India Seeks Billions In Foreign Loans To Offset Rising Costs Of Oil
India gave the green light to businesses hurt by the rising costs of crude oil to start borrowing up to $10 billion in foreign money that will offset the heavy Continue Reading
Vedanta to invest $4 billion in India block to boost output
India’s Vedanta Ltd is investing $4.1 billion to boost oil output from its flagship Barmer block in the desert state of Rajasthan to over 400,000 barrels per day (bpd) in Continue Reading
India will continue to buy Iran’s oil: Iranian foreign minister
India is committed to buying Iranian oil and continuing the two nations’ economic cooperation, the Iranian foreign minister said after a meeting with his Indian counterpart and ahead of U.S. Continue Reading
The Biggest Wildcard In The Iran Sanctions Saga
In the last 24 hours there have been two fascinating media reports about the Iran sanctions: one is a Bloomberg story saying Indian refiners will not buy any Iranian crude Continue Reading
India Builds Up Strategic Oil Reserve
India will soon start looking for investors in the second phase of its strategic petroleum reserve, a senior executive of the company managing the reserve told Reuters. The second phase Continue Reading
India’s oil demand to climb to 500 mln tonnes per year by 2040: Indian Oil
India’s crude oil demand is forecast to grow to 500 million tonnes per year by 2040, but persistent increases in oil prices might act as a dampener for the rate Continue Reading
Exclusive: As oil forecasts call for $100, India considers cutting back crude imports
With oil traders forecasting crude oil to rise to $100 a barrel by the end of the year, Indian refiners are considering cutting back their imports and relying more on Continue Reading
Nepal restores $2.5 billion hydropower plant contract to Chinese firm
Nepal’s new government has reversed its predecessor’s decision and has asked China Gezhouba Group Corporation to build the nation’s biggest hydropower plant, an official said on Sunday, as it seeks Continue Reading
Exclusive: Indian Oil Chairman says refiners are considering using crude inventories to cut imports
Indian refiners are considering using their oil inventories to cut import costs as global oil prices have risen to about $80 a barrel and the Indian rupee has plunged, said Continue Reading
Reliance Shuts Down Oil Field On Production Decline
India’s Reliance Industries has shut down an oil and gas field in the offshore Krishna-Godavari basin after its production rates began to decline several months ago, the company said in Continue Reading