Enmas EPC Power Projects, an EPC solutions provider, has secured Rs 57 crore in its first funding round from investors like Ahead Venture Fund and Amit Agarwal. The capital will fuel expansion in biomass, biogas, and waste-to-energy sectors. Enmas EPC aims to capitalize on international opportunities driven by the increasing demand for efficient energy infrastructure.
After EU sanctions, Nayara Energy is using dark-fleet tankers and a limited crude import selection to maintain operations, raising concerns in India about energy security. The government has approved coastal tankers, including sanctioned vessels, to assist Nayara. Despite challenges, Russia assures continued crude supplies, employing special mechanisms to bypass sanctions.
Despite potential US tariff hikes and criticism, Russia anticipates India will maintain its current level of Russian oil imports. A Russian official highlighted the economic advantage for India, citing a 5% discount. India defends its right to purchase from the cheapest source, while strengthening ties with Russia and China.
The Russian Embassy in India announced Moscow’s commitment to reducing the trade imbalance with New Delhi, focusing on expanding energy supplies and eliminating trade barriers. Despite the current political climate, mechanisms are in place to ensure a consistent oil flow to India. Bilateral trade is projected to increase by approximately 10% annually, with energy shipments…
Indian Oil and Bharat Petroleum are buying Russian Urals crude again. The refiners stopped buying in July. Now, they are resuming purchases for September. This is because the discount on Urals has increased. Also, China is buying more Urals crude. The discount is now about $3 per barrel. This makes it attractive for Indian refiners.
Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum saw profits rise significantly in the June quarter. High retail margins on petrol and diesel fueled this growth. However, inventory losses impacted refining margins. Discounts on Russian crude are shrinking. Some refiners are delaying Russian oil orders due to potential US penalties. Government compensation for LPG under-recoveries…
ONGC Energy Centre Trust and Engineers India Ltd. have partnered to establish a Helium Recovery Demonstration Plant in Tamil Nadu, valued at Rs 39.42 crore. This plant, utilizing CSIR-IIP technology, aims to extract high-purity Helium from natural gas, addressing India’s import reliance.
Indian Oil Corporation (IOC) and Air India have partnered to promote sustainable aviation fuel (SAF), marking a significant move towards greener aviation in India. IOC will supply SAF produced from used cooking oil, starting December, at its Panipat refinery, with an annual production of 35,000 tonnes.
Chinese oil refiners are increasing their purchases of discounted Russian Urals crude, capitalizing on India’s reduced intake due to increased US tariffs. This shift in global oil flows sees China importing almost double its usual Urals volume, while Indian imports have significantly decreased. The US is taking differing approaches to China and India regarding Russian…
India’s crude oil imports are declining due to stagnant demand both domestically and internationally. This raises concerns about India’s role as a key driver of global oil demand. Crude imports fell by 0.6% from April to July. Product imports also experienced a decrease of 1.5%. Weak domestic fuel consumption is contributing to this slowdown.