India is seeking to diversify its oil import sources amid tough U.S. sanctions on Iran and Venezuela, two key members of the Organization of the Petroleum Exporting Countries that provides the bulk of its crude needs.
India is likely to seek cooperation in obtaining cheaper energy when Saudi Arabia’s Crown Prince Mohammed bin Salman visits the nation on Feb. 19-20. This will be the crown prince’s first visit to the region since the murder of Saudi journalist
India’s demand for crude oil is rising at a pace that will outstrip China’s volume of growth and put the country right behind the U.S. in this measure, a position that will allow the South Asian country to expand its influence in the market for the essential commodity.
The 30% slide in international crude oil prices from four-year highs notched in early October could well benefit the chances of Prime Minister Narendra Modi’s ruling Bharatiya Janata Party in India’s general elections, to be held in the spring.
As the global economy is buffeted by U.S. President Donald Trump’s trade dispute with China and a government shutdown in Washington that has stretched into the new year, equities and commodities markets around the world are edgy.
India’s electricity industry is in a financial and political tangle. Power producers sit on thousands of megawatts of underutilized plant, while consumers face frequent power cuts, both planned and unplanned.
Coal, one of the world’s most polarizing commodities, has now become an Asian irony. Efforts to curb use of the so-called black diamond in the West have been a boon for coal companies in the East, more so now that the benchmark price for thermal coal exceeded $120 per ton in July, the highest since 2012.
On June 20, Shillong in northeastern India was selected as the 100th and final city to be included in Prime Minister Narendra Modi’s Smart Cities Mission, taking the total proposed investment in the ambitious program to 2.05 trillion rupees ($29.9 billion).
The Asian market for liquid natural gas is being transformed as Thailand, Pakistan and others join the ranks of importers and consumption grows rapidly in China and India
China is making a monumental change in how it governs its energy sector: by giving itself an energy ministry. Beijing announced earlier this month that the country’s vast oil, gas, coal and power sectors will be overseen by an energy ministry, which would replace an existing regulator.