 "Core sector production plummeted 1.8% in August, driven down by coal, oil, and electricity, raising concerns for industrial growth.")
In August 2024, the production growth of eight key infrastructure sectors in India saw a decline of 1.8 percent. This downturn was primarily due to lower outputs in coal, crude oil, natural gas, refinery products, cement, and electricity. This is a significant shift from the growth rate of 6.1 percent recorded in July. Despite the ...
 "Gulf Oil International divests 4% stake in Gulf Oil Lubricants India for over Rs 263 crore, impacting share prices dramatically.")
Gulf Oil International Mauritius Inc. has successfully sold a 4 percent stake in Gulf Oil Lubricants India for over Rs 263 crore through open Market transactions. The sale involved approximately 1.95 million shares at an average price of Rs 1,351 each, lowering Gulf Oil International’s ownership from 71.76 percent to 67.8 percent. Notable buyers included ...
 "Crude oil prices plunge, prompting hopes for petrol and diesel price cuts in India after a prolonged freeze.")
Recent drops in crude oil prices have provided Indian oil Marketing companies with the opportunity to lower petrol and diesel prices by Rs 2-3 per litre, according to Icra. In September, crude oil prices averaged $74 per barrel, down from $83-84 earlier this year. Despite keeping fuel prices stable since March 2024, Icra suggests that ...
On September 23, 2024, Prime Minister Narendra Modi met Ukrainian President Volodymyr Zelenskyy in New York to discuss the ongoing Russia-Ukraine conflict and strengthen bilateral relations. The meeting, which marked their third interaction in recent months, focused on India’s role in promoting peace. Zelenskyy expressed gratitude for India’s support of Ukraine’s sovereignty and territorial integrity. ...
 "India’s palm oil import cancellations surge as refiners respond to soaring prices and increased duties, opting for profit over purchases.")
India’s palm oil refiners have canceled 100,000 metric tons of palm oil deliveries planned for October to December, reacting to a significant rise in global palm oil prices and a recent increase in import duties. The Indian government raised import taxes on crude and refined edible oils by 20 percentage points, pushing the total duty ...
 "Rupee rises to 83.70 against the dollar, boosted by lower oil prices and positive equity markets after US rate cuts.")
The Indian rupee appreciated by 6 paise, reaching 83.70 against the US dollar in early trade on Thursday. This boost came following the US Federal Reserve’s decision to cut interest rates, which positively influenced investor sentiment. Additional support for the rupee was provided by declining crude oil prices, strong performance in domestic equity markets, and ...
 "India’s oil minister vows to purchase low-cost Russian oil, navigating sanctions while aiming to boost energy independence and gas usage.")
India is poised to continue purchasing oil from Russian suppliers due to favorable prices, as confirmed by Oil Minister Hardeep Singh Puri. With Western sanctions on Russia limiting oil prices, India is determined to buy from the cheapest sources, highlighting that they are not alone in this approach, as countries like Japan and various European ...
 "Oil India Limited aims to drill 75 wells this year, expanding production as it navigates challenges in a volatile market.")
Oil India Limited (OIL) aims to drill over 75 wells this financial year as part of its ambitious drilling program, following a growth trend in the past years. The company reported a 6% net growth in crude oil and natural gas production despite a natural decline in existing sources. OIL targets an annual output of ...
 "Stock markets face uncertainty as investors react to global trends and await crucial economic data, with oil prices hovering low.")
On Wednesday, September 11, 2024, India’s stock Market is set to open cautiously, following global trends. The Sensex and Nifty indices are expected to show mixed results, with GIFT Nifty futures down 5 points at 25,092. Investors are closely watching oil prices, which are nearing three-year lows, and the recent OPEC cuts in crude demand ...
 "Legacy of Innovation: S M Vaidya’s Transformative Leadership at Indian Oil Ends")
S M Vaidya recently stepped down as chairman of Indian Oil Corporation (IOC) after a remarkable tenure that began in July 2020. With over 37 years of experience, he led IOC to impressive growth, boosting net profits from Rs 1,313 crore in FY20 to Rs 39,619 crore in FY24. Revenue also surged from Rs 5,66,354 ...
