Latest news with #SDinakar
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Business Standard
2 days ago
- Business
- Business Standard
Indian refiners unfazed by European Union's new Russia oil sanctions
Fuel export to Europe is already on decline after record 2023 S Dinakar Amritsar Listen to This Article Indian refiners are relatively unconcerned by the European Union's (EU) new round of sanctions on exports of Russian oil and the banning of purchases of fuels made from Russian grades, according to conversations with state-owned and private refiners, industry participants, and exclusive ship-tracking data. Private-sector refiners — against which the latest EU sanctions package is primarily directed — such as Nayara, have already found ways to circumvent these sanctions, market intelligence data shows. Also working in favour of Indian refiners and banks is New Delhi's strong stance against the EU's 18th sanctions package, along with a parallel move by the
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Business Standard
30-06-2025
- Business
- Business Standard
US crude oil exports jump in hope for India as trade treaty deadline nears
Total imports from the US stood at $8.9 billion in April-May 2025, up from $7 billion in the same period a year earlier, Indian customs data showed S Dinakar New Delhi Listen to This Article India increased imports of all products from the United States by 27 per cent in value terms during the first two months of FY26, driven largely by a 38 per cent surge in crude oil purchases led by state-run Indian Oil Corporation. The spike comes ahead of the 9 July deadline to conclude the first phase of a bilateral trade agreement, according to exclusive shipping and customs data accessed by Business Standard, and conversations with refiners. The rise in imports may help convince the administration of President Donald Trump of India's intent to expand energy trade with the US—despite the
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Business Standard
18-06-2025
- Business
- Business Standard
India's fuel exports face EU sanction risk amid West Asia oil crisis
The bloc's proposal on barring imports of diesel, gasoline & jet fuel derived from Russian crude oil in refineries is of concern because it does not require US or G7's cooperation for implementation premium S Dinakar New Delhi Listen to This Article The conflict in West Asia and its impact on crude oil prices is taking attention away from Europe planning fresh Russian sanction measures, which like the European Union 's carbon tax on imports threaten to hurt India's $63 billion in annual petroleum product exports, according to industry sources and Customs and shipping data. Fuel exports constituted 14 per cent of India's total exports in FY25, according to calculations based on Customs data. Overall petroleum product exports were as high as $84.1 billion in FY24. The European Union (EU) proposal to bar imports of diesel, gasoline and jet fuel derived
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Business Standard
01-06-2025
- Business
- Business Standard
US sanctions on Russia likely to cripple India's crude oil imports
Russian grades constituted around 39% of India's oil imports in May S Dinakar Amritsar Listen to This Article A powerful senator in America has sponsored a Bill increasing sanctions on Russian crude oil after Russian President Vladimir Putin last weekend bombed Ukraine. The Bill, if cleared, will cripple India's import of Russian oil, according to industry officials and the ship-tracking data. New measures from America are 'secondary sanctions', like a 500 per cent tariff on countries buying Russian energy, targeting India and China. The proposed law endangers supplies of nearly two million barrels per day (bpd) of Russian crude oil, worth around $154 million, at the rates worked out in February, according to calculations by Business Standard based
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Business Standard
26-05-2025
- Business
- Business Standard
Tough emission targets may raise carbon credit prices, impact net zero goal
"More stringent targets, combined with fair carbon pricing, are urgently needed to safeguard Indian industry's competitiveness while still fulfilling our climate commitments" S Dinakar Amritsar Listen to This Article India ignored the elephant in the room — iron and steel — when it announced new draft regulations last month for setting compulsory emission targets for greenhouse gases (GHGs) under the first phase of the compliance regime of the country's Carbon Credit Trading Scheme (CCTS). New Delhi put 282 units, falling under four sectors — aluminium, cement, chlor-alkali, and pulp and paper — on notice. The units belong to some of India's leading conglomerates like Vedanta, Hindalco, Nalco, UltraTech, ACC, Ambuja, Dalmia, and JSW Cement. For now, it has left out five sectors, including steel and
