India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.

Drawing a distinction between India's historical ties with Russia and Europe's current stance, Jaishankar asserted that just as India respects Europe's perspective on China, Europe should reciprocate regarding India's relationship with Russia.

Adnoc has already hired half of the 2.5 million tonnes storage capacity at Padur and 1.5 million tonnes facility at Mangalore. While the remaining 1.25 million tonnes at Padur has been filled by ISPRL, 0.75 million tonnes of vacant storage at Mangalore will be leased out, ISPRL CEO and Managing Director LR Jain told reporters on the sidelines of India Energy Week.

The Union Cabinet on Friday approved signing of a 5-year memorandum of understanding with Guyana for cooperation in the hydrocarbon sector including sourcing of crude oil.