oil | inves4: Indian Equity Investing

Russia oil sanctions: How EU ban on Russian-origin oil imports will hit India’s fuel exporters – what the legal text says

Stringent classification of Russia-origin fuels could create difficulties for Indian exporters. (AI image) Russia oil sanctions impact: Indian exporters will likely face challenges from the European Unin’s decision to sanction oil supply with Russia as its source of origin. The European Union’s ban on Russian crude-derived fuels, set to take effect from January 21 next … Read more

IndiGo imposes Rs 300-Rs 1,000 ‘fuel charge’, others set to follow suit | India News

Domestic market leader IndiGo will levy a distance-based “fuel charge” ranging from Rs 300 to Rs 1,000 on all its flights due to increase in aviation turbine fuel (ATF) prices. This comes into effect from today. While comments were sought from other airlines, SpiceJet said it will levy a fuel charge without giving details. Other … Read more

Oil Will Rise to $100 by Third Quarter Amid China Reopening: Goldman Sachs

Goldman Sachs expects oil prices to jump to $100 a barrel by the third quarter of 2023. The bank said China’s reopening was likely to add 1.6 million barrels a day in demand to the market. Goldman’s Nikhil Bhandari said supply was unlikely to keep up after underinvestment in recent years. Goldman Sachs sees oil … Read more

Joe Biden vows ‘consequences’ for Saudi Arabia after OPEC+ cuts output

President Joe Biden said on Tuesday there will be “consequences” for Saudi Arabia as the Riyadh-led OPEC+ alliance moves to cut oil production and Democratic lawmakers call for a freeze on cooperation with the Saudis. Biden suggested he would soon take action as aides announced that the administration is reevaluating its relationship with the kingdom … Read more

Government approves deregulation of domestically produced crude oil

The Union Cabinet on Wednesday approved deregulation of sale of domestically produced crude oil in a bid to remove irregularities and boost revenue. Briefing the media on the decisions take by the Cabinet, minister Anurag Thakur said that the move will ensure marketing freedom for all exploration and production (E&P) companies. The provision will come … Read more

Warren Buffett’s Berkshire buys more Occidental shares, raises stake to 16.4%

Warren Buffett’s Berkshire Hathaway plowed another $44 million into Occidental Petroleum, boosting its bet on the oil-and-gas firm to about $9 billion. With the purchase of another 794,389 shares of Occidental Petroleum Corp for about $55.40 each, the conglomerate now holds nearly 16.4% stake in the Houston, Texas-based oil firm. In a regulatory filing, Berkshire … Read more