Tag Archives: India

India’s energy consumption is growing at three times the global average with the nation’s oil imports estimated at five million barrels of crude oil in a day, the Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said. By keeping domestic fuel prices “affordable” for consumers, India’s energy consumption is …

India may be the world’s second-largest steel producer, yet it continues to grapple with reliance on steel imports. In the last few months, China has emerged as a major steel exporter to India, leading to protests from India’s domestic sector. Indeed, India’s June 2023 steel imports rose by 5.9% month-on-month …

For years, climate experts have been begging the world’s biggest economies to wean themselves off of fossil fuels. Instead, coal use is at an all time high, hitting a brand new record of 8.3 billion metric tons in 2022, up 3.3% from the prior year, according to figures from the …

India’s imports of Russian oil dropped for a second month and are expected to slip even further as the key OPEC+ producer starts trimming exports in August to help balance the global market. Daily volumes fell to 2.09 million barrels last month, down from 2.11 million barrels a day in …

India has initiated exploratory talks with Iraq to assess the possibility of building facilities to liquefy natural gas that is flared at the West Asian country’s oil and gas facilities, and transporting it as liquefied natural gas (LNG) to India, a senior government official said. The proposal came up during …

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 …