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Indian Refiners Resume Russian Oil Purchases despite US Tariff Pressure

19Apr

By Newscript News NetworkNo Comments

Indian Refiners Resume Russian Oil Purchases despite US Tariff Pressure

India’s state-owned refiners have resumed Russian crude purchases for September delivery, prioritising commercial benefits over mounting diplomatic pressure from Washington. Indian Oil Corporation and Bharat Petroleum Corporation secured Russian Urals crude at $3-per-barrel discounts for September and October shipments. The companies had paused purchases in July when price differentials narrowed but recommenced buying as commercial terms improved. The procurement restart occurs despite US President Donald Trump’s 25% additional tariff on Indian goods, imposed August 27 to penalise India’s continued energy trade with Russia. The levy specifically targets Delhi’s Russian oil imports, which have provided India with $12.6 billion in savings over 39 months. IOC has expanded its Russian...

India’s Energy Crossroads: Adani’s ₹10,500 Crore Investment Marks Coal’s Enduring Role

India’s clean energy ambitions face a pragmatic reckoning as Adani Power commits ₹10,500 crore to an 800 MW ultra-supercritical coal-fired power plant in Madhya Pradesh. The decision spots coal firmly at the heart of India’s energy security through the early 2030s despite lofty renewable targets. Scheduled for commissioning within 54 months, the plant will be built under a Design, Build, Finance, Own and Operate model in Anuppur district, sourcing coal under the government’s SHAKTI policy to ensure fuel availability. The tariff was competitively secured at ₹5.838 per kilowatt-hour. This investment aligns with government plans to add 88 GW of coal capacity by 2032—a 63% increase from earlier projections—placing India alongside China as one of the few countries still expanding thermal ...

Coal India unleashes Rs25 lakh worker bonanza as mining giant tightens grip on talent war

Coal India, the world’s largest coal producer, has announced a comprehensive enhancement of employee benefits as the state-controlled mining giant seeks to retain talent amid India’s expanding energy demands. The company will implement new uniform policies whilst significantly increasing ex-gratia payments for workers from Rs15 lakh to Rs25 lakh, marking a 67 per cent increase in compensation. The benefit enhancement comes as Coal India faces mounting pressure to maintain production levels whilst addressing workforce retention challenges. The state miner, which controls approximately 70 per cent of India’s coal production, has been grappling with skilled labour shortages across its mining operations in eastern India. Industry analysts suggest the move reflects broader competitive pre...