the oil-rich kingdom from a marginal […]
Saudi Arabia has threatened to use the “nuclear option” of undermining the petro-dollar if the U.S. moves forward with the NOPEC bill. The U.S. Congress has been mulling legislation, known as the NOPEC bill, which would allow the US Justice Department to take antitrust action against OPEC for manipulating the oil market. Specifically, the bill would […]
Washington has secretly given the go-ahead to several companies to sell nuclear power technology to Saudi Arabia, Reuters reports, citing a document it had obtained. The document featured an approval of six authorizations for nuclear power tech by Energy Secretary Rick Perry. The request for secrecy came from the companies that won the authorizations, according to […]
The long-awaited Saudi Aramco’s acquisition of Saudi Basic Industries Corporation (SABIC) is finally almost done. With a statement to the press, Aramco CEO Amin Nasser reported that Aramco has acquired a 70 per cent stake in SABIC, with an estimated value of $69.1 billion. Aramco’s CEO Nasser reiterated that the “deal is a major step […]
India may increase oil imports from Brazil and Mexico to offset the loss of Venezuelan oil in the wake of US sanctions on that country, says a IANS report. Venezuela is the fourth largest oil supplier to India after Saudi Arabia, Iraq and Iran. It accounted for about 11 per cent of India’s oil supplies […]
