Global energy giant Shell will foray into retailing LNG for long-haul transportation like trucks, with its first filling station coming up in Gujarat this year as it bets big on the Indian gas market, a senior company official said. Shell operates a 5 million tonnes a year liquefied natural gas …
Read More »Russian Oil Continues to Flow to India and China
It has been exactly six weeks since Russia invaded Ukraine, with no end in sight to one of humanity’s biggest existential crises in modern times. In response to Russia’s unprovoked and unjustified war, the United States and the West have hit the rogue nation with a plethora of sanctions, with …
Read More »Some Indian Refiners Set to Cut May Saudi Oil, Snap up Russian Barrels
At least two Indian refiners plan to buy less Saudi oil than usual in May, after the kingdom raised the official selling price (OSP) to record highs for Asia, two sources said on Wednesday, as India increases purchases of cheap Russian crude. India, the world’s third biggest oil importer and …
Read More »India will not Pay in Rupees for Russian Oil, for Now
For the time being, India will not pay in rupees for oil from Russia or any other oil exporter, the junior petroleum minister of the world’s third-largest oil importer said on Monday. “At present, oil public sector undertakings neither have any contract nor is any such proposal under consideration from …
Read More »India Hopes for Oil from Iran, Venezuela
India is pinning hope on the resumption of crude oil supplies from Venezuela and Iran. India, the world’s third-largest energy-consuming and importing nation, is pinning hope on resumption of crude oil supplies from Venezuela and Iran as well as higher production from OPEC+ nations to help cool international oil prices …
Read More »Russia Looks to Charm India with Cheap Oil Supplies
Shunned by the West, Russia is looking to the East for partners in its oil and gas sector and for willing buyers of its crude. The closest partner east of Moscow is China, the world’s top oil importer, which is reportedly already taking advantage of the exodus of western companies …
Read More »India’s Oil Titan Plans to Spend $4bn on Energy Hunt as Prices Rally
India’s Cairn Oil & Gas, a unit of Vedanta, will spend as much as $4 billion over the next three years to more than triple its production, as high prices attract more investments. India’s biggest non-state producer, controlled by billionaire Anil Agarwal, plans to drill more wells to explore new …
Read More »Asian Nations Try to Relieve Energy Price Pain
Asian governments are taking measures to soften the impact of escalating oil and LNG prices on their economies and help consumers with subsidies and tax cuts. However, such measures probably won’t be sufficient to offset the sharp increase in energy prices, which is adding to inflationary pressures. Brent crude oil …
Read More »India Looks to Gulf for Oil to Replace Russian Supply
State-run Indian refiner Bharat Petroleum Corp is seeking extra oil from Middle Eastern producers for April, fearing Western sanctions against Russia could hit deliveries of Urals crude, a source familiar with the matter said. BPCL, India’s second biggest state refiner, on average buys two million barrels of Russian Urals every …
Read More »India Aims to be Green Hydrogen Hub
India has unveiled the first part of a drive to attempt to turn the world’s third-largest emitter of greenhouse gases into a “hub” for green hydrogen. Green hydrogen is produced using non-fossil fuel power and is then used in carbon-heavy industrial processes like making steel and concrete, and for transportation. …
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