Petroleum
Reliance Industries Ltd, India's top importer of Russian oil, has stated that it will comply with Western sanctions targeting Russia's two largest oil companies. The conglomerate, chaired by billionaire businessman Mukesh Ambani, announced that it will adapt its refinery operations to meet the compliance requirements of
Petroleum
India, the second-largest crude oil importer in the world, is poised to significantly reduce its Russian oil imports as US sanctions on two major Russian oil producers take effect. The move is in response to the significant increase in global crude prices and shifting US-India trade dynamics. Reliance Industries, led
European Union
India's top oil companies, including Reliance and IndianOil Corporation, are set to reduce their purchases of Russian crude oil after the US imposed sanctions on two top Russian oil giants, Rosneft and Lukoil. The news sent global oil prices soaring by 5 per cent to a peak of
Exports
Oman's non-oil export sector has shown impressive growth in the first eight months of 2025, with electrical machinery and equipment witnessing the sharpest increase of 195.5%. This surge in exports, coupled with a 10.2% rise in chemical products and 12.1% growth in manufactured goods, has
Exports
The House of Representatives has initiated an investigation into the alleged non-repatriation of Nigeria's crude oil and non-oil export proceeds, estimated to be over $850 billion between 1996 and 2014. The investigation aims to uncover the reasons behind the significant breakdown in compliance with the Pre-shipment Inspection of
Imports
US President Donald Trump maintained his earlier assertion that India would soon stop buying oil from Russia, citing a specific figure of "about 40 percent of the (Russian) oil" by the end of the year, during a recent White House press conference. Trump drew parallels between India and
Petroleum
U.S. President Donald Trump reignited the controversy over India's Russian oil imports on Sunday, claiming that Indian Prime Minister Narendra Modi had assured him that India would stop buying Russian oil. This assertion was made just days after Trump said that Modi had made the same commitment
Petroleum
U.S. President Donald Trump reignited the controversy over India's Russian oil imports on Sunday, claiming that Indian Prime Minister Narendra Modi had assured him that India would stop buying Russian oil. This assertion was made just days after Trump said that Modi had made the same commitment
Modi, Narendra
India has maintained that its import policies are guided solely by the interests of its consumers in a volatile energy market, following US President Donald Trump's claim that Prime Minister Narendra Modi had assured him that the country would stop purchasing Russian oil. The Ministry of External Affairs
Exports
Kazakhstan, seeking to reduce its reliance on a single export route, is exploring alternative pipelines and partnerships to supply oil to European markets. The country has produced 87.7 million tons of crude oil in 2024, with 68.6 million tons exported, primarily through the Caspian Pipeline Consortium (CPC) pipeline.
Exports
Despite Iran's efforts to maintain its oil exports to China, the country's recent exports have shown a decline. Over the previous three months, Iran's oil exports averaged 1.52 million barrels per day (bpd), but this figure fell to 1.4 million bpd in
Petroleum
India-US trade deal negotiations are stalled due to American concerns about India's continued imports of Russian crude oil, with US trade negotiators indicating that a reduction in these imports is essential for finalizing a trade agreement. Indian officials have been informed by US trade representatives that addressing the
