India’s downstream sector is unlikely to witness any major impact following the geopolitical developments in Venezuela, as oil flows from the South American supplier had largely dried up long before the recent crisis, regional industry sources and market analysts told...

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In the budget breakdown of a new ship build, around 5% of project spending goes to engineering; 25–35% goes to direct and indirect labor. The majority of the budget—some 60–70%—owes directly to material costs. The key, then, to controlling project cost isn’t just in...

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