The former promoters of Bhushan Steel and Power Limited have appealed to the Supreme Court. They want their review petition against the company’s liquidation order to be heard in open court. The petition challenges the previous verdict which had set aside JSW Steel’s resolution plan. The promoters argue that the assigned liquidation value was too…
Following EU sanctions on Rosneft-part-owned Nayara Energy, the Indian refinery has tightened its sales conditions, now requiring advance payments or letters of credit for naphtha shipments. This shift highlights the wider impact of escalating restrictions against Russia-linked energy as India becomes a key destination for Russian crude, while the EU previously remained a market for…
Hindustan Petroleum Corp (HPCL) has launched a tender to procure 10 LNG cargoes for its Chhara import terminal. The deliveries are scheduled between March 2026 and December 2027, with specific monthly requirements outlined for certain months in both years. The tender is set to close on July 21, as the company aims to secure its…
The global oil market is undergoing a significant shift. Demand now peaks in the third quarter, not the fourth. This change is due to factors like declining heating oil use and increased summer travel. Emerging nations’ consumption patterns also play a role. Despite current stability, a surplus is expected this winter. Increased OPEC+ production and…
India’s crude imports from Russia were valued at $50.3 billion in FY25, accounting for more than a third of the country’s total crude bill of $143.1 billion. Indian refiners, including RIL, process this crude and export petroleum products globally, including to the EU.
Russian oil major Rosneft has condemned the EU’s sanctions on its Indian subsidiary Nayara Energy, calling them “unjustified and illegal.” The EU recently imposed fresh restrictions on Russia, including a price cap reduction and sanctions on Nayara, alleging links to Russian crude exports. Rosneft argued that it holds less than 50% stake in Nayara and…
India’s petroleum exports worth $15 bn to the European Union may be at risk due to the EU’s new sanctions targeting refined products made from Russian crude, even if processed in third countries. According to think tank GTRI, the move could impact countries like India, which imports large volumes of Russian oil and exports refined…
Petroleum and Natural Gas Regulatory Board directs Delhi gas retailers to implement uniform pricing for piped natural gas. This eliminates tiered pricing based on consumption. The move prevents potential misuse of subsidized gas intended for households. It also addresses concerns about unfair charges for higher consumption. The regulator wants a review of consumption patterns. They…
India aims to achieve 100 GW atomic power by 2047. The government plans to amend laws to encourage private sector investment in nuclear energy. These changes address global concerns about liability. The goal is to meet global benchmarks and become a developed nation. India is also expanding nuclear power capacity significantly.
NTPC has stopped the installation of Flue-Gas Desulphurisation systems at five under-construction power plants. This follows a government notification exempting many thermal plants from needing FGD. The order impacts projects with over 7 GW capacity. Bharat Heavy Electricals Limited may seek compensation. The Ministry of Environment, Forest and Climate Change issued the exemption.