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IOC Net Profit Drops 81% In Q1 On Low Refining Margin, Fuel Under-Recoveries
IOC reported a 81 per cent drop in June quarter net profit, as refinery and marketing margins fell and the firm booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates.
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Indian Refiners Buy More US Crude Amid Tighter Russia Sanctions
More than 250,000 barrels per day of US crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude.
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New US Sanctions May Threaten Russian Oil Sales To India: Report
Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter sa
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5 Million Barrels Of Russian Sokol Oil Stuck En Route To India: Report
Almost five million barrels of Russia's Sokol grade crude has failed to reach Indian refiners over the past four weeks, Bloomberg News reported on Wednesday.
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India To Buy Venezuelan Oil? What Minister Said
Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, Oil Minister Hardeep Singh Puri said on Wednesday, days after the US temporarily lifted sanctions on OPEC member Venezuela's oil sector.
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Russia Makes Up 40% Of Indian Oil Imports: Report
The share of Russian oil in India's overall imports rose to about two-fifths in the first half of fiscal 2023/24, consolidating Moscow's position as the top supplier as refiners curbed purchase from the Middle East, industry data showed.
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ONGC Signs Mega Pact With Indian Oil Corporation For Petrochemicals
India's top oil and natural gas producer ONGC has signed a mega pact with the nation's largest oil refining and fuel marketing company Indian Oil Corporation (IOC) for exploring opportunities in the petrochemicals business.
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5 Healthy Refined Oil Alternatives That Can Help Burn Belly Fat
Refined oil is used on a regular basis in Indian households, but it can be quite harmful to our health. Here are some healthy alternatives to consider.
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S Jaishankar's Reply On EU Call For Action Against India Over Russian Oil
Responding to Josep Borrell, EU Foreign policy chief's remarks calling for action against Indian refined products from Russian crude, External Affairs Minister S Jaishankar on Tuesday (local time) advised him to look at EU Council regulations.
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Rapid EV Adoption in India Fanning Expectations That Fuel Demand Could Peak Early
Electric vehicle adoption in India is growing rapidly, prompting a major rethink about demand for fuel, while refiners in the third-largest economy on the continent are moving away from producing fuel. Despite new momentum in India, the question for the country is whether it will be enough to ultimately shake its fossil fuel dependency. State refin...
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Indian Refiners Wary Of Buying Russian Oil As EU Sanctions Loom: Report
Indian refiners are wary of buying Russia crude oil loading after Dec. 5 when European Union sanctions take effect, pending clarity on the proposed G7 price cap mechanism, according to sources.
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How India's Bingeing On Russian Oil Is Hitting Middle East
India's oil imports from the Middle East fell to a 19-month low in September while Russian imports rebounded although refining outages hit overall crude imports, data from trade and shipping sources showed.
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IIT Jodhpur, Algo8 AI Collaborate To Make Oil Refining In Petroleum, Allied Industries More Efficient
IIT Jodhpur researchers has developed a model for control and schedule maintenance of heat exchanger networks to increase the efficiency of refineries.
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India Pushes Refiners To Diversify Purchases After Production Cut By OPEC (Oil Producers)
Indian state fuel retailers have not raised pump prices since April.
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Indian Refiners Pay Dollars For Russian Oil After Dirham Attempts Fail: Report
Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier.
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IOC Net Profit Drops 81% In Q1 On Low Refining Margin, Fuel Under-Recoveries
IOC reported a 81 per cent drop in June quarter net profit, as refinery and marketing margins fell and the firm booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates.
-
Indian Refiners Buy More US Crude Amid Tighter Russia Sanctions
More than 250,000 barrels per day of US crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude.
-
New US Sanctions May Threaten Russian Oil Sales To India: Report
Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter sa
-
5 Million Barrels Of Russian Sokol Oil Stuck En Route To India: Report
Almost five million barrels of Russia's Sokol grade crude has failed to reach Indian refiners over the past four weeks, Bloomberg News reported on Wednesday.
-
India To Buy Venezuelan Oil? What Minister Said
Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, Oil Minister Hardeep Singh Puri said on Wednesday, days after the US temporarily lifted sanctions on OPEC member Venezuela's oil sector.
-
Russia Makes Up 40% Of Indian Oil Imports: Report
The share of Russian oil in India's overall imports rose to about two-fifths in the first half of fiscal 2023/24, consolidating Moscow's position as the top supplier as refiners curbed purchase from the Middle East, industry data showed.
-
ONGC Signs Mega Pact With Indian Oil Corporation For Petrochemicals
India's top oil and natural gas producer ONGC has signed a mega pact with the nation's largest oil refining and fuel marketing company Indian Oil Corporation (IOC) for exploring opportunities in the petrochemicals business.
-
5 Healthy Refined Oil Alternatives That Can Help Burn Belly Fat
Refined oil is used on a regular basis in Indian households, but it can be quite harmful to our health. Here are some healthy alternatives to consider.
-
S Jaishankar's Reply On EU Call For Action Against India Over Russian Oil
Responding to Josep Borrell, EU Foreign policy chief's remarks calling for action against Indian refined products from Russian crude, External Affairs Minister S Jaishankar on Tuesday (local time) advised him to look at EU Council regulations.
-
Rapid EV Adoption in India Fanning Expectations That Fuel Demand Could Peak Early
Electric vehicle adoption in India is growing rapidly, prompting a major rethink about demand for fuel, while refiners in the third-largest economy on the continent are moving away from producing fuel. Despite new momentum in India, the question for the country is whether it will be enough to ultimately shake its fossil fuel dependency. State refin...
-
Indian Refiners Wary Of Buying Russian Oil As EU Sanctions Loom: Report
Indian refiners are wary of buying Russia crude oil loading after Dec. 5 when European Union sanctions take effect, pending clarity on the proposed G7 price cap mechanism, according to sources.
-
How India's Bingeing On Russian Oil Is Hitting Middle East
India's oil imports from the Middle East fell to a 19-month low in September while Russian imports rebounded although refining outages hit overall crude imports, data from trade and shipping sources showed.
-
IIT Jodhpur, Algo8 AI Collaborate To Make Oil Refining In Petroleum, Allied Industries More Efficient
IIT Jodhpur researchers has developed a model for control and schedule maintenance of heat exchanger networks to increase the efficiency of refineries.
-
India Pushes Refiners To Diversify Purchases After Production Cut By OPEC (Oil Producers)
Indian state fuel retailers have not raised pump prices since April.
-
Indian Refiners Pay Dollars For Russian Oil After Dirham Attempts Fail: Report
Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier.
