Indian refiners, heavily reliant on discounted Russian oil for high distillate yields, face significant challenges if supplies are disrupted. Replacing Russian crude would increase import costs by billions, straining fiscal balances and requiring a diversified, costly supply approach. While technically feasible, shifting away from Russian oil would erode refining margins and misalign product yields.
The Ministry of Power has updated its ‘Make in India’ rules for the power sector. A new plan will gradually increase local content in HVDC substations. This aims for 60 percent Indian-made components by 2035. The changes provide a transition for domestic industries to grow their capacity.
Arun Singh’s tenure as ONGC chairman is extended by one year. His leadership has stabilized crude production and improved gas pricing. ONGC has seen healthy profits and a significant share price increase. The company is now focused on cost optimization to manage soft crude prices. This strategic move aims to protect margins and sustain investor…
The Russian Embassy in India announced Moscow’s commitment to reducing the trade imbalance with New Delhi, focusing on expanding energy supplies and eliminating trade barriers. Despite the current political climate, mechanisms are in place to ensure a consistent oil flow to India. Bilateral trade is projected to increase by approximately 10% annually, with energy shipments…
US oil companies face significant hurdles in reviving Venezuela’s oil sector, despite President Trump’s optimism. Industry executives highlight the need for political stability and legal certainty before companies will commit billions, citing past expropriations and entrenched bureaucratic interests as major deterrents.
India’s Power Ministry has ordered imported coal-based power plants to run at full capacity for three months starting April 1. This directive aims to prevent electricity shortages during the summer. Peak power demand is projected to reach 270 Gigawatts. This measure ensures sufficient power supply to meet the anticipated surge in demand across the country.
The Abu Dhabi National Oil Company on Sunday pledged to spend $55 billion on new projects over the next two years, just days after the United Arab Emirates’ officially left the OPEC oil cartel. The UAE has been an OPEC member through the emirate of Abu Dhabi since 1967, four years before the former British…
Global oil stockpiles are shrinking at a record pace this month, with visible crude and fuel inventories falling by 8.7 million barrels daily. This sharp drawdown reflects severe supply disruptions tied to the Middle East conflict, leading to a tightening market and concerns about future availability.
Reliance Industries reported strong growth in its Oil-to-Chemicals (O2C) business in Q1 FY26, with EBITDA rising 10.8% year-on-year, driven by improved domestic fuel retail margins, a recovery in transportation fuel cracks, and better petrochemical spreads. However, O2C revenue declined 1.5% due to lower crude prices and reduced volumes amid a planned shutdown.
India and US nuclear industry leaders met to boost collaboration. Discussions focused on reducing costs and construction times for nuclear power projects. India aims for 100 GW nuclear capacity by 2047. The US delegation represents advanced reactor technologies and fuel cycle innovation. New opportunities for partnerships in project development and manufacturing are being explored.