ET Graphics: US, EU still rely on Russian energy and commodities 3 years into Ukraine war
Three years into Russia’s full-scale invasion of Ukraine, the US and EU continue to import billions of euros worth of Russian energy and commodities.
Read More
India refiners wait for government order on Russian oil purchases, sources say
Indian refiners are awaiting government guidance on Russian oil imports after the U.S. imposed new tariffs due to India’s energy ties with Russia. While state refiners paused, private companies continue Russian oil imports. If forced to cut Russian imports, India may turn to Middle East, Africa and the Americas.
Where could India look to replace Russian oil?
India, which sources over 35% of its crude oil from Russia, may look to Middle Eastern, African, and other suppliers if U.S. penalties force a cut in Russian imports. Russian oil, offered at discounted rates after Western sanctions in 2022, helped India manage energy costs. India imports over 85% of its oil needs.
SC delivers key ruling on discom regulatory assets; power bills likely to go up across India
The Supreme Court has directed all states and Union Territories to clear power distribution companies’ regulatory assets within four years, potentially raising electricity bills nationwide. This ruling addresses the accumulation of over Rs 1.5 lakh crore in regulatory assets, accumulated by discoms like BSES and Tata Power, mandating a roadmap for their recovery and strict…
Indian refiner Nayara seeks new local bank after EU sanctions
Nayara Energy, part-owned by Russia’s Rosneft, is seeking government assistance to establish a relationship with a domestic lender like UCO Bank after EU sanctions created reluctance among larger banks. The company needs a local bank to finance crude oil imports and facilitate payments for refined fuel exports. Despite healthy liquidity, Nayara faces challenges due to…
Indian power plants tap stockpiles, cut purchases as coal use slides
India’s power plants are currently reducing coal purchases from Coal India. This is happening because they are using their existing high coal reserves. Simultaneously, there’s a decrease in coal-fired power generation. Increased hydropower and renewable energy sources are contributing to this shift. Coal India’s production and supply have also seen a decline. Private miners are…
Russia-backed Indian refiner Nayara Energy ships out first gasoline exports since EU sanctions: Sources
Nayara Energy, an Indian refiner backed by Russia, has begun gasoline exports. This is the first shipment since the European Union imposed sanctions on July 18. The oil tanker Tempest Dream departed on August 4 carrying 43,000 metric tons of gasoline. The vessel is en route to Sohar, Oman. This development marks a significant event…
Torrent Electricals to invest over Rs 1,000 cr in housing wire segment
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,…
E20 Petrol does not cause drastic drop in fuel efficiency, even improves engine performance: Petroleum Ministry
The Ministry of Petroleum and Natural Gas refutes claims that E20 petrol significantly reduces fuel efficiency, asserting the impact is marginal, around 1-6%, and can be mitigated with proper engine tuning. The ministry highlights E20’s environmental benefits, improved engine performance, and contribution to energy security by reducing crude oil imports, saving India over Rs. 1.40…
Why Trump’s tariff move isn’t likely to shake India’s oil ties with Russia
Donald Trump’s threat to hike tariffs on Indian exports over its Russian oil imports isn’t likely to move the needle in New Delhi. India, driven by domestic needs and economics, isn’t ditching cheaper Russian crude anytime soon. Behind the posturing lies a bigger story, about energy security, shifting alliances, and a clash between political theatre…