Topic
petrochemicals
Commodities Cabinet Approves Rs 84,084 Crore 'Samudra Manthan' Scheme for Oil & Gas Exploration
India's Union Cabinet approved the Rs 84,084 crore 'Samudra Manthan' National Offshore Exploration Scheme to boost domestic oil and gas production. The scheme aims to add over 600 MMTOE of hydrocarbon reserves, with incremental annual output of 10–15 MTOE, as India seeks to cut its ~90% oil import dependence amid Middle East tensions.
Commodities BP Puts North Sea Oil and Gas Business Up for Sale, Ending 60-Year Era
BP has announced the sale of its North Sea business, marking the end of 60 years of production in the region. The portfolio includes five production hubs and around 1,100 employees. CEO Meg O'Neill said the business would be better positioned as part of another company.
Commodities Técnicas Reunidas wins $5.75bn EPC contract haul from ADNOC for Upper Zakum
Técnicas Reunidas has secured two contracts worth more than €5bn ($5.75bn) from ADNOC for the Upper Zakum megaproject, marking its largest-ever award as sole contractor. The EPCI packages will support expansion of the world's second-largest offshore oil field to 1.5m barrels per day.
Commodities From Hurricane Wasteland to World's Largest LNG Hub: Louisiana Parish Booms
Cameron Parish, Louisiana, transformed from a community destroyed by Hurricane Rita in 2005 into a global LNG powerhouse. The world's largest LNG terminal, Sabine Pass, operates there, processing 29.5 million tonnes annually. Two more terminals exist, and a $13bn fourth is under construction. The county projects over $4bn in tax revenues from LNG over the next decade, as US exports surge to supply European demand following Russia's invasion of Ukraine.
Commodities Benchmark Diesel Price Rises Third Week as Futures Plunge; Spread Hits Record
The DOE/EIA average weekly retail diesel price rose for a third consecutive week, gaining 17.9 cents to $5.313/gallon. Meanwhile, crude futures plummeted, with Brent settling at $88.36/b on Monday. The spread between ULSD and Brent reached a historic high above $2/gallon, driven by supply disruptions including Ukrainian drone attacks on Russian refineries and low Rhine River water levels.
Commodities India Plans to Source Up to Quarter of 2027 LPG Imports From United States, Sources Say
India plans to buy up to a quarter of its liquefied petroleum gas (LPG) imports from the United States in 2027, according to three sources. The move would reduce dependence on the Middle East and help secure a trade deal with Washington. State refiners Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum are expected to issue tenders within one to two months for US LPG supplies.
Commodities Australia considers first new oil refinery in over 60 years to boost energy security
Australia will consider building its first new oil refinery in more than 60 years, Prime Minister Anthony Albanese announced, with A$4 million funding for a feasibility study by Perdaman. The move aims to reduce reliance on fuel imports, which cover 80% of domestic needs, amid Middle East war supply disruptions.
Commodities India's average crude oil basket price plunges to $77.6/bbl in July from $114.5 in April
India's average crude oil basket price declined to $77.6 per barrel in July (up to July 22) from $114.5 per barrel in April 2026, according to the government. The drop, driven by easing geopolitical tensions in West Asia, is expected to support India's external sector and mitigate current account deficit pressures. The RBI has projected GDP growth of 6.6% and CPI inflation of 5.1% for 2026-27.
Commodities Worley Selected by Petrogas for Pre-FEED of Abeona CCS Project in Dutch North Sea
Australian engineering firm Worley has been selected by Petrogas to deliver pre-FEED for the Abeona carbon capture and storage (CCS) project in the Dutch North Sea. The project aims to provide CO2 transport and storage for hard-to-abate industrial emitters in the North Sea Canal Area and other Dutch regions, utilizing repurposed offshore infrastructure and new facilities.
Commodities India's Surging Refined Product Exports Ease Asia Fuel Crisis, Says Russell
India's exports of light and middle distillates are expected to reach 1.55 million barrels per day in July, the second-highest level in Kpler records since 2017, easing Asia's fuel crisis. The surge is driven by soaring product premiums after the breakdown of the US-Iran ceasefire, with Brent crude rising 34% from its post-deal low. Other exporters like Oman and Taiwan are also boosting output, but Asia's imports remain 18% below pre-conflict levels, indicating continued tightness.
