Category: oil-&-gas
Latest US sanctions on Russia throw global oil trade into disarray, India scrambles
Tightened U.S. sanctions on Russian oil have disrupted trade with China and India, increasing demand for Middle Eastern and African crudes, and causing oil prices to rise. These sanctions have left millions of barrels of Russian oil floating on ships, forcing traders to find alternative sources and driving up shipping costs.
India to remain bright spot for petchem demand in 2025
India is expected to be a significant market for petrochemicals in 2025, driven by demand from electric vehicles, solar panels, and household appliances. Despite global oversupply and depressed margins, substantial investments are planned, including major projects in Gujarat. Resilience in local demand is being observed, particularly in the automobile sector.
BPCL signs term contract with Total
BPCL has signed a term contract with Total Energies Trading Asia for purchase of Middle Eastern crude oil. The contract is valid for one year starting April 2025, BPCL said in a statement without giving more details on the contract.
IOC to buy LNG from ADNOC Gas over 14 years
Indian Oil Corporation has signed a 14-year agreement to buy up to 1.2 million tonnes per annum of LNG from UAE’s ADNOC Gas starting 2026, valued at $7-9 billion. Bharat Petroleum also secured an agreement for 2.4 million tonnes of LNG annually starting April 2025. Additionally, Indian Oil will export LNG to Nepal for the…
NCLT okays JSW Energy’s buyout of KSK Mahanadi
The NCLT Hyderabad has approved JSW Energy’s revival plan for the bankrupt KSK Mahanadi Power Company, which has liabilities exceeding ₹32,335 crore. JSW Energy proposes a resolution of ₹15,985 crore. The revival is conditional on clearance from the Competition Commission of India.
Think Gas faces hurdles in connecting PNG to homes: CEO
Think Gas has faced challenges in connecting homes with piped natural gas due to the absence of trunk pipelines and customers’ preference for subsidised LPG, according to CEO Abhilesh Gupta. The merger with AG&P Pratham is ongoing, but plans for an IPO are uncertain. Gupta highlighted that regulations allow shifting targets if the trunk pipeline…
NHPC’s FY26 capex to be lower at ₹8,000 crore
NHPC Ltd plans a capital expenditure of over ₹8,000 crore in FY26, focusing on adding 1,620 MW hydro and 1,490 MW solar projects. The company’s current projects total around 9,314 MW under construction, with plans also in place for 20 GW of pumped hydro storage project developments.
In five years, Karnataka plans to add 35 GW transmission capacity
Karnataka is set to expand its transmission capacity to around 60-65 GW in the next five years, requiring an investment of ₹60,000 crore. The state will cover 40% of the investment, while competitive bidding will handle the rest. This expansion aims to address issues with renewable energy intermittencies and transmission congestion.
Freight rates for shipping Russian Urals oil to India rise in February, sources say
Freight rates to ship Urals crude from Baltic ports to India increased by around 20% in February, resulting in costs up to $8 million per voyage due to U.S. sanctions and rising exports. Higher freight costs mean Russian exporters earn less for oil as they spend more on shipping.
NTPC in talks with foreign nuclear firms for small reactors
NTPC is in discussions with foreign firms, including those from Russia and the U.S., for constructing small nuclear reactors. These small modular reactors can be scaled up to meet demand. NTPC intends to start its first nuclear project in Rajasthan soon and seeks to boost India’s nuclear capacity to reduce its carbon footprint.
