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Russian state-owned oil firm Rosneft has signed a deal worth $13bn (£10bn) a year selling oil to Indian refiner Reliance in a blow to sanctions against Vladimir Putin’s government.. The 10-year ...
Many of the tankers have been used to ship oil to India and China as Western sanctions and a price cap imposed by the Group of Seven countries in 2022 shifted trade in Russian oil from Europe to Asia.
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(Yahoo! News) Spišská Stará Ves school stabbing. Two women are killed and a third is injured in a mass stabbing at a school in Spišská Stará Ves, Slovakia. The perpetrator is arrested. (Devdiscourse) Two homeless people are killed and two others are injured in a mass stabbing attack in Miami, Florida, United States. A 30-year-old suspect ...
The Gulf War in 1990 caused a sharp rise in oil prices and a massive increase to India's imports. During the subsequent 1991 Indian economic crisis , foreign exchange reserves could barely finance three weeks' worth of imports while the government came close to defaulting on its financial obligations.
Oil India was formed in 1959 to operate this new field and other nearby concessions, with Burmah Oil holding 2/3rd equity holding and Government of India holding 1/3rd equity. Later in 1961, this was changed to 50/50 shareholding. In 1982, Burmah Oil transferred all its shares to Government of India and Oil India became 100% Government owned.
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