Commodities Under-recoveries push HPCL, BPCL into losses: Times of India report highlights state-owned oil firms' financial strain
According to a Times of India article, state-owned HPCL and BPCL are being pushed into losses due to under-recoveries. The report, authored by Atul Mathur, highlights financial strain but does not provide specific figures or commodity prices.
Commodities Diesel Prices Surge in Largest Weekly Jump Since Iran War, Now Double Brent Crude
Diesel prices experienced their largest weekly jump since the Iran War, adding over 55 cents per gallon in two weeks, according to the latest DOE/EIA report. The surge has pushed diesel to double the price of Brent crude, highlighting severe imbalances in the global energy market. The spike threatens US industry, strains supply chains, and raises concerns ahead of hurricane season and ongoing geopolitical conflicts.
Commodities Big Jump in Benchmark Diesel Price Is Second Largest Since Iran War Began
The DOE/EIA benchmark diesel price surged 33.8 cents/gallon to $5.134/g, marking the second-largest weekly increase since the start of the Iran war. Ultra low sulfur diesel (ULSD) on CME settled at $4.119/g, nearing a $1 gain from early July. Supply disruptions from the Strait of Hormuz and potential Houthi attacks on Saudi Arabia continue to fuel bullish sentiment.
Commodities India Signed 8.4 mtpa of Long-Term LNG Contracts in 2025, Leading Global Buyer: GIIGNL
India was the most active buyer of long-term LNG contracts in 2025, signing 8.4 million tonnes per annum (mtpa) across six entities, according to the International Group of Liquefied Natural Gas Importers (GIIGNL). The global LNG contracting market saw 83 long-term sale purchase agreements (SPAs) totaling 71.6 mtpa, nearly double the 47 SPAs in 2024. The report also highlighted risks from the West Asia conflict, including an attack on Qatar’s Ras Laffan terminal and reliance on the Strait of Hormuz.
Commodities ADNOC Makes $6.2bn Final Investment Decision for Umm Shaif Offshore Gas Field Expansion
Abu Dhabi National Oil Company (ADNOC) has taken a $6.2bn final investment decision to develop the Umm Shaif offshore gas field with partners TotalEnergies, Eni, and CNPC. The project will unlock over 600 million standard cubic feet per day of natural gas, equivalent to nearly 10% of the UAE's daily consumption, with production targeted by 2030. It includes $5.1bn in offshore infrastructure contracts and a $365m drilling program by ADNOC Drilling.
Commodities Time Is Ticking for Oil Reserves: Crack Spreads Hit Record as Refined Product Markets Tighten
The US-Iran peace agreement came under strain on July 7, sending crude prices higher. However, crack spreads have hit a fresh all-time high of $69.16/barrel, indicating refined product markets are tighter than crude markets due to supply constraints, not demand. EIA data shows distillate and gasoline inventories below 5-year averages.
Commodities India overtakes Spain to become world's fourth-largest LNG regasification market with 52.5 mtpa capacity
India's LNG regasification capacity reached 52.5 million tonnes per annum (mtpa) in 2025, making it the fourth-largest market globally after Japan, China, and South Korea, according to the International Gas Union (IGU) World LNG 2026 report. Utilisation declined to 47% due to weaker summer imports and new capacity additions. The report also highlights the resilience of the global LNG market amid Middle East conflict and strong long-term demand drivers.
Commodities Russia to Continue Supplying Half of India's Crude Oil Imports in July and August
India's crude oil imports from Russia are expected to keep June's record pace in July and August, with Russian barrels accounting for over half of shipments. Refiners are leveraging Russian crude as a hedge against supply disruptions from the Strait of Hormuz, while West Asian producers like Saudi Arabia and UAE try to regain share with price cuts and alternate routes.
Commodities Crude Oil Futures Jump Over 4% as US-Iran Strikes Threaten Strait of Hormuz
Crude oil futures jumped more than 4% on Monday after the US and Iran launched attacks against each other and Iran announced closure of the Strait of Hormuz. September Brent reached $79.13, up 4.1%, while WTI rose 4.12% to $74.35. Escalation has slowed vessel transits, raising fears of oil supply tightness through Q3.
Commodities Reverse Oil Flow: India Supplies Gasoline to Russia as War Cripples Refineries
India has supplied gasoline to Russia for the first time, with Nayara Energy dispatching 60,000 metric tons of gasoline. The reverse flow follows Ukrainian drone attacks that have crippled over 40% of Russia's refining capacity, forcing Moscow to import gasoline even as it remains a major crude exporter. Oil minister Hardeep Singh Puri clarified that Indian companies are not directly selling to Russia; the gasoline was purchased from international traders.
