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Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by Western underwriters.

The plant is operated by privately-owned company Iniciativas Bioenergeticas which produces biodiesel and glycerine there from recycled vegetable oils.

ONGC is hoping to lure interest from global companies with the "requisite technical expertise and financial strength" to support it in developing its Deen Dayal West field in the Bay of Bengal and ultra-deep discoveries in Krishna Godavari Basin.

The vessel's Russian owner Transmorflot was subsequently designated on May 8. The tanker, renamed Lana on March 1 and flying the Iranian flag since May 1, has remained near Greek waters since then. It was previously Russian-flagged.

More traditional automakers such as Ford Motor Co, not just Tesla, are seeing their EV sales soar, a trend that will continue to Delta's benefit, he added.

Asian shares on Friday extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers

India, the world's third biggest oil importer and consumer, ships in over 80% of its oil needs. Asia's third largest economy wants to monetise its oil and gas resources to cut its import bill.

Shanghai is set to finally emerge from its lockdown on June 1 after new infections fell sharply. The mega-city of 25 million people has been cautiously allowing more of its population to venture out and putting more vehicles back onto its once busy streets and boulevards.