Tag Archives: India

The European Union has increased its imports of Russian liquefied natural gas (LNG) by 9% since the war in Ukraine began in 2022, even as it calls out other nations for allegedly financing the Kremlin. According to The Economic Times, Russian LNG shipments to the bloc rose while purchases from …

U.S. President Donald Trump on Monday said he would “substantially raise tariffs” on Indian exports in response to the country’s continued import and resale of Russian crude oil. The remarks, posted on Truth Social, marked the first time Trump directly tied trade penalties to India’s energy sourcing decisions, according to …

Tankers loaded with Russian crude that had stayed idle off India’s coast for days discharged their cargo at Indian oil import terminals over the weekend, in defiance of the U.S. threats of additional “penalties” on the world’s third-largest crude importer for buying Russian oil. While Indian refiners last week were …

India’s state-run refiners have requested urgent guidance from the government in New Delhi following a social media post by U.S. President Donald Trump, reported by AP News, announcing a 25% tariff on Indian exports to the United States effective August 1, and warning of an additional penalty tied to India’s …

Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, is considering the construction of a new refinery with a capacity of between 200,000 barrels per day and 240,000 bpd, a source from the company told Reuters on Thursday. ONGC …

India should boost its petrochemicals production to meet local demand and counter China’s growing global lead in the sector, a senior executive at India’s top private refiner, Reliance Industries, said on Friday. India needs to bolster its petrochemicals presence as China is taking over “the entire petrochemical industry”, Vikram Sampat, …

India, the world’s third-largest crude oil importer, which depends on imports for about 85% of its daily consumption, considers building three new sites to raise its strategic petroleum reserves. Engineers India Ltd, a state-run engineering consultancy, is doing feasibility studies, L R Jain, chief executive at the state company managing …

For decades, China has driven the lion’s share of oil demand growth thanks to its remarkable economic boom and large population. However, China is now losing its prominence in global oil markets due to a dramatic slowdown in its economy coupled with the country’s ongoing electric vehicle revolution. Last year, …

Russia hiked its fuel oil and vacuum gasoil (VGO) exports to India and Turkey in May as buyers preferred to purchase more fuel oil amid falling prices, according to shipping and trade data reviewed by Reuters. Russia’s oil products have been banned in the EU and other Western countries since …

Slowing fuel demand in China and weaker growth elsewhere have prompted the biggest private refiners in India to raise their fuel sales at home as margins abroad are falling. Reliance Industries of billionaire Mukesh Ambani, as well as Nayara Energy, whose largest shareholder is Russia’s oil giant Rosneft, are increasing …