Reliance Industries Ltd has returned to growth after a tough six months, posting better-than-expected earnings for the December quarter. The recovery was driven by strength in its oil-to-chemical business and
India faces another economic challenge as new US sanctions on Russian oil producers and tankers will impact imports, potentially ending price discounts. With India relying heavily on Russian oil, higher
Continue readingIndia's embattled economy braces for another shock
Private sector refiners Reliance and Nayara Energy significantly increased their diesel and petrol retail sales in April-December 2024, gaining market share from state-run refiners. RIL-BP and Nayara used aggressive promotions
Continue readingReliance and Nayara gain diesel market share as state-run oil companies stagnate
In 2024, OPEC’s share in India’s crude oil imports increased for the first time in nine years to 51.5%, as Russia’s share fell due to new sanctions. India imported 4.84
Continue readingOPEC's share in India's annual oil imports rises after 8-yr drop
GAIL (India) Ltd has agreed to a $285 million settlement with SEFE Marketing & Trading Singapore Pte Ltd over a $1.817 billion compensation claim for undelivered LNG. GAIL initiated legal
Continue readingGAIL settles $1.8-bn claim against former Gazprom unit for $285 mn
BPCL has secured financial closure for its Bina refinery expansion cum petrochemical project with a Rs 31,802 crore loan from a consortium led by SBI. The Rs 48,926 crore project
Continue readingBPCL ties Rs 31,802 cr funds for Bina refinery expansion, petchem project
India’s top refiner, Indian Oil Corp (IOC), has purchased 7 million barrels of Middle Eastern and African crude oil via tenders, including a rare buy of Abu Dhabi’s Murban, as
Continue readingIOC buys 7 million barrels of Middle East, African oil
Rupee’s depreciation against the US dollar is increasing the cost of natural gas for Indian buyers. There are rising calls to price domestic gas in rupees to mitigate this impact.
Continue readingBuyers of natural gas call for pricing domestic gas in rupee
Bharat Petroleum has signed a Rs 31,802 crore loan agreement with the State Bank of India Consortium to finance a petrochemical complex and refinery expansion in Bina, Madhya Pradesh. The
Indian Oil Corp (IOC) is seeking high-sulphur oil from the spot market due to expected impacts from new U.S. sanctions on Russian supplies. Indian and Chinese refiners are looking for
Continue readingIndian Oil seeks sour oil from spot market, trade sources say