Auto Industry News

The United States had constructive talks with Indian officials on a proposal to cap prices of Russian oil, U.S. Deputy Treasury Secretary Wally Adeyemo said on Friday, as it seeks global support for a proposal to cut Russian revenue.

The Indian rupee eased for the third week running, as pressures from firmer oil prices and the dollar blunted some of the optimism from a report about adding the Asian nation to a coveted emerging-market bond index.

India's GAIL (India) Ltd has set a 2040 target to achieve net zero carbon emissions from its operations, Chairman Manoj Jain told the gas distributor's annual shareholders' meeting.

Yemen's HSA Group became the first private entity to pledge funds for a United Nations operation to avoid an oil spill from a tanker stranded off the coast of Yemen, as the U.N. urgently tries to secure an initial requirement of $80 million.

Many global oil traders and banks have stopped dealing with Indian refiner Nayara Energy, a Rosneft affiliate, as they are worried about Western sanctions over Russia's invasion of Ukraine, two people with knowledge of the matter told Reuters.

Indian government bond yields ended higher for a fifth consecutive session, as crude at $100 raised fears inflation may stay elevated.

Chennai Petroleum Corp Ltd said it has formed a joint venture with its parent company Indian Oil Corp and others to build a 9 MMTPA refinery at a cost of 315.80 billion rupees ($3.95 billion) in southern Tamil Nadu state.

Indonesia will reallocate 24.17 trillion rupiah ($1.62 billion), or nearly 5%, of its fuel subsidy budget to social spending, including cash handouts to 20.65 million households, its finance minister said.