Nidhi Verma

RPT-Mideast share of India's Sept oil imports falls to 4-month low - sources

9:43am IST

* India skipped oil imports from CIS after a gap of 3-1/2 yrs

Mideast share of India's September oil imports falls to four-month low - sources

21 Oct 2020

Middle East producers' share of India's market fell to a four-month low in September while that of Africa rose to one year high, according to data obtained from industry sources.

India asks at least eight state-run firms to consider buybacks, sources say

19 Oct 2020

NEW DELHI India has asked at least eight state-run companies to consider share buybacks in the fiscal year that runs through March 2021, two government officials said, as New Delhi scours for ways of raising funds to rein in its fiscal deficit.

India's October diesel sales rise above pre-COVID levels

16 Oct 2020

NEW DELHI India's gasoil sales rose in October for the first time since the nation imposed COVID-19 restrictions in late March, preliminary data shows, signalling a pick-up in industrial activity ahead of key festivals.

India allows UAE's ADNOC to export oil from strategic reserve

14 Oct 2020

NEW DELHI The Indian cabinet on Wednesday allowed Abu Dhabi National Oil Co (ADNOC)to export oil from its Mangalore strategic petroleum reserve (SPR), a minister said, marking a policy shift that could enhance foreign participation as India seeks to expand its storage capacity. Allowing ADNOC to export its oil mirrors a model adopted by countries such as Japan and South Korea which allow oil producers to re-export crude storage. India does not allow oil exports.

India moving 'cautiously' on BPCL's privatisation: Pradhan

13 Oct 2020

NEW DELHI India is "treading very cautiously" in its plan to privatise state-run oil refiner Bharat Petroleum Corp Ltd, Oil Minister Dharmendra Pradhan said on Tuesday, in a sign that the process could be delayed.

ONGC sees gas revenue hit by $1 billion due to price cut

09 Oct 2020

NEW DELHI A recent cut in Indian gas prices will wipe about $1 billion off Oil and Natural Gas Corp.'s (ONGC) revenue from its gas business in the current fiscal year ending in March, the company's finance chief said on Friday.

India introduces new gas marketing mechanism to help producers

07 Oct 2020

NEW DELHI India will let companies producing gas from new local fields sell the cleaner fuel on e-bidding platforms, oil minister Dharmendra Pradhan said on Wednesday, in a move expected to help them get better prices and boost output.

India's gas imports set to rise, demand reaches pre-pandemic level

05 Oct 2020

NEW DELHI India's gas imports are set to rise as GAIL (India) Ltd has reopened its western India imports facility after months of shutdown during the monsoon and as local demand has returned to pre-pandemic levels, its head of marketing said on Monday.

Reliance buys Canadian heavy crude to offset Venezuelan decline: sources

01 Oct 2020

WINNIPEG, Manitoba/NEW DELHI Reliance Industries has agreed to purchase 2 million barrels of Canadian heavy crude per month, three industry sources said, as a substitute for dwindling Venezuelan supply.

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