A US-sanctioned tanker, Contract II, is being dismantled in Alang, India. The sale involves extended payment terms and measures to hide the owner’s identity. This suggests increased pressure on older dark fleet vessels due to stricter sanctions enforcement. The unusual clauses in the sale contract raise concerns about illicit activities. More sanctioned ships are turning…
Adani Power has received a Letter of Intent from Bihar State Power Generation Company. The company will supply 2,274 MW of electricity. This power will come from a 2,400 MW thermal power project in Bhagalpur district. The project will use ultra-supercritical technology. Adani Power plans to invest around $3 billion in this greenfield project.
New US tariffs may create problems for Indian oil companies Reliance Industries and Nayara Energy. These companies may face challenges importing crude oil and exporting refined fuel. Government has not directed to stop buying Russian crude. Nayara Energy has already reduced refinery operations. The company is offering petrol and diesel to state-run refiners.
Three years into Russia’s full-scale invasion of Ukraine, the US and EU continue to import billions of euros worth of Russian energy and commodities.
Indian refiners are awaiting government guidance on Russian oil imports after the U.S. imposed new tariffs due to India’s energy ties with Russia. While state refiners paused, private companies continue Russian oil imports. If forced to cut Russian imports, India may turn to Middle East, Africa and the Americas.
India, which sources over 35% of its crude oil from Russia, may look to Middle Eastern, African, and other suppliers if U.S. penalties force a cut in Russian imports. Russian oil, offered at discounted rates after Western sanctions in 2022, helped India manage energy costs. India imports over 85% of its oil needs.
The Supreme Court has directed all states and Union Territories to clear power distribution companies’ regulatory assets within four years, potentially raising electricity bills nationwide. This ruling addresses the accumulation of over Rs 1.5 lakh crore in regulatory assets, accumulated by discoms like BSES and Tata Power, mandating a roadmap for their recovery and strict…
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…