Commodities Oil Prices Slip but Head for Weekly Gains as US-Iran Conflict Keeps Supply Fears Alive
Oil prices edged lower in early trade on Friday but remained on course for strong weekly gains as renewed military exchanges between the United States and Iran kept concerns over global crude supplies elevated. Brent crude was set to post a 6% weekly gain, while WTI was on track to rise 5%. The disruption to the Strait of Hormuz remains a key concern, though demand-side worries from inflation limited the upside.
Commodities India Opens Bids for ₹37,500 Crore Coal Gasification Scheme to Boost Energy Security
The Indian government has invited proposals for setting up coal and lignite gasification projects under a ₹37,500 crore incentive scheme launched in May 2026. The scheme aims to produce syngas and downstream products like SNG, urea, and methanol, reducing import dependence and utilizing domestic coal. Key dates include a September 7 application deadline and a November 4 Letter of Award issuance.
Business Bureau Veritas Agrees Sale of Fuel Testing Division to Triton Partners for €470M
Investment fund Triton Partners has entered exclusive negotiations to acquire Bureau Veritas' fuel testing and inspection services business, BVF, for an enterprise value of €470 million. The transaction, expected to close in Q1 2027, would transfer a global network of 320 sites across 45 countries and 7,400 professionals to Triton.
Commodities India Extends Duty Relief on Key Petrochemical Products Until July 15 Amid West Asia Tensions
The Indian government has extended duty relief on around 40 key petrochemical products including Anhydrous Ammonia, Methanol, and Styrene until July 15. The exemption, first introduced on April 2, aims to protect domestic industries from supply chain disruptions due to West Asia tensions. The extension comes as the government monitors global freight and supply chain impacts, with a customs revenue target of Rs 2.71 trillion for FY27.
Commodities Jet fuel prices cut to Rs 110/litre: Will airfares get cheaper?
Jet fuel prices have been cut to Rs 110 per litre, as reported by Business Today. The reduction could lower airline operating costs, but the source provides no details on the date, previous price, or underlying market factors. Commodity traders and analysts track jet fuel as a key derivative of crude oil.
Commodities Saudi Arabia slashes August crude prices for Asia by $11 a barrel in biggest cut in over 20 years
Saudi Arabia has slashed its official selling price for August crude oil deliveries to Asia by $11 per barrel, marking the largest cut in over two decades, according to a Times of India report.
Commodities MRPL becomes first Indian state refiner to charter Iraqi crude cargo since Hormuz blockade
Mangalore Refinery and Petrochemicals Ltd (MRPL) has chartered the Aframax tanker Jasmin Joy to load crude oil from Iraq's Basrah oil terminal on July 19-20, becoming the first Indian state-owned refiner to secure a west-of-Hormuz cargo since the Strait of Hormuz partially reopened after disruptions from the Israel-Iran conflict. The move highlights ongoing shipping challenges for Indian state refiners. MRPL operates a 300,000 barrel-per-day refinery in Karnataka.
Commodities India boosts LPG production capacity to 54,000 metric tonnes per day, says Hardeep Puri
Petroleum and Natural Gas Minister Hardeep Singh Puri announced at the Viksit Bharat Conclave 2026 that India successfully ensured uninterrupted LPG supply by boosting domestic production capacity from 35,000 to 54,000 metric tonnes per day, along with effective diplomacy to secure energy supplies. The minister also highlighted a significant natural gas discovery in the Andaman region and the 'Samudra Manthan' initiative for energy self-reliance.
Commodities As Prices Fall, Crack Spread Signals a Split in Oil Markets Amid Diesel-Crude Divergence
The 3:2:1 crack spread has risen to 70-75% of crude value from 27% at the start of 2026, as crude prices fell 7% in two weeks while diesel prices climbed. The divergence, driven by the Strait of Hormuz reopening and Chinese inventory draws, has left retail diesel price indicators showing significant disparity.
Commodities Essar Energy Transition Renews $300 Million Crude Facility with Petraco Oil
Essar Energy Transition Fuels has renewed a three-year, $300 million strategic crude and product facility with Petraco Oil Company SA. The deal supports feedstock diversification and strengthens the company's commercial performance at the Stanlow Refinery in the UK.
