Aviation turbine fuel prices have increased by 3% due to rising international oil rates, adding to the financial strain on airlines. Simultaneously, commercial LPG cylinder prices saw a reduction of Rs 33.50, marking the fifth consecutive decrease. However, domestic LPG rates remain unchanged, while petrol and diesel prices are still frozen since the cuts last…
Hit by EU sanctions due to Rosneft’s stake, Nayara Energy offered its export volumes of petrol and diesel to Indian state-run refiners. The company, operating its refinery at 80% capacity, reiterated its commitment to India’s energy security. Nayara plans to invest ₹70,000 crore in petrochemicals, ethanol plants, and infrastructure expansion, despite the challenges.
In a significant move, the US has lifted import duties on India’s petroleum exports, allowing for smoother trade flows. Meanwhile, the details of Donald Trump’s potential penalties regarding India’s energy and defense relationships with Russia remain unclear.
India’s power consumption saw a slight increase of 2.6 percent in July, reaching 153.63 billion units. This growth was less than expected due to heavy rains reducing the need for cooling appliances. Peak power demand dipped slightly to 220.59 GW in July. The monsoon arrived early, impacting electricity use across the country.
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…