Crude Oi

MRPL seeks cheaper oil amid US pressure, hopes to keep buying Russian crude

Russian oil accounted for about 35 per cent to 40 per cent of MRPL's overall oil imports in the September quarter

Datanomics: Amid geopolitical uncertainty, a look at Russia's energy trade

US pushes India and EU to cut Russian energy imports, linking deals to compliance

Sanctions leave Nayara struggling to secure non-Russian crude supplies

Nayara Energy - part-owned by Russian oil giant Rosneft PJSC and blacklisted by the European Union in July - is facing difficulties in securing non-Russian crude supplies for a second month in a row as western shipping companies refused to ferry oil for it, ship tracking data showed. Nayara, which has already cut down the run rate of its 4,00,000 barrels a day oil refinery at Vadinar in Gujarat, remains heavily reliant on Russian barrels since August. The company got about 2,42,000 barrels per day (bpd) of Russian oil, possibly in ships arranged by Moscow, in August, and another 3,32,000 bpd in the first half of September, preliminary data by global trade analytics firm Kpler showed. It did not get any crude oil, which is converted into fuels like petrol and diesel at the refinery, from other key sources, such as Iraq and Saudi Arabia, in both August and September. Iraq and Saudi Arabia had supplied about 1,20,000 bpd of crude to Nayara in July. "Nayara's situation remains challeng

Trump urges European leaders to stop Russian oil imports, cites Ukraine war

In a 'Coalition of the Willing' call, US President Donald Trump urged European leaders to stop buying Russian oil that funds the war in Ukraine and called for stronger security support

Hormuz blockade may shrink Russian crude discounts for Indian refiners

Traders say discounts on Russian oil may fall below $2 a barrel amid rising shipping costs and competition from China and Turkey

Oman to become 1st Gulf state to levy income tax, aims to cut oil reliance

Oman will introduce a 5% income tax on top earners in 2028, aligning with Vision 2040 to diversify income, strengthen public finances, and reduce reliance on oil revenue

OMC shares gain up to 6% on lower crude oil prices; should you buy or hold?

While Motilal Oswal Financial Services think the rally in OMC stocks is now entering the last phase, the brokerage firm still see a few positive catalysts.

Trump threatens sanctions over Iranian oil: What it means for India, China

US-Iran talks, scheduled for May 3rd, have been postponed due to 'logistical reasons'

US crude exports to India hit over 2-yr high in Feb amid Russia sanctions

India said last month its energy purchases from the US could go up to $25 billion in the near future from $15 billion last year

Rupee touches new intra-day low of 84.88 due to rise in crude prices

The local currency settled at 84.87 against the dollar on Wednesday

Refined petroleum product export rose 12% in October, shows PPAC data

Globally, supplies have continued to rise despite ongoing production cuts by the Organization of the Petroleum Exporting Countries (OPEC)

US crude production may rise and ease prices, says Hardeep Singh Puri

Government hoping to pass Oilfield Amendment Bill in upcoming winter session of Parliament, oil minister says

Custom duty hike on crude, refined oils to hugely benefit farmers

The government's decision to hike customs duty on crude palm and refined sunflower oil to 20 per cent and 32.5 per cent, respectively will "hugely" benefit farmers as it will increase their income, a senior official said on Saturday. The government official also said that the decision to remove minimum export price and slashing of export duty on onion too would help farmers of the country. According to a finance ministry notification, the basic customs duty on crude palm, soybean and sunflower seed oil has been increased from nil to 20 per cent. Basic customs duty on refined palm, soybean and sunflower oil has been hiked from 12.5 per cent to 32.5 per cent. The effective duty on these crude and refined oils will increase from 5.5 per cent to 27.5 per cent and from 13.75 per cent to 35.75 per cent, respectively. "These are big support for soya and oilseed farmers. Farmers from Maharashtra and Madhya Pradesh will get hugely benefited as they account for significant production of the

Copper, Crude Oil: Check key trading strategy, target price and more

On the daily chart, MCX Copper has been unable to sustain the breakout of its rising channel pattern and has moved down, forming a lower high, lower low pattern, indicating bearish sentiment

US sanctions on Russia's oil-shipping firms may leave India at sea

Washington is chipping away at the so-called shadow fleet that transports oil to China, India and Turkiye among others

Oil settles at highest in nearly eight weeks on strong economic growth

Both benchmarks made weekly gains of more than 6%, marking their biggest weekly increase since the week ending Oct. 13 after the start of the Israel-Hamas conflict in Gaza

Oil edges higher, on track for weekly gain on strong economic growth

Brent crude futures were up 53 cents, or 0.7%, at $82.93 a barrel by 1:48 p.m. ET (1848 GMT), and touched $83.57, their highest price since November

India cautious as West makes new plan for economic sanctions on Russia

US, EU could be moving to make it difficult for Russia to sell not only crude but other products

India's overdrive to trim fuel output investments threatens supply security

Oil ministry's plans involve a rapid exit from fuels without considering implications, writes S Dinakar

Refiners' crude processing hits 5-month low in April due to maintenance

In March, crude oil processed at 23 million tonnes was the highest since Reuters records going back to 2009