Chief economist says India should bring fuel back with lower ethanol blend
A top government advisor has said that India should bring back fuel with a lower blend of ethanol. This is the first time a senior official has called for more fuel options in response to growing consumer anger over a controversial policy change. E20, petrol blended with 20% ethanol, was launched last year. Since April 1, this fuel is the only one available at gas stations in the country. This is part of the Prime Minister NarendraModi's plan to reduce oil imports while also reducing pollution.
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Donald Trump has increased the pressure on India to reduce its Russian oil purchases. It could cost Moscow vital revenues, but will mainly push more Russian crude oil onto an ever-growing shadow market. The U.S. President said that Indian Prime Minister Narendra modi had pledged on Wednesday to stop purchasing oil from Russia. India has not yet confirmed this agreement. Since the 2022 invasion of Ukraine by Moscow, India has been a major buyer of Russian crude oil.
India's auto lobby revises numbers after retraction of warning about ethanol fuel damage
India's auto industry said that it would rework the numbers it provided to the government, as it withdrawn its first warning about damage to vehicle parts caused by contaminated fuel containing ethanol. This stoked consumer anger over this controversial policy. The move on Tuesday came after the media reported the warning of the group, causing public outrage and forcing the Petroleum Ministry to issue a clarifying statement. The Society of Indian…
Sources say that India could charge gas consumers to fund its planned $42 billion fuel reserve.
Two sources who have direct knowledge of this matter say that India could impose a charge on consumers of cooking gas and natural gas to fund a $42 billion strategic reserve. This is after the disruptions caused by the Iran War exposed the supply chain's vulnerabilities. Two sources claimed that the plan would expand India's strategic reserve beyond crude oil. Stockpiles are designed to cover around two months of demand for crude and liquefied gas and about six weeks for liquefied petrol gas or cooking gas.
India's solar drive idles factories that are unable to break reliance on China
Industry sources claim that Indian solar panel makers are forced to close factories because they have to wait up to 8 months for domestic components to replace Chinese imports. This is due to the government's push to boost domestic manufacturing. Manufacturers and analysts have said that the disruptions caused by rules which came into effect on June 1?threaten thousands jobs and investments of almost $4 billion. They also put India's 2030 solar energy target at risk.
India's ethanol push leads to a big increase in land used for fuel production
In just four years, the land used for ethanol production has increased eight-fold. India imports 85% of its crude oil. Using more ethanol made from sugarcane, maize and rice is one way to increase its energy security. The state-run oil companies mix 20% ethanol into each litre of petrol before it reaches the pump. Data presented this month by Delhi-based Arcus Policy Research showed that the area of land used for ethanol feedstocks has increased from 0.7m hectares to 5.7m hectares between 2024-25.
India and the US discuss Middle East trade, as Rubio cites progress in Iran conflict
The U.S. Secretary Of State Marco Rubio met with Indian Foreign Minister Subrahmanyam Jishankar in New Delhi on Saturday. Both sides discussed the Middle East, the trade, the visas, maritime safety, and energy supplies. Washington also cited the progress made?in efforts to resolve the conflict between Iran and the United States. Rubio stated that progress was made in the past 48 hours regarding an outline which could resolve the current situation surrounding the Strait of Hormuz.
Palm's biofuel allocation uncertainty in Indonesia has dropped to a 2-month low
Malaysian palm futures dropped to their lowest level in over two months on Thursday as the market was pressured by continued uncertainty regarding Indonesia's mandate for biodiesel and lower export taxes. The benchmark palm oil contract for July delivery at the Bursa Derivatives exchange in Malaysia fell 42 ringgit (0.95%) to 4,396 Ringgit ($1,118.58), the lowest closing price on record since March 6. Anilkumar bagani, commodity head at Sunvin Group in Mumbai…
Modi is likely to ask UAE for more energy during his short visit, according to sources
Three sources say that Indian Prime Minister Narendra Modi is expected to visit the United Arab Emirates on Friday for a brief trip. He will likely?discuss energy supply agreements and seek support to increase his country's strategic reserves of oil,? they said. Modi will make his first stop in the UAE on a 'five-nation' tour between May 15 and 20. The UAE is the third largest energy importer of the world, which wants to restore supplies severely disrupted by Israel-U.S. war against Iran.
Palm slides due to uncertainty over biofuel allocation in Indonesia, export tax
Malaysian palm oil futures declined for a third consecutive session on Thursday. This was due to the continued uncertainty regarding Indonesia's allocation of biodiesel and expectations that export taxes would be lowered. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for July delivery had fallen 29 ringgit (0.65%) to $4,409 ringgit (1,123.03 USD) per metric ton. Anilkumar bagani, commodity researcher at Sunvin Group in Mumbai…
Oil minister: India needs to know how long fuel retailers will be able to sustain losses.