Commodities 145% rise in LPG imports: India plans to double US purchases to cut Gulf dependence
India is doubling its contracted LPG imports from the US after a 145% rise in June compared to February, driven by the US-Iran war and Strait of Hormuz closure. The US share of India's LPG imports jumped from 8% in 2025 to 65% in June. Despite diversification, analysts say reliance on Gulf supplies will continue.
Commodities OPEC+ to Prioritise Oil Supply Over Price Floor Until Hormuz Normalises, Says Kotak Securities Analyst
OPEC+ is prioritising oil supply over defending a price floor, according to Kotak Securities analyst Anindya Banerjee, as the Strait of Hormuz remains only half-normalized. Brent crude staying below $85 per barrel will benefit India, but a full normalization of Hormuz over the next six to nine months could lead to a surplus if OPEC+ continues unwinding cuts amid weak demand. Internal divisions within OPEC+, including UAE stepping out and Iraq demanding higher quotas, complicate the group's cohesion.
Commodities India launches first strategic natural gas storage amid West Asia supply disruptions
India has started developing its first strategic natural gas storage system, prompted by supply disruptions from the West Asia conflict. Public sector oil companies are evaluating underground salt caverns and cryogenic LNG tanks. A Petroleum Ministry committee is assessing storage options for LNG and LPG, while a CEEW study notes India imports nearly half its gas requirement without any dedicated strategic storage.
Commodities OPEC+ Agrees in Principle on 188,000 b/d Output Hike for August, Delegates Say
OPEC+ preliminarily agreed to increase oil output quotas by 188,000 b/d in August, delegates said. The increase, if ratified, would add to a total of 940,000 b/d since the war began. Restored shipments after the US-Iran peace pact have created a surplus in Asian markets and erased the war rally.
Commodities Beyond Hormuz: What HPCL Rajasthan Refinery Limited Inaugurated by PM Modi Means for India's Energy Security
Prime Minister Narendra Modi inaugurated the HPCL Rajasthan Refinery Limited (HRRL) in Pachpadra, India's first greenfield integrated refinery-cum-petrochemical complex. The project, part of a Rs 1.06 lakh crore infrastructure push, aims to reduce India's vulnerability to supply disruptions highlighted by the recent Strait of Hormuz crisis. Union Minister Hardeep Singh Puri noted India's refining capacity will rise from 270 MMTPA to 310-320 MMTPA by 2030, contrasting with declining capacity in the US and Europe.
Commodities India's Crude Oil Inventory Nears One-Year High on Strong Imports After US-Iran War Depletion
India's crude oil inventories have recovered to near a one-year high at 104 million barrels at end-June, according to Kpler, up from 90.5 million in April. The rebound was driven by strong imports, including record Russian crude purchases exceeding 2.5 million bpd, after stocks were depleted during the US-Iran conflict that disrupted flows through the Strait of Hormuz. The current inventory is sufficient for about 21 days of consumption.
Commodities India imported record crude volumes in June despite West Asia tensions: Kpler
India imported a record 4.93 million barrels per day of crude oil in June 2024, the highest June volume on record, despite ongoing geopolitical tensions in West Asia. Russian crude imports climbed to around 2.6 million bpd, reinforcing Russia's position as India's largest supplier. Kpler analyst Sumit Ritolia attributed the resilience to proactive diversification and procurement strategies.
Commodities Indian Refiners Book Crude for 45 Days as Flush Market Favors Buyers
Indian refiners have stocked up on crude oil for the next 45 days, with Russia remaining the top supplier and replacement barrels coming from the US, Venezuela, Africa, and Oman. The market is favoring buyers due to de-escalation in West Asia and increased Middle Eastern cargoes, as noted by Kpler and industry sources.
Commodities Vallourec Secures Pipe Supply Contract for Azule Energy's $5.1bn Angola Offshore Development
French tubing manufacturer Vallourec has been awarded a contract by Azule Energy to supply more than 26,000 tons of seamless carbon steel line pipes for the Greater PAJ offshore development in Angola. The project, with a total investment of $5.1bn, involves five fields and first oil expected by the first half of 2029.
