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Mumbai, March 12: The Liberian-flagged crude oil tanker Shenlong successfully docked at Mumbai Port on Wednesday, March 12, marking the first successful transit of an India-bound oil vessel through the Strait of Hormuz since the outbreak of full-scale hostilities between the US, Israel, and Iran. Carrying approximately 2 million barrels of Saudi Arabian crude, the vessel's arrival provides a critical reprieve for Indian refineries that have faced dwindling stocks and soaring procurement costs. ...Read More >
S&P Global Ratings warns that rising crude oil prices and potential government intervention could squeeze the profit margins of Indian oil marketing companies like IOC, BPCL, and HPCL, impacting consumers and the energy sector. Illustration: Uttam Ghosh Key Points * S&P Global Ratings predicts potential margin squeeze for Indian oil marketing companies due to rising crude oil prices. * Geopolitical tensions and the Strait of Hormuz closure contribute to crude oil price volatility, impacting ...Read More >
Indian businesses say they are struggling to keep operations running as gas supplies are disrupted by the US and Israel's war on Iran. Restaurant owners are scrambling to keep kitchens running and entrepreneurs in industries like ceramics and fertilisers say they are unable to maintain their production and are warning of shutdowns. India has said it is not short of gas but has invoked emergency measures to ensure supplies get to domestic consumers and other key users. The country meets half o ...Read More >
New Delhi [India], March 11 (ANI): Rajya Sabha MP Kapil Sibal on Wednesday acknowledged the government's decision to prioritise domestic LPG production for household use, calling it a necessary step to ensure benefits reach consumers directly. Speaking to ANI, the Rajya Sabha MP also asserted that a significant impact on Indian industries was inevitable due to the ongoing conflict between the USA, Israel, and Iran. "These are consequences, this was bound to happen, the war will continue, it wi ...Read More >
New Delhi, Mar 11 (PTI) India's state-owned oil marketing companies - Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited - are under pressure from rising global crude and gas prices, limited domestic fuel price pass-through, and dependence on imported energy, global rating agencies said. India imports 88 per cent of its crude and nearly half its natural gas, with 30-55 per cent of supplies passing through the Strait of Hormuz. Strat ...Read More >
Chennai (Tamil Nadu) [India], March 11 (ANI): Tamil Nadu Chief Minister M K Stalin on Wednesday wrote to Prime Minister Narendra Modi highlighting urgent issues affecting the state and Tamils residing in West Asia amid the ongoing tensions in the region. In a post on X, Stalin said he urged the Centre to take immediate steps to ensure uninterrupted LPG supply for domestic, commercial and industrial consumers in Tamil Nadu in view of the ongoing situation in West Asia. Also Read | 'India Doesn' ...Read More >
New Delhi, Mar 11 (UNI) The ongoing unrest in West Asia appears to be destabilising the global energy sector, raising concerns over disruptions in oil supplies through critical chokepoints such as the Strait of Hormuz and attacks on energy infrastructure. In the midst of the crisis, the Strait of Hormuz, often described as the world's most important oil transit chokepoint, has come under renewed focus due to its central role in global energy trade. According to estimates by the United Nations ...Read More >
Chennai (Tamil Nadu) [India], March 11 (ANI): Tamil Nadu Chief Minister M K Stalin on Wednesday wrote to Prime Minister Narendra Modi highlighting urgent issues affecting the state and Tamils residing in West Asia amid the ongoing tensions in the region. In a post on X, Stalin said he urged the Centre to take immediate steps to ensure uninterrupted LPG supply for domestic, commercial and industrial consumers in Tamil Nadu in view of the ongoing situation in West Asia. CM Stalin also sought urg ...Read More >
New Delhi, Mar 11 (PTI) State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing the impact of elevated global energy prices will lead to heightened margin and cash-flow volatility, Moody's Ratings said on Wednesday. "Domestic retail prices of fuels have remained largely steady since April 2022, despite swings in global oil and gas prices and the country's high dependence on imports," Moody's said i ...Read More >
Bhubaneswar: Vedanta Aluminium, one of the world's leading aluminium producers, has successfully scaled up operations at its Lanjigarh Refinery to 5 million tonnes per annum (MTPA), marking a major milestone in the company's growth trajectory and reinforcing India's push towards self-reliance in the aluminium sector. With the expansion, Vedanta's Lanjigarh facility has emerged as the world's second-largest alumina refinery. The scale-up raises India's total alumina refining capacity to nearly 1 ...Read More >
