India prioritises energy security, emphasising the need for a clear global energy market perspective without double standards, according to Foreign Secretary Vikram Misri. This statement follows EU sanctions targeting Russia’s energy sector, including restrictions on the Vadinar refinery.
The oil tanker Talara, chartered by BP, departed from India’s Vadinar port without loading diesel as scheduled. The vessel was expected to load ultra low sulphur diesel for Africa on July 21. This occurred after Nayara Energy, partly owned by Rosneft, faced EU sanctions for dealing with Russian oil.
Indian private refiners, benefiting from discounted Russian crude, face challenges due to new EU sanctions banning imports of refined products made from Russian oil. Reliance and Nayara Energy, major exporters to Europe, will need to reroute supplies and rely on traders. The sanctions may increase fuel prices for Europe, while Indian state refiners are less…
The EU’s upcoming ban on fuels refined from Russian crude, effective January 21, could affect Indian exporters like Reliance Industries. Though delayed, the ban’s strict origin rules may target India, a major Russian oil importer. Exporters must now prove crude origin, complicating shipments. Reliance shares fell 3.3% amid concerns, despite a strong quarterly profit and…
Britain has imposed sanctions on 135 Russian shadow fleet oil tankers, targeting vessels used to evade restrictions and fund Moscow’s war in Ukraine. The move also includes sanctions on two firms linked to oil transport. The UK aims to curb Russia’s $24 billion oil trade since 2024 and tighten economic pressure as Russia continues its…
Nayara Energy, backed by Rosneft, has denounced the EU sanctions as unjust and harmful to India’s interests, reaffirming its commitment to invest Rs 70,000 crore in downstream projects. The company argues the sanctions threaten India’s energy security by disrupting petroleum product supplies.
The government has approved a restructuring of the boards of THDC India and NEEPCO, both subsidiaries of NTPC. This involves appointing a non-executive chairperson and redesignating the CMD position to Managing Director. The board size will be reduced to seven members, and certain director positions will be eliminated, aiming for streamlined decision-making.
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…