Commodities China Speeds Up Sulphur Futures Plans as Iran Conflict Triggers Price Volatility
China is accelerating plans to launch its first sulphur futures contracts this year as the Iran conflict has intensified price volatility. The Dalian Commodity Exchange is likely to launch in Q4 2026. Spot sulphur prices in eastern China hit a record 11,850 yuan per metric tonne before easing to 9,043.5 yuan per tonne as shipments resumed through the Strait of Hormuz, but remain 292% higher year-on-year.
Commodities Middle East fuel oil exports hit four-month high as Hormuz shipping recovers
Middle Eastern fuel oil exports are set to rebound to a four-month high in June, rising more than 20% from May, as Iraq and Saudi Arabia reroute supplies through alternative ports while Strait of Hormuz shipments gradually resume after the US-Iran interim peace agreement. Exports are expected at about 2.4 million metric tonnes, still far below pre-conflict levels, with recovery constrained by tighter regional balances and peak summer demand.
Commodities India launches 2% isobutanol-diesel trials, paving way for first diesel biofuel programme
India has initiated trials of a 2% isobutanol-diesel blend in commercial vehicles, marking the first step toward a diesel biofuel programme. The government-backed initiative involves HPCL, ARAI, Praj Industries, and automakers like Tata Motors. The move follows failed ethanol-diesel blends and leverages isobutanol's compatibility with diesel.
Commodities Beyond Oil Tanks: Strategic Pricing Reserves, the New Mantra for India’s Energy Security
India’s heavy reliance on Gulf oil imports (48% of daily 5 million barrels) left it vulnerable during the Iran war, with crude prices surging from $70 to $110 per barrel. The country’s Strategic Petroleum Reserves were only 64% filled, providing just 74 days total cover. The additional import bill threatened to match the defence budget, highlighting the need for strategic pricing reserves alongside physical storage.
Commodities US President Donald Trump orders DOJ probe into petrol price gouging as oil prices fall
President Donald Trump announced Wednesday that he has ordered the Department of Justice to investigate major energy companies for petrol price gouging, accusing them of not cutting pump prices in line with falling crude oil costs. Brent crude has dropped to around $76 a barrel from nearly $120 in May, yet the average US gasoline price remains at $3.90 per gallon, well above pre-conflict levels.
Commodities All Roads Still Lead to the Middle East: Why India’s Energy Pipeline Runs Through the Gulf
A Hormuz crisis lasting over 100 days exposed India's continued reliance on Middle Eastern energy supplies. Despite attempts to diversify LPG imports from West Africa and the US, physical constraints prevented full offset. LNG demand fell as landed prices stayed above $16-17 per mmBtu. Normalisation of Hormuz traffic could ease supply pressures.
Commodities CIMC Raffles Signs Contract for Azule Energy's Greater PAJ FPSO Project Offshore Angola
Chinese yard CIMC Raffles has signed an EPCIC contract for the Azule Energy-led Greater PAJ FPSO project offshore Angola. The FPSO will have a production capacity of 95,000 barrels of oil per day and a gas export capacity of 70 million cubic feet per day, with first oil expected in H1 2029. Saipem and TechnipFMC have also been awarded contracts for transportation and flexible flowlines respectively.
Commodities Saipem and TechnipFMC Secure Over $1bn in Contracts for Angola's Greater PAJ Offshore Oil Project
Saipem and TechnipFMC have been awarded contracts worth over $1bn for the Greater PAJ project offshore Angola, operated by Azule Energy (Eni/BP JV). Saipem's $1bn contract covers subsea pipeline installation, while TechnipFMC's deal valued at $75-250mn involves flexible flowlines. First oil is expected in the first half of 2029, adding 95,000 bpd of production capacity.
Commodities India's LPG imports from US to cross 1 million tonnes amid Middle East disruption
India's imports of liquefied petroleum gas (LPG) from the United States are set to cross 1 million metric tonnes in June for the first time, as disruptions in the Middle East force a shift in sourcing. The move comes after supplies through the Strait of Hormuz were disrupted, leading to a sharp drop in April imports and a subsequent recovery via US cargoes. Indian refiners bought record volumes despite higher premiums, while the government implemented measures to boost domestic production and reduce consumption.
Commodities India's LPG imports from US set to cross 1 million tons in June, sources say
India’s LPG imports from the US are poised to exceed 1 million metric tons in June, a record, as the closure of the Strait of Hormuz forces New Delhi to seek costlier alternatives. Imports from the US are expected to reach 1.1-1.2 million tons, while supplies from the UAE via Oman's Sohar port are recovering. The government has also taken steps to reduce domestic LPG consumption by 15-20%.
