Fuel demand is rising at some Indian petrol pumps. Bulk diesel buyers are switching to retail outlets due to a large price gap. This is causing temporary shortages at a few locations. The government states that fuel supplies remain ample and stable across the country. Citizens are urged not to panic buy.
Global oil stockpiles are shrinking at a record pace this month, with visible crude and fuel inventories falling by 8.7 million barrels daily. This sharp drawdown reflects severe supply disruptions tied to the Middle East conflict, leading to a tightening market and concerns about future availability.
China is unlocking a new energy frontier with coal rock gas extracted from deep within its coal basins. This ambitious multi-billion-dollar initiative is set to bolster domestic natural gas production while easing its dependence on foreign imports. With PetroChina predicting vast output by 2035, this strategy could position China as a fortress against global energy…
The Strait of Hormuz closure is impacting Asia’s chemical industry, pushing India to emulate China’s coal-to-chemicals model for energy and food security. Despite domestic coal challenges and technological gaps, India is investing heavily to boost its coal-based chemical production, potentially extending the fossil fuel’s demand.
Adani Power is set to acquire a significant stake in Jaiprakash Power Ventures and a thermal power plant. This move is part of a resolution plan for Jaiprakash Associates. The acquisitions will boost Adani Power’s generation capacity and expand its presence in the thermal power sector. The deal is expected to be completed within 90…
China is accumulating crude oil reserves even as imports decrease. This contrasts with global trends of depleting oil stocks. The nation’s refinery processing has also slowed. Analysts suggest China could sustain this inventory build for years. Future import levels and fuel export decisions will determine if China begins drawing down its substantial stockpiles.
Iran’s new Persian Gulf Strait Authority has established a “controlled maritime zone” in the Strait of Hormuz. Transit through this zone, defined by specific connecting lines between Iran and the UAE, will now require prior coordination and authorization from the authority.
Private fuel sellers Nayara Energy and Shell saw sales drop significantly in April. They increased prices after the Iran war began. Consumers shifted to state-run companies that kept prices steady. This caused market share losses for Nayara and Shell. RIL-BP however reported strong sales growth. Localized fuel shortages occurred as demand moved to neighboring stations.
Indian oil companies are pushing ahead with major expansion and clean energy projects. Indian Oil Corporation plans significant investments in refining and renewable energy. Bharat Petroleum Corporation Limited is also allocating substantial funds for refining and marketing. Hindustan Petroleum Corporation Limited’s capital expenditure is expected to be slightly lower. These companies are focused on growth…
The latest peak surpassed Tuesday’s all-time high of 260.5 GW recorded during solar hours. The latest demand levels have already crossed last summer’s record peak of 243 GW, and even those recorded during the evening. The peak demand recorded is inching closer to the projected 271 GW for the season.