PETROLEUM PRODUCTS IMPORT
Nitin Gadkari says new Toyota Innova to be launched on November 26, running cost to be just Rs 25 per liter
Union Minister Nitin Gadkari has announced that Toyota will launch a new bioethanol-powered Innova in India on November 26. The vehicle will run entirely on 100% bioethanol and generate nearly 60% of its power through electricity while driving. Gadkari claims its effective running cost could be equivalent to just Rs 25-30 per litre of petrol, potentially offering significant savings to motorists. The announcement comes as the government promotes alternative fuels to reduce India's dependence on conventional petrol and diesel.
Indian oil refiners expect healthy margins amid global supply disruptions
A combination of these factors offer Indian refiners an opportunity to capitalise on stronger diesel, gasoline and aviation turbine fuel (ATF) cracks. Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation and Hindustan Petroleum Corporation (HPCL) reported record refining performances in the September quarter (Q2) and expect the run to continue.
India weighs new oil manoeuvre as old routes get jammed
The West Asia war has forced India to look at energy security through a new, different lens. The oil issue, for India, has now gone from being a procurement issue to being a test of economic resilience. That has compelled the govt to rethink how it sources, transports and stores the fuel that powers its economy.
Pakistan suffered $40 billion in economic losses due to suspension of trade with India: PIBC chief
Lahore has faced an estimated USD 40 billion in economic losses since trade with India paused in 2019. Business leaders emphasize the need for restoring these commercial ties to stimulate mutual benefits. The suspension has escalated costs for essential goods that are typically imported from India. Industries, particularly textiles and pharmaceuticals, have struggled to cope with rising transportation and sourcing expenses.
Global oil sanctions and chokepoints a means to hold prices hostage: Jaishankar
Addressing the G20 foreign ministers' meeting in Atlanta on Friday (US time), he said the world was facing an energy crisis driven not by a lack of production but by unpredictability, supply disruptions, unaffordable costs and difficulties in access.
Trump's oil portfolio up 43% amid Big Oil windfall, pain at the pump
Major oil companies, including ExxonMobil, Chevron, and Shell, reported higher earnings in the third quarter. This comes as the conflict in Iran leads to increased fuel prices for American consumers. Trump's investments in oil and gas stocks have significantly appreciated during this time. More than 94% of his oil stock purchases occurred after the conflict began. Rising fuel prices serve as a crucial issue ahead of the upcoming midterm elections.
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Bali's petrol queues offer a reality check for India's holidaymakers
Bali is currently facing a fuel supply crisis that is causing significant disruption for travelers. Traffic jams and fuel shortages have led to longer wait times for airport transfers and local commutes. Authorities have implemented measures to improve fuel distribution and manage demand effectively. Despite challenges, tourist arrivals remain steady, contributing to the local economy. Travelers are advised to check fuel availability before visiting popular attractions in Bali.
India's FTAs to open new export opportunities as country eyes $1 trillion milestone: IIFT VC
India's trade deficit is likely to persist as long as the country remains dependent on oil imports, although rising exports of value-added petroleum products are helping narrow the gap, K. Rangarajan, Vice-Chancellor of the Indian Institute of Foreign Trade (IIFT), said on Friday.
Reliance looks to Latin America, North America and the Mediterranean as Middle East oil disruptions put supply chains under pressure
In response to global energy market turmoil, Reliance Industries revamped its crude oil sourcing strategy for the July-September quarter. The company pivoted its petroleum exports to international markets, optimizing profitability. With the Strait of Hormuz and Saudi Arabia's pipeline creating hurdles, Reliance sought crude oil from Latin America and North America.
Flipkart, Exim Bank lead $8.13 billion external borrowing proposals in August
Indian companies have sought to raise a total of $8.13 billion in external commercial borrowings. This amount represents a 6% increase from the previous month's $7.70 billion. Notable proposals include Flipkart Internet Pvt Ltd aiming for $1.14 billion through a foreign loan. Additionally, the Power Finance Corporation and several other firms are looking to raise significant amounts for various purposes.
