ASIA JET FUEL IMPORTS
For next 2-3 years, L&T sees good momentum in gas to power opportunities in West Asia: Subramanian Sarma
L&T Board Member Subramanian Sarma highlights key themes: traditional fossil fuel development, green initiatives, and petrochemical monetization. The focus remains on oil, gas, and renewable energy, with opportunities worth $10-12 billion. Execution is progressing well with no major geopolitical risks impacting operations. Competition persists but L&T maintains a strong market presence and anticipates continued momentum.
Europe is already facing its next energy crisis
Experts warn of a challenging winter ahead, particularly if temperatures plummet. The situation has raised concerns about energy rationing and economic stability.
Asia's jet fuel imports from India to hit multi-year highs in November
India's jet fuel exports to Asia are surging, driven by refinery issues in the region and attractive pricing. This surge is expected to reach multi-year highs in November, exceeding 2.7 million barrels. The increase in supply, coupled with refineries coming back online after maintenance, could impact spot prices.
Thin rotis best for India, not parathas & kulchas: Asia's richest banker Uday Kotak reveals why
Uday Kotak, Asia's richest banker, urged India to prioritize efficiency and timely execution for economic growth. He emphasized the need to improve the "Return on Time Invested" (ROTI) and move away from a culture of delays. Kotak highlighted military strength, financial competitiveness, and creativity as crucial areas for India's development over the next two decades.
Bangladesh may need Indian help to manage economy
Bangladesh's reliance on India extends beyond electricity to encompass various infrastructure projects financed by Indian credit lines worth $8 billion. This dependence is evident in sectors like transportation, irrigation, and energy, with Bangladesh importing 1,160 MW of power from India. Experts suggest this reliance, while fostering growth, also exposes Bangladesh to economic vulnerabilities.
India, Saudi Arabia top buyers of Russian VGO and fuel oil in October, LSEG data shows
Russian fuel oil and vacuum gasoil (VGO) exports dipped 3% in October, with India and Saudi Arabia emerging as top recipients. While Saudi imports dipped, India's intake surged as it sought cheaper alternatives to Urals crude. China, another major importer, saw a decline amidst potential tax reforms impacting fuel oil demand.
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Not only China, several Asian countries could face heat from Trump tariffs; here are the countries and how they could be hit
As Donald Trump gears up for a second term, his trade policies are set to make waves beyond China. While the focus of his first term was on slapping tariffs on Chinese goods, experts are warning that Trump¡¯s renewed emphasis on reducing U.S. trade deficits could mean that several other Asian economies might also face significant tariff hikes.
Vistara's last flight: Why Indian aviation remains a two-plane race?
India's aviation sector, despite booming growth and government investment, is grappling with a duopoly. Two major airlines control over 90% of the market, potentially limiting passenger choices and impacting airfares. While challengers like SpiceJet and Akasa Air emerge, their success remains uncertain, leaving the future of competition in the Indian skies hanging in the balance.
Trump Presidency set to benefit India, Asian countries due to US-China rivalry: Moody's Ratings
Moody's Ratings predicts that India and other Asian nations could benefit from US-China tensions and investment shifts under a potential Donald Trump presidency. Trump's protectionist trade policies, particularly towards China, are expected to redirect trade and investment flows, potentially benefiting India and ASEAN countries. However, these policies could also disrupt global supply chains and hinder global growth.
ADB lauds India's fossil fuel subsidy reforms
India has significantly cut its oil and gas subsidies by 85 per cent from 2013 to 2023. This was achieved using policy reforms including phasing out petrol and diesel subsidies and increasing taxes. The extra tax revenue from these increases funded renewable energy projects, electric vehicles, and LPG usage among the rural poor, reshaping India's energy landscape.
Satellite photos show Israel hit Iran former nuclear weapons test building, missile facilities, researchers say
Israeli airstrikes on Saturday targeted key facilities in Iran that were linked to its defunct nuclear weapons program and solid fuel missile production. These strikes potentially hampered Iran's missile production capability, as assessed by researchers using commercial satellite imagery.
India's oil demand may revive amid festivals and elections, shows S&P Global Commodity Insights
India's oil demand is expected to rise by 3.5-4% in Q4 2024 due to festive activities, agricultural needs, and election-related transportation. Despite a 2% drop in diesel demand caused by heavy monsoon rains, gasoline demand grew by 3%. Marriage season and automobile sales will further boost fuel consumption.
Oil and gas import bill rises 20% to $69b in H1 of FY25
India's net oil and gas import bill rose by 20% to $69 billion in the first half of the fiscal year due to rising consumption and stagnant domestic production. Crude oil imports increased to $71.3 billion, while LNG imports jumped 18%. This rise in import costs was exacerbated by a decline in refined product exports.
India unleashed major defence orders in September; paving way for military modernisation, space exploration
India made major defence moves in September 2024. The govt approved funds for military and space projects, including Future-Ready Combat Vehicles and new stealth frigates. Defence partnerships and contracts were also finalized, strengthening India's defence capabilities. New budget approvals for space missions and indigenous manufacturing advancements marked significant progress for the nation.
