US Sanctions 4 Indian Companies for Links to Iran Oil Trade The US has imposed sanctions on 16 companies and ships for business with Iran’s petroleum and petrochemical industry. Three of them are said to be India-based. On February 24, the American government stated that, at a minimum, it is acting against eight firms exporting ...

Business tycoon Mukesh Ambani had to bear one of his worst stints in business as the sinking price of oil wiped his assets by $73 billion with him losing as much as $5 billion recently. Stocks could see the hit with them falling by 6.8%, making it the worst slip since May 2020.  Considered as ...

Despite the economy showing signs of progress and recover post a long 90 day lockdown period, India’s fuel consumption is not going seeing an upward movement. Blame it on many corporate still opting to work from home, the demand for fuel has not gone by since June 2020. According to government data, the demand has ...

India might have discovered a self reliance formula to recover from the lockdown but its oil refineries are dwindling thumbs; wondering how to traverse a rock bottom low consumption. Stockpiles continue to swell in a demand that has gone back to stone age. According to Bloomberg reports, operations across 23 refineries nationwide are reported to ...