S Dinakar

LNG tenders fail, tankers stranded, storage at 30%; naphtha back in the mix

Timing of the new US-Israel bombing of Iran and Tehran's response couldn't be worse for India

Four years after Russia's invasion of Ukraine, Western measures to restrict Russian crude oil flows are beginning to have a real impact as the Trump administration steps up pressure on India

While GL 46A allows financing activities related to transactions, alongside are sanctions on dealings with Venezuelan state oil company PdVSA

India readies first compliance carbon market, with 490 units notified; steel and fertiliser yet to get targets as CBAM pressure mounts

After a rare dip in coal generation in 2025, India's emissions may edge up in 2026 as power demand rebounds and thermal plants anchor the grid

Indian refiners see Venezuelan merey crude discounts shrink to record lows amid high freight costs and tighter supply dynamics

Venezuela's heavy, acidic grades are a poor replacement for higher-quality Russian variants, which are now declining in India's crude oil basket due to US pressure

India has agreed to buy $500 bn worth of US energy products and other goods as part of a trade deal. This won't be easy, for India has been diversifying its sources

Officials of Indian refiners evaluating Russian crude alongside other grades from Brazil, Angola and UAE

Along with price discounts, India must replace around 1.7 million barrels per day of average Russian crude imports

Lower crude prices, strong refining and marketing margins may help state oil companies double dividends to the government in FY26 despite geopolitical risks

Shipping and production data show Russian crude exports since November exceeding available non-sanctioned supply, with Indian and Chinese refiners absorbing most of the excess flows

If US and UN sanctions ease, Iranian crude could return to Indian refineries, offering a cost-effective alternative as Russian oil flows shrink

Recent geopolitical developments have seen record fuel supplies, expanded discounts on oil and robust domestic appetite for fuel

This despite West sanctions on Russian oil and Suez Canal hurdles

This comes amid the International Energy Agency forecasting a supply this year of 4 million barrels per day, equivalent to 70 per cent of India's oil demand

India's private sector may lead the charge for more retail outlets of liquefied natural gas (LNG) in 2026 but it remains a niche business

India is the world's third-largest emitter of methane but lacks clear policy direction and mechanisms to track and mitigate the gas, which is far more potent than carbon dioxide in global warming

India has gained the least since Russia invaded Ukraine in February 2022 and was penalized the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war