India is poised to increase its reliance on West Asian oil suppliers like Saudi Arabia, the UAE, and Iraq, as the US intensifies pressure on Russian crude imports. This shift comes as discounts on Russian oil narrow and the US imposes higher tariffs. While Russian oil imports will continue, India aims to diversify its sources…
The Ministry of Petroleum and Natural Gas asserts that E20 fuel enhances acceleration and reduces carbon emissions by approximately 30% compared to E10, with minimal impact on mileage. Dismissing concerns about insurance validity, the ministry highlights the program’s benefits, including reduced crude oil imports, increased farmer incomes, and significant CO₂ emission reductions.
Nayara Energy faces significantly reduced crude imports this month due to EU sanctions, impacting refinery operations and product exports. The company is struggling with payment challenges and seeking government assistance as domestic shippers withdraw support. To maintain operations, Nayara is relying on dark-fleet vessels and exploring alternative transportation methods.
An Indian diesel cargo is on its way to China. This marks the first such shipment since April 2021. The EM Zenith departed from Nayara’s Vadinar terminal. EU sanctions on Rosneft-backed refinery complicated payments for Nayara. The vessel initially headed to Malaysia but changed course. It is now destined for Zhoushan, China.
The oil ministry has rejected calls to lower the price of ethanol-blended petrol, stating that ethanol’s procurement cost is now higher than petrol. While ethanol has lower energy content, potentially reducing fuel economy, the ministry argues that efficiency drops are marginal, especially in vehicles designed for ethanol blends.
President Trump has imposed a 50% tariff on Indian exports, pressuring India to stop buying Russian oil. Former RBI Governor Raghuram Rajan says India can handle cutting Russian oil but warns the political fallout would be severe, as public pressure to bow to the U.S. would be unpopular. Tariffs risk harming trade and pushing India…
Chinese refiners are reducing Saudi oil orders, hinting at a shift towards Russian crude due to its competitive pricing. While China defends its Russian oil imports as legitimate, the US has pressured India with tariffs over similar purchases. India, in turn, criticizes the West’s double standards, highlighting their continued trade with Russia.
ONGC plans to invest over Rs 4,600 crore in Andhra Pradesh’s Konaseema District for oil and gas development, including drilling wells and establishing processing facilities. The project requires environmental clearance, with the EAC requesting a biodiversity assessment and restoration plan. This initiative is expected to create direct and indirect employment opportunities.
The crude oil market is calm despite U.S. threats to India over Russian oil. Trump imposed tariffs due to India’s oil imports. These tariffs may halt U.S. imports from India. Trump aims to pressure Russia before meeting Putin. India might stop buying Russian oil to avoid tariffs. The market expects India to find alternative oil…
Nobel laureate Abhijit Banerjee suggests India re-evaluate the benefits of cheap Russian oil imports following the US imposition of a 25% tariff on Indian goods, effectively raising duties to 50%. He proposes considering halting Russian oil purchases to potentially negotiate tariff removal with the US, especially given the impact on India’s exports.