Tag Archives: India

Europe banned most oil shipments from Russia almost a year ago, but it’s binging on diesel that may well have been made from Russian crude. The region’s imports of diesel from India, one of the biggest buyers of Russian crude, are on course to soar to 305,000 barrels a day, …

State-run Oil and Natural Gas Corp.’s quarterly earnings missed estimates as a slump in production and crude prices offset gains from higher gas rates. The New Delhi-based company’s net income declined 20% from a year earlier to 102.2 billion rupees ($1.2 billion) in the quarter ended September, according to a …

India, the world’s third largest oil importer and consumer, has emerged as the top buyer of the discounted Russian seaborne oil after Western nations stopped buying from Moscow following its invasion of Ukraine. Middle Eastern supplies are also likely to tighten further following Saudi Arabia’s decision to extend its voluntary …

India plans to introduce new rules requiring domestic manufacturers to make solar cells and other key components in the solar module supply chain, India’s Minister of Power and New & Renewable Energy, Raj Kumar Singh, said on Friday. The new rules could be introduced in a couple of years, the …

India’s government is expected to reject demands from Russian oil companies to pay for Russia’s crude oil imports in Chinese yuan, Indian officials told Bloomberg on Friday. Russia and its companies need Chinese currency as Russian trade has become much more reliant on China after Putin’s invasion of Ukraine and …

India’s diesel exports loading for Europe hit a record high in September amid open arbitrage for westbound shipments, Reuters reported on Wednesday, citing tanker-tracking data and analysts. Last month, diesel cargoes loading from India and bound for Europe averaged between 280,000 barrels per day (bpd) and 303,000 bpd – or …

There is widespread speculation that India could soon overtake China in terms of its oil demand to become the biggest consumer in the world. As China’s investment in renewable energy, metals and minerals and electric transportation begins to pay off, the Asian giant may soon no longer be the biggest …

Petroleum and natural gas minister Hardeep Singh Puri has urged the Organization of the Petroleum Exporting Countries (OPEC) to show sensitivity to oil consuming-nations and curb output cuts. Taking to X, formerly Twitter, Puri said he discussed the global energy scenario during a meeting with OPEC secretary general Haitham Al …

India’s state power giant NTPC Ltd reported on Tuesday an 83% jump in coal production from the mines it operates in the first half of the 2023/24 fiscal year as India continues to rely on coal to meet most of its electricity demand. Coal still generates around 70% of the …

Cheaper Russian crude compared to Middle Eastern alternatives has prompted Indian refiners to import more crude from Russia in September compared to a seven-month low in August, according to preliminary tanker-tracking data. India’s crude oil imports from Russia rebounded amid tighter market and more expensive crude from the Middle East, …