India to use low priced oil from Saudi, UAE to fill strategic reserves

Oil prices have declined by more than 60 per cent since January with benchmark crude falling well below $30 per barrel, driven by an acute oil demand decline caused by the coronavirus and a lack of......

India makes first crude oil purchase for strategic reserve

India's fast-growing economy has become the world's fourth-largest oil consumer after the United States, China and Japan. India has bought the first oil for its strategic petroleum reserve (SPR),......

India's emergency oil stock storages face delay

India's emergency oil stockpile storage is facing a year's delay because of geological surprises encountered in construction of underground caverns that will be used to cushion the country against......