Russia’s Gazprombank freezes accounts of Venezuela’s oil firm PDVSA: Report

Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under US sanctions, a Gazprombank source told Reuters on Sunday. While many foreign firms have been cutting their exposure to PDVSA since the sanctions were imposed, […]

IOC gets environmental nod for Telangana storage and distribution terminal

The Expert Appraisal Committee under the Environment Ministry has given “green signal” to Indian Oil Corporation Ltd for setting up a grass root petroleum storage and distribution terminal in Telangana. According to the minutes of the meeting held recently, the proposal involves setting up petroleum storage and distribution terminal comprising 28 tanks with combined capacity […]