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 […]
India and China have signed a protocol for the export of Indian chilli meal to China, as part of a move to promote “more balanced trade” between the two Asian countries. This is the eighth agricultural product since 2003 for which India and China have signed a protocol for trade. The move comes amidst an […]
Indian tea producing firms and exporters are trying to work out alternate routes to ship tea to Iran in order to bypass the sanctions imposed by the US on this West Asian country making direct shipments to Iran unfeasible. US announced sanctions last year and a waiver to some countries including India was given. The […]
US President Donald Trump’s tweet last week that he will raise U.S. tariffs on $200 billion worth of Chinese imports to 25 per cent from 10 per cent has rattled oil and commodity markets the world over. Oil prices reacted with a sharp drop in prices. Brent crude futures offered an early verdict to Trump’s […]
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 […]
The International Grains Council (IGC) has raised its forecasts for world wheat and corn production in the 2019/2020 season. The 2019-20 projections indicate a return to the bearish combination of rising production and stocks last experienced in 2017-18. The inter-governmental body, in a monthly update, increased its global wheat crop forecast by 3 million tonnes […]
The recent announcement of withdrawal of waiver (which allowed India to continue to import crude oil from Iran despite imposition of trade sanctions on Iran) by the US government in the first week of May has led to uncertainty over India importing crude oil from Iran. This can in turn skittle the exports of commodities […]
The performance of Indian economy in terms of standard economic parameters like GDP, consumption, investment, per capita income, inflation, current account deficit and fiscal deficit can be termed as reasonably good specifically while comparing with the result sheets of other economies, advanced or developing. There are, however, concerns on the sustainability of these indices in […]
U.S. sanctions, political troubles and repeated power blackouts pushed Venezuela’s crude production to a long-term low of 870,000 barrels per day (bpd) in March, the International Energy Agency (IEA) said in its latest report, even lower than OPEC reported the day before. “The blackouts are an additional challenge for Venezuela’s oil sector, already set back […]
Shell and Japan’s Tokyo Gas Co Ltd have signed a long-term liquefied natural gas (LNG) deal, whose price will include a link to coal prices, in an innovative type of LNG contract aimed at diversifying price indexation. Typically, long-term LNG contracts for Asia are linked to the price of oil, while U.S. LNG sales are priced off […]
