India’s record exports of $ 422 billion in FY22 came on the back of stellar performance of key segments, such as petroleum products, chemicals, agriculture, base metals, electronics and gems & jewellery and textiles and garments, suggesting a broad-based resurgence after a Covid-induced slide in the previous fiscal. While a spike in global crude oil […]
India is planning to boost shipments to Russia by an additional $2 billion as the two nations work out a payment system in local currencies to continue bilateral trade amid sweeping international sanctions on Russia for invading Ukraine. The Prime Minister Narendra Modi’s administration is in talks with Moscow to liberalise market access for several […]
O2 Power Pvt. Ltd (O2 Power), a renewable energy producer in India, and Powin LLC (Powin), a US based global leader in the design, manufacturing and integration of safe and scalable battery energy storage solutions, have signed a memorandum of understanding to provide customized and competitive battery storage solutions for the Indian renewable energy market. […]
India’s oil imports from the United States will rise by 11% this year, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily-sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens to fan Indian inflation, stretch public finances and hurt growth just when […]
Close on the heels of Indian Oil Corporation (IOC) buying Russian crude, Hindustan Petroleum Corporation Ltd (HPCL) has also bought two million barrels of Russian crude oil as Indian refiners stepped up efforts to secure Russian oil available at deep discounts. Just like IOC, HPCL also bought Russian Urals crude through European trader Vitol. Separately, Mangalore Refinery and […]
The Russian invasion of Ukraine has the potential to establish a new commodity world order that tilts reliable supply toward North America, Bloomberg Intelligence said in a research note. Analyst Mike McGlone argues that should oil and gas prices continue to spike amid the increased geopolitical tension, it could very well be the catalyst for […]
India, the world’s third largest energy importing and consuming nation said it is closely monitoring the global energy markets to track any supply disruptions following the Russia-Ukraine conflict, and will support release of oil from strategic storages to cool prices. International oil prices climbed to an over seven-year high of over $ 105 a barrel […]
Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, will invest Rs 40,000 crore over next 4-5 years, including in overseas supply sources, its CEO A K Singh said. Petronet plans to make foray into the petrochemical business by investing Rs 12,500 crore in a Propane Dehydrogenation Plant that will […]
GAIL (India) Ltd has advanced the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia’s third-largest economy, GAIL’s chairman Manoj Jain said. India’s No.1 gas transporting and marketing firm has long-term liquefied natural gas […]
Several commodity markets are starting to price in some geopolitical risk around the growing tension between Russia and Ukraine. There is still plenty of uncertainty over how the situation will evolve, but it is still worthwhile to look at what the potential impact could be should tension boil over into a conflict. A scenario where […]
