India has so far managed the oil shock from the Iran war through policy buffers, diversified crude sourcing and intervention by the Reserve Bank of India, keeping inflation and supply chains stable. However, the proposed US naval blockade of Iranian ports by Donald Trump risks escalating the situation and disrupting energy flows through the Strait…
In a strategic move to bolster energy security, Coal India is gearing up to establish new coal-to-syngas facilities strategically positioned at mine pitheads or close to industrial users. This initiative comes in light of recent global gas supply challenges, prompting the company to actively seek partnerships with developers and industrial off-takers for these innovative projects.
Jio-BP, a fuel joint venture, will not increase petrol and diesel prices now. This decision comes despite a surge in international oil costs. Other private retailers like Nayara Energy and Shell India have raised their prices. Jio-BP attributes its sales growth to specialized fuel additives. The company assures adequate fuel supplies and normal operations at…
India’s Ambassador to Russia, Vinay Kumar, has criticized the US decision to increase tariffs on Indian imports due to New Delhi’s purchase of Russian oil, deeming it unfair. India will continue to prioritize its energy security by securing the best deals on oil, while also focusing on expanding exports to Russia in sectors like electronics…
Torrent Electricals plans to invest over Rs 1,000 crore in its new housing wire vertical to boost manufacturing and distribution. The company, a new entrant in this fast-growing segment, has launched its products in Gujarat and aims to expand to other states. This move aligns with the increasing demand in the wire and cable market,…
Indian Oil and Bharat Petroleum are buying Russian Urals crude again. The refiners stopped buying in July. Now, they are resuming purchases for September. This is because the discount on Urals has increased. Also, China is buying more Urals crude. The discount is now about $3 per barrel. This makes it attractive for Indian refiners.
Delhi’s electricity bills are set to increase. The Appellate Tribunal for Electricity has ordered the Delhi power regulator to start recovering over Rs 38,500 crore owed by electricity distribution companies. This move comes after the tribunal rejected a request for a CAG audit, directing an independent chartered accountant instead. The process must begin within three…
The Competition Commission of India has approved four business deals, including Adani Power’s acquisition of GVK Energy and Canada Pension Plan Investment Board’s stake in Ctrl S Datacenters. The regulator also cleared Thriveni Earthmovers’ purchase of a stake in Llyods Engineering Works and the merger of three entities into the company.
Larsen & Toubro’s hydrocarbon onshore business has secured a major order from Bharat Petroleum Corporation Ltd (BPCL) for engineering, procurement, construction, and commissioning of India’s largest LLDPE and HDPE Swing Unit. This flexible petrochemical plant, with two 575 KTPA trains, will be built in Bina, Madhya Pradesh.
Larsen & Toubro’s Power Transmission & Distribution division has won new orders in the Middle East. The company will build extra-high voltage substations. These projects will ensure reliable power supply to major areas. They will also help decongest existing power grids. The orders are for turnkey projects with strict delivery schedules.