Russia-Ukraine war will enhance low-emissions technology

A senior German official predicted Tuesday that the war in Ukraine and its impact on fossil fuel prices worldwide will provide a “massive boost” for the means and measures needed to curb climate change. Patrick Graichen, Germany’s deputy energy and climate minister, said rising global prices for oil, gas and coal will accelerate the uptake

Russian crude cargoes lucrative for Asian importers

Lucrative offers for Russian spot crude cargoes may look attractive at first glance, but Asian oil importers appear reluctant to close deals as they cautiously weigh shipping risks, bandwidth to absorb incremental supplies, and risks to sensitive bilateral relations with key trading partners. Although crude oil above $100/b makes any kind of discount attractive to

IOC buys Russian Urals crude from Vitol

Indian Oil Corp, the country’s top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May delivery, trade sources said, its first purchase of the grade since Russia invaded Ukraine on Feb. 24. Western sanctions against Russia have led many companies and countries to shun its oil, depressing Russian crude to record

How trump’s oil policies driven profits for Putin and fossil-fuel promoters

It was a double-whammy for two of then-President Donald Trump’s biggest patrons, Vladimir Putin and American fossil-fuel billionaires and their industry: the price of oil was too low. Between the pandemic-induced collapse in demand for oil and the price war Saudi Arabia was then fighting with Russia — two of the world’s largest producers —

Tech Mahindra signs ‘the climate pledge’

Tech Mahindra now joins a group of companies like SAP, Maersk and Harman in the ‘The Climate Pledge’, the commitment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. It is one of the 95 new signatories for the cause. This is nearly a 600 per cent growth in signatories

Amid Russian crude loss European refiners forced to amend output

European oil refiners will probably be forced to cut production of gasoline and diesel as they seek to find alternatives to Russian feedstocks. Shell Plc, which operates Europe’s biggest oil refinery, said this week that operating rates at some of its plants will be reduced, while finding other crude supplies could take weeks. That would

Reliance to supply diesel to Europe

Energy crunch prompted by Russia’s invasion of Ukraine is giving Reliance Industries Ltd. a much-needed boost. The Jamnagar facility of the company is lifting crude processing and deferring planned maintenance to take advantage of surging demand for diesel, according to people with direct knowledge of the matter. It’s already sending shipments of the fuel to

Nitin Gadkari seeks reduction in fossil fuel consumption

Citing the spurt in crude prices due to the war in Ukraine as a wake-up call, Union Road Transport Minister Nitin Gadkari has urged chief executive officers of major vehicle manufacturers and representatives of automobile lobby group SIAM to expedite the roll-out of vehicles of flex-fuel variants. According to the ministry, Gadkari has maintained that

O&G companies are eyeing at a windfall from the Ukraine war

Oil and gas companies are facing a potential bonanza from the Ukraine war, though few in the industry want to admit it, and many are using soaring prices and the fear of fuel shortages to cement their position with governments in ways that could have disastrous impacts on the climate crisis. “There is a huge

No shortage of crude oil in the country: Hardeep Sigh Puri

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said oil companies will fix the fuel prices. He said that in the wake of Russi-Ukraine war, there is no scarcity of crude oil in the country. Puri, however, said the government will take decisions in the best interest of citizens. ”I assure you all