Page 3 - India Crude Oil
MCX Crude Oil can fall to Rs 5,900; Natural Gas may soon test Rs 500-mark
The MCX Crude Oil October futures are likely to test major support of 100-WMA around the Rs 5,900-level. Whereas, for the week, Rs 530-level is the key support for Natural Gas futures.
 "MCX Crude Oil can fall to Rs 5,900; Natural Gas may soon test Rs 500-mark")
Depreciating rupee not likely to cause fiscal slippage, say experts
Petroleum, fertiliser imports to become expensive, subsidy bill set to rise
 "Depreciating rupee not likely to cause fiscal slippage, say experts")
Explained: How have India's crude import sources changed over time?
The top three countries have changed significantly before and after the military action in Ukraine
 "Explained: How have India's crude import sources changed over time?")
Iraq leads with discounts as W Asia retains top slot in Indian oil market
Iraq, India's biggest crude oil supplier, maintained its lead over Russia in August, supplying 12-20 per cent more to India in the first 30 days of the month
 "Iraq leads with discounts as W Asia retains top slot in Indian oil market")
US urges India to join Western crude price cap coalition against Russia
US dy secretary of treasury Wally Adeyemo meet FM Sitharaman during the final lap of his three-day trip to India, after visiting RBI governor Shaktikanta Das on Thursday
 "US urges India to join Western crude price cap coalition against Russia")
India's crude oil imports from US dip by one million tonnes in June quarter
At the same time, share of Russian oil in India's crude basket rose from 2.2% in FY22 to 12.9% in the first quarter of FY22
 "India's crude oil imports from US dip by one million tonnes in June quarter")
Jaishankar defends India's crude import from Russia, calls it 'best deal'
EAM S Jaishankar, who is in Thailand, defended India's crude oil imports from Russia by terming it the "best deal" for the country
 "Jaishankar defends India's crude import from Russia, calls it 'best deal'")
Centre garners Rs 3,000 crore from windfall tax on oil and gas firms
It is likely to continue with the levy till the Indian basket of crude is above $80 a barrel
 "Centre garners Rs 3,000 crore from windfall tax on oil and gas firms")
Iraq discounts heavily to muscle out cheaper Russian oil in India
After a dip in market share, suppliers from the West Asian nation are discounting heavily to muscle out cheaper Russian oil
 "Iraq discounts heavily to muscle out cheaper Russian oil in India")
Nuberg Engineering to build Rs 650 cr SRU project at IOCL's Koyali refinery
Last year IOC had signed an MoU with Gujarat for adding petrochemical and lube plants to its previously announced plans to expand crude oil processing capacity at the refinery
 "Nuberg Engineering to build Rs 650 cr SRU project at IOCL's Koyali refinery")
MCX Crude Oil futures may drop to Rs 7,100; Natural Gas in oversold zone
The MCX Crude Oil has near support at Rs 7,740, below which it can slide towards the 200-DMA at Rs 7,100. Natural Gas may test Rs 410-odd level, while a bounce to Rs 500-odd level cannot be ruled out.
Russia may be India's biggest crude supplier in June, a historic first
Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude
 "Russia may be India's biggest crude supplier in June, a historic first")
Not India-related issue, says MEA on procurement of Russian crude oil
India once again asserted on Thursday that its procurement of crude oil from Russia is guided by its energy security requirements.
 "Not India-related issue, says MEA on procurement of Russian crude oil")
India's imports of cheap Russian crude surge since Ukraine invasion: Data
India received more than 24 mn barrels of Russian crude this month, up from 7.2 mn barrels in April, and is set to receive about 28 mn barrels in June, according to Refinitiv Eikon oil flows
 "India's imports of cheap Russian crude surge since Ukraine invasion: Data")
Best of BS Opinion: Crude economics, passive approach, and more
Here are the top BS Opinion articles of the day
 "Best of BS Opinion: Crude economics, passive approach, and more")
India's crude oil production falls 1% in April on account of lower output
India's crude oil production fell 1 per cent in April after lower output from fields operated by the private sector wiped away gains by state-owned firms such as ONGC, official data showed Tuesday.
MCX Crude Oil futures seem range-bound; Bias positive for Natural Gas
The MCX Natural Gas May futures are likely to trade with a bullish bias in May as long as the commodity holds above Rs 576-level.
Reliance buys 15 mn barrels of Russian oil amid Ukraine war: Report
Western sanctions against Russia since its Ukraine invasion have prompted many oil importers to shun trade with Moscow.
 "Reliance buys 15 mn barrels of Russian oil amid Ukraine war: Report")
India on its way to becoming global energy superpower: Hardeep Singh Puri
"Global energy superpower means we will set the pace for global consumption, becoming a significant producer by way of exploration and production of different sources of energy," he added
 "India on its way to becoming global energy superpower: Hardeep Singh Puri")
Govt indicates readiness to release more oil reserves amid Ukraine crisis
'Govt of India is ready to take all appropriate action, as deemed fit, for mitigating market volatility and calming the rise in crude oil prices,' MoS Rameswar Teli said
 "Govt indicates readiness to release more oil reserves amid Ukraine crisis")