India’s Russian oil imports increased to 2 million barrels per day in August. This rise occurred as refiners prioritized economic factors. Russian oil now constitutes 38% of India’s total crude imports. Purchases from Iraq and Saudi Arabia decreased. There is no government directive to reduce Russian oil volumes. Refiners are also exploring alternative sources for…
A significant increase in diesel export tax is set to align prices for state-run oil companies and private fuel sellers. This move could end a prolonged dispute over domestic fuel supply agreements. State-run firms typically buy diesel from private refiners and some state-run ones.
Indian refiners sought oil from Latin America and Africa as Middle East supplies faced disruptions. Imports from Venezuela, Brazil, Angola, and Nigeria increased. Russia remained a key supplier, though its share saw a dip. The UAE and Saudi Arabia saw increased imports. Overall oil imports in April remained steady but decreased year-on-year. Brazil and Venezuela…
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…
Adani Power has established a new company, Rawatbhata-Raj Atomic Energy. This move expands its involvement in nuclear power generation. The new entity is a wholly owned subsidiary of Adani Atomic Energy Ltd. This development signals Adani’s commitment to its atomic energy plans. India is increasing its nuclear capacity with private sector involvement.
India has opted not to direct its oil refiners to cease purchasing Russian oil, as officials carefully navigate the complexities of energy demands alongside diplomatic relations with US. While refiners have the flexibility to procure from preferred suppliers, Trump has openly criticised India for its ongoing partnership with Russia.
Indian private refiners, benefiting from discounted Russian crude, face challenges due to new EU sanctions banning imports of refined products made from Russian oil. Reliance and Nayara Energy, major exporters to Europe, will need to reroute supplies and rely on traders. The sanctions may increase fuel prices for Europe, while Indian state refiners are less…
Amid trade tensions, US President Trump imposed tariffs on India for purchasing Russian energy, escalating U.S.-India trade disputes. India, now facing high tariffs, defends its oil imports as economically vital. Despite Western sanctions on Russia, India has significantly increased its Russian oil purchases, benefiting from discounted prices and fueling its refining industry.
India will launch formal carbon credit trading in four months, Power Minister Manohar Lal announced, marking a key step toward building a structured carbon market. The government has already laid out the framework under the Carbon Credit Trading Scheme, which includes both compliance and voluntary markets.
New windfall tax rates on fuel exports take effect from June 1, 2026. Taxes are back on diesel and aviation turbine fuel after a period of nil levies. Petrol exports will also attract a duty. These revisions reflect changes in global oil prices and refiner margins. The government reviews these rates fortnightly.