Nayara Energy, an Indian refiner backed by Russia, has scaled back operations at its 400,000 bpd refinery due to recent EU sanctions. These sanctions, implemented on July 18, have complicated the export of refined products, leading to storage challenges. Consequently, at least two tankers avoided planned loadings, and a tanker carrying Russian crude was rerouted…
The NCLT Hyderabad has permitted YS Jagan Mohan Reddy’s plea. It directs the cancellation of shares in Saraswati Power and Industries. These shares were transferred to YS Sharmila and Vijayamma. Jagan sought the reinstatement of his and his wife’s names in the company. Sharmila’s advocate stated they will appeal the order.
Andhra Pradesh government has cancelled Adani Green Energy Ltd’s (AGEL) 1,200 MW Kurukutti and 1,000 MW Karrivalasa pumped hydro storage power projects at the company’s request, citing boundary disputes between Andhra Pradesh and Odisha. AGEL requested cancellation and a refund of facilitation charges, which may be adjusted towards other projects.
Nayara Energy, an Indian refiner backed by Russia, has initiated legal action against Microsoft after the U.S. software company abruptly suspended critical services. The refiner has filed a petition in Delhi High Court seeking an immediate resumption of services, alleging restricted access to its data, tools, and products despite holding fully paid licenses.
Jagatjit Industries Ltd has commenced commercial production at its grain-based ethanol plant in Punjab, anticipating Rs 550 crore in annual revenue. The plant, located in Kapurthula district, has a 200 kilolitres per day capacity. The company expects a significant boost to its EBITDA margin and aims to supply 65-70 million litres of ethanol annually to…
Diamond Power Infrastructure Ltd (DPIL) has secured a ₹1,349.11 crore order from Adani Energy Solutions Ltd for the supply of 24,080 AL-59 high-performance conductors. The contract is to be completed by June 2028. DPIL, India’s largest single-location power cables and conductors manufacturer, disclosed the development in a stock exchange filing on Monday.
Indian oil refiners, the top buyers of Russian crude, are exploring alternative sources like Azerbaijan, Nigeria, and the UAE amid fresh EU sanctions on Moscow. While no major shift has occurred yet, purchases from less typical suppliers suggest early diversification. Sanctions on a Russian-linked Indian refiner and tightening global trade dynamics are prompting a reassessment…
Petronet LNG, India’s top gas importer, plans to raise ₹12,000 crore via a local currency loan to help fund a ₹20,685 crore petrochemical plant in Gujarat. The company expects to spend ₹30,000 crore over the next few years, with higher capex in FY27. It also approved a ₹6,350 crore LNG terminal in Odisha with a…
Russia-backed Indian refiner Nayara Energy has named a new chief executive after its previous CEO resigned following European Union sanctions that targeted the company, four sources with knowledge of the matter said on Friday.
India has achieved its 20% ethanol blending target with petrol, five years ahead of the 2030 schedule. This accomplishment, driven by government policies, has significantly boosted ethanol production and reduced carbon emissions. The program has also provided substantial financial benefits to farmers and distilleries, while saving India considerable foreign exchange costs.