New Delhi, Dec 16 (PTI) The PM Surya Ghar: Muft Bijli Yojana has delivered zero electricity bills to over 7.7 lakh households in the country out of the total 24.35 lakh households benefited under the scheme, Parliament was informed on Tuesday. The Centre launched PM Surya Ghar in February 2024 with an aim to achieve rooftop solar (RTS) installations in one crore households in the residential sector by FY 2026-27 with an outlay of Rs 75,021 crore. "As on December 9, 2025, a total of 19,45,758 R ...Read More >
New Delhi, Dec 16 (SocialNews.XYZ) India's green hydrogen production capacity is likely to reach 5 million metric tonnes per annum by 2030, the Parliament was informed on Tuesday. The National Green Hydrogen Mission (NGHM) aims to make India a global hub for production, usage and export of green hydrogen and its derivatives, Minister of State for New and Renewable Energy, Shripad Yesso Naik, told the Rajya Sabha in a written reply. The minister also listed the incentives and manufacturing init ...Read More >
During a press conference on energy sector, Goyal, former Power and New & Renewable Energy minister, said there is sufficient power capacity in the country. He said that the 500GW grid is one of the largest in the world. Union Minister Piyush Goyal on Monday said India is a preferred destination for data centres as the country has no dearth of electricity and its 500GW national grid can take care of surge in demand. During a press conference on energy sector, Goyal, former Power and New & Rene ...Read More >
NEW DELHI, Dec 15: Minister of Science & Technology Dr Jitendra Singh today introduced the landmark Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Bill, 2025 , that is "SHANTI" Bill 2025, in Parliament on Monday. The Bill aims to repeal both the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010 and open India's highly restricted nuclear power sector to private participation. Last week, the Union Cabinet gave nod to the landmark atomic ...Read More >
New Delhi: City gas distributors are finding it increasingly difficult to acquire new industrial and commercial customers as natural gas remains costlier than competing liquid fuels. In the first half of this financial year, new factory connections fell 39% year-on-year, while additions in the commercial segment declined 17%, according to data published by the Petroleum and Natural Gas Regulatory Board. City gas companies added only 555 new industrial customers and 1,599 commercial customers du ...Read More >
New Delhi, Dec 15 (SocialNews.XYZ) The Reserve Bank of India, as on March 31 this year, held 879.58 metric tonnes of gold as compared to 822.10 metric tonnes as on March 31, 2024, reflecting an increase of 57.48 metric tonnes, the Parliament was informed on Monday. These gold holdings contribute to strengthening confidence in the Indian rupee and the overall external stability of the economy, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha in a reply to a question. To questio ...Read More >
Bharat Petroleum Corporation Limited has signed three significant MoUs. Collaborations with Oil India Limited and Numaligarh Refinery Limited will focus on a new refinery and a major product pipeline. Another agreement with Fertilisers and Chemicals Travancore Limited aims to advance green energy projects. These partnerships signal a forward-looking approach to India's energy sector development. India's state-run Bharat Petroleum Corp on Tuesday signed three agreements at an industry event, inc ...Read More >
New Delhi: India's energy security could face serious disruption as US President Donald Trump's administration moves to widen secondary sanctions targeting major Russian oil companies, former Foreign Secretary Shyam Saran has warned. He said Washington's latest pressure directly affects India's biggest importers, including Reliance Industries, which remain tied to the US financial system. In an interview with The Wire, he said Trump's geopolitical priorities have shifted away from the earlier I ...Read More >
Hyderabad (Telangana) [India], October 28 (ANI): India's petroleum and energy sector is undergoing a transformative expansion, poised to play a defining role in shaping the global energy future, said Hardeep Singh Puri, Minister of Petroleum and Natural Gas, on Tuesday. Addressing the inaugural session of the Energy Technology Meet in Hyderabad today, he stated that India's energy journey reflects remarkable progress, driven by visionary policy frameworks, rapid innovation, and sustained invest ...Read More >
Hyderabad: Asserting that trade is not governed by any established set of rules, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said there is adequate crude oil supply in the international market and if one supply stream is disrupted there are alternative sources available. Speaking at an interactive session here, Puri said India ranks fourth globally in refining capacity, exporting refined products worth over USD 45 billion during last fiscal to 50-plus countries, a ...Read More >
