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India’s August Trade Deficit Narrows as Gold Imports Plunge

By Uniquetimesorg September 16, 2026 0

India’s goods trade deficit unexpectedly narrowed to $26.86 billion in August, down from $31.98 billion in July, government data showed. The decline came mainly from a sharp fall in imports, particularly gold, even as merchandise exports slipped slightly from the previous month. Gold imports nearly halved to $2.3 billion from $4.16 billion in July, helping […]Continue Reading

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Modi, Putin Hold Talks in New Delhi on Trade and Defence

By Uniquetimesorg September 11, 2026 0

Prime Minister Narendra Modi and Russian President Vladimir Putin held talks in New Delhi on Friday, focusing on strengthening bilateral ties in areas including trade, energy and defence. The meeting comes just two weeks after the two leaders met on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek. The discussions are expected to […]Continue Reading

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Indian Shares Open Lower Amid Middle East Tensions and US Rate-Hike Bets

By Uniquetimesorg September 7, 2026 0

Indian shares opened lower on Monday after recording four consecutive weekly declines, as escalating tensions in the Middle East and growing expectations of a U.S. interest rate hike in September weakened investor sentiment. The Nifty 50 fell 0.19% to 23,852.55, while the BSE Sensex declined 0.17% to 76,383.49 by 9:23 a.m. IST. IT stocks led […]Continue Reading

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HPCL, MRPL Seek Up to 6 Million Barrels of Crude Oil

By Uniquetimesorg August 12, 2026 0

India’s state-run refiners Hindustan Petroleum Corp (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) are seeking up to a combined 6 million barrels of crude oil through spot tenders, according to documents reviewed by Reuters. The purchases come amid continued uncertainty in global oil shipping routes. HPCL is looking to import up to 4 million […]Continue Reading

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India Considers Gas Levy to Fund $42 Billion Strategic Fuel Reserve

By Uniquetimesorg August 6, 2026 0

India is considering imposing a small levy on cooking gas (LPG) and natural gas users to help fund a proposed $42 billion strategic fuel reserve programme, according to sources. The plan aims to strengthen the country’s energy security after supply disruptions during the Iran conflict exposed vulnerabilities in fuel imports. The proposed reserve would, for […]Continue Reading

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Indian Refiners Secure Middle East, African Crude

By Uniquetimesorg August 5, 2026 0

Indian refiners have increased crude oil purchases from the Middle East and West Africa, with Mangalore Refinery and Petrochemicals Ltd (MRPL) buying one million barrels of Oman crude through a tender, according to trade sources. The cargo was reportedly purchased at a premium of around $3 per barrel over the dated Brent benchmark. State-run Indian […]Continue Reading

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HPCL Buys West African Crude for Rajasthan Refinery

By Uniquetimesorg August 4, 2026 0

Hindustan Petroleum Corporation Limited (HPCL) has purchased two million barrels of crude oil from West Africa through a tender for its 180,000 barrels-per-day Rajasthan refinery, according to trade sources. The cargo is expected to arrive in late September. The deal includes Nigeria’s Okwuibome and Utapate crude grades, which were bought from commodity trader Glencore. Continue Reading

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ONGC to Reserve Half of New Oil Storage for Strategic Needs

By Uniquetimesorg August 3, 2026 0

India’s Oil and Natural Gas Corporation (ONGC) will allocate half of its planned 1.75 million metric tonne oil storage facility at Mangaluru for the country’s strategic petroleum reserves. The move is part of India’s broader effort to strengthen energy security and expand its emergency crude oil storage capacity through public and private participation. Continue Reading

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Indian Oil Boosts Spot Crude Purchases Amid Middle East Supply Disruptions

By Uniquetimesorg August 1, 2026 0

Indian Oil Corporation (IOC), India’s largest oil refiner, has significantly increased its spot crude purchases to offset supply disruptions from the Middle East, according to the company’s finance head, Anuj Jain. Spot purchases have risen from 50% to nearly 84% as the company continues to monitor global developments and adjust its sourcing strategy. The shift Continue Reading

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Freight Rates for Russia’s Urals Oil Shipments to India Drop as Tanker Availability Improves

By Uniquetimesorg July 11, 2026 0

Freight rates for transporting Russia’s Urals crude oil to India have declined in July as more oil tankers became available and seasonal demand eased, according to industry sources. The drop in shipping costs offers some relief to Russian oil exporters, who have been facing lower profit margins due to weaker demand for Urals crude in […]Continue Reading