Commodities Falling Crude Prices to Boost OMC Profits: JP Morgan Report Highlights Margins and Risks
A JP Morgan report indicates that falling crude oil prices will boost profitability for state-run oil marketing companies (OMCs) by improving fuel marketing margins, though rising debt levels and potential excise duty restoration pose risks. BPCL and IOC are identified as key beneficiaries.
Commodities Venezuelan Crude Exports More Than Double Amid US Licence Restoration and Strong Tanker Demand
Venezuela's seaborne crude exports have more than doubled in 2026, rising from 620,000 bpd in January to 1.5m bpd by mid-June, following US licence reinstatements. The US is the top destination, accounting for 44.7% of exports, while aframaxes dominate tanker liftings at 38%. Vitol and Trafigura are marketing cargoes, and SLB has signed a long-term agreement with PDVSA.
Commodities Middle East conflict forces India to diversify LPG imports as OMCs absorb price shocks
The Middle East conflict prompted India to significantly diversify its LPG imports, reducing dependence on the Gulf from 90% to about one-third from the US. State-run oil marketing companies absorbed much of the global price rise, leading to under-recoveries of nearly Rs 22,000 crore between March and May. LPG consumption fell sharply, especially among commercial and industrial users.
Commodities Deputy Proposes 10p/Litre Fuel Duty Cut for Three Months to Ease Cost of Living
Deputy Lucy Stephenson has proposed a three-month reduction in fuel duty of 10p per litre from 1 October to 31 December, aimed at easing cost-of-living pressures. The current duty is 64p per litre. The proposal is set to be considered by the incoming minister for treasury and resources.
Commodities Iran-US Peace Deal Reopens Hormuz: 62 Million Barrels Set to Flood Market, Asia Braces for Oil Glut
The US-Iran peace deal has ended the blockade of the Strait of Hormuz, releasing 62 million barrels of crude stranded in supertankers. Asian refiners, who secured alternative supplies during the conflict, now face a potential oil glut. The forward curve for Middle Eastern grades has shifted into contango, signaling bearish sentiment.
Commodities Oil Prices Dip Near $70 per Barrel as Middle East Turmoil Cools After US-Iran Deal
Oil prices have fallen sharply, with WTI crude trading at $76.46 per barrel and Brent at $79.41, as a US-Iran peace agreement raises expectations that the Strait of Hormuz will reopen. Both benchmarks dropped about 5% to three-month lows. However, uncertainty over the truce's durability and the time needed to restore production persist, while US intelligence warns Iran retains the capability to shut the strait.
Commodities India's 3Fs Stress: How the US-Iran War Is Straining Fuel, Fertilisers and Forex
India is under stress from the '3Fs' — fuel, fertilisers, and forex — as the US-Iran war drives up crude oil prices and disrupts supplies via the Strait of Hormuz. Finance Minister Nirmala Sitharaman urged conservation of foreign exchange. With over 85% crude import dependence and 50% of DAP and urea imports from the Middle East, the entire 2026-27 fiscal year could be affected, according to EY India's chief policy advisor.
Commodities Oil Supply Recovery May Take Months Despite Strait of Hormuz Reopening, Experts Say
Despite the agreement to reopen the Strait of Hormuz, oil supply recovery is expected to take months due to stranded tankers, shut-in production, and security concerns. Experts from S&P Global, Wood Mackenzie, and Columbia University highlight slow logistics, insurance hurdles, and the need for a durable ceasefire before producers restart operations.
Commodities Crude Oil Futures Rise Amid US-Iran Tensions
Crude oil futures saw an increase following US military strikes on Iran. Brent and WTI futures rose, driven by geopolitical tensions and potential disruptions in the Strait of Hormuz.
Commodities India Considers Delaying Higher Ethanol Mandate
India's government is considering delaying the increase in ethanol blending from E20 to E25 due to concerns about vehicle compatibility. Most vehicles manufactured before 2025 are not fully compliant with higher ethanol blends, potentially impacting mileage and maintenance costs.
Commodities India and UAE to Expand Strategic Crude Oil Reserves
India and the UAE are collaborating to expand UAE-linked crude oil storage in India from 5.8 million barrels to 30 million barrels. This initiative involves new construction projects and potential storage at Mangalore, Visakhapatnam, and Chandikol.