Engineers India Limited (EIL) has traveled one of the most remarkable growth journeys in India’s engineering and project management sector. Founded in 1965 with the vision of supporting India’s oil and gas infrastructure, EIL has transformed over six decades into a global engineering powerhouse delivering world-class solutions across energy, infrastructure, environment, and advanced technologies. From its early […]
Some Indian banks have started to consider financing Russian oil trades that involve only non-sanctioned entities and sanctions-compliant pricing and payments.
India has significant reliance on imports to meet its energy requirements, with nearly 89% of the crude oil used being imported. This dependence extends to other key fuels as well, with about 50% of natural gas and approximately 59% of Liquified Petroleum Gas (LPG) needs met through imports. Moreover, India is also a major exporter of petroleum products, shipping around 65 million metric tonnes (MMT) annually. This is largely due to its strong domestic refining capacity, which is the fourth largest globally.
Two Indian refiners bought a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market as they seek alternatives to Russian crude.
The Indian Government has welcomed the elevation of bilateral ties with Ghana to the level of a comprehensive partnership, promising to assist the country for a successful energy transition. Mr Manish Gupta, the Indian High Commissioner, said the authorities would work jointly under the new partnership framework, sharing development experiences and technology transfer to achieve […]
Indian refiners have suspended new orders for Russian crude, Reuters has reported, citing unnamed sources as saying the industry awaited clarity from the government about navigating the new U.S. sanction context.
Reliance, which typically buys crude from the Middle East, has been more active than usual in procuring oil from the Gulf region in recent weeks.
President Donald Trump has reiterated his threat to make India pay “massive” tariffs unless it stops buying Russian oil, repeating that India’s Prime Minister had assured him those purchases would stop.
State-owned refiners in India have informed their traditional large LPG suppliers from the Gulf – Saudi Arabia, Kuwait, the United Arab Emirates (UAE), and Qatar – that they should expect potentially lower nominations for their product from India, according to Reuters’ sources.
Russia is one of the top-three oil exporters in the world, meaning any pressure on its exports should be applied with care to avoid a price shock. Indeed, President Trump’s statement about PM Modi pushed oil benchmarks higher earlier today because of the supply tightening effect such a move by India would have.