Why is Adani betting $3.4 billion on global energy trade chaos?
Adani Group is reportedly exploring a $3.4 billion acquisition of Dutch energy storage giant VTTI as global oil supply disruptions reshape energy trade. With terminals across 16 countries, VTTI could expand Adani Ports' international footprint, strengthen crude oil storage and logistics capabilities, and unlock opportunities in fuel trading, biofuels, hydrogen infrastructure and global energy supply chains amid geopolitical uncertainty.
Festive demand, capex to fuel India’s industrial growth in H2 FY27 despite risks: Report
Festive demand and sustained public capital expenditure are expected to support India's industrial activity in the second half of FY27, although unfavourable base effects, weak monsoon conditions and higher input costs could weigh on production, according to a report by Union Bank of India.
Pakistan running out of gas: 12 kg LPG cylinder costs PKR 7000
Pakistan’s gas crisis has intensified as LPG prices climb to PKR 600 per kg in some areas following disruptions to imports from Iran. Domestic gas production has fallen nearly 20% in five years, while circular debt and outstanding supplier payments have reached PKR 5.454 trillion. The country also faces challenges managing surplus imported LNG despite household fuel shortages.
US, Brazil and Israel elections put India’s trade worth billions in focus
Recent elections in the US, Brazil, and Israel may impact India's trade negotiations and economic partnerships. The US is close to finalizing a trade pact, which could affect Indian exports significantly. Brazil's growing economic relationship with India is leading to ambitious trade targets between the two nations. In Israel, the continuation of defense cooperation and negotiations for a free trade agreement are crucial for India.
E100 ethanol fuel allowed in India: What it is, whether you can use it in your existing petrol car & what the new rules mean
E100 ethanol fuel India: The government has amended vehicle emission rules to allow E100, a fuel containing 100% ethanol, in compatible flex-fuel vehicles alongside E85. The move supports India's push to increase ethanol use and reduce dependence on imported crude oil. However, E100 cannot be used in regular petrol cars unless they are specifically designed for the fuel, and no nationwide rollout date has been announced.
Govt should hike maize-based ethanol procurement rate by 9% to Rs 75 per litre: AIDA
The All India Distillers’ Association (AIDA) has approached the government with a request to elevate the maize-based ethanol procurement price to Rs 75 per litre. As maize prices continue to climb, AIDA expressed fears regarding the viability of grain-based distilleries and noted that current ethanol production plants are underutilized, which adversely affects profit margins.
India earns nearly 50% more from fuel exports in April-September as costlier oil and weak rupee outweigh lower volumes
India's petroleum product export earnings increased significantly in April to September, driven by high international prices. While the volume of shipments declined by 16%, earnings surged by nearly 50% in rupee terms. Diesel exports were the largest contributors to the earnings growth, accounting for 42% of the total volume. Both diesel and petrol consumption rose during this period, whereas production saw slight declines.
India’s ‘dear friend’ is back in power in Brazil, and a $30 billion trade opportunity is on the table
Prime Minister Narendra Modi congratulated Brazilian President-elect Luiz Inácio Lula da Silva on his re-election, pledging to deepen the India-Brazil Strategic Partnership. Bilateral trade rose 25% to $15.21 billion in 2025, with Lula setting a target of $30 billion.
LPG cylinder costs Rs 10,000 in Pakistan as border closure triggers shortages, 6,000 dealer shops shut
Pakistan's LPG crisis has pushed prices to Rs 750 per kilogram in some areas, taking cylinder costs above Rs 10,000. The Gabd-Rimdan crossing with Iran has reopened after a week-long suspension, but dealers are protesting alleged harassment by enforcement agencies. With market rates far above the official price, households are struggling to secure affordable cooking fuel.
