US slaps sanctions on Chinese refinery for buying Iranian crude oil worth over USD 1 bn

Apr 16, 2025

The US imposed sanctions on Wednesday on Shandong Shengxing Chemical Co., Ltd, a Chinese refinery, for buying over USD 1 billion worth of Iranian...

Reliance Industries denies reports of buying Iranian crude

Mar 26, 2026

Reliance Industries Limited on Thursday rejected reports in a section of the media claiming that it had purchased crude oil of Iranian origin, calling...

US Treasury eases oil sanctions on Iran till April 19; temporarily permits sale of Iranian crude and refined products into US

Mar 21, 2026

Amid the heightened geopolitical tensions and concerns over disruptions to energy flows through the Strait of Hormuz, the United States on Friday (local time)...

Duty reduction on crude edible oils beneficial for both refiners, consumers: CareEdge

Jun 22, 2025

On May 30, 2025, the government announced a reduction in the Basic Customs Duty (BCD) on key imported crude edible oils -- Crude Palm...

Iranian supertanker breaches "blockade line" after offloading 2 million barrels of crude oil

Apr 21, 2026

An Iranian supertanker successfully bypassed a US naval blockade to deliver 2 million barrels of crude oil via the Riau Archipelago. While Tehran hails...

Industry body urges Centre to allow futures trading in crude palm, soybean oil

Nov 25, 2024

Edible oil industry body has once again requested the government to reconsider resuming futures trading in internationally traded commodities like crude palm oil and...