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Weekly Energy Brief : September 1- September 7

7Sep

By Newscript News NetworkNo Comments

Environmental Accountability, Geopolitics, News Update, Oil & Gas Industry, Renewables

Weekly Energy Brief : September 1- September 7

EXECUTIVE SUMMARY India’s energy system showed resilience amid geopolitical stress. The U.S. 50% tariff shock was offset by Russia’s ~$7/bbl discount, sustaining flows through a ~6 mb/d shadow market while the Indian crude basket hovered near $70.71/bbl; pump prices in Delhi stayed broadly steady. Policy tailwinds accelerated the transition: ALMM List-II became mandatory for solar tenders, and a forthcoming GST reset cuts rates on renewable components to 5% while lifting coal/lignite to 18%, sharpening clean-power economics. Renewables reached 237 GW, with H1-2025 clean generation at ~236 TWh (+20% y/y); domestic module capacity now exceeds 100 GW. Corporates advanced green hydrogen, storage, and ammonia projects, as regulators tightened ESG: SEBI’s value-chain reporting is voluntary in ...

Gulf Suppliers Cut Crude Sales to Russian-Backed Indian Refiner

2Sep

By Newscript News NetworkNo Comments

Oil & Gas Industry

Gulf Suppliers Cut Crude Sales to Russian-Backed Indian Refiner

India’s Nayara Energy has cut refinery operations to 70-80% capacity after Saudi Aramco and Iraq’s state oil company SOMO suspended crude supplies following European Union sanctions targeting the Russian-backed facility. The 400,000 barrel-per-day Vadinar refinery, majority-owned by Rosneft, has lost its traditional 3 million barrels monthly from Gulf suppliers and now relies entirely on Russian crude. The supply halt follows EU sanctions imposed in July as part of the bloc’s 18th sanctions package against Russian energy assets. Saudi Aramco and SOMO suspended deliveries to avoid sanctions exposure, severing established commercial relationships with one of India’s largest private refiners. The final Saudi shipment of Arab Light crude arrived July 18 aboard the VLCC Georgios, while th...

India’s Offshore Gamble: ONGC, Reliance and BP Unite in Saurashtra

25Aug

By Pallab BhattacharyaNo Comments

Oil & Gas Industry

India’s Offshore Gamble: ONGC, Reliance and BP Unite in Saurashtra

India’s growing dependence on imported crude oil has become a defining challenge for its economy. The country now imports nearly 85% of its oil requirements, creating a $220bn annual burden. Against this backdrop, three very different players — ONGC (Oil and Natural Gas Corporation), Reliance Industries Ltd (RIL) and BP Exploration — have joined forces in a new consortium to explore the Saurashtra basin offshore block. The partnership, under the government’s Open Acreage Licensing Policy (OALP-IX), will focus on Block GS-OSHP-2022/2 off the coast of Gujarat. ONGC will serve as the operator with a 40 per cent stake, while Reliance and BP each hold 30 per cent. The project has been billed by the Ministry of Petroleum as a strategic collaboration to enhance India’s energy security. Join...

IOC resumes Russian oil flows, diversifies with US crude

21Aug

By Newscript News NetworkNo Comments

News Update

IOC resumes Russian oil flows, diversifies with US crude

By Newscript News Network August 21, 2025 Indian Oil Corporation (IOC) and Bharat Petroleum (BPCL) have resumed imports of Russian Urals crude for September–October delivery, ending a brief suspension in July when discounts narrowed and US diplomatic pressure mounted. Industry officials said Urals is now trading at about $3 per barrel below Brent, restoring its competitiveness. “India continues to optimise its crude basket while maintaining strategic autonomy,” said a senior oil ministry official. At the same time, IOC has purchased two million barrels of US West Texas Intermediate (WTI) for October delivery at a $2.80–$2.90 premium to dated Brent. The deal is seen as part of a diversification strategy to balance risks after the Trump administration announced a 25% tariff on India...

US–Russia Talks Ease Oil Market Tensions

18Aug

By Pallab BhattacharyaNo Comments

Geopolitics, News Update

US–Russia Talks Ease Oil Market Tensions

A weekend round of diplomatic engagement between Washington and Moscow has soothed one of the biggest risks hanging over global oil markets: fresh sanctions on Russian energy exports. US officials signalled that no immediate measures would be taken to curb Russian crude shipments, while Moscow agreed to resume technical discussions on pricing and transit. The apparent thaw has calmed traders who feared renewed confrontation could choke off supplies and push Brent well past $70. The reprieve comes at a critical juncture. Europe remains heavily reliant on Russian oil even after diversification efforts, and Asian refiners—particularly India and China—have been pivotal in absorbing flows displaced from Western buyers. The US stance buys time for markets to adjust, though observers stress...

Crude Prices Slip as Markets Seek Balance

18Aug

By Newscript News NetworkNo Comments

Geopolitics, News Update

Crude Prices Slip as Markets Seek Balance

By Pallab Bhattacharya Newscript, August 18, 2025 Global oil benchmarks edged lower in Monday’s Asian session, extending last week’s pullback amid calming geopolitical jitters. West Texas Intermediate was quoted at $62.64 a barrel, down 0.26 per cent, while Brent crude hovered at $65.60, down 0.37 per cent. The softening reflects a tentative equilibrium between producers and markets following assurances that Russian crude would not face immediate new sanctions. Traders also point to subdued demand signals from Asia’s industrial economies, with China’s slowing manufacturing output contributing to the bearish tone. For India, the world’s third-largest oil importer, the dip offers a rare reprieve. The country’s import bill crossed $137bn last year, exposing the economy to exchang...

Indian Stock Markets Lifted by Cooling Oil Supply Fears

18Aug

By Newscript News NetworkNo Comments

Geopolitics, News Update

Indian Stock Markets Lifted by Cooling Oil Supply Fears

By Pallab Bhattacharya Newscript, August 18, 2025 Indian equities are poised to open stronger on Monday as easing concerns over Russian crude supplies filter through global energy markets. Diplomatic overtures between Washington and Moscow over the weekend have reassured investors that neither fresh sanctions nor retaliatory tariffs on Russian oil are imminent, a signal that has dampened fears of disruption to India’s lifeline imports. Energy import costs remain India’s Achilles’ heel, with oil accounting for nearly 89 per cent of its consumption. Any volatility in supply often reverberates immediately in equity markets, squeezing the rupee and widening fiscal deficits. The latest developments have tempered anxieties, with futures on both the Nifty 50 and Sensex reflecting gains i...

ONGC’s ₹4,606cr Bet on the Bay: How a Slice of the Krishna–Godavari Basin Could Fuel India’s Energy Push

12Aug

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Corporate Watch

ONGC’s ₹4,606cr Bet on the Bay: How a Slice of the Krishna–Godavari Basin Could Fuel India’s Energy Push

By Pallab Bhattacharya Newscript, August 12, 2025 Fig.1: Arms Of Urja Oil and Natural Gas Corporation’s latest move is not a mega-field gamble but a calculated strike on two modest offshore blocks that could quietly strengthen India’s energy security. The ₹4,606.35 crore investment in Andhra Pradesh’s Chandrika and GS-49 fields, sitting under the shallow waters of the Bay of Bengal, is about squeezing proven reserves with precision rather than chasing headline-grabbing wildcats. Ten wells, two unmanned platforms, a pipeline to shore, and an expanded onshore terminal at Odalarevu form the skeleton of the project. If all goes to plan, first gas could flow by the latter half of the decade. But before any drill bit turns, the project must pass its first—and potentially slowest—tes...