Indian refiners anticipate no government ban on Russian oil despite US pressure. India is firm on trade talks with the US. Conceding on crude oil would invite more demands. Focus is on projecting strength. Refiners placed lower orders for September. This is due to narrower discounts on Russian crude. Volumes for October may rise.
India is drawing on its Covid-era playbook to cushion the economic blow from the Iran war, with officials warning the disruption to energy supplies could rival the pandemic, threatening growth, widening the fiscal deficit, and pushing the rupee to record lows.
IndianOil has significantly increased Auto LPG supplies in Bengaluru by nearly 300 percent. This action addresses a sharp surge in demand caused by disruptions in private sector supply chains. The company is working to stabilize fuel availability for the city’s transport system. Supplies across Karnataka have also doubled. IndianOil’s outlets are operating without interruption to…
Oil prices remained stable as investors weighed potential supply disruptions from Iran’s intensifying protests against efforts to resume Venezuelan oil exports. Rights groups report over 500 deaths in Iran, with at least 1.9 million barrels of its oil exports at risk. Meanwhile, companies are scrambling to secure ships for Venezuelan crude, with initial shipments expected…
Hotels and restaurants are facing a severe blow due to a significant hike in commercial LPG cylinder prices. Industry associations are urging the government to intervene and roll back the price increase. This escalation in operating costs threatens further closures and job losses in the hospitality sector, a key employment generator.
India’s renewable energy sector is rapidly expanding, exceeding expectations for 2030 green goals, driven by solar and wind power growth. Executives highlighted skill gaps and payment risks as challenges, while emphasizing the need for hybrid projects and energy storage for reliable power.
In a significant win for regulatory bodies, the Supreme Court has upheld the Delhi High Court’s decision, exempting the fees collected by the CERC and DERC from GST. This ruling dismisses demands for an 18% tax on regulatory fees, affirming that these bodies perform quasi-judicial functions, not support services.
The Strait of Hormuz has effectively shut to global shipping after the US, led by Donald Trump, imposed a blockade on Iran-linked vessels, triggering retaliation from Tehran and bringing daily ship transits close to zero from a normal of about 135.
Nayara Energy, part-owned by Russia’s Rosneft, is seeking government assistance to establish a relationship with a domestic lender like UCO Bank after EU sanctions created reluctance among larger banks. The company needs a local bank to finance crude oil imports and facilitate payments for refined fuel exports. Despite healthy liquidity, Nayara faces challenges due to…
India is launching a national mission to conserve fuel amid global energy market turmoil. The government assures citizens of robust energy security and ample reserves. This collective effort aims to ease the nation’s financial burden from high international crude prices. Prime Minister Modi urges public participation to reduce consumption and protect foreign exchange reserves.