Imports of crude oil from Middle Eastern countries reduced after India's request was denied

-

MUMBAI: India's crude oil imports from the Middle East hit a six-month low in May. The government's instruction to rely on other markets for crude oil supply in the country has resulted in a decline in oil imports from Middle Eastern countries.

The Organization of the Petroleum Exporting Countries (OPEC) and Saudi Arabia ignored the government's request to ease restrictions on crude oil supplies to India, and the government instructed refineries to look to other markets for crude oil imports.

Saudi Arabia is a major exporter of crude oil. India is the third largest importer of oil in the world. In May, India's daily crude oil imports stood at 3 lakh barrels per day. The share of Middle Eastern countries in these imports fell to 8.50 per cent, the lowest since April 2016. In April, 2.50 per cent of India's total crude oil imports came from the Middle East.

Saudi Arabia, India's second-largest supplier after Iraq, has seen its imports fall by 5 per cent year-on-year. In addition, supply from the United Arab Emirates has declined by 3%.

The UAE, which was the third largest supplier in April, slipped to seventh place. OPEC's share of India's crude oil imports has reached record lows as a result of India's low imports from Middle Eastern countries.

India's refineries have looked to the United States and the Mediterranean region as an alternative to the Middle East.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more