India’s Oil and Natural Gas Corporation (ONGC) is considering purchasing additional stakes in Russian oil and gas fields from Western firms that plan to leave the country, the Economic Times (ET) reported on Thursday, citing people familiar with the matter. The move comes even as the Indian company’s first bid …
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US president Joe Biden’s administration intends to woo India into slowing down its defense cooperation with Russia by offering New Delhi a military assistance package that could be worth as much as $500 million, Bloomberg reported on Tuesday, citing anonymous sources. Russia has long been a major provider of arms to …
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India has prohibited all exports of wheat with immediate effect, the country’s Ministry of Commerce and Industry announced on Friday. The ministry said the drastic move was necessary due to “a sudden spike in the global prices of wheat arising out of many factors, as a result of which the …
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The Indian Air Force successfully conducted a missile test on Thursday, when one of its Russian-made Sukhoi fighter jets, from the Tiger Sharks squadron, took off from the Thanjavur airbase in Tamil Nadu, underwent mid-air refueling and then fired an air-to-ground extended-range BrahMos missile, hitting a designated target in the …
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Indian refining giant Reliance Industries has shelved plans for repair operations at the world’s biggest oil refining complex as the company is striving to churn out more oil products since the margins on them have recently surged to three-year highs, Bloomberg reports. The company has been purchasing discounted cargoes of …
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Russia’s state-run oil giant Rosneft has reportedly sold a large shipment of crude to India as the South Asian nation keeps boosting energy imports from the sanctions-hit country. Indian Oil Corp (IOC), the country’s top refiner, purchased 700,000 tons of Russian Urals crude, two traders familiar with the matter told …
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India’s Permanent Representative to the United Nations, TS Tirumurti, has accused the Netherlands of “patronizing” his country after the Dutch ambassador to the UK publicly scolded New Delhi for abstaining on UN General Assembly resolutions on the war in Ukraine. “Kindly don’t patronise us, Ambassador. We know what to do,” …
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India is trying to get deeper discounts on Russian oil to compensate for increased trade risks when dealing with Moscow amid Western sanctions, Bloomberg reported on Wednesday, citing people with knowledge of the matter. According to the report, the South Asian country is seeking Russian crude at less than $70 …
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Moscow has reportedly proposed a plan for India to pay for Russian oil in US dollars or euro, while using a rupee-ruble-denominated mechanism for other goods. The new mechanism is designed to allow more trade in local currencies as economic pressure mounts on Russia over its military operation in neighboring …
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India has asked state-run energy companies to evaluate the possibility of acquiring oil major BP’s stake in sanctions-hit Russian firm Rosneft, sources told Reuters on Thursday. BP had earlier announced it was abandoning its 19.75% stake in the Russian company. Sources familiar with the matter said that the Indian oil …
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