Tag: Crude oil
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In a first, India pays in rupees for crude oil purchased from UAE – Times of India
[ad_1] NEW DELHI: India’s first-ever payment in rupees for crude oil purchased from the UAE is helping the world’s third largest energy consumer push for taking the local currency global, as it looks for similar deals with other suppliers, officials said, adding internationalisation is a process and there are no targets.With the nation more than…
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ONGC charges premium over Brent in oil deals with BPCL, HPCL – Times of India
[ad_1] NEW DELHI: India’s top oil and gas producer ONGC has signed term contracts with refiners to sell crude oil it produces from Mumbai offshore fields at a premium to international benchmark Brent, sources said. Oil and Natural Gas Corporation (ONGC) has signed deals to sell about 4.5 million tonne of crude oil each to…
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Oil tumbles 4% as Opec+ meeting on output cut ‘unexpectedly’ delayed
[ad_1] Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts. Brent crude futures was down $3.39, or 4.1%, to $79.06 a barrel by 1412 GMT. U.S. West Texas Intermediate (WTI) crude futures were down…
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Core sector growth hits 4-month low of 8.1% in September – Times of India
[ad_1] NEW DELHI: Growth in the country’s crucial infrastructure sector slowed to a four-month low in September but remained robust, led by a double digit expansion in the coal segment, data showed on Tuesday.The core sector, spanning coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, rose 8.1% in September, slower than…