BUSINESS
Reliance’s Exploration & Production business cornerstone of India’s energy security: Anant Ambani
Production from the company’s Krishna Godavari basin block or KG-D6 block rose 4 percent in fiscal 2024-25 to 28 million metric standard cubic metre per day (MMSCMD) of gas and 21,000 barrels of oil per day (BOPD).
BUSINESS
Importing crude oil from Canada remains unfeasible for India as of now: Govt source
Canada primarily exports crude oil to the United States. The country does not have required infrastructure to transport crude oil pumped in remote areas to port cities, from where oil could be shipped to other markets including India.
BUSINESS
Maintenance by refineries and monsoon lowered India’s July oil purchase, reduced import bill
The lower crude oil import for July was primarily due to scheduled refinery maintenance shutdown and comparatively lower demand due to the monsoon season.
BUSINESS
Come December, India will be ready to power jets with recycled cooking oil
By December 2025, Indian Oil said it would achieve a full capacity of 35,000 tonne per annum of SAF production from used cooking oil as feedstock, which the company would source through large hotel and restaurant chains such as ITC and Haldiram’s.
BUSINESS
India’s oil imports from Russia stay robust in Aug despite narrowing discounts
In the month so far, Russian oil purchase by India has remained strong at 1.8 million barrels per day (bpd), higher than total June purchases by refiners, shows data from Kpler, a global real-time data and analytics provider. June oil imports from Russia were at 1.6 million bpd.
BUSINESS
Saudi may finalise investment in Indian refineries upon feasibility report completion in 7-8 months: Govt source
Bharat Petroleum Corporation Limited (BPCL) and Oil and Natural Gas Corporation Limited (ONGC) are currently working on DFRs of their respective upcoming refineries in India.
BUSINESS
India continues to buy Russian oil despite Trump’s additional 25% penalty: Sources
Given India’s high reliance on Russian oil, reducing imports from the Moscow would be difficult for oil refiners and cannot happen instantly. Russia is currently India’s top crude oil supplier with New Delhi importing around 35 percent of its total oil requirements from Moscow.
BUSINESS
Indian state refiners may continue dirhams-only Russian oil deals amid fresh EU curbs, Trump's threats, sources say
EU’s stricter sanctions this year have only solidified the practice of purchasing crude oil from Russia through dirhams by rerouting it through Emirati traders, officials added.
BUSINESS
What drove US sanctions on 6 Indian companies
Of the six Indian companies sanctioned by the US for buying oil from Iran, Alchemical Solutions Private Limited made the heftiest payment of $ 84 million while the other five Indian companies made payments ranging between $1.3 million to $51 million to Iranian companies for purchase of petroleum products, an official statement of the US Department of State said.
BUSINESS
Indian refiners’ margins may shrink but supply likely to remain intact in absence of Russian barrels: Experts
Experts believe that Indian refiners have the capability to navigate the imposition of secondary sanctions on Russian oil on the back of the country’s diversification strategy and a well-supplied oil market.
BUSINESS
Taken to court, Microsoft restores services to Rosneft-backed Nayara Energy
Microsoft had on July 22 suspended tech support for the refiner after the European Union sanctioned Nayara Energy, which challenged the move in the Delhi High Court
BUSINESS
Here’s why oil cartel OPEC+ is planning more production hikes despite subdued crude prices
The oil cartel - which produces 40 percent of the world’s total oil output - agreed to further increase output in August. Even as crude prices hover $65-70 per barrel, OPEC+ has decided to boost output to expand market share amid weak demand and rising supplies.
BUSINESS
Crude prices likely to remain bearish on limited oil supply impact despite fresh EU sanctions: Experts
Energy experts believe crude oil prices would not rise beyond $70- $72 per barrel despite the latest European Union sanctions on Russian oil over expectations of undisrupted supply from the country
BUSINESS
Farm ministry flags higher diversion of maize for ethanol amid concerns over import dependency
These concerns that were conveyed to the petroleum ministry stem from India becoming import dependent for a grain that it typically exports.
BUSINESS
Reliance looks to replicate Jio playbook in clean energy push
The conglomerate's solar cell manufacturing factory expected to be operational next quarter.
BUSINESS
Not worried about sanction threat on Russian oil, ample supply available, says Hardeep Puri
Minister of Petroleum and Natural Gas Hardeep Singh Puri said India has diversified its oil sources to shield itself from geopolitical uncertainties such as the secondary sanctions’ threat by US President Donald Trump on Russian oil.
BUSINESS
Why Oil Minister Puri believes Andaman oil finds could be India’s 'Guyana-sized' discovery?
Oil minister Hardeep Singh Puri, on several occasions, has firmly expressed confidence in India making a “Guyana-like” discovery in Andaman waters, and therefore altering the country’s oil and
BUSINESS
Higher crop output expected in 2025 but uneven distribution of rains could be a spoiler: Govt source
Early monsoons do not necessarily always translate into higher production, though such results are probable and expected by the government, an official told Moneycontrol. There needs to be caution in such conditions as some areas might be prone to flooding or drought, resulting in crop destruction.
BUSINESS
Indian refiners eyeing Canadian oil to diversify basket: Dastur Energy CEO
It means a higher freight cost compared to traditional sources like Kuwait or Saudi Arabia, but Atanu Mukherjee says this can be easily offset by the discounts offered. Moreover, the country's energy security has to be ring-fenced in the face of geopolitical tensions.
BUSINESS
AI to transform and not eliminate jobs in India: Digitide Solutions CEO
Digitide Solutions remains upbeat on the application of AI, viewing the technology as a key pillar in both the company's operational efficiency and top-line growth. AI allows Digitide to optimise its costs while also opening new revenue doors, said Gurmeet Chahal, CEO and executive director.
BUSINESS
Farmers’ interest to be at forefront in finalising trade deal with US, agriculture minister Chouhan
The minister’s remarks come at a time when India is negotiating a trade deal with the US, where agriculture, dairy and genetically modified (GM) crops have emerged as contentious issues.
BUSINESS
India has room to allow GM corn, soya from US strictly for ethanol and soybean oil production: Experts
India, until now, has remained firm on restricting entry of GM crops into the country’s food chain. However, with US President Donald Trump’s push for greater market access for farm products, India could look into allowing GM soya and corn for industrial purposes only—a potential loophole in the country’s policy of a strong ban on GM crops in the food chain.
BUSINESS
An India-US trade deal before July 9 hinges on Modi, Trump bonhomie as differences persist
India's chief negotiator Rajesh Agarwal returned from Washington last night as official-level in-person talks concluded around July 2 or 3. While India is still hopeful of a deal soon, a political middle-ground on dairy and agriculture is key.
BUSINESS
Crude may fall below $60 by December; India demand to stay robust: S&P Global
Crude is expected to slide in the $55-$60 range on muted demand, Premasish Das, Executive Director of S&P Global Commodity Insights, has said
