India’s petrol pump network has surpassed 100,000 outlets, nearly doubling in the last decade. This expansion has improved fuel access in rural areas and intensified competition. While private players hold less than 10% of the market, concerns exist about the economic sustainability of such rapid growth.
Reliance Industries has restarted buying discounted Russian crude oil. The company is sourcing barrels from suppliers not under sanctions. These shipments are heading to its refinery in Gujarat. This move is expected to limit a drop in India’s overall Russian oil imports this month. Reliance had paused purchases after US sanctions were imposed on Russian…
India’s electricity regulator is reviewing power exchange transaction fees. A fixed fee of 1.5 paise per unit is being discussed for most trades. Lower fees for longer-term contracts are also under consideration. This move aims for greater transparency and predictability for market participants. The regulator is also planning market coupling from 2026. This could benefit…
Adani Power has significantly boosted its long-term installed capacity target to 41.87 GW by FY32, committing approximately Rs 2 lakh crore in capital expenditure. This aggressive expansion, with 23.72 GW already secured, aims to meet India’s projected surge in electricity demand.
Reliance Industries has received oil cargoes from Russia’s Rosneft following a one-month concession from Washington. These shipments are part of pre-existing transactions being wound down in a sanctions-compliant manner. The company plans to process Russian oil at its India-focused refinery to continue fuel sales to the EU.
Uttar Pradesh Energy Minister Arvind Kumar Sharma stated that no final decision has been made regarding the privatisation of the power sector, emphasising that any future move will prioritise public interest and quality power for all. He also countered allegations of inflated power purchase rates by citing a past SP government contract with TSK Mahanadi…
A 27-year-old tanker, believed to be a ‘zombie vessel’ using a scrapped ship’s identity, is heading to Venezuela. This tactic helps Venezuela, crippled by sanctions, export its oil, primarily to China. Despite a fraction of its former output, Venezuela’s continued shipments are prompting the US to pursue physical disruption of its oil trade.
BP is selling a major part of its Castrol lubricants business to Stonepeak for approximately $6 billion. This deal values Castrol at $10.1 billion. BP will keep a 35% stake in a new joint venture. The funds will help BP reduce its debt. This is a key step in BP’s plan to sell assets and…
Larsen & Toubro has secured a significant order for the Mumbai Metro Line 4 electrification project. The contract involves design, supply, installation, and commissioning of power and traction systems. L&T will also handle electrical and mechanical works for stations and depots. This marks a continued partnership in developing the Mumbai Metro corridor.
Nayara Energy has postponed maintenance at its 400,000 bpd Vadinar refinery from February to April 2026 as European contractors avoid working with the Rosneft-backed firm, sanctioned by the EU over Russia’s war in Ukraine. The sanctions have also stalled Nayara’s petrochemical projects. Meanwhile, the refinery continues processing Russia’s Urals crude after disruptions from Saudi and…