Indian refiners anticipate no government ban on Russian oil despite US pressure. India is firm on trade talks with the US. Conceding on crude oil would invite more demands. Focus is on projecting strength. Refiners placed lower orders for September. This is due to narrower discounts on Russian crude. Volumes for October may rise.
Nayara Energy, backed by Rosneft, has appointed Teymur Abasguliyev as its new CEO, replacing Alessandro Des Dorides, who resigned due to EU sanctions. Several other top officials also stepped down following the sanctions. Rosneft and Nayara have criticized the EU sanctions, deeming them unjust and harmful to India’s energy security.
Bharat Petroleum and Oil India have partnered to form a joint venture for developing a gas distribution network in Arunachal Pradesh. This initiative aims to establish CNG stations and provide PNG connections to homes, businesses, and industries.
India is considering utilizing gas-fired power plants solely during peak summer months due to high gas prices, which have reduced gas’s share in power generation. The government has developed a plan to support gas-based plants during high-demand periods, deploying 13-14 GW last year. Reduced demand this year has limited the need for gas generation, with…
India’s ONGC is considering establishing a trading unit to manage the crude oil and refined fuels produced and imported by its group companies. An internal group has been created to explore the legal and logistical aspects of this plan. This unit aims to streamline the sales and procurement of approximately 100 million tonnes of oil…
Facing increased pressure from Washington, Indian refiners, major buyers of Russian crude, plan to slightly reduce their purchases. This decision comes ahead of a US tariff hike and reflects a balancing act between economic interests and geopolitical considerations.
Oil Marketing Companies (OMCs) saw a significant reduction in LPG under-recoveries during Q1 FY26, decreasing by approximately 35% due to price hikes and moderated sourcing costs. Despite this improvement, under-recoveries remained substantial, leading to a cumulative burden.