MNI BRIEF: China to Incentivise Equipment Upgrades, Trade-Ins

MNI: PBOC Drains Net CNY148 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0957 Tues; -4.95% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.0957 TUES VS 7.0938

MNI China Daily Summary: Monday, April 1

NBP Watch

MNI Projects Soft National CPI M/M Print, But Core Disinflation Slow

UK MAR MANUFACTURING PMI 50.3 (FLASH 49.9); FEB 47.5

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

India Sees Oil Challenges As Opportunity For Affordable Energy

OIL

India hopes to convert the current global oil challenges into an opportunity to secure affordable energy according to Oil Minister Hardeep Singh Puri yesterday. India has already diversified its supply of crude oil this year and is not solely reliant on Russian purchases

  • India imports about 85% of its oil requirements and has significantly increased imports of cheaper Russian crude this year. India now sources crude from 39 countries compared to 27 last year with the main supplies of Iraq, Saudi Arabia, UAE, Kuwait and Russia.
  • "At this time, the worry is not about from where we will get energy," Puri said at a broadcaster Times Now summit.
  • "It is a global challenge but we have and we will convert this into an opportunity. And I don't foresee any difficulty in procuring energy and securing at affordable prices."
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.