← Top stories
Expansion▲ Bullish for Indian Oil
UAE and Saudi Arabia show interest in investing in India’s refining sector
The brief
- India aims to raise refining capacity to **6.2-6.4 million barrels per day** from about 5.4 million
- UAE and Saudi Arabia are keen to invest in the sector, the minister said
- Potential investment could benefit Indian refiners as the country plans to expand capacity
| Stock | Traded | That day | vs Nifty | Volume | Since |
|---|---|---|---|---|---|
| IOC | Fri, 25 Sept | −0.4% | −0.8% | 1.0× | −0.4% · Nifty +0.3% |
✗ Classifier read this as positive; IOC fell 0.8% against the Nifty on the day it traded.
- Oil prices rebound after Trump rejects peace deal to resolve Iran conflict
- Crude oil price dips as traders weigh US-Iran Hormuz talks, supply risks
- Oil prices fall after Iran asks U.S. to return to failed memorandum of understanding from June
- Replacing 1 million bpd of Russian oil could cost India up to $3.7 billion annually
- Italy to Convene Oil Refiners as it Seeks to Boost Fuels Output
Saudi oil shipments through the Strait of Hormuz
Saudi Arabia increased crude shipments to Asian buyers, including India and China, as the Iran war and Hormuz crisis raised supply concerns. Ship-to-ship oil transfers in the Gulf of Oman have reached capacity amid the surge in exports.
Friday, 25 September
Thursday, 24 September
- UAE and Saudi Arabia show interest in investing in India’s refining sector