US courting Reliance's refining muscle to keep oil flowing, not curb Russian crude, analyst says
Marco Rubio's recent visit to Jamnagar emphasizes strengthening energy ties between the US and Reliance Industries. With a capacity of 1.4 million barrels per day, Jamnagar plays a crucial role in global diesel exports. The US seeks to stabilize energy flows while urging India to diversify away from Russian oil. Reliance is also positioned to process Venezuelan crude, enhancing Washington's interests in the region.
Govt to bankroll half the cost of deepwater wells, but wants its money back from winners
The Indian government is initiating the Samudra Manthan scheme to encourage deepwater exploration for hydrocarbons. This scheme will provide financial assistance up to 50 percent of the costs for exploratory wells. Eligible wells will have a cost cap, and only state-run firms can apply for funding. The government expects repayment only if successful oil or gas is discovered during the exploration.
US designates helium as a critical material, citing its importance for semiconductors
The U.S. remains the largest producer of helium globally, with production primarily from natural gas processing. Helium is crucial for semiconductors, medical imaging, and renewable energy technologies.
Govt sets rules for Rs 84,084-cr offshore oil hunt, will share deepwater drilling risk
The Indian government will implement the Samudra Manthan scheme to encourage deepwater oil and gas exploration. Funding will cover part of the drilling costs for exploratory wells to enhance oil reserves. The initiative aims to reduce dependence on imported hydrocarbons while stimulating investment in offshore basins. Shared infrastructure support will also aid in connecting small discoveries for production.
India-US ties: Rubio says closer economic, energy cooperation benefits both nations
US State Secretary Marco Rubio concluded his visit to India, focusing on strengthening economic and strategic ties. He held discussions with External Affairs Minister S Jaishankar about a proposed bilateral trade agreement between both nations. Energy cooperation was also a key topic, including India's imports of Russian petroleum and increasing energy purchases from the US.
From Venezuela to Texas to Jamnagar: Marco Rubio’s dash for energy
US Secretary of State Marco Rubio is encouraging Reliance Industries to process more Venezuelan crude. His visit includes discussions with External Affairs Minister S. Jaishankar and plans for a refinery in Texas. The focus on Venezuelan oil aims at expanding reliance on alternative sources amidst geopolitical tensions. Washington is keen on tapping into Indian refining capacities for its energy strategies.
India eyes a $20 billion pot of gold in New Zealand as its trade pact goes live
The free trade agreement between India and New Zealand promises to promote trade and enhance professional movement. While some goods may enjoy duty-free status, a significant rise in merchandise exports might take time. However, New Zealand's engagement in several service sectors holds potential benefits for Indian companies. The agreement also opens up new job opportunities for Indian students and creates pathways for skilled professionals.
Russia ships the least crude oil in a month as major Baltic port halts
Russian crude shipments have dropped to a month low due to maintenance work disrupting operations at the Primorsk port. Despite a reduction in Ukrainian attacks on refineries, oil production facilities are still under threat. Notably, shipments to Asia, including significant customers like China and India, are declining, mirrored by a substantial fall in export values, signaling a downturn in demand.
Putin proposes three-way summit with Trump and Xi to negotiate Ukraine conflict: Report
Vladimir Putin has proposed a trilateral summit next month with Donald Trump and Xi Jinping to address the Ukraine conflict. The initiative appears to leverage improving relations between Trump and Putin amid concerns from Ukraine and European allies. Discussions regarding the meeting are ongoing, with confirmation from Kremlin spokesperson Dmitry Peskov about the talks. Trump, while not formally agreeing to the summit, has shown potential openness to resolve the war.
India sets zero sugar diversion for ethanol in 2026/27 tender
India has instructed oil marketing companies to cease sugar diversion for ethanol production by the year 2026-27. This decision arises amid rising sugar prices and concerns over domestic sugar supply due to poor rainfall. Ethanol from sugarcane juice and other sugar-based feedstocks will not be included in the latest tender. The government aims to boost domestic sugar production and curb oil imports as part of its policies.
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