The crude oil market is calm despite U.S. threats to India over Russian oil. Trump imposed tariffs due to India’s oil imports. These tariffs may halt U.S. imports from India. Trump aims to pressure Russia before meeting Putin. India might stop buying Russian oil to avoid tariffs. The market expects India to find alternative oil…
India’s increased Russian oil imports, saving billions, now face disruption due to new U.S. tariffs, potentially slashing exports and impacting jobs. This strains the delicate balance between India’s vital partnerships with both Russia and the U.S., forcing a recalibration of its foreign policy amid geopolitical pressures and economic concerns. The situation could also embolden China…
In March, household LPG sales experienced a notable 8 percent decline, largely attributed to state oil companies adjusting their supplies amid diminished imports due to the ongoing Iran conflict. Meanwhile, commercial LPG usage plummeted dramatically by 48 percent, and bulk LPG distribution to industries faced an alarming drop of 75.5 percent.
Adani Energy Solutions Limited has commissioned a 1,000 MW HVDC transmission link between Kudus and Aarey in Mumbai. This project, featuring the world’s first compact HVDC substation, aims to enhance Mumbai’s power supply reliability and integrate renewable energy sources. It was conceived following the 2020 Mumbai blackout to reduce reliance on in-city generation and strengthen…
Reliance Industries, ONGC, and BP Exploration have formed a joint operating agreement to explore Block GS-OSHP-2022/2 in the Saurashtra Basin. ONGC will operate the block, awarded under the Hydrocarbon Exploration and Licensing Policy. The consortium aims to assess and develop the hydrocarbon potential of the 5,454 square kilometre offshore area.
Reliance Industries is under scrutiny after the EU’s new diesel sanctions targeting Russian crude. The company recently bought Abu Dhabi’s Murban crude in a rare move and is reportedly exploring alternatives to Russian oil, which accounts for nearly half its imports. With Europe buying a fifth of Reliance’s fuel exports, the shift may impact sourcing…
China’s Foreign Minister Wang Yi has urged Iran to guarantee safe passage through the Strait of Hormuz. This critical waterway is vital for global oil trade. China, a major importer of Iranian oil, is concerned about energy disruptions. The call comes as Pakistan attempts to mediate new peace talks between the US and Iran.
The Supreme Court has directed all states and Union Territories to clear power distribution companies’ regulatory assets within four years, potentially raising electricity bills nationwide. This ruling addresses the accumulation of over Rs 1.5 lakh crore in regulatory assets, accumulated by discoms like BSES and Tata Power, mandating a roadmap for their recovery and strict…
Bangladesh’s High Court has ordered the Adani Group not to move ahead with its planned international arbitration in Singapore over a payment dispute with the Bangladesh Power Development Board (BPDB) until an ongoing investigation into their power purchase agreement is completed.
India’s crude oil imports saw a significant drop in March. Shipments from the Middle East were severely impacted by conflict, leading to a halt in transit through the Strait of Hormuz. To compensate, India increased its reliance on Russian oil. This shift altered the country’s top oil suppliers, with Russia remaining dominant and Saudi Arabia…