European Union sanctions against Nayara Energy and restrictions on Russian oil-derived fuels present significant challenges for Reliance Industries, potentially impacting their access to the European diesel market. Rosneft’s planned divestment of its stake in Nayara is further complicated. Both companies, key Indian fuel exporters, face reduced refining margins due to these constraints.
India’s Ministry of External Affairs on Friday said it does not support unilateral sanctions, responding to the EU’s latest penalties on Russia that include a Rosneft-linked oil refinery in Gujarat. “Energy security is a paramount responsibility to meet citizens’ basic needs,” MEA spokesperson Randhir Jaiswal stated in a post on X.
Himachal Pradesh’s Revenue Minister Jagat Singh Negi announced that the 450 MW Shongtong hydroelectric project in Kinnaur district is nearly 60% complete and is expected to be finished by December 2026. Negi also instructed officials to register government properties, especially PWD roads existing for over 20 years, in revenue records by August 1, 2025, ensuring…
Reliance Industries reported strong growth in its Oil-to-Chemicals (O2C) business in Q1 FY26, with EBITDA rising 10.8% year-on-year, driven by improved domestic fuel retail margins, a recovery in transportation fuel cracks, and better petrochemical spreads. However, O2C revenue declined 1.5% due to lower crude prices and reduced volumes amid a planned shutdown.
Tata Power Renewable Energy Limited has secured its first Battery Energy Storage Purchase Agreement with NHPC Limited. This agreement involves setting up a 30 MW / 120 MWh battery storage system in Kerala. The project aims to address peak power demand and enhance grid flexibility. It will also support the integration of renewable energy in…