Russia’s share in India’s crude oil imports soars to 19% in FY23
Country-wise crude oil import data shows Russia gaining the biggest share of the crude pie in FY23
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Russian crude absorbs India's boiling inflation
CPI declined to 6.77% in October from 7.41% in September when Russia topped the chart of India's oil suppliers.
Petrol, diesel prices to rise after OPEC oil production cut
OPEC Plus – a grouping of 23 oil-rich countries -- is meeting in Vienna on Wednesday to discuss a major production cut for the first time since March 2020.
India's trade deficit up 3x in July at $31 bn
India has maintained its exports in July despite anti inflationary measures and continued disruptions in supply chains due to Covid and Russia-Ukraine conflict.
Halting Russian oil imports will jack up international crude prices: Govt
The government warned that many countries in the immediate neighbourhood are facing severe fuel shortages and chaos due to high fuel inflation.
India’s foreign exchange reserves at lifetime high
The big question is how much more foreign exchange will the Reserve Bank of India buy, and why?
Reducing India’s crude oil import dependency
The government has devised a three-pronged strategy to bring down its crude oil import bill and achieve energy security.
By 2030, half of new sales will be natural gas vehicles
A study by the institute says the number of natural gas vehicles in India is expected to shoot up to 33 million by 2030 from 3.3 million in 2019—a 900% rise.
Modi’s Iranian trump card under threat
Iran was India’s big bet towards energy security and safe haven from crude oil price shocks. With the U.S. insisting on zero imports from Iran, the government is left with an unwelcome conundrum.
