Nayara Energy, part-owned by Russia’s Rosneft, is seeking government assistance to establish a relationship with a domestic lender like UCO Bank after EU sanctions created reluctance among larger banks. The company needs a local bank to finance crude oil imports and facilitate payments for refined fuel exports. Despite healthy liquidity, Nayara faces challenges due to…
India’s power plants are currently reducing coal purchases from Coal India. This is happening because they are using their existing high coal reserves. Simultaneously, there’s a decrease in coal-fired power generation. Increased hydropower and renewable energy sources are contributing to this shift. Coal India’s production and supply have also seen a decline. Private miners are…
Nayara Energy, an Indian refiner backed by Russia, has begun gasoline exports. This is the first shipment since the European Union imposed sanctions on July 18. The oil tanker Tempest Dream departed on August 4 carrying 43,000 metric tons of gasoline. The vessel is en route to Sohar, Oman. This development marks a significant event…
Torrent Electricals plans to invest over Rs 1,000 crore in its new housing wire vertical to boost manufacturing and distribution. The company, a new entrant in this fast-growing segment, has launched its products in Gujarat and aims to expand to other states. This move aligns with the increasing demand in the wire and cable market,…
The Ministry of Petroleum and Natural Gas refutes claims that E20 petrol significantly reduces fuel efficiency, asserting the impact is marginal, around 1-6%, and can be mitigated with proper engine tuning. The ministry highlights E20’s environmental benefits, improved engine performance, and contribution to energy security by reducing crude oil imports, saving India over Rs. 1.40…
Donald Trump’s threat to hike tariffs on Indian exports over its Russian oil imports isn’t likely to move the needle in New Delhi. India, driven by domestic needs and economics, isn’t ditching cheaper Russian crude anytime soon. Behind the posturing lies a bigger story, about energy security, shifting alliances, and a clash between political theatre…
Less than a week after the US announced a 25% tariff on imports from India “plus a penalty”, Trump on Monday again raised the issue of India buying oil from Russia and profiting from it, adding that he would be “substantially” raising the tariff “paid by India to the USA”.
Coal India Limited aims to supply 900.24 million tonnes of coal by 2026. This is to meet increasing electricity needs and cut down on imports. The company plans to provide most of its coal to the power sector. Coal India also focuses on cleaner technologies and diversifying its business. They are investing heavily in infrastructure…
Despite US pressure and potential punitive actions, India continues to import Russian crude oil. Several tankers discharged millions of barrels at Indian refineries over the weekend. This indicates that these deliveries are proceeding as usual. Refineries like Reliance and Nayara are key recipients, highlighting India’s reliance on discounted Russian oil.
Indian Oil Corporation has purchased seven million barrels of crude oil. The oil is sourced from the United States, Canada, and the Middle East. This purchase follows a pause in buying Russian crude due to narrowing discounts. The bought crude includes US West Texas Intermediate Midland, Canada’s Western Canadian Select, and Abu Dhabi’s Das oil.