Indian refiners are facing pressure as the US and EU intensify efforts to curb Russian oil flows. President Trump announced a 25% tariff on Indian exports, criticizing its Russian imports. State-run refiners are rushing to secure alternative crude, including from the Middle East and West Africa. Rising prices, reduced Russian supply, and geopolitical uncertainties have…
Nayara Energy, facing EU sanctions as a major buyer of Russian oil, sued Microsoft in Delhi High Court after its services were suspended. Accusing Microsoft of corporate overreach, Nayara argued the abrupt suspension impacted critical operations. Microsoft restored services, leading Nayara to withdraw its petition, with the court granting leave to re-approach if similar issues…
ABB India has implemented a system for THINK Gas. This system automates and digitalizes THINK Gas’s city gas distribution network. The network spans 10 Indian states. ABB’s cloud-based platform centralizes operations. It provides real-time visibility from Chennai. The system monitors and controls gas distribution. It supplies Compressed Natural Gas to over 500 fuel stations.
Indian refiners may face setbacks due to the EU’s 18th sanctions package against Russia, which bans imports of refined products made from Russian crude via third countries. Indian exports to the EU, worth $14.3 billion in FY25, are at risk. The sanctions also lower the crude oil price cap and restrict transport services, limiting market…
Nayara has been forced to scale back operations at its 400,000-barrel-per-day refinery for lack of sufficient fuel storage and vessel owners’ demand to end their contracts after it was hit by the EU’s latest sanctions.
India’s High Commissioner to the UK, Vikram Doraiswami, defended India’s oil imports from Russia, emphasizing the necessity to sustain the nation’s economy. He pointed out the hypocrisy of Western nations criticizing India while themselves procuring resources from similar sources. Doraiswami also highlighted India’s long-standing security ties with Russia, forged when Western partners were unwilling to…
NTPC Ltd has awarded Accenture Solutions a contract to conduct feasibility studies for installing small modular reactors at old thermal power stations. This initiative aligns with India’s goal to achieve 100 GW of nuclear energy capacity and repurpose existing infrastructure. The conversion leverages available land, water, and transmission lines, while exclusion zones are a key…
Lenders to Jaiprakash Power Ventures are planning to sell their ₹3,800 crore investment in the company, acquired during a debt restructuring in 2019. This sale of compulsorily convertible preference shares would give the buyer a 25% stake, potentially leading to a controlling 51% stake after an open offer. ICICI Bank is leading the creditor group…
Odisha government has requested the Centre for the swift approval of Rs 3,069 crore under the Revamped Distribution Sector Scheme (RDSS). Deputy CM K V Singh Deo also urged for allocation of 800 MW power from NLC Talabira Phase-II project, in addition to the existing 400 MW, to strengthen disaster-resilient power infrastructure.
Petroleum Minister Hardeep Singh Puri announced a surge in India’s oil and gas exploration, particularly offshore, driven by opening ‘No-Go’ areas in 2022. Since 2015, 172 hydrocarbon discoveries were reported, with 62 offshore. ONGC and OIL have launched ambitious exploration campaigns, including ultra-deepwater drilling in the Andaman region, following promising seismic data.