Indian Oil Corporation has bought Colombian crude for the first time. This move diversifies India’s oil sources away from Russia. Indian refiners are seeking new suppliers due to sanctions. Indian Oil Corporation secured two million barrels of Castilla crude. This purchase is for delivery in late February. The company has an option to buy more.
Trump tariffs on India: The US decision to double tariffs on Indian goods due to Russian crude purchases has placed India in a difficult position, potentially disrupting its refining industry and straining relations with both Moscow and Washington. While India saved modestly on discounted Russian oil, its exports to the US are substantial.
Numaligarh Refinery Limited has secured a significant deal. The company will sell 52,500 Metric Tonnes of Sulphur annually to Progressive Fertichem Private Limited. This marks the first commercial agreement post the refinery’s expansion project. The deal ensures a long-term off-take for the refinery’s Sulphur production. This partnership is expected to boost NRL’s revenue and signals…
India’s electricity regulator is reviewing power exchange transaction fees. A fixed fee of 1.5 paise per unit is being discussed for most trades. Lower fees for longer-term contracts are also under consideration. This move aims for greater transparency and predictability for market participants. The regulator is also planning market coupling from 2026. This could benefit…
Iran has indicated that the United States may be ready to ease its naval blockade, with envoy Amir Saeid Iravani saying Tehran has received signals of a possible shift. Iran has also urged the United Nations to press for the immediate release of its seized vessel Touska, calling the US action unlawful.
Reliance Industries’ Oil-to-Chemicals segment faced margin pressures in the March quarter due to rising crude premiums, elevated freight, and insurance costs. Despite strong global refining margins, the company reported a 3.7% year-on-year decline in O2C EBITDA, impacted by higher fuel costs and policy interventions.
Donald Trump has commented on the fluctuating prices of oil and gas. He believes these costs could either decrease or increase before the upcoming US midterm elections. This statement underscores the current unpredictability in global energy markets. Geopolitical tensions and supply disruptions are key factors influencing these price movements. The situation remains uncertain as the…
DCNT Global has commissioned a 3GWh battery energy storage system (BESS) plant in Khed City, Chakan, Pune. The fully automated facility is set to begin production in Q3 2025. This initiative supports India’s renewable energy targets and aims to meet the increasing demands of various sectors while contributing to national green energy initiatives.
US firm I Squared Capital is investing one billion dollars in India’s power transmission sector. A new entity, Cube Grid, will build essential grid infrastructure. This move taps into a multi-decade opportunity driven by India’s growing energy needs. The company sees stable, long-term returns from transmission projects. This investment will support India’s economic growth and…
Vedanta Ltd’s Meenakshi Energy Ltd (MEL) has fully operationalized its 1,000 MW thermal power plant in Tirupati, Andhra Pradesh, within two years of acquisition. The plant, comprising two 350 MW and two 150 MW units, will supply reliable energy to industrial clusters and stable baseload power to grids. This achievement underscores Vedanta’s commitment to India’s…