India’s Russia oil trade may dip again, stranding cargoes at sea
Ship-tracking data and people familiar with the matter point to a dip that would come after imports fell in December to a three-year low. That was a third below their peak in June.
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Maharashtra govt ramps up nuclear energy with MoUs worth Rs 6.5 lakh crore
Maharashtra has signed MoUs with four companies, including Adani Power and Reliance Industries, to attract Rs 6.5 lakh crore in nuclear energy investments. These projects aim to generate 25,400 MW of power and create 1,23,500 jobs, bolstering the state’s clean energy initiatives and contributing to India’s energy-rich nation goal.
In talks with govt to sustain operations: Nayara Energy
Nayara Energy, the Rosneft-backed refiner sanctioned by the EU, is in discussions with government and partners to ensure stable operations at its 20 million tonnes per annum refinery and maintain fuel supplies. The company emphasizes its commitment to meeting Indian consumer demand by supplying oil and oil products across the country.
India may get a crude hit from Trump’s curbs on Russian & Iranian oil buying freedom
The United States has ended sanctions waivers that allowed countries, including India, to buy Russian and Iranian oil without penalties, a move that could tighten global supplies and pressure Indian refiners. US Treasury Secretary Scott Bessent confirmed the decision, saying the temporary licenses for Russian and Iranian crude would not be renewed.
Indian Oil targets 20-30% revenue from non-fuel biz by 2030: AS Sahney, Chairman
Indian Oil Corporation is embarking on an exciting journey to enhance its non-fuel portfolio. With a vision to generate 20-30% of its revenue from emerging sectors such as gas, petrochemicals, lubricants, and renewable energy by 2030, the company is set to elevate its non-fuel business to an estimated ₹2-3 lakh crore.
Coal gasification can help cut dependence on imports: G Kishan Reddy
India aims to cut reliance on imported chemicals through coal gasification. The government is offering significant financial support and incentives for new projects. Companies have been urged to invest in coal gasification plants. A draft proposal is expected soon, with the scheme likely to launch by early July.
Iran war forces city gas firms to redraw strategies amid gas supply squeeze, shift focus to PNG expansion
City gas companies are shifting focus to domestic gas and accelerating pipeline construction due to supply disruptions from the Iran war. Tight LPG supply has led to a surge in piped natural gas connections. Companies are hiring more workers and investing heavily in infrastructure. Government support is also increasing, speeding up project approvals and execution…
Suezmax tanker with Iraqi crude reaches India after Hormuz transit
An Iraqi crude oil tanker is heading towards India after navigating the Strait of Hormuz. Commercial ship movements through the vital waterway are still low. This comes as the conflict enters its twelfth week. Iran has not eased its blockade of Hormuz. The tanker Karolos was seen sailing away from the strait. Vessel tracking data…
Nayara Energy to invest Rs 70,000 cr in India; says EU sanctions go against India’s interests
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.
Power companies approach HERC seeking relaxation in rules
Haryana power distribution companies have asked the Haryana Electricity Regulatory Commission for rule changes. They want to defer monthly fuel surcharge recovery. Instead, they propose recovering the amount in later financial years. This aims to balance utility finances and consumer interests. The Commission is seeking public feedback before a final decision.