BP is selling a major part of its Castrol lubricants business to Stonepeak for approximately $6 billion. This deal values Castrol at $10.1 billion. BP will keep a 35% stake in a new joint venture. The funds will help BP reduce its debt. This is a key step in BP’s plan to sell assets and…
Oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by ₹33.50, effective August 1, bringing relief to businesses. This follows a series of price cuts in recent months, driven by a drop in crude oil prices. While domestic LPG prices remain stable, increased adoption has doubled connections to 33 crore households.
India’s battery energy storage capacity will see a massive jump in 2026. Capacity is expected to rise nearly ten times from 2025 levels. This surge is driven by a significant number of projects moving from tendering to execution. The year 2026 marks a critical point for the industry. Projects awarded since mid-2023 will become operational.
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…
India plans to reduce exclusion zones around nuclear plants to free up land for expansions and attract private investment. This move, approved in principle by regulators, aims to cut land needs significantly, potentially allowing for greater nuclear capacity. However, the decision is expected to face public and political backlash due to safety concerns.
The Supreme Court has dismissed a petition challenging forest land diversion for an Adani group coal mining project in Singrauli, Madhya Pradesh. The court also rejected a plea against the Madhya Pradesh government’s approval. An activist had sought to declare the area an eco-sensitive zone, citing its importance as an elephant corridor and a biodiverse…
A long-standing financial disagreement between the Indian government and Reliance Industries Limited (RIL) regarding the KG-D6 oil block may reach a conclusion in early 2026. The dispute involves a USD 247 million claim by the government for a higher share of profits from the gas field. This legal process is currently in its final stages…
India has achieved a major milestone with its new fast-breeder nuclear reactor reaching criticality. This marks a significant step in a decades-old plan for energy independence. The reactor uses plutonium from spent fuel to generate electricity and more fissile material. This technology is complex and rare, with few countries operating such reactors.
Prime Minister Modi announced India’s commitment to energy independence through nuclear power reforms, opening the sector to private investment. With work underway on 10 new nuclear reactors, India aims to increase nuclear power generation capacity tenfold by 2047. The nation has already achieved its goal of sourcing 50% of its energy from clean sources ahead…
The recent decline in oil prices was unexpected, Kuwait’s Oil Minister Tariq Al-Roumi said on the sidelines of the Organization of Arab Petroleum Exporting Countries’ (OAPEC) ministerial meeting in Kuwait.