Tag Archives: India

Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments. Western punishments over Russia’s invasion of Ukraine have shifted global trade …

The World Bank’s Board of Executive Directors has recently approved 1.5 billion dollars in financing to accelerate India’s development of low-carbon energy. In a statement, the World Bank has said that the financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate …

In a recent interview, Gideon Rachman, Chief Foreign Affairs Commentator at the Financial Times, explored the growing relationship between the U.S. and India. The article primarily targets a British audience, but still playfully mock the Brits’ obsession with the “special relationship” between the UK and US. Most people acknowledge that …

India, the world’s fourth largest crude oil refiner, is expected to add one million barrels per day (mb/d) of refining capacity in the next five years. According to the latest refining capacity numbers by the International Energy Agency (IEA), India will increase its refining capacity from 5.2 mb/d in 2022 …

India’s government this week asked some of the biggest state oil refiners to launch rights issues with which the authorities plan to help fund the firms’ net-zero and energy transition goals, Reuters reported on Friday, quoting sources with knowledge of the matter. The government will be seeking equity in Indian …

Russia may account for almost a third of India’s oil imports by the end of the current financial year, Arun Kumar Singh, the head of India’s Oil and Natural Gas Corp Ltd, was cited as saying on Saturday by Russian news agency Interfax. “The share of Russian oil imports, which …

India will soon overtake China as the largest driver of global oil demand, International Energy Agency (IEA) chief Fatih Birol said on Wednesday, according to Reuters. Birol made this statement during a G20 event in New Delhi, emphasizing the “rapid growth of electrification in cars and buses in China as …

Lloyd’s Register has removed the certification of 21 vessels operated by Indian shipping company Gatik Ship Management, which is one of the biggest shippers of Russian oil abroad. “Lloyd’s Register is committed to facilitating compliance with sanctions regulations on the trading of Russian oil,” Lloyd’s Register told Reuters, which reported …

Union minister for petroleum and natural gas Hardeep Singh Puri on Wednesday said that India will turn into as a major green hydrogen hub and exporter by 2040, catering to both domestic and global demand. Speaking at the CII Annual Session 2023, the minister said that the energy demand in …

Australia and India on Wednesday pledged to work closer to advance renewable energy, increase cooperation in the critical minerals sector, and study green hydrogen development during a visit of Indian Prime Minister Narendra Modi to Australia. “Renewable energy was once again a focus and an important topic in our discussions,” …