Indian Oil Corporation is currently not in discussion for a fixed quantity deal to import Russian oil. The decision is due to the volatility in the international market. Import of Russian oil rose after the Ukraine war. Russia was India’s top crude oil supplier for three years. IOC’s import of Russian oil has decreased to 22-23 percent.

India’s biggest refiner, Indian Oil Corporation, has agreed to a five-year deal to import liquefied natural gas (LNG) from global trading firm Trafigura, according to three trade sources on Wednesday. The price for the LNG will be linked to the U.S. Henry Hub benchmark.

The World Bank forecasts that India’s oil consumption will be negatively affected by escalating trade tensions. Globally, oil consumption growth is expected to slow significantly in 2025 and 2026. Despite falling global commodity prices, India’s coal consumption is projected to rise, driven by government policy and the limited role of renewable energy in meeting electricity needs.

Shell’s attempt to sell Sprng Energy faces challenges due to valuation disagreements. Discussions with Sekura Energy and ONGC stalled. Investors offered less than expected for Sprng Energy’s assets. Shell acquired Sprng Energy from Actis in 2022. The company may consider listing Sprng Energy in India. Sprng Energy has 2.3 GW of operational assets and a 5 GW pipeline.

Union Minister Hardeep Singh Puri stated India’s commitment to an inclusive global energy future through open collaboration, highlighting the India-Middle East-Europe Economic Corridor (IMEC) as a key initiative. IMEC aims to integrate energy, trade, and digital infrastructure, fostering clean energy solutions.

Ahead of trade talks, Indian refiners are increasing US oil purchases, with June imports set to hit an 11-month high due to discounted WTI prices and geopolitical strategies. This surge in American crude is displacing West African imports, as India seeks to reduce reciprocal tariffs and address its widening trade deficit.

Delhi’s power demand surged to a season-high of 6,015 MW on Monday, driven by scorching temperatures reaching 40.4 degrees Celsius. This peak demand, recorded at 3:30 pm, marks the highest for April 28 in the last three years. Discoms like BSES and TPDDL successfully met the escalating demand, with green power playing a crucial role.

AESL’s profit after tax surged 87% year-on-year to Rs 714 crore in the March quarter, while total income rose 36% to Rs 6,596 crore. For the fiscal year ended March 31, profit after tax soared 103% to Rs 2,427 crore and total income grew 42% to Rs 24,447 crore. Total orderbook stood at Rs 60,000 crore as of March-end.

India is considering expediting five hydroelectric power projects in Jammu & Kashmir, potentially bypassing the Indus Waters Treaty (IWT) clearance process. This move aims to boost J&K’s power generation by 4000MW and enhance India’s strategic control over western river water resources. The projects, including Bursar, Dulhasti II, Swalkote, Uri Stage II, and Kirthai II, could be completed in 3-5 years.

India is set to overhaul its power sector regulations, prompted by NITI Aayog’s study on the effectiveness of electricity regulatory commissions (ERCs). The study aims to strengthen these institutions to handle the evolving electricity landscape, including new market entrants and technologies.