Vessel tracking data suggest that the demand for Russian crude oil seems to be picking up, especially among India, China, and Turkey, according to media reports. The three countries have been Russia’s most reliable buyers of its crude during its ongoing conflict with Ukraine amid sanctions threat, reports said. Shipments …
Read More »India Unlikely to Join G7 Push to Cap Russian Oil Prices to Counter Putin
India may not be the most excited member of the club planning to cap prices of Russian crude oil, reported Livemint. Recently, finance ministers of G7 countries led by the US, proposed that oil-related service providers may only be allowed to deal in Russian seaborne oil and petroleum products at …
Read More »India and Japan Considering Stakes in Sakhalin-1 Oil Project
The India-based Oil and Natural Gas Corp (ONGC) is looking to buy a stake in the Russian firm managing the Sakhalin-1 project, while Japan is holding talks with stakeholders to decide on the project, according to Reuters. Earlier this month, Russian President Vladimir Putin signed an agreement to transfer operations …
Read More »India will Produce 25pc of Its Oil Demand by 2030
Union Petroleum and Urban Affairs Minister Hardeep S Puri on Friday assured that the Indian petroleum industry was at the cusp of opportunity and will be able to produce 25 per cent of its crude oil demand by 2030. Interacting with the media at the inaugural event of the South …
Read More »India to Weigh Russia’s Offer on Sakhalin-1 Oil Project
India maintains a “healthy dialogue” with Russia and will look at what is offered following an announced ownership revamp to the Sakhalin-1 oil and gas project, Petroleum Minister Hardeep Singh Puri has told the Reuters news agency. Russia last week issued a decree allowing it to seize Exxon Mobil’s 30 …
Read More »Global Coal Market Receives a Boost from India
India’s energy sector will be needing an additional 28GW coal-fired power generation capacity by 2032, advisory body Central Electricity Authority (CEA) stated. These additions will be needed on top of the 25GW in thermal coal projects currently under construction. In its ‘Draft National Electricity Plan (Vol-1 Generation) CEA gives these …
Read More »India Says Share of Russian Oil in Total Purchases Jumped Six-Fold
India says Russian oil now accounts for 12% of its overall purchases of the commodity, with the ratio surging six-fold in the past few months, as Asia’s third-largest economy seeks to slow inflation back to target. “We speedily ramped up Russian oil imports from 2% to 12%,” Finance Minster Nirmala …
Read More »Foreign Investors are Piling into India’s Renewable Industry
As the world rapidly invests in renewables, in a bid to transition away from fossil fuels to a greener future, companies and governments are not just funding projects at home but also abroad. Several companies around the globe have highlighted India as a key market for their renewable energy investment, …
Read More »Why India is Pushing Ahead with Nuclear Power Plans
India is pushing ahead with plans to boost the country’s nuclear power capacity to meet its growing energy needs and reduce its carbon footprint. This is despite hurdles such as the cost and public opposition owing to safety concerns. The Indian government plans to triple its nuclear power generation capacity …
Read More »India’s Biggest Refiner to Spend $25 Billion on Net Zero Target
Indian Oil Corp., the country’s biggest refiner, said it plans to spend 2 trillion rupees ($25 billion) to achieve carbon neutrality by 2046. The company will target Scope 1 and 2 emissions under its net zero aim, Shrikant Madhav Vaidya, chairman of the state-owned refiner-cum-fuel retailer, said on Thursday. It …
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