8Swan Energy Ltd (SEL), a conglomerate with interests in oil and gas and infrastructure businesses, acquired 55% stake in petrochemicals and petroleum products manufacturer Veritas (India) for ?172.52 crore.

8India’s state-backed Oil & Natural Gas Corporation (ONGC) (NSE:ONGC) is considering placing more offers for Russian energy assets that western majors, such as Shell (LSE:RDSA), BP (LON:BP), and ExxonMobil (NYSE:XOM), are seeking to divest following Russia’s invasion of Ukraine, the Economic Times reported yesterday.

8FMCG stocks were trading higher on Monday at 10:44AM Umang Dairies(up 7.30%), Hind.Foods(up 4.08%), Nakoda Group(up 2.96%), Euro India Fresh Foods(up 2.52%), Heritage Foods(up 2.21%), Colgate Palmolive(India)(up 2.04%), Britannia Industries(up 2.02%), Hindustan Unilever(up 1.89%), Marico(up 1.72%) and Dabur India(up 1.72%) were among the top gainers.

8The rise of OPEC and the consolidation of the modern oileconomy after the disintegration of the Soviet Union in 1991 have witnessed global petroleum markets following one simple principle –– supply must match demand. This equation not only keeps the price of petroleum products in check, but also ensures that the world economy remains in balance.

8Due to a sharp rise in global prices, Chemicals and Fertilizers Minister Mansukh Mandaviya recently stated that the total fertilizer subsidy bill in the current fiscal could be between Rs 2-2.5 lakh crore.

Robust demand has lifted Zinc oxide prices in the Ahmedabad market today.

On May 23, 2022, Petrochem sources reported a significant fall in electrolytic copper rod prices in the Delhi Metal market.

A cut in chromium metal prices was announced in the Ahmedabad market today.

A sharp cut in acetamiprid 97% prices was announced in the Mumbai market today.

A fall in diethanolamine prices in the imported market of Delhi was noticed on May 23, 2022.

Diisononyl phthalate prices have moved upwards in the Ahmedabad chemical market, today.

Dimethyl sulfoxide prices were assessed higher in the chemical market of Delhi.

EGMEr prices were assessed lower in the imported market of Mumbai.

Aniline prices were assessed lower in the Mumbai market.

On May 23, 2022, Petrochem sources reported a cut in SBR grade 1502 prices in the domestic market of Mumbai.

On May 23, 2022, the Hazira market witnessed a fall in DEG prices.

Toluene prices registered a sharp rise in the imported market of Kandla.

On May 23, 2022, the Mumbai market witnessed a rise in DOP prices.

Acetonitrile prices registered a fall in the Mumbai market.

SM prices moved higher today in the Mumbai chemical market.

VAM prices firmed up in Mumbai in anticipation of tight regional product avails and improved buying sentiments.

Petrochem sources reported a rise in Delhi’s NBR grade 35LM prices today.

Butyl rubber grade 1675N prices have gained in the Delhi market today.

Petrochem sources have reported a rise in manganese oxide prices today.

Chromium metal prices climbed higher in the Mumbai market today.