Speaking on the sidelines of the St Petersburg International Economic Forum on Thursday (local time) Putin said Moscow and New Delhi were aiming for more ambitious economic targets as trade between the two nations continues to grow. “We are not only talking about our plans in energy, including nuclear energy. Kudankulam Nuclear Power Plant (KKNPP)…
Russia’s state nuclear corporation has delivered the initial nuclear fuel for the third reactor at India’s Kudankulam plant. This marks a significant step in expanding the plant’s capacity. The delivery coincides with Russian President Vladimir Putin’s visit to New Delhi.
Speaking at the CII Summit on Friday, road transport and highways secretary V Umashankar said since diesel consumption is almost two times that of petrol consumption, the impact of diesel blending will be far greater on our energy security than even petrol blending. The event saw the launch of a CII Knight Frank Report which…
Indian Oil Corporation has secured a significant crude oil purchase. The state refiner bought five million barrels from West Africa and the Middle East. This acquisition includes Angolan Kissanje and Nemba crude for its Paradip refinery. Nigerian Usan crude and Abu Dhabi’s Murban crude were also purchased for delivery to Vadinar and Chennai refineries.
Indian engineering firms are now entering the Middle East’s oil and gas supply chains. Global energy companies are broadening their supplier choices. This opens doors for Indian manufacturers meeting strict standards. Companies like LSI-MECH Engineers are gaining approval. The Middle East continues energy infrastructure investment. Diversifying vendor bases is a priority for global firms.
The Donald Trump administration has issued a short-term waiver allowing countries to continue buying sanctioned Russian oil loaded on ships until May 16, aiming to stabilise global energy prices amid the US-Israeli war on Iran.
Indian refiners, heavily reliant on discounted Russian oil for high distillate yields, face significant challenges if supplies are disrupted. Replacing Russian crude would increase import costs by billions, straining fiscal balances and requiring a diversified, costly supply approach. While technically feasible, shifting away from Russian oil would erode refining margins and misalign product yields.
The government has also extended the deadline for the eleventh round under the Open Acreage Licensing Policy (OALP), launched in March. he new bid submission deadline for both rounds is June 19, according to the Directorate General of Hydrocarbons (DGH), the oil ministry’s upstream regulator that oversees licensing rounds.
Indian Oil Corporation has bought Colombian crude for the first time. This move diversifies India’s oil sources away from Russia. Indian refiners are seeking new suppliers due to sanctions. Indian Oil Corporation secured two million barrels of Castilla crude. This purchase is for delivery in late February. The company has an option to buy more.