Oil India Limited
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Oil India strikes natural gas in third Andaman offshore well
State-run Oil India Limited (OIL) Friday said it has reported the presence of natural gas in its third exploratory well in the Andaman shallow offshore block, further indicating hydrocarbon potential in the region. In a regulatory filing to stock exchanges, the company said natural gas was encountered in the exploratory well Vijayapuram-3, drilled 15 km off the east coast of the Andaman Islands at a water depth of 355 metres in an offshore block under the Open Acreage Licensing Policy...
Watch: Oil India discovers natural gas deposit in Andaman basin; Puri hails find
Oil India Limited discovered the presence of natural gas in an exploratory well drilled in the Andaman Sea, marking a significant development in India’s offshore exploration efforts, announced union minister for petroleum and natural gas Hardeep Puri. The discovery has been made in the “Sri Vijayapuram-3” well, located about 15 km off the east coast of the Andaman Islands at a water depth of 355 metres. The well was drilled to a depth of over 1,900 metres in the Eocene formation, where...
US again throws India over the Russian oil barrel
TOI correspondent from Washington: US Secretary of State Marco Rubio has renewed pressure on New Delhi's purchases of Russian oil, telling Congress on Tuesday that the Trump administration wants to end “as soon as possible” sanctions waivers and special arrangements that have allowed countries such as India to import Russian oil Rubio’s remarks during a Senate Foreign Relations Committee hearing revive a familiar irritant in US.-India relations – one in which Washington's position has often...
Russian crude here to stay? Why India-US energy ties may be more about LPG, LNG than oil
US President Donald Trump announced in February that India would stop buying Russian crude oil and step up energy ties with the United States of America. Four months after that, India’s Russian oil imports are near record highs and the US still doesn’t feature among India’s top five crude suppliers. But notably, India has stepped up LPG and LNG imports.
Who is the Indian guru Venezuelan acting President Delcy Rodriguez follows?
Who is the Indian guru Venezuelan acting President Delcy Rodriguez follows? The Venezuelan interim leader, who is a devotee of Sathya Sai Baba, is in India as the two countries aim to boost energy ties. Delcy Rodriguez is in India for the first time since she became Venezuela’s interim president after democratically elected President Nicolas Maduro was abducted by the US military in January.
US allies reject Trump's call for help in Strait of Hormuz
The US President has repeated his call for other nations, particularly Nato allies, to help secure the Strait of Hormuz. Donald Trump says he has been surprised more world leaders were not "eager" to be involved in securing the key oil shipping route. Meanwhile, India has secured the safe passage of tankers carrying liquified petroleum gas, or LPG.
Keeping India's growth story intact: 5 lessons from Middle East conflict that should not be ignored
Led by a growing domestic demand and a favourable demographic dividend, the Indian economy and its growth story have been called fundamentally strong by economists. But short-term global economic shocks, like the ongoing Middle East conflict, have the potential to temporarily slow the growth story - a fact that cannot be ignored if India hopes to be among the top three world economies in the coming years. In its latest Economy Watch report, EY has pointed out the need for India to ‘recast...
Trump’s 12.5% additional tariffs move under Section 301: What does it mean for India
Two days after Commerce minister Piyush Goyal said that the India-US trade deal was now down to finalising the ‘commas and full stops’, the Donald Trump administration has proposed to impose additional tariffs on countries under its Section 301 probe. India is one of the many countries that has been named. The Section 301 probe launched by the US in March 2026 is a known variable in India’s trade deal talks with America.
Iran war impact: RBI likely sold $12bn gold reserves to shield foreign currency assets
Amid the ongoing US-Iran conflict, the Reserve Bank of India may have sold some of its gold holdings to protect foreign exchange reserves from the economic fallout of the Middle East situation, according to a report. India, the world's third-largest importer of crude oil, is facing mounting pressure on its foreign exchange resources as the conflict in the Middle East pushes up energy costs and weakens the domestic currency. To limit the impact of these external shocks, the government has...
Tax cuts, easier bond rules on the cards: How India plans to attract more foreign investment
In a bid to stem foreign capital outflow amid the Middle East crisis, the government is looking to do away with capital gains tax on foreign portfolio investors' holdings in government securities. The move will be part of efforts to attract greater overseas investment. The government is looking to cushion the economy from the impact of the ongoing Iran conflict.