First shipment of United States crude lands in India

First shipment of United States crude lands in India”

In a move of diplomatic and economic significance, India on Monday received its first crude oil cargo of 1.6 million barrels from the USA at the Paradip Port, Odisha.

"It's a new chapter in the history of Indo-US trade, and for the oil and gas sector in both the countries", International Olympic Committee tweeted. According to the company, it received the shipment at Paradip port in Odisha.

The move will give India's Oil Minister Dharmendra Pradhan more leverage seeking a discount from the OPEC.

While the U.S. crude oil shipments to India have the potential to boost bilateral trade by up to $2 billion, this is one of the first shipments to India since the United States stopped oil exports in 1975. The idea was to stop domestic producers from getting their crude oil out of the country to boost domestic supply and keep domestic prices down. The IOC deal cames within weeks of Prime Minister Narendra Modi's June-end visit to the United States when President Donald Trump talked of his country looking to export more energy products to India.

The arrival of the crude is hailed as "a significant milestone in the growing partnership" between the USA and India.

IOCL, which became the first Indian public sector refiner to source US crude, has placed a cumulative order of 3.9 million barrels from the US.Indian companies, both public and private, have made sizeable investments in US Shale assets with a total investment of approximate Dollars 5 billion. "We look forward to working together on further sales of USA crude and exploring opportunities to expand the role of natural gas in India".

A logo of Indian Oil is picture outside a fuel station in New Delhi, India August 29, 2016. It will help India diversify its source for crude as well as provide some advantage while negotiating with the West Asian countries for hydrocarbons.

Since the meeting of Prime Minister Narendra Modi and President Donald Trump on June 26 in Washington, the two leaders agreed to expand and elevate bilateral energy trade and cooperation through a tactical partnership which is arranged to develop further as India looks to enhance the use of natural gas and expand its infrastructure for Piped Natural Gas (PNG) and Liquefied Natural Gas (LNG) used for cooking.

The second shipment will most likely happen after nine months. Senior Officials from the Ministry of External Affairs and Indian Oil were also present at the port. Officials here said the U.S. crude supply will help India to keep oil prices low and stable to benefit consumers.

Like this



03 Октября 2017
Analyst Research Roundup: Empire State Realty Trust, Inc. (ESRT), Energous Corporation (WATT)
BidaskClub upgraded Vornado Realty Trust from a "sell" rating to a "hold" rating in a research report on Tuesday, June 27th. If we checked the overall image of stock during recent quarter then we found that stock performance is trading up 18.03%.

03 Октября 2017
Millions more potentially affected by Equifax cybersecurity breach
Smith said the internal probe was complicated by the volume of data and the location of information across "various data tables". July 29: Equifax's security team observes suspicious network traffic on a USA online dispute portal web application.

03 Октября 2017
Uber's UK Head to Step Down Amid London Licensing Fight
The regulator decided not to renew Uber's London licence last month after it deemed the firm "unfit" to run a taxi service. Mr Khosrowshahi took over at Uber in August after predecessor Travis Kalanick resigned following a series of scandals.

03 Октября 2017
The DACA alternatives help no one
Rodriguez is open about her status in order to "show the world what undocumented immigrants and DACA recipients look like". It seems, however, that our reputation is once again threatened by the current administration, leaving many up in arms.

03 Октября 2017
Super Micro Computer (SMCI) Earning Somewhat Positive Press Coverage, Analysis Shows
Susquehanna upgraded it to "Positive" rating and $33 target in Wednesday, January 27 report. (NASDAQ:SMCI) for 27,730 shares. The stock of Super Micro Computer, Inc. (NASDAQ: SMCI ) has declined 1.14% since September 30, 2016 and is downtrending.

03 Октября 2017
Flu vaccine in Wales extended to Year 4 pupils
Harris said the vaccine can save lives, and encouraged all unions and health institutions to get behind the programme. The influenza vaccine takes about two weeks to begin offering full protection, but then lasts for about six months.

03 Октября 2017
Goldman Sachs fund arm to absorb cost of research under Mifid II
It increased, as 96 investors sold GS shares while 350 reduced holdings. 99 funds opened positions while 383 raised stakes. The Oregon Public Employees Retirement Fund holds 207,354 shares with $16.08M value, up from 190,654 last quarter.

03 Октября 2017
Invesco PLC (IVZ) Price Target Raised to $37.00
At the time of writing, Invesco Ltd. (NYSE:IVZ) has a Piotroski F-Score of 6. 77 funds opened positions while 154 raised stakes. Unlike P/E, the ratio isn't affected by the chosen depreciation methods, making it suitable for geographic comparison.

03 Октября 2017
Alliance Holdings GP, LP (NASDAQ:AHGP) Valuation According To Analysts
Acadian Asset Mngmt Ltd invested in 283,866 shares. 12 funds opened positions while 14 raised stakes. 3,400 are owned by Next Gru. Mountain Lake Investment Management Llc bought 236,500 shares as the company's stock declined 5.55% while stock markets rallied.

03 Октября 2017
Michelle Obama gets dragged by Trump supporters for reading Dr. Seuss books
While Soeiro's school is doing well, "school libraries around the country are being shuttered", Soeiro wrote in the blog post. In her letter, she explained how important education is for children and shared about her own family's enjoyment of Dr.