India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations. That means the Kremlin is enjoying stronger revenues despite the West’s attempts to curb funds for Russia’s …
Read More »Gazprombank Strengthens Partnership with Indian Banks to Expedite Trade
Trade between India and Russia has experienced a significant boost since the West imposed sanctions on Russia last year for its invasion of Ukraine. This has led to a change in the flow of oil and other goods, making Russia the largest supplier of crude to India this year. The …
Read More »India Looks to Kickstart Hydrogen Production with $2 Billion Plan
The future of global hydrogen is looking brighter as India, this week, presented a $2 billion subsidy scheme to push domestic hydrogen fuels, and Rystad Energy foresees a 700% growth of global hydrogen pipelines by 2035. Without an increase in hydrogen transport infrastructure, most projects will still face an uphill …
Read More »India’s Russian Oil Imports Now Double of Iraq
India’s imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq – the nation’s traditional top oil supplier. But the purchases appear to have plateaued as growth has slowed. Russia continued to be …
Read More »India Plans to Add 250 GW of Renewable Energy Capacity by 2028
India is looking to boost its renewable energy capacity by 250 gigawatts (GW) over the next five years as part of a plan to have 500 GW of installed clean energy capacity by 2030. The Indian government will invite bids for installation of 50 GW of renewable capacity each financial …
Read More »India Mulls LNG Reserve to Avoid Future Shortages
India is reportedly considering the creation of a strategic reserve of liquefied natural gas (LNG) to protect against potential supply shortages or price spikes in the future, following the country’s energy crisis last year, according to a senior executive at India’s leading LNG importer. The government has “proposed we should …
Read More »India to Ensure No Breach on Russia Oil Purchase Sanctions
India will not breach Western sanctions on Russia including the price cap of $60 imposed on purchases of oil from Moscow, according to people familiar with the matter. Government authorities have asked banks and traders to adhere to the rules, the people said, declining to be identified as the information …
Read More »India’s Oil Deals with Russia Dent Decades-Old Dollar Dominance
U.S.-led international sanctions on Russia have begun to erode the dollar’s decades-old dominance of international oil trade as most deals with India – Russia’s top outlet for seaborne crude – have been settled in other currencies. The dollar’s pre-eminence has periodically been called into question and yet it has continued …
Read More »Iraq Ranks Second as India’s Largest Oil Source
India’s imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and is now higher than combined imports from traditional suppliers Iraq and Saudi Arabia. Iraq, whom Russia has toppled to become the largest oil source for India, supplied 9,39,921 barrels per day …
Read More »India’s Russian Oil Imports Hit Record High in Feb; Now more than Iraq, Saudi Put together
India’s imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and is now higher than combined imports from traditional suppliers Iraq and Saudi Arabia. Russia continued to be the single largest supplier of crude oil, which is converted into petrol and diesel …
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