Prime Minister Modi announced India’s plan to launch a deepwater exploration mission, aiming to boost domestic oil and gas production and reduce reliance on imports. With current imports covering 90% of oil and 50% of gas needs, the mission seeks to achieve energy independence and unlock the potential of areas like the Andaman Sea, attracting…
Prime Minister Modi announced India’s commitment to energy independence through nuclear power reforms, opening the sector to private investment. With work underway on 10 new nuclear reactors, India aims to increase nuclear power generation capacity tenfold by 2047. The nation has already achieved its goal of sourcing 50% of its energy from clean sources ahead…
India’s Russian oil imports increased to 2 million barrels per day in August. This rise occurred as refiners prioritized economic factors. Russian oil now constitutes 38% of India’s total crude imports. Purchases from Iraq and Saudi Arabia decreased. There is no government directive to reduce Russian oil volumes. Refiners are also exploring alternative sources for…
Prime Minister Modi announced India’s ambitious plan to increase nuclear power generation capacity tenfold in the next two decades, aiming for energy independence. The nation has opened the nuclear power industry to the private sector and is reforming the Atomic Energy Act to facilitate this growth.
PM Modi announced from the Red Fort on Independence Day that India is rapidly developing 10 new nuclear reactors and aims to increase its nuclear energy capacity tenfold by 2047. Highlighting energy self-reliance, he noted major reforms in the nuclear sector, a 30-fold rise in solar capacity over 11 years, expansion of hydropower through new…
Indian Oil Corp (IOC) has purchased two million barrels of U.S. West Texas Intermediate crude for October delivery from Mercuria. The purchase occurred at a premium of $2.80-2.90 a barrel to dated Brent. This move comes as U.S. President Donald Trump increased pressure on India to buy non-Russian oil.