Despite US tariff threats, India’s IOC continues to purchase Russian oil based on economic viability, with volumes fluctuating according to discount rates. India became Russia’s largest oil customer in 2022 as Western sanctions took hold. Refiners like IOC prioritize economic benefits, with no directives to alter purchase volumes due to US tariffs.
Bharat Petroleum Corp has awarded Glencore a tender for 10 million barrels of U.S. oil, boosting India’s energy ties with the U.S. This deal, delivering 2 million barrels of WTI Midland crude monthly, supports India’s efforts to reduce its trade surplus with the U.S. and fulfill pledges made during Prime Minister Modi’s visit to increase…
Indian state refiners, including Indian Oil Corp, have resumed exploring purchases of Russia’s Urals crude oil. This decision follows a widening of discounts, prompting renewed interest after a pause in purchases last month when discounts had narrowed. The move occurs ahead of a significant meeting between U.S. and Russian leaders, potentially influencing global oil market…
Reliance Industries, a major buyer of Russian oil, is now purchasing fuel oil from Hindustan Petroleum Corp. This shift occurs as India faces pressure from the U.S. regarding its energy relationship with Russia. Reliance bought two cargoes of fuel oil from HPCL recently. Russian fuel oil exports to India are expected to decrease this month.
Nayara Energy, grappling with EU sanctions, is resorting to ship-to-ship transfers to continue fuel exports. A gasoline shipment from Nayara was moved from the Tempest Dream to the Wu Tai off Oman’s coast. Both vessels have faced sanctions related to the Russian oil trade.
The 800 MW NTPC-BHEL advanced ultra super critical (AUSC) coal-fired project, announced in Budget 2024-25, is awaiting final government approval despite submissions and follow-up meetings. The parliamentary committee urges swift action, emphasizing the project’s importance in modernizing India’s aging thermal power fleet and improving environmental performance, especially with over 130 GW of coal capacity nearing…
India Ratings and Research (Ind-Ra) projects coal-based power will remain crucial for base load management in the medium term, despite strong renewable capacity additions. Thermal capacity additions are expected to accelerate in FY26, driven by demand expectations. Ind-Ra maintains a stable outlook for thermal, solar, and wind power projects, citing healthy performance and payment trends.
Reliance Infrastructure has secured an arbitration award of Rs 526 crore against Aravali Power Company Ltd. This favorable outcome stems from the arbitral tribunal’s decision, which deemed the termination of their contract invalid. The award covers consequential claims, marking a significant victory for Reliance Infra following the 2018 dispute.
India is poised to increase its reliance on West Asian oil suppliers like Saudi Arabia, the UAE, and Iraq, as the US intensifies pressure on Russian crude imports. This shift comes as discounts on Russian oil narrow and the US imposes higher tariffs. While Russian oil imports will continue, India aims to diversify its sources…
The Ministry of Petroleum and Natural Gas asserts that E20 fuel enhances acceleration and reduces carbon emissions by approximately 30% compared to E10, with minimal impact on mileage. Dismissing concerns about insurance validity, the ministry highlights the program’s benefits, including reduced crude oil imports, increased farmer incomes, and significant CO₂ emission reductions.