Sources in the Indian oil sector revealed that in June, the country’s oil imports from Iraq dropped to their lowest points since September 2020. According to Shafaq News, Indian refineries have already reduced their imports of oil from several Middle Eastern producers that raised prices early this year. The Iraqi …
Read More »India Cuts Iraq Oil Imports to Lowest since 2020 amid Russian Supply Surge
India’s imports of Iraqi crude oil plummeted in June to their lowest level since September 2020, industry data revealed this weekend. Indian refineries have been scaling back purchases from traditional Middle Eastern suppliers that raised prices earlier this year, the data showed. “Part of the reason is that they (Iraq) …
Read More »India to Apply for Deep-Sea Critical Minerals Mining in the Pacific
India plans to apply for obtaining licenses for deep-sea mining of minerals key for the energy transition in the Pacific, a senior government scientist told Reuters on Monday. India has been exploring ways to own and develop critical minerals assets abroad as its renewable energy rollout is soaring and as …
Read More »Russia Cuts Crude Exports to China and India by 17%
Russia’s four-week average seaborne oil exports fell to 3.11 million barrels a day as of July 14, down by almost 600,000 barrels or 17% from their recent peak in April, Bloomberg has reported. The country’s seaborne crude shipments have now sunk to the lowest since January and are likely to …
Read More »India to Launch 10th Round for Oil, Gas Blocks
India is set to launch its tenth bidding round for oil and gas blocks in August or September, the Directorate General of Hydrocarbons (DGH) has said. The latest round will include 25 blocks across 13 sedimentary basins, which are essential for exploration and production activities. The areas on offer range …
Read More »India’s Steel Industry Battles Cheap Chinese Imports
China has included a Tesla model for the first time in its list of cars the government and party can use as a service car, according to Chinese media. Tesla’s Model Y can now be purchased by government, party, and public organizations in the new batches of new energy vehicle …
Read More »World Bank to Give 1.5 Billion Dollars to India for Clean Energy Transition
The World Bank will give India $1.5 billion to finance a second operation to help accelerate the development of low-carbon energy. This is the second operation which is being supported by the World Bank and cleared by the executive directors’ board. The first tranche of $1.5 billion was sanctioned in …
Read More »India’s Oil Imports from Russia at Record high
India’s oil imports from Russia rose to a record of about 2.1 million barrels per day (bpd) in May as discounts for Russian oil widened on lower demand from China, according to trade sources and shipping data. That boosted Russia’s share in the world’s third largest importer and consumer to …
Read More »India Seeks Tighter Regulatory Control over LNG Import Terminals
The Indian Petroleum and Natural Gas Regulatory Board (PNGRB) is considering increasing regulatory control over India’s LNG import terminals, which could slow investments in the sector due to the potentially tightened oversight. PNGRB has issued a draft proposal of new regulations which include certification of registration by PNGRB for each …
Read More »India’s New Coal Power Capacity is Set to Soar in 2024
India expects to add as much as 15.4 gigawatts (GW) of new coal-fired power capacity this year, the most in nearly a decade, anonymous sources with knowledge of the matter told Bloomberg on Wednesday. India, the world’s second-largest coal consumer, looks to boost baseload capacity amid surging power demand and …
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