Following US tariffs and penalties on India’s trade relationship with Russia, state-run refiners like IOCL, BPCL, HPCL, and MRPL have ceased spot market purchases of Russian crude oil. This shift will likely increase costs as refiners turn to Middle Eastern and other sources. Reliance Industries and Nayara Energy, however, may continue their term-based Russian oil…
The United States has sanctioned six Indian companies. These companies are accused of importing petrochemicals from Iran. The sanctioned companies are based in Chennai and Mumbai. The US alleges these firms violated sanctions on Iranian products. The Iranian embassy in India has criticized the US action. They claim the US is weaponizing the economy against…
Oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by ₹33.50, effective August 1, bringing relief to businesses. This follows a series of price cuts in recent months, driven by a drop in crude oil prices. While domestic LPG prices remain stable, increased adoption has doubled connections to 33 crore households.
Indian state refiners halt Russian oil purchases recently. This is due to shrinking discounts and warnings from U.S. President Donald Trump. Trump threatened tariffs on countries buying Russian oil. Private refiners continue purchases under existing deals. Refiners are now seeking alternative supplies from the Middle East and West Africa. Russia is currently India’s top oil…
Indian refiners are facing pressure as the US and EU intensify efforts to curb Russian oil flows. President Trump announced a 25% tariff on Indian exports, criticizing its Russian imports. State-run refiners are rushing to secure alternative crude, including from the Middle East and West Africa. Rising prices, reduced Russian supply, and geopolitical uncertainties have…
Nayara Energy, facing EU sanctions as a major buyer of Russian oil, sued Microsoft in Delhi High Court after its services were suspended. Accusing Microsoft of corporate overreach, Nayara argued the abrupt suspension impacted critical operations. Microsoft restored services, leading Nayara to withdraw its petition, with the court granting leave to re-approach if similar issues…
ABB India has implemented a system for THINK Gas. This system automates and digitalizes THINK Gas’s city gas distribution network. The network spans 10 Indian states. ABB’s cloud-based platform centralizes operations. It provides real-time visibility from Chennai. The system monitors and controls gas distribution. It supplies Compressed Natural Gas to over 500 fuel stations.
Indian refiners may face setbacks due to the EU’s 18th sanctions package against Russia, which bans imports of refined products made from Russian crude via third countries. Indian exports to the EU, worth $14.3 billion in FY25, are at risk. The sanctions also lower the crude oil price cap and restrict transport services, limiting market…
Nayara has been forced to scale back operations at its 400,000-barrel-per-day refinery for lack of sufficient fuel storage and vessel owners’ demand to end their contracts after it was hit by the EU’s latest sanctions.
India’s High Commissioner to the UK, Vikram Doraiswami, defended India’s oil imports from Russia, emphasizing the necessity to sustain the nation’s economy. He pointed out the hypocrisy of Western nations criticizing India while themselves procuring resources from similar sources. Doraiswami also highlighted India’s long-standing security ties with Russia, forged when Western partners were unwilling to…