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Oil refiners face dilemma as surging freight costs kill margins

Crude processors are now faced with a dilemma: to buy and ship crude at much higher prices and risk low or no profits, or to cut operating rates and jeopardize supply of fuels over winter.

Updated on Oct 15, 2019, 7:15 AM IST

World’s largest oil processing facility in Saudi hit by drone strikes, Yemen rebels claim attacks

Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia, September 14, 2019

Updated on Sep 14, 2019, 2:53 PM IST

India rethinks buying US armed drones

The army and air force had plans to buy 10 Predator-B drones each and the navy, its long-distance surveillance versions.

Updated on Jun 5, 2020, 8:38 PM IST

Release detained crew: India to UK, Iran

There are 24 Indians in the crew of the Iranian tanker Grace 1, which was boarded by British marines off Gibraltar on July 4.

Updated on Jul 26, 2019, 3:55 AM IST

Iran tries to seize British tanker in Persian Gulf: Report

Iranian Islamic Revolutionary Guard Corps boats attempted to seize a British oil tanker in the Persian Gulf, CNN reported, amid heightened tensions in the region. Iran denied the report.

Updated on Jul 11, 2019, 12:02 PM IST

Why an escalation in US-Iran tensions should worry Delhi

In this June 13, 2019, file photo, an oil tanker is on fire in the sea of Oman. A series of attacks on oil tankers near the Persian Gulf has ratcheted up tensions between the US and Iran -- and raised fears over the safety of one of Asia’s most vital energy trade routes, where about a fifth of the world’s oil passes through its narrowest at the Strait of Hormuz. The attacks have jolted the shipping industry, with many of operators in the region on high alert

Published on Jul 9, 2019, 7:58 PM IST

India, US vow to work as friends to resolve issues

Though there were no concrete announcements on the issues of divergence, the visit set the stage for a bilateral meeting between Modi and US President Donald Trump on the sidelines of the G20 Summit in Osaka, Japan on June 28-29. (Arvind Yadav /HT photo)

Updated on Jun 27, 2019, 12:28 AM IST

India deploys warships in Persian Gulf region

The decision has come on a day when Iran shot down a US naval surveillance drone near the Strait of Hormuz, adding to the already volatile situation. Iran claimed that the drone had violated Iranian airspace, a fact that was denied by the US.

Updated on Jun 21, 2019, 8:53 AM IST

‘Iran build-up only for deterrence’: Officials tell US Congress

Emerging from those closed-door sessions, lawmakers seemed unconvinced both about the intelligence and the administration’s plans.

Published on May 22, 2019, 10:43 PM IST

Even misinterpretations can trigger a US-Iran war at this juncture

John Bolton, the US national security advisor, has been an advocate of regime change in Iran

Published on May 16, 2019, 6:49 PM IST

Two Saudi tankers came under ‘sabotage attack’ off UAE right after US warning

News came as the US issued a new warning to sailors and the UAE regional allies, reporting the sabotage of four ships in Fujairah.

Updated on May 13, 2019, 10:33 AM IST

As yield dips, no Valentine’s Day cheer for rose growers in Tamil Nadu

Roses for exports in Krishnagir district of Tamil Nadu.

Updated on Feb 14, 2019, 1:32 PM IST

Rupee logs biggest single-day gain in 5 years, leaps 100 paise on crude respite

Besides, a bullish trend in the equity market and fresh foreign fund inflows provided support to the domestic currency, which has witnessed a massive 150 paise rise in the last two trading sessions.

Published on Nov 2, 2018, 8:00 PM IST

India to cut imports of Iranian oil to zero in November

A view of an oil facility in the Khark Island, on the shore of the Gulf. India is joining other Asian buyers such as South Korea and Japan that have already halted imports from the Persian Gulf state before American restrictions take effect in early November.

Updated on Sep 26, 2018, 5:00 PM IST

Iran replaces Saudi Arabia to become second-biggest oil supplier to India

India, Iran’s top oil client after China, shipped in 5.67 million tonnes or about 4,57,000 barrels per day (bpd) of oil from Iran in the first three months of this fiscal year, petroleum minister Dharmendra Pradhan told lawmakers in Lok Sabha in a written reply.

Updated on Jul 23, 2018, 9:03 PM IST

India has ‘Plan D’ to deal with Trump’s sanctions on Iran oil supply

Sanjiv Singh, chairman of Indian Oil Corp, poses for a photograph in New Delhi. Saudi Arabia alone can cover most of the world's supply shortfall in case Iran's oil exports dry up. Also a narrowing spread between Brent crude and Dubai oil gives Indian Oil even more options, Singh said.

Updated on Jul 3, 2018, 11:39 AM IST

Bahrain revokes citizenship of 115 Shia anti-government protesters in mass trial

Bahraini woman walks past images of political prisoners plastered on a wall in Sanabis, Bahrain.

Updated on May 15, 2018, 7:21 PM IST

Southern Iran hit by magnitude 5.5 earthquake, no casualties reported

Representational Image

Updated on Apr 19, 2018, 1:59 PM IST

Britain’s famed Queen Elizabeth 2 ship is now a floating hotel in Dubai

The ship was restored at a cost of over $100 million.

Published on Apr 17, 2018, 7:08 PM IST

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