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India's oil crisis rises: ONGC struggles to move Russian oil as sanctions bite

  • Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine, snapping up the popular Urals crude grade, while other buyers have shunned Russian exports.
ONGC has a 20% stake in the Sakhalin 1 project that produces a Russian grade known as Sokol, which ONGC exports through tenders.(REUTERS)
ONGC has a 20% stake in the Sakhalin 1 project that produces a Russian grade known as Sokol, which ONGC exports through tenders.(REUTERS)
Published on Apr 27, 2022 06:30 AM IST
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Reuters |

US warns India against increasing oil imports from Russia, says ‘great risk’

The US warning, indicating future possible sanctions, comes during Russian foreign minister Sergey Lavrov's India visit.
Present US sanctions on Russia do not deter other countries from buying Russian oil.(AP)
Present US sanctions on Russia do not deter other countries from buying Russian oil.(AP)
Published on Mar 31, 2022 09:55 AM IST
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By | Written by Poulomi Ghosh

Chinese petroleum giant plans to invest $31 billion in oil, gas in 2022

It plans to invest 81.5 billion yuan in upstream exploitation, especially the crude oil bases in Shunbei and Tahe fields, and natural gas fields in Sichuan province and the Inner Mongolia region.
A pump attendant refuels a car at a Sinopec gas station in Beijing, China,(REUTERS)
A pump attendant refuels a car at a Sinopec gas station in Beijing, China,(REUTERS)
Published on Mar 27, 2022 03:01 PM IST
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Reuters | , Beijing

India sees 3rd hike in petrol, diesel prices in a week. Check updates here

  • Petrol and diesel prices: Moody's Investors Services said that state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation (HPCL) together lost around 19,000 crore in revenue for keeping the prices on hold.
Petrol and diesel have seen an overall increase of <span class='webrupee'>₹</span>2.4 per litre after months-long hiatus. (Amal KS/HT PHOTO)
Petrol and diesel have seen an overall increase of 2.4 per litre after months-long hiatus. (Amal KS/HT PHOTO)
Published on Mar 25, 2022 07:20 AM IST
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Indian pharma companies may replace Western manufacturers in Russia, says envoy

India has been under tremendous pressure to choose a side in the ongoing conflict as the West continues to impose harsher sanctions on Russia to punish it over the Ukraine invasion.
Denis Alipov, Russian Ambassador to India.(ANI)
Denis Alipov, Russian Ambassador to India.(ANI)
Published on Mar 19, 2022 06:28 AM IST
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By | Written by Kunal Gaurav
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