You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Why India is not worried of oil cartel

DNMUM418004 | 7/12/2018 | Author : Edit | WC :227 | Opinion & Viewpoint

DNA MONEY EDIT

Gone are the days when the global crude oil cartel could threaten big customers like India with price spurts. Trying to reduce dependence on crude requirement and steadily moving to electric vehicles (EV), India can now afford to issue a warning to the Organization of the Petroleum Exporting Countries (Opec), an inter-governmental organisation of 15 nations, that if they do not reduce prices, Indian consumers will scout for cost-effective alternatives such as electric vehicles and reduce consumption.
Of late, a near failure of India’s deep-sea drilling and exploration had led to a spike in its crude import. In 2017, it imported around 1.6 billion barrels of oil, about 80% of its requirement, mostly from Opec countries. Bloomberg
Read full story


Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on BUSINESS & ECONOMY

Sensex sheds 311 points, Nifty below 10700-mark
DNMUM432196 | 2/19/2019 12:00:00 AM | Author : DNA Money Correspondent | WC :191

Mumbai: Sensex and Nifty continued to fall on Monday as investor’s remained nervous on foreign fund outflows and geopolitical concerns.
The 30-share Sensex slipped 310.51 points, or 0.87%, ending at 35498.44 while the broader Nifty settled at 106
Add To LightboxCalculate Price

Use a step-up SIP to match your income
DNMUM432197 | 2/19/2019 12:00:00 AM | Author : Sandeep Bhardwaj | WC :748

Over the last three years the average Systematic Investment Plan (SIP) collection per month has almost doubled. During the year 2017-2018, SIP contribution accounted for around Rs 67,000 crore and the total number of active SIPs accounts stood at 2.5
Add To LightboxCalculate Price

Daimler India drives in first profit in 4 years on volume push
DNMUM432198 | 2/19/2019 12:00:00 AM | Author : Shahkar Abidi | WC :204

Mumbai: Four years after calling itself financially ‘sick’, Daimler India Commercial Vehicles (DICV), reported its first profit during the year 2018. Though the company did not disclose its profit figures, its sales volume grew by 35% in 2018 as agai
Add To LightboxCalculate Price

‘We will be considering Arcelor’s Essar offer’
DNMUM432199 | 2/19/2019 12:00:00 AM | Author : Sanjay Jog | WC :592

Power Finance Corporation (PFC) hopes to start a new inning in the power sector after the acquisition of Rural Electrification Corporation. In an interview with DNA Money, PFC CMD Rajeev Sharma told Sanjay Jog that the PFC-REC deal will create a fair
Add To LightboxCalculate Price