SpiceJet readies ?400 crore fuel for plan to fly all its grounded planes again
SpiceJet, boosted by ?3,000 crore funding, aims to return all grounded planes to service within 18-24 months and grow its fleet to 100 aircraft by 2026. The airline will also wet-lease aircraft to expand capacity quickly, enhancing services and routes, while competing with dominant market players IndiGo and Air India.
India's Sustainable Aviation Fuel potential 8-10 Million tonnes by 2040: Deloitte
India could produce 8-10 million tonnes of Sustainable Aviation Fuel (SAF) by 2040, requiring $70-85 billion in investments, according to a Deloitte India report. SAF aims to propel aviation sector decarbonisation, with the potential to reduce carbon emissions by 20-25 million tonnes annually. These initiatives are expected to create 1.1-1.4 million jobs and lower crude oil import bills by $5-7 billion yearly.
India should aim to become clean energy exporter by 2030: Amitabh Kant
Amitabh Kant emphasizes India's goal to achieve 750 GW of renewable energy capacity and become a clean energy exporter by 2030. He suggests establishing strong financial systems and leveraging international funds to meet renewable energy targets, focusing on green hydrogen and decarbonizing sectors like steel and transport.
India's oil-product exports soar amid refinery shutdowns in Europe
India's clean oil-product exports surged to their highest since March 2022, driven by increased demand from Europe and Africa due to refinery shutdowns. In September, shipments of diesel, gasoline, and jet fuel reached 1.5 million barrels a day, marking a 39% year-on-year increase. European refinery maintenance and poor margins contributed to this spike.
Kutting-edge Kolkata kuts its trams out from the age of EVs - Go figure
The article discusses the persistent issues in urban planning across Indian cities, focusing on Kolkata's decision to phase out its tram services. It highlights the government's failure to prioritize sustainable public transport and criticizes the ongoing preference for private vehicles, which exacerbates pollution and chaos in urban areas.
Why Goldman, Morgan Stanley are betting on SpiceJet despite all its troubles
SpiceJet has raised Rs 3,000 crore through a share sale to institutional investors, including Goldman Sachs and Nomura Singapore. The funds will help the airline address its financial challenges and expand its fleet. Despite recent struggles, investors are optimistic about SpiceJet's potential in India's growing aviation sector.
Nayara Energy sees 14 pc rise in domestic fuel sales, exports drop
Nayara Energy, India's largest private fuel retailer, reported a 14.3% increase in fuel sales for Q2 2024 while exports declined due to rising local demand. The company sold most of its diesel and petrol domestically and expanded its retail network to underserved markets, contributing significantly to India's energy security.
India surpasses China to become Russia's top oil buyer in July
In July, India surpassed China as the largest importer of Russian oil, with imports reaching a record 2.07 million barrels per day (bpd), or 44% of India's total oil imports. This increase was driven by discounted Russian crude following Western sanctions against Russia. In contrast, China imported 1.76 million bpd from Russia due to lower profit margins for Chinese refiners. India's growing demand for Russian oil is reshaping global trade flows, as traditional buyers like China reduce their purchases.
India's July diesel, jet fuel exports to Singapore, Australia set to hit 2-1/2-year high
India's diesel and jet fuel exports to Singapore and Australia hit their highest levels in 2-1/2 years in July, fueled by waning European demand and cheaper shipping costs. Industry sources indicate that Australia's increased imports were also due to planned refinery maintenance and new government mandates for refined product stockpiles.
India's June fuel demand edges up 2.6%
?Total consumption totalled 19.99 million metric tons in June, up from 19.48 million tons last year, data showed.?? Demand was down 3.5% on a monthly basis from the 20.72 million metric tons consumed in May. Sales of diesel, mainly used by trucks and commercially run passenger vehicles, fell 5% month-on-month to 7.98 million tons in June.
India's May fuel use inches up on month on strong industrial activity
India's fuel consumption in May increased due to strong industrial activity and elections, as per data from the PPAC. The country's oil demand and consumption trends are reflected in the data provided by the PPAC.
Very strong relations with India; co-producing armored vehicles: US Defence Secretary Lloyd Austin at Shangri La Dialogue
At the Shangri La Dialogue in Singapore, US Defence Secretary Lloyd Austin praised the strong US-India relationship. He talked about advancements in co-producing armoured vehicles and fighter jet engines. He emphasised the shared values between the two nations and predicted continued progress and momentum in the partnership. The strong ties are important for the two countries amid trouble in the Indo-Pacific region.
India's robust LNG imports are Asia's standout, but higher prices may weigh: Russell
The surge in arrivals comes even as the spot price for delivery to North Asia has been rallying, rising from a near three-year low of $8.30 per million British thermal units (mmBtu) in the week to Feb. 23 to a five-month high of $12.30 last week.
India, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April, LSEG data shows
Crude oil Import: In April, India and Egypt were key destinations for Russian seaborne fuel oil and vacuum gasoil exports, with a total 10% decrease in exports due to maintenance and outages. The EU's embargo redirected Russian exports to Asia. Shipments to India rose while those to China decreased. Egypt saw increased fuel oil supplies for power generation.
Nevermind those EVs ¡ª oil demand keeps growing
Oil demand concerns persist as Brent crude prices have been fluctuating. Gasoline consumption are rising despite push for electric vehicles.
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