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  • Insight: Obscure traders ship half Russia’s oil exports to India, China after sanctions

    A Liberian-flagged oil tanker set sail in May from Russia's Ust-Luga port carrying crude on behalf of a little-known trading company based in Hong Kong. Before the ship had even reached its destination in India, the cargo changed hands. The new owner of the 100,000 tonnes of Urals crude carried on the Leopard I was a similarly low-profile outfit, Guron Trading, also based in Hong Kong, according to two trading sources.

  • Qatar’s QIA in talks for minority stake in India’s Reliance Retail – FT

    Qatar's sovereign wealth fund is in talks to buy a minority stake in the retail arm of Indian billionaire Mukesh Ambani-led conglomerate Reliance Industries (RELI.NS), the Financial Times reported on Wednesday. The Qatar Investment Authority is considering a $1-billion investment in Reliance Retail Ventures, for a stake of about 1%, valuing the business at around $100 billion, the reportsaid, citing three people with knowledge of the discussions. The report sent shares of its parent Reliance Industries (RELI.NS) up as much as 2.1%, its biggest percentage jump in over a week.

  • Two airlines dominate India’s growing market

    Last month at the Paris Airshow, India’s budget airline IndiGo placed an order of 500 A320neo aircraft from Airbus, making the multibillion-dollar deal the largest by a single carrier in civil aviation history. Earlier in the year in February, the newly privatized Air India had placed an order of 470 narrow and widebody jets from both Boeing and Airbus.

  • Saudi Aramco exploring investment opportunities in India, CEO says

    Saudi Aramco, the world’s largest oil-exporting company, is looking for investment opportunities in India amid a surge in crude demand in the South Asian country, its president and chief executive has said. In terms of crude imports, both China and India – two large oil-consuming countries – have surpassed pre-pandemic levels, Amin Nasser said during the Opec International Seminar in Vienna on Wednesday.

  • Egypt Gives Highest Honor to India’s Modi as Ties Improve

    Egyptian President Abdel-Fattah el-Sissi on Sunday bestowed Indian Prime Minister Narendra Modi with Egypt's highest honor as the two countries tightened their partnership. El-Sissi welcomed Modi at the presidential palace in Cairo with the Order of the Nile, the Egyptian presidency said in a statement. The leaders signed a declaration elevating Egyptian-Indo ties to a "strategic partnership," which means the two nations agreed to intensify their cooperation and hold periodic talks, the statement said.

  • Saudi Aramco sees ‘sound’ oil outlook for H2 on China, India demand

    Saudi Aramco (2222.SE) believes market fundamentals remain "sound" for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering on Monday. But other executives at the Energy Asia conference in Kuala Lumpur were divided, with Malaysia state oil firm Petronas reporting a slowdown in demand for petroleum and petrochemicals in the second quarter and growing refinery capacity putting pressure on the market.

  • Saudi minister attends G20 tourism meeting in India 

    Saudi Arabia’s tourism minister has taken part in the G20 Tourism Ministerial Meeting in Goa, India. Ahmed Al-Khateeb told the meeting that the Kingdom supported India’s “Goa Tourism Plan” to sustainably grow tourism industries. He said the plan was consistent with the Kingdom’s tourism strategy, the Saudi Press Agency reported.

  • As Biden, Modi meet, GE clinches India jet deal

    Biden is rolling out the red carpet for Modi, treating him to a colorful White House South Lawn arrival ceremony on Thursday morning followed by Oval Office talks and a glittering state dinner in the evening. The two leaders held a private, intimate dinner at the White House on Wednesday night.

  • India’s Russian oil buying scales new highs in May

    India's rising imports of Russian oil hit a record high of about 1.95 million barrels per day (bpd) in May denting purchases from Iraq and Saudi Arabia fell, tanker data from trade and industry sources showed. India, the world's third biggest oil consumer and importer, buys more than 80% of its oil from overseas markets. Its refiners have been gorging on Russian oil since the West imposed sanctions over Moscow for its invasion of Ukraine.

  • As Modi Preps for US Visit, Mideast Leaders Study India’s Nonalignment

    Arguably, the inflection point in U.S.-India relations was India’s testing of five nuclear devices in 1998. While the immediate aftermath was U.S. sanctions, the longer-term result was a Bush administration effort to embrace India that Bush’s successors have continued. Proof of success is the way the United States continues to praise India as the world’s largest democracy despite starkly illiberal approaches to India’s religious minorities. U.S. diplomats quietly complain that whatever it does, India seems to get a bye.