National Oil Marketing

Hossein Shamkhani, the son of Iran's former national security chief, has emerged as a major player in the global oil market, a Bloomberg report says.

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.

India's imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq - the nation's traditional top oil supplier.

India, the world's third biggest oil-consuming and importing nation, is looking to raise domestic output to help cut down reliance on costly imports.

The Group of Seven (G7) nations' proposed price cap of $65-$70 a barrel on Russian oil would have little immediate impact on Moscow's revenues.

"India will respond according to its supreme national interest," says Hardeep Puri on dealing with Russia despite its aggression on Ukraine

Indian Oil Corporation (IOC), the nation's top oil firm, raised Rs 2,500 crore in debt through non-convertible debentures (NCD) at an interest rate lower than government bonds, its director (finance) Sandeep Gupta said on Friday.

Shares of Oil India Ltd (OIL) gained 3.56 per cent in morning trade on Friday after the nation's second-largest state explorer reported strong June quarter results.

Sri Lanka canvassed oil companies in petroleum-producing nations on Tuesday to import and sell their products in the Indian Ocean island, opening its market to resolve acute shortages of fuel during its worst economic crisis in decades.

The lender said it has discontinued to pass on the 0.75 per cent fuel incentives from May this year

Oil prices clawed back some losses on Thursday after tumbling more than 5 per cent to a three-week low in the previous session after consuming nations announced a huge release of oil from emergency reserves to offset supply lost from Russia.

Oil prices dipped in and out of the negative territory on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a supply boost by the US.

Financial markets brace for more turmoil this week as the Russia-Ukraine conflict shows little signs of easing. At the same time, European Union nations consider joining the US in a Russian oil embargo sanction.

The head of the International Energy Agency said on Friday he hoped oil-producing nations would step in to ease supply fears as the Russian invasion of Ukraine sent shockwaves through markets.

Indian Oil Corporation (IOC), the nation's top oil firm, has bought as much as 3 million barrels of crude oil that Russia had offered at a steep discount to prevailing international rates, said sources.

Hossein Shamkhani, the son of Iran's former national security chief, has emerged as a major player in the global oil market, a Bloomberg report says.

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.

India's imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq - the nation's traditional top oil supplier.

India, the world's third biggest oil-consuming and importing nation, is looking to raise domestic output to help cut down reliance on costly imports.

The Group of Seven (G7) nations' proposed price cap of $65-$70 a barrel on Russian oil would have little immediate impact on Moscow's revenues.

"India will respond according to its supreme national interest," says Hardeep Puri on dealing with Russia despite its aggression on Ukraine

Indian Oil Corporation (IOC), the nation's top oil firm, raised Rs 2,500 crore in debt through non-convertible debentures (NCD) at an interest rate lower than government bonds, its director (finance) Sandeep Gupta said on Friday.

Shares of Oil India Ltd (OIL) gained 3.56 per cent in morning trade on Friday after the nation's second-largest state explorer reported strong June quarter results.

Sri Lanka canvassed oil companies in petroleum-producing nations on Tuesday to import and sell their products in the Indian Ocean island, opening its market to resolve acute shortages of fuel during its worst economic crisis in decades.

The lender said it has discontinued to pass on the 0.75 per cent fuel incentives from May this year

Oil prices clawed back some losses on Thursday after tumbling more than 5 per cent to a three-week low in the previous session after consuming nations announced a huge release of oil from emergency reserves to offset supply lost from Russia.

Oil prices dipped in and out of the negative territory on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a supply boost by the US.

Financial markets brace for more turmoil this week as the Russia-Ukraine conflict shows little signs of easing. At the same time, European Union nations consider joining the US in a Russian oil embargo sanction.

The head of the International Energy Agency said on Friday he hoped oil-producing nations would step in to ease supply fears as the Russian invasion of Ukraine sent shockwaves through markets.

Indian Oil Corporation (IOC), the nation's top oil firm, has bought as much as 3 million barrels of crude oil that Russia had offered at a steep discount to prevailing international rates, said sources.