Bhubaneswar: Vedanta Aluminium, India's largest producer of aluminium, extended its support to the 'SURAVI' Children's Festival in Sundargarh district. Organized by the School and Mass Education Department, Government of Odisha, the event is designed as a nurturing platform to spot creativity and talent among young minds from local communities. More than 1500 students from 42 schools, representing six Gram Panchayats within the Hemgir and Lakhanpur blocks participated in the festival. The event ...Read More >
The Indian Rupee weakened against the US Dollar today. Month-end import demand and higher global crude oil prices are impacting the currency. Investors are awaiting the Federal Reserve's policy decision for further direction. Meanwhile, Indian equity markets showed gains in early trade. Crude oil imports from the United States have seen a significant increase. The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from im ...Read More >
RIYADH: Indian companies and business groups are stepping up efforts to tap into Saudi Arabia's growing petrochemical sector, with a focus on refining complexes, technology partnerships, and joint ventures, according to an official at the Indian Embassy in Riyadh. The move underscores the expanding economic cooperation between the two nations, with chemicals and petrochemicals forming a key pillar of bilateral trade. The partnership was further reinforced during a recent high-level meeting aime ...Read More >
NEW DELHI: India's largest oil refiner and fuel retailer, IndianOil, on Monday said it will comply with international sanctions, without referring to the latest US curbs on Rosneft and Lukoil -- two of the largest Russian crude exporters."We will abide by all sanctions imposed by the international community," company chairman Arvinder Singh Sahney said but declined to specify whether IndianOil will stop buying discounted Russian crude.IndianOil is the second Indian refining entity after private ...Read More >
Pune (Maharashtra) [India], October 27 (ANI): The Indian Supercross Racing League (ISRL) Season 2 roared to an electrifying start as Round 1 concluded at the Shree Shiv Chhatrapati Sports Complex in Balewadi, Pune, with home team BB Racing emerging as the overall winner of the night. The opening race weekend of the world's first franchise-based Supercross league delivered non-stop thrills and intense racing action, as a packed stadium with thousands of spectators witnessed global and Indian rid ...Read More >
India faces a dilemma: Should it continue buying Russian oil one way or another, or cease its imports altogether? For sure, the US has no right to dictate how two sovereign nations conduct their bilateral trade. While Russian companies have been sanctioned by the US, Moscow has no intention of stopping its oil exports. It is for the importing countries, such as India and China, to decide whether they are willing to risk potential secondary sanctions from the US for doing business with the sancti ...Read More >
Indian Oil Corporation (IOC), India's biggest oil company, said on Monday that it will comply with all applicable sanctions regarding purchases from Russia. "We will abide by all sanctions imposed by the international community," said IOC Chairman Arvinder Singh Sahney. He, however, refused to comment on the IOC's purchases of Russian oil. Data shows that Russian oil made up 21% of the crude oil IOC imported during April-September. Indian refiners are likely to cut down or pause the import of ...Read More >
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends. Nigerian industrialist Aliko Dangote's net worth has hit $30 billion, according to the latest Bloomberg Billionaires Index. The index revealed that Dangote's fortune now stands at $29.8 billion, up $5.71 million from the previous day and $1.73 billion year-to-date. The increase comes amid strong performances from his liste ...Read More >
In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The U.S. and India are close to a possible trade deal that would reduce tariffs on Indian exports to about 15% to 16% from the current 50%, according to the Mint. In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The bilateral trade agreement could be announced when President D ...Read More >
Indian rupee (left) and US dollar currency notes are held by a foreign exchange employee. File/AFP India will not accept limits on its trading choices or rush to sign agreements, Trade Minister Piyush Goyal said on Friday, even as a senior government official said a bilateral trade deal with Washington was "very near." "India will not sign any trade deal in a hurry," Goyal said during a speech at the Berlin Global Dialogue, referring to European Union and the US concerns over India's continued ...Read More >
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