Indian refiners are actively buying discounted Russian crude. Four of the seven largest processors are now sourcing non-sanctioned barrels. This comes as Reliance Industries avoids Russian oil to steer clear of sanctions. Imports are expected to continue at a reduced level into next year. Russian crude is currently priced attractively.
Petronet LNG has secured a significant ₹12,000 crore loan. State Bank of India and Bank of Baroda are providing the funds. This financing will primarily support Petronet’s petrochemicals project. It will also cover other capital expenditure needs. The agreement follows a competitive bidding process. Petronet is India’s largest LNG importer. It operates regasification terminals in…
The Oil Ministry is planning a significant overhaul of Indian Oil Corporation’s board. Three director positions are set to be eliminated as part of an organizational revamp. This move aims to consolidate responsibilities and reduce leadership layers within the company. The restructuring comes as public sector enterprises face pressure to improve efficiency. IOCL’s top leadership…
Ola is the sole battery production linked incentive beneficiary with established capacity. Union minister H D Kumaraswamy informed the Lok Sabha. Ola’s current battery manufacturing capacity under the scheme is 1 GigaWatt hour. Other beneficiaries like Reliance New Energy and ACC Energy Storage have no current capacity. The center plans to support 50 GWh advanced…
Indian Oil Corporation has issued a tender for a liquefied natural gas cargo. The delivery is scheduled for January 20. The cargo is expected to arrive at the Dahej terminal. The tender process will conclude on December 9. This move signals India’s ongoing energy procurement efforts.
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 will continue purchasing oil from any source that proves profitable, prioritising its economic interests. This statement follows Russian President Vladimir Putin’s offer of uninterrupted fuel supplies to India. The two nations also agreed to strengthen trade and defense cooperation.
Japan’s top power generator JERA has signed its first long-term LNG export deal with India’s Torrent Power, supplying four cargoes annually for 10 years starting 2027. The LNG will fuel Torrent Power’s 2,730 MW power plants and be sold to households, small industries, and the transport sector.
Cairn Oil & Gas, part of Vedanta Group, has invited global partners to participate in multiple projects under its $5 billion investment plan for the next 2–3 years. The company, which holds interests in 55 blocks, is seeking international rig partners to provide and operate advanced rigs for 12 drilling sites, and is looking for…
Kugelman’s remarks come after Russian President reaffirmed Russia’s long-standing energy partnership with India, declaring that Moscow will remain a steady, uninterrupted supplier to New Delhi’s fast-growing economy, during his joint press address with Prime Minister Narendra Modi.