Hardeep Singh Puri, the oil minister, said that India would at some point need to assess how long it can continue selling fuels below market prices. The Middle East conflict has disrupted the supply of petrol and diesel, but governments have kept pump prices low to protect consumers from inflation. Sujata Sharma, joint secretary at the Oil Ministry, said earlier that India has no plans to compensate oil companies for their?losses. Sharma, who spoke last month…
Sources: India refuses Russian LNG due to sanctions; talks continue about permitted cargoes
Two sources who are directly involved in the matter confirmed that India had declined Russia's offer of liquefied gas, subject to U.S. sanction, despite a shortage caused by Middle?East tensions. This has left a tanker bound to India in limbo while talks continue about permitted cargoes. This stance highlights how the third largest oil importer in the world is trying to find a balance between securing its energy supplies while avoiding LNG cargoes that have been sanctioned by the U.S.…
Oil price rises bolster India's ethanol push despite drawbacks
India's plan to reduce emissions and cut costs from transport is based on ethanol, which can be made from sugarcane, maize and rice. State-run oil companies are required to mix 20% ethanol into each litre before it is sold at the pump. India achieved its 20% ethanol target, also known as E20 last year five years before schedule. This was despite complaints from drivers about reduced fuel efficiency and increased wear on engines. In March, Prime…
First time, Russian LNG is heading to India under US sanctions
LSEG shipping data on Wednesday showed that a cargo of liquefied gas from Russia’s?Portovaya?plant on the Baltic Sea, which is subject to U.S. sanction,?is 'on its way' to India. It would be the very first delivery of this kind to India after U.S. president Donald Trump said last year that Prime Minister NarendraModi had promised him India would no longer buy Russian energy. India has not publicly confirmed such a?pledge, and said that its purchasing decisions are based on price, supply security, and consumer interest.
India reduces special excise duty on petrol and diesel
India has slashed the special excise duty on 'petrol and diesel' as fuel prices remain volatile, with supplies being?stifled by the Iran war. The Indian Finance Ministry reduced the special excise tax on petrol from 13 rupees per litre to 3 rupees (US $0.0318) in a government order issued Thursday. The duty on diesel was also reduced to zero rupees from 10 rupees. The U.S. and Israeli war against Iran?has resulted in a near-closure of Strait of Hormuz. This is a conduit for 40% of crude imports. It has hurt shipping and gas supplies.
Modi and Trump discuss the importance of keeping Strait of Hormuz Open
?Indian PM Narendra Modi, and?U.S. In separate posts on X, U.S. Ambassador to India Sergio Gor, and Modi, said that President Donald Trump called him on Tuesday, discussing the'situation in the Middle East', including the importance of maintaining the Strait of Hormuz. It was the first time the two leaders had spoken since the U.S., Israel and Iran launched coordinated attacks against Iran on February 28. India supports the de-escalation of tensions and restoration to peace as soon as possible.
Modi's rooftop Solar push is slowed down by unwilling lenders, states
Vendors and analysts claim that despite the heavy subsidies, I ndian Prime Minister Narendra Modi is not able to achieve his targets due to loan delays and limited state support. These shortfalls are the latest "challenge" to India's efforts at nearly doubling clean energy capacity by 2030 to 500 gigawatts. The government is planning to suspend the clean energy tendering target amid an increasing backlog of projects that have been awarded but not yet built.
India, UAE Sign $3b LNG Deal, Boost Trade and Defense Ties
India signed a $3 billion deal on Monday to buy liquefied natural gas from the United Arab Emirates, making it the UAE's top customer, as the leaders of both countries held talks to strengthen trade and defence ties.The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan for talks with Indian Prime Minister Narendra Modi. They pledged to double bilateral trade to $200 billion…
India's largest tax disputes involve foreign companies
In India, foreign companies have complained of tax uncertainty and long-running litigation over alleged duty evasion or levies payable in large M&A transactions. These are the most high-profile tax cases that have been reported in India. India's highest court will convene on January 15, 2019. Tiger Global is "subject to tax" on its $1.6 Billion sale of a stake (or 5%) in Indian ecommerce firm Flipkart in 2018 to Walmart. This will be a landmark decision on how India taxes cross border deals and the use of tax treaties by companies.
Uniper signss long-term agreement with India's AM Green for green ammonia
Uniper, a German state-owned utility, announced on Monday that it had signed a long-term binding agreement with India's AM Green for the purchase of up to 500,000 tonnes of green ammonia each year. The agreement, which was signed during German Chancellor?Merz?s first visit to India reflects efforts?to foster closer economic cooperation between world's third and fourth largest economies at a period of increasing geopolitical tensions around the globe.