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PPT agrees to handle marine products cargo

PPT agrees to handle marine products cargo

From the end of September, Pradip Port Trust (PPT) agreed to handle export cargo of seafood or marine products through a designated container yard. The yard would handle marine products and refrigerated container cargo. The port authority agreed to handle the marine cargo during a meeting with the officials of the Seafood Expo

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India, Japan to conduct study on LNG pricing

India, Japan to conduct study on LNG pricing

In order to bring about rationalization of liquefied natural gas (LNG) prices in Asia Pacific, India and Japan would carry out a joint study on the matter. The study would focus right pricing of the fuel to secure long-term contracts at competitive rates. The proposal to conduct the study was mooted on the b

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Iran may not favour export of more oil to India

Iran may not favour export of more oil to India

Media reports indicate that Iran is not favourable to India's proposal for increase crude oil import from the Persian Gulf nation. This is because Iran does not import enough commodities from India to compensate for its rise in crude oil export to

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Price of sponge iron set to rise further

Price of sponge iron set to rise further

Rising demand for sponge iron may put upward pressure on the price of the steel-making raw material, reports indicate. Demand for sponge iron has increased after steel companies started using this in a greater quantity in place of steel scrap

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India to import crude oil from Iran

India to import crude oil from Iran

India will import crude oil from Iran to counterbalance any supply disruptions arising from imminent strikes by the US on Syria. The country has ruled out any considerable impact on IndiaÂ’s crude oil import supply in the event of US strikes on Syria. Prices of oil in the global markets have been hiked with the reports of imminent US strikes on Syria.

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Price of crude oil rises due to rupee weakness

Price of crude oil rises due to rupee weakness

The steep decline in the value of Indian currency raised the price (in rupee terms) of crude oil imported by India. Further, global factors like higher demand, low OPEC spare capacity and improved economic outlook for 2013 raised the price of crude oil in dollar terms. For example, the Brent crude oil futures rose to a two-year high of $110.51 a barrel recently. Brent for sweet grad

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Iraq denies crude oil at special price to India

Iraq denies crude oil at special price to India

Iraqi Deputy Prime Minister for Energy Hussain Ibrahim Saleh al-Shahristani said the country could not sell crude oil at a concessional price to India as its laws do not allow such a move. Iraq is the second-largest supplier of oil to India, which imports about 20 million tonne of crude oil from the gulf nation annually

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Govt may help firms insuring oil import from Iran

Govt may help firms insuring oil import from Iran

Media reports indicate that the union finance ministry plans to cover half of a proposed Rs 40 billion fund for underwriting the import of crude oil from Iran. It may be recalled that the union oil ministry and local insurers decided to contribute Rs 10 billion each to the proposed fund