Page 2 - Indian Oil Refiners

Indian oil refiners scramble for crude amid US, EU crackdown on Russia

A major buyer of Russian oil, India is now finding itself blindsided by a more aggressive approach to the Kremlin from both Washington and Brussels

US sanctions 6 Indian firms for trading in Iranian petrochemical goods

The sanctions freeze US-based assets of the six Indian companies and prohibit US entities from any dealings, affecting global petrochemical trade links

Indian private refiners dominate buying of Russian flagship oil grade

Reliance Industries Ltd. and Nayara Energy Ltd. alone took 45 per cent of Russia's shipments of the medium-sour variety

India's state oil refiners may order tankers worth $600 mn for domestic use

Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to jointly issue a tender later this year for the medium-range tankers

Indian Oil to complete Panipat, Gujarat refinery expansions by December

Targets $4 billion of capex in FY26, up from $3.71 billion last year

Indian refiners eye Iranian crude oil as US-Iran nuclear talks progress

Plans to resume crude oil imports had been shattered in the wake of multiple airstrikes between Israel and Iran in April last year

Refiners cancel palm oil orders for 100k metric tonnes due to price surge

The Indian cancellations could limit the rally in Malaysian palm oil prices, although they could also support soyoil prices as some refiners shift to soyoil

BPCL's new Andhra refinery to cost Rs 950 bn, India's most expensive ever

State-owned Bharat Petroleum Corporation Ltd's (BPCL) proposed 9 million tonnes a year oil refinery-cum-petrochemical complex in Andhra Pradesh is likely to cost around Rs 95,000 crore, its Director (Finance) Vetsa Ramakrishna Gupta said. This will be India's costliest refinery project so far. Hindustan Petroleum Corporation Ltd (HPCL) will this year commission a similar size unit at Barmer in Rajasthan at a cost of Rs 71,814 crore. In Modi government's first term, a mega 60 million tonnes oil refinery and petrochemical complex was proposed at Ratnagiri district of Maharashtra at a cost of Rs 3 lakh crore but the project hasn't seen the light of the day because of land acquisition issues. In an investor call with analysts post announcement of third quarter earnings, Gupta said the BPCL board last month approved an expenditure of Rs 6,100 crore on pre-project activities such as land acquisition and commissioning of detailed project report (DPR) and certain feedstock studies. "Roughly

Refiners ask Abu Dhabi NOC to offer 'oil delivered price' as freight spikes

Russian oil accounted for more than a third of India's imports last year, but US sanctions are tightening supply, pushing the buyer back to traditional Middle East sources

Tougher US sanctions to curb Russian oil supply to China and India

Russian oil exports will be hurt severely by the new sanctions, which will force Chinese independent refiners to cut refining output going forward, two Chinese trade sources said

Saudi revives India investment plans amid shrinking market share

Move aimed at ensuring a major captive market for its crude oil, even as Indian refiners mull reducing the share of expensive Saudi grades sourced under term contracts

Of ships and tankers: India, refiners not breaking international sanctions

A US official involved in compliance said 'General Licence 93' allowed India to receive vessels owned by a sanctioned entity, Russian state behemoth Sovcomflot, which ships the bulk of India's oil

Low crude prices: Refiners place spot orders from West Asia in September

Brent crude prices fell to a 33-month low last week amid oversupply concerns

Crude oil prices drop by 21% since March, but fuel costs continue to sting

With inflation easing and elections around the corner, speculation is growing that petrol could become cheaper by Rs 10 per litre and diesel by Rs 6-8 per litre

Govt asks state-run oil refiners, RIL to jointly negotiate Russia oil deal

Reliance is unlikely to share sensitive information with the state oil refiners given they're competitors in the domestic fuel market

Indian refiners may need a rethink amid shrinking Russian crude discounts

Even after reduction, discounts on Russian crude oil may be contributing $1.5 to $2.5 a barrel to refiners' gross refining margins

Zetwerk bags order from Indian Oil to set up over 1,400 EV fast chargers

Manufacturing unicorn Zetwerk on Thursday said it has bagged the largest order from India Oil Corporation to set up over 1,400 fast chargers for electric vehicles across the country. Indian Oil has floated a tender for 6,000 chargers, in which 40 EV suppliers across the country participated. "Zetwerk has secured an order with Indian Oil Corporation Limited (IOCL) to set up EV fast chargers across India through competitive bidding which was participated by more than 40 leading EV suppliers across the country," the company said in a statement. Zetwerk said that it has bagged the largest order from the public sector oil marketing company. "These charging stations will be deployed as per requirement across IOC outlets, providing a seamless charging experience. By conveniently locating these stations in major cities, we will enable the widespread adoption of EV mobility and drive the nation towards a sustainable future," Zetwerk Business Head - Renewables Abhay Adya said. Under the ...

RBI urges state refiners to make payments for some oil imports in Rupees

India is the world's third-largest crude importer and is forecast to be the leading driver of global consumption growth this decade

In the Lok Sabha poll year, oil companies get marketing Budget boost

Overall capex in the oil sector up by 18.6 per cent to Rs 1.33 trillion

US sanctions on Russian oil shipments a worry for Indian refiners

Enhanced enforcement of sanctions by Western powers may increase procurement costs and reduce the appeal of discounted Russian crude