Nayara Energy, facing EU sanctions as a major buyer of Russian oil, sued Microsoft in Delhi High Court after its services were suspended. Accusing Microsoft of corporate overreach, Nayara argued the abrupt suspension impacted critical operations. Microsoft restored services, leading Nayara to withdraw its petition, with the court granting leave to re-approach if similar issues…
ABB India has implemented a system for THINK Gas. This system automates and digitalizes THINK Gas’s city gas distribution network. The network spans 10 Indian states. ABB’s cloud-based platform centralizes operations. It provides real-time visibility from Chennai. The system monitors and controls gas distribution. It supplies Compressed Natural Gas to over 500 fuel stations.
Indian refiners may face setbacks due to the EU’s 18th sanctions package against Russia, which bans imports of refined products made from Russian crude via third countries. Indian exports to the EU, worth $14.3 billion in FY25, are at risk. The sanctions also lower the crude oil price cap and restrict transport services, limiting market…
Nayara has been forced to scale back operations at its 400,000-barrel-per-day refinery for lack of sufficient fuel storage and vessel owners’ demand to end their contracts after it was hit by the EU’s latest sanctions.
India’s High Commissioner to the UK, Vikram Doraiswami, defended India’s oil imports from Russia, emphasizing the necessity to sustain the nation’s economy. He pointed out the hypocrisy of Western nations criticizing India while themselves procuring resources from similar sources. Doraiswami also highlighted India’s long-standing security ties with Russia, forged when Western partners were unwilling to…
Petroleum Minister Hardeep Singh Puri announced a surge in India’s oil and gas exploration, particularly offshore, driven by opening ‘No-Go’ areas in 2022. Since 2015, 172 hydrocarbon discoveries were reported, with 62 offshore. ONGC and OIL have launched ambitious exploration campaigns, including ultra-deepwater drilling in the Andaman region, following promising seismic data.
Several top executives have left Nayara Energy. This includes directors and senior personnel. The resignations follow EU sanctions on the Rosneft-backed company. Those who resigned are Victoria Cunningham, Avril Mary Anne Conroy, Jorg Tumat, and Barbara (Hofbauer) Oberhauser. Alessandro Des Dorides also quit earlier. Nayara Energy has denounced the sanctions. Sergey Denisov is the new…
Reliance Industries, ONGC, and BP Exploration have formed a joint operating agreement to explore Block GS-OSHP-2022/2 in the Saurashtra Basin. ONGC will operate the block, awarded under the Hydrocarbon Exploration and Licensing Policy. The consortium aims to assess and develop the hydrocarbon potential of the 5,454 square kilometre offshore area.
India’s oil and gas sector is strategically transforming amidst global shifts, with Russian oil now dominating imports at 35% in FY25, a surge from 2% in FY20. This shift impacts Middle Eastern suppliers as India safeguards its USD 44.4 billion petroleum exports amid US sanctions. While India’s crude import dependency rises to 88.
In June, India and Taiwan emerged as the primary destinations for Russian seaborne naphtha exports, driven by competitive pricing and robust domestic demand. India’s imports reached 250,000 tons, while Taiwan doubled its intake to 234,000 tons. Due to Red sea crisis, shipments are being rerouted via Southern Africa, impacting delivery times and costs.