First rupee payment for oil to UAE: India looks for more deals, no targets, says officials
Monday, 25 December 2023 India's first-ever payment in rupees for crude oil purchased from the UAE is helping the world's third largest energy consumer push for taking the local currency global, as it looks for similar deals with other suppliers, officials said, adding internationalisation is a process and there are no targets. With the nation more than 85 per cent dependent on imports for meeting its oil needs, India has been pursuing a three-pronged strategy of buying from the cheapest available source, diversifying sources of supply and not breaching any international obligation like the price cap in case of Russian oil.
US Setting Historic , Oil Production Record.
A recent report revealed that the United States
is currently on track to produce more oil
than any other country in history. .
CNN reports that the news comes
amid calls by activists for President
Joe Biden to phase out fossil fuels.
CNN reports...
Indian External Affairs Minister Dr S Jaishankar conveys greetings from PM Modi, discusses progress with Russian officials. He highlights trade progress exceeding $50 billion, emphasising the potential..
In a bid to showcase its indigenous weapon systems for potential export, India has successfully exhibited the capabilities of its Akash surface-to-air (SAM) weapon system. During the recent Exercise..
COP28 Funders , Pledge $2.1 Billion , to Reducing Climate Impacts.
ABC reports that foundations and other funders vowed to
step up their contributions to combating climate impacts,
with a focus on..
Credit: Wibbitz Top Stories Duration: 01:31Published
Monday, 25 December 2023
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