Prime Minister Modi announced India’s commitment to energy independence through nuclear power reforms, opening the sector to private investment. With work underway on 10 new nuclear reactors, India aims to increase nuclear power generation capacity tenfold by 2047. The nation has already achieved its goal of sourcing 50% of its energy from clean sources ahead…
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…
Prime Minister Modi announced India’s ambitious plan to increase nuclear power generation capacity tenfold in the next two decades, aiming for energy independence. The nation has opened the nuclear power industry to the private sector and is reforming the Atomic Energy Act to facilitate this growth.
PM Modi announced from the Red Fort on Independence Day that India is rapidly developing 10 new nuclear reactors and aims to increase its nuclear energy capacity tenfold by 2047. Highlighting energy self-reliance, he noted major reforms in the nuclear sector, a 30-fold rise in solar capacity over 11 years, expansion of hydropower through new…
Indian Oil Corp (IOC) has purchased two million barrels of U.S. West Texas Intermediate crude for October delivery from Mercuria. The purchase occurred at a premium of $2.80-2.90 a barrel to dated Brent. This move comes as U.S. President Donald Trump increased pressure on India to buy non-Russian oil.
Nayara Energy, the Rosneft-backed refiner sanctioned by the EU, is in discussions with government and partners to ensure stable operations at its 20 million tonnes per annum refinery and maintain fuel supplies. The company emphasizes its commitment to meeting Indian consumer demand by supplying oil and oil products across the country.
Indian Oil continues its Russian oil imports, guided by economic factors and the absence of explicit government directives. Despite potential US penalties and ongoing Trump-Putin talks regarding Ukraine, the company maintains a steady 22% share of Russian crude in its refining process. The decision hinges on economic viability, with Russian oil currently offered at a…
Despite US tariff threats, India’s IOC continues to purchase Russian oil based on economic viability, with volumes fluctuating according to discount rates. India became Russia’s largest oil customer in 2022 as Western sanctions took hold. Refiners like IOC prioritize economic benefits, with no directives to alter purchase volumes due to US tariffs.
Bharat Petroleum Corp has awarded Glencore a tender for 10 million barrels of U.S. oil, boosting India’s energy ties with the U.S. This deal, delivering 2 million barrels of WTI Midland crude monthly, supports India’s efforts to reduce its trade surplus with the U.S. and fulfill pledges made during Prime Minister Modi’s visit to increase…
Indian state refiners, including Indian Oil Corp, have resumed exploring purchases of Russia’s Urals crude oil. This decision follows a widening of discounts, prompting renewed interest after a pause in purchases last month when discounts had narrowed. The move occurs ahead of a significant meeting between U.S. and Russian leaders, potentially influencing global oil market…