Fuel prices have surged in West Bengal, impacting transport costs. Operators anticipate a three percent rise in freight charges. They are urging the government to monitor product prices and prevent traders from increasing them unfairly. State governments are also being asked to consider reducing local taxes to ease the burden on truckers.
Nayara Energy, an Indian refiner backed by Russia and facing EU sanctions, is utilizing a dark fleet to import Russian oil and export refined fuels. Constrained by sanctions, Nayara has reduced refinery runs and seeks government assistance to secure ships. Russian entities are reportedly aiding Nayara in arranging vessels to maintain operations.
India aims to achieve 100 GW atomic power by 2047. The government plans to amend laws to encourage private sector investment in nuclear energy. These changes address global concerns about liability. The goal is to meet global benchmarks and become a developed nation. India is also expanding nuclear power capacity significantly.
The EU’s upcoming ban on fuels refined from Russian crude, effective January 21, could affect Indian exporters like Reliance Industries. Though delayed, the ban’s strict origin rules may target India, a major Russian oil importer. Exporters must now prove crude origin, complicating shipments. Reliance shares fell 3.3% amid concerns, despite a strong quarterly profit and…
An Iranian Armed Forces spokesperson called U.S. restrictions on vessels in international waters “illegal” and said they amount to piracy, warning that Iran will enforce a “permanent mechanism” to control the Strait of Hormuz.
Despite US pressure and potential punitive actions, India continues to import Russian crude oil. Several tankers discharged millions of barrels at Indian refineries over the weekend. This indicates that these deliveries are proceeding as usual. Refineries like Reliance and Nayara are key recipients, highlighting India’s reliance on discounted Russian oil.
India aims to cut reliance on imported chemicals through coal gasification. The government is offering significant financial support and incentives for new projects. Companies have been urged to invest in coal gasification plants. A draft proposal is expected soon, with the scheme likely to launch by early July.
Indraprastha Gas Limited has increased compressed natural gas prices again. This is the second hike in two days. Commuters in Delhi-NCR will now pay more for fuel. CNG in Delhi now costs Rs 80.09 per kg. Noida and Ghaziabad rates are Rs 88.70 per kg. Gurugram’s new rate is Rs 84.12 per kg.
Iranian-backed drones attacked American oilfields in Iraq’s Kurdistan region. This prompted the United States to exert intense diplomatic pressure on Baghdad. The US threatened sanctions if a key oil export pipeline to Turkey was not reopened. Following this pressure, Iraq agreed to restart the pipeline. This event signals a shift in influence within Iraq, favoring…
The XUV700 and Thar maker dominates the diesel PV market, with its share projected to increase to 56% this year, from 53% in 2024 and 34% in 2022, according to Equirus Research data.