Oil smuggling isn’t easy. But despite obstacles, refiners are minting $1 billion every day
Oil smuggling remains highly profitable despite sanctions on Russia, Iran, and Venezuela, which together produce about 16 million barrels per day at a discount. Western sanctions create obstacles but fail to halt illicit trading. Smugglers continually find ways to circumvent restrictions, with non-Western countries still purchasing sanctioned oil, and the political will to enforce stricter…
India’s $67 billion infrastructure gap hampers Modi’s gas goals
Petronet LNG’s underutilized Kochi terminal highlights India’s struggle to reduce coal reliance due to infrastructure issues, high gas prices, and regulatory challenges. Despite Modi’s push for increased gas use, the share remains stagnant. Significant investment in pipelines and terminals is crucial to achieving the 2030 target of 15% gas in the energy mix and mitigating…
Indian Oil buying sanction-free Russian crude oil cargoes, chairman says
Indian Oil is purchasing Russian crude oil cargoes without involving sanctioned entities. The company predicts gasoline and diesel demand growth by the fiscal year 2026 and foresees weak petrochemical margins in 2025. Expansion of the Panipat refinery is expected by June 2026, while the construction of the Nagapattinam refinery awaits approval.
Bangladesh seeks full power supply restoration from Adani plant
Adani Power has been asked by Bangladesh to fully resume power supply from its 1600 MW plant in India after a period of reduced sales due to payment disputes and low winter demand. Bangladesh is making payments to settle overdue amounts. The country’s court has ordered a review of the power contract, possibly leading to…
Indian power giant discusses nuclear buildout with foreign firms
NTPC Ltd., India’s largest power producer, is discussing technology cooperation with multiple international firms to expand its nuclear energy capacity by 10 GW by 2033. The company is targeting both small modular reactors and larger ones as part of India’s decarbonization efforts, with ongoing talks including EDF, Holtec, and Rosatom.
Hindustan Petroleum plans to raise Vizag oil refinery capacity by as much as 20%
Hindustan Petroleum plans to increase the capacity of its Vizag oil refinery by 20% to meet rising local fuel demand. The company will also start operations at Vizag’s new units to improve yield and margins while building a petrochemical plant at its Barmer refinery to enhance petrochemical conversion.
ONGC signs pact with BP for oil exploration, trading
Oil and Natural Gas Corporation (ONGC) has signed a MoU with BP to explore collaboration in oil and gas projects in India and abroad. The partnership will focus on enhancing production, trading, and exploring new energy vectors. This collaboration aims to boost ONGC’s output, optimize management of fields, and create value in additional energy vectors…
Nuclear startup Clean Core raises $15.5 million for thorium fuel from Sumant Sinha, Deepak Parekh, others
Clean Core Thorium Energy, a US nuclear fuel startup, raised $15.5 million in funding over two rounds, with the latest closing in December 2024. The funds support commercialization of its ANEEL fuel for use in India’s reactors, in partnership with NTPC Ltd and L&T, pending regulatory approvals.
Jindal Nuclear plans to build 18GWe atomic power generation capacity, make significant investments
Jindal Nuclear plans to invest about Rs 1.80 lakh crore for building 18GWe of nuclear power capacity in India over the next two decades. This initiative aligns with the Government of India’s goal of achieving 100GWe of nuclear power by 2047. These projects will use advanced technologies, create jobs, and support sustainable economic growth.
JSW to invest Rs 16,000cr in power project in Bengal, eyes future expansion
JSW Group Chairman Sajjan Jindal announced a Rs 16,000 crore investment to develop a 1,600 MW power project in Salboni, West Bengal, with plans to double its capacity in the future. The project will boost JSW Energy’s total generation capacity to 30 GW, aiming for 20 GW by 2030, further solidifying its position as a…
