In a booming trend, Indian city gas companies are swiftly increasing the number of CNG stations, surpassing their initial targets. Yet, there remains a gap in household piped-gas connections, largely due to the straightforward nature of establishing CNG outlets compared to the intricate, labor-intensive process needed for household pipeline installations.
India’s Reliance Infrastructure is set to recover ₹214.13 billion in unpaid dues from its Delhi power distribution companies, following a Supreme Court ruling. These dues, resulting from past tariff shortfalls, will be recovered from consumers over four years starting April 2024, potentially increasing electricity tariffs. The Supreme Court has directed regulators to clear deferred costs…
Several oil tankers carrying Russian crude are currently stationed off India’s western coast, facing scrutiny amid pressure from the US and EU. These tankers, including sanctioned vessels like the Achilles and Destan, are waiting to discharge at Sikka, serving major refiners. India’s increased reliance on Russian oil imports has drawn attention, prompting concerns and potential…
Following EU sanctions, shipowners and oil traders are increasingly avoiding Russia-backed Nayara Energy, leading to logistical disruptions. Several tankers, including the Talara and Chang Hang Xing Yun, have altered their courses, canceling planned cargo pickups from Vadinar port. This hesitation raises concerns about broader impacts on trading and financing for the Indian refiner, in which…
IntelliSmart Infrastructure, a leading smart meter platform, is nearing the end of its sale process, with an Adani Group entity among four shortlisted bidders. The transaction is expected to value IntelliSmart at approximately $400 million. Binding bids are anticipated by mid-June as shortlisted firms commence due diligence.
A US-sanctioned tanker, Contract II, is being dismantled in Alang, India. The sale involves extended payment terms and measures to hide the owner’s identity. This suggests increased pressure on older dark fleet vessels due to stricter sanctions enforcement. The unusual clauses in the sale contract raise concerns about illicit activities. More sanctioned ships are turning…
Southeast India is experiencing significant fuel challenges, with motorists waiting in long lines as petrol and diesel become increasingly hard to come by. Officials attribute the shortage to logistical issues. The anticipation of rising fuel prices post-regional elections has heightened public anxiety.
Indian Oil Marketing Companies have increased petrol and diesel prices by Rs 3 per litre each, and CNG by Rs 2/kg, following daily losses of Rs 1,000-1,200 crore due to the Iran war. This move is expected to add inflationary pressure, impacting transportation, logistics, and retail goods costs.
Reliance Industries’ Oil-to-Chemicals segment faced margin pressures in the March quarter due to rising crude premiums, elevated freight, and insurance costs. Despite strong global refining margins, the company reported a 3.7% year-on-year decline in O2C EBITDA, impacted by higher fuel costs and policy interventions.
Oilmax Energy aims for a significant revenue milestone of ₹3,000 crore by 2028-29. The company is expanding its operations across oil, gas, and coal sectors. It is also exploring new areas like coal gasification. This growth strategy is expected to drive substantial financial performance for Oilmax Energy in the coming years.