Indian oil companies face substantial losses on petrol and diesel sales. Elevated crude oil prices are squeezing marketing margins. Cooking gas LPG is projected to incur an Rs 80,000 crore under-recovery this fiscal. Fertiliser subsidies are also set to rise significantly. These pressures impact profitability across various sectors, with relief contingent on easing global tensions…
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.
The United States warned it will impose secondary sanctions on buyers of Iranian oil as it enforces a maritime blockade, saying China may halt purchases. Treasury Secretary Scott Bessent said banks handling Iranian funds risk penalties, while Washington intensifies pressure on Tehran’s oil exports and global energy networks.
Electricity bills in Uttar Pradesh will see a 10% increase starting June. This rise is due to a fuel surcharge reflecting higher fuel and power purchase costs. The Uttar Pradesh Power Corporation Limited is implementing this change as per new regulations. Consumers will pay more for electricity usage in the upcoming billing cycle.
India is launching a national mission to conserve fuel amid global energy market turmoil. The government assures citizens of robust energy security and ample reserves. This collective effort aims to ease the nation’s financial burden from high international crude prices. Prime Minister Modi urges public participation to reduce consumption and protect foreign exchange reserves.
In recent years it has become well known that cryptocurrency networks such as the Bitcoin network are energy intensive systems. As of 2024, Bitcoin mining operates on more than 16 gigawatts of power demand, responsible for around 80 megatonnes of annual carbon emissions. Ethereum proved in 2022 that it is possible to replace this energy…
Union Minister Ashwini Vaishnaw announced a significant financial boost for oil marketing companies. The government will provide Rs 30,000 crore in budgetary support to address under-recoveries. This decision is driven by the current complex geopolitical landscape and the prevailing uncertainties in the oil and gas sector.
India’s largest power generator, NTPC, has signed non-disclosure agreements with Russia’s Rosatom and France’s EDF to explore collaboration on large Pressurised Water Reactor (PWR) projects. These engagements cover the entire project lifecycle, emphasizing indigenisation, as India eases laws for private sector participation in nuclear energy.
The former promoters of Bhushan Steel and Power Limited have appealed to the Supreme Court. They want their review petition against the company’s liquidation order to be heard in open court. The petition challenges the previous verdict which had set aside JSW Steel’s resolution plan. The promoters argue that the assigned liquidation value was too…
Construction of Bhutan’s Punatsangchhu-I hydropower project has restarted after a seven-year halt. India is providing financial support for the 1,200-MW project. Dam work commenced following a ceremony attended by Indian and Bhutanese ministers. The project faced delays due to technical issues and slope stabilization needs.