S Dinakar

All stories by S Dinakar

Russians Devise Ways To Outwit US, Help India

Russians Devise Ways To Outwit US, Help India

Rediff.com1 Mar 2024

Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.

US Targets India's Russian Oil Source

US Targets India's Russian Oil Source

Rediff.com28 Feb 2024

Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.

Houthi attacks on Russian oil tankers complicate things for Indian refiners

Houthi attacks on Russian oil tankers complicate things for Indian refiners

Rediff.com19 Feb 2024

The unexpected missile attack on a second India-bound ship carrying Russian crude, just three weeks after the first, has complicated matters for domestic refiners. India now counts the Vladimir Putin-led nation as its biggest oil supplier, according to Paris-based market intelligence agency Kpler, and these attacks come on top of US sanctions since December, where vessels that bring crude to India are facing heightened scrutiny. Panama-registered Pollux, which loaded crude at the Sheshkaris oil terminal in the Russian port of Novorossiysk on January 24, was scheduled to deliver the medium, sour Urals grade to Paradip port on February 28.

Houthi Attacks Won't Affect India's Fuel Supplies

Houthi Attacks Won't Affect India's Fuel Supplies

Rediff.com13 Jan 2024

Most of India's oil supplies are expected to stay safe because of the country's good relations with both Russia and Iran. That would take care of over a third of India's supplies.

Oil imports from Russia likely to decline this year

Oil imports from Russia likely to decline this year

Rediff.com9 Jan 2024

Indian imports of Russian crude oil may stabilise or even decline in 2024 from record 2023 levels amid shrinking discounts, lower output, and a rebound in West Asian supplies, according to the ship-tracking data and industry executives. This may impact the billions of dollars in annual savings that India made last year. Imports of Russian oil jumped by a record 140 per cent in calendar 2023 to 1.79 million barrels a day (b/d) from 740,400 b/d in 2022, when Russia marched into Ukraine in February, and from just 102,000 b/d in 2021, according to the data from Paris-based market intelligence agency Kpler.

Renewable energy: Avaada, others up the ante against conglomerates

Renewable energy: Avaada, others up the ante against conglomerates

Rediff.com24 Dec 2023

When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.

Israel-Hamas conflict: India's hope of respite in oil prices dashed

Israel-Hamas conflict: India's hope of respite in oil prices dashed

Rediff.com17 Oct 2023

The ongoing Hamas-Israel conflict has disrupted India's efforts to gain from a recent fall in crude oil prices. Since Hamas' invasion of southern Israel on October 7, petroleum has become costlier by around $5 per barrel, threatening to stoke prices and impact growth. Brent crude was trading at $89.8 per barrel on October 9 (9.15 pm IST), up over 4 per cent, thwarting India's anticipation of a period of declining oil prices - after the leading global petroleum benchmark declined by around 11 per cent last week.

Crude import from Russia declines to lowest in 7 months

Crude import from Russia declines to lowest in 7 months

Rediff.com3 Sep 2023

Indian imports of Russian oil plunged by a record in August month-on-month (M-o-M) as discounts on the fuel shrank in tandem with rising Brent oil prices. Higher crude prices will drive inflation or hurt earnings at oil companies and India's fiscal position if such spikes are not passed on to consumers. Indian purchases of Russian crude declined by around 24 per cent in August from July to the lowest level since January, with refiners expecting volumes to drop further amid rising rates of Russian benchmark Urals grade, substantial stocks at refiners, and planned maintenance at Indian refineries, according to ship tracking data and industry officials.

How FAME scheme changes impact electric vehicle fortunes in India

How FAME scheme changes impact electric vehicle fortunes in India

Rediff.com19 Jun 2023

New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.

India's import of discounted Russian crude hits all-time high in May

India's import of discounted Russian crude hits all-time high in May

Rediff.com8 Jun 2023

India's import of discounted crude oil from the Russian Federation hit an all-time high in May, with state-run refiner IOC becoming the biggest importer of Russian oil, relegating Reliance Industries to the second place, trade and shipping data show. Indian imports of Russian oil, accounting for over 46 per cent of its total crude oil imports in May, have grown after strong backing by New Delhi, with state-run refiners powering imports of discounted crude. Discounts on Russian oil average around $10 a barrel, said an official from a state-run refiner. IOC's May purchases rose by 64 per cent on the month, and accounted for half of its total crude imports last month, ship tracking data show.

Global Fuel Prices Lower, But Pump Rates Still High

Global Fuel Prices Lower, But Pump Rates Still High

Rediff.com8 Jun 2023

Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers

For the foreseeable future, diesel is likely to drive India's economy

For the foreseeable future, diesel is likely to drive India's economy

Rediff.com19 May 2023

India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.

India's unabated tryst with Russian crude oil is slowly coming to an end

India's unabated tryst with Russian crude oil is slowly coming to an end

Rediff.com2 May 2023

India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.

Russian Oil: India Ignores US Sanctions

Russian Oil: India Ignores US Sanctions

Rediff.com13 Apr 2023

What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.

Why Consumers Are Denied Discounts From Russian Crude

Why Consumers Are Denied Discounts From Russian Crude

Rediff.com17 Mar 2023

Officials from State-run refiners contend that savings from purchase of Russian oil are used to offset a part of the losses in revenues from selling transport fuels and LPG at State-set rates.

Russian Oil: India Beats China In February

Russian Oil: India Beats China In February

Rediff.com15 Mar 2023

India was the world's biggest importer of Russian oil in February, exceeding China by 20 million barrels.

Russian crude will keep flowing into India at least till Dec

Russian crude will keep flowing into India at least till Dec

Rediff.com14 Dec 2022

India will need to travel back in time and seek inspiration from football greats Tulsidas Balaram and Chuni Goswami to deftly dribble around and sidestep the West-imposed price cap on exports of Russian seaborne crude oil. India depends on imported oil to meet 86 per cent of its needs, of which nearly a quarter now comes from Russia. The copious flows are roughly 10 per cent cheaper than competing suppliers helping India save billions of dollars in fuel costs.

Crude shipments from US on the rise

Crude shipments from US on the rise

Rediff.com5 Dec 2022

Crude oil shipments from the US to India rose to the highest levels in November since the conflict began in Ukraine in late February, sparking hopes of a resurgence in oil flows from the US to the subcontinent, reveals shipping data. Shipments from the US have surged as Western nations prepare to impose additional sanctions on Russian crude flows. The US shipped around 450,000 barrels per day of crude last month to India, twice that of shipments in October, according to data from London-based commodity intelligence provider Vortexa.

Russia becomes India's premier oil supplier but Saudi is not losing sleep

Russia becomes India's premier oil supplier but Saudi is not losing sleep

Rediff.com1 Dec 2022

A few years ago, when top officials of Indian state-run refiners went to Dubai to negotiate a crude oil supply contract, a senior official from state-owned Saudi Aramco told them, "We can negotiate on anything, but I am the last man standing for you. "Nobody can offer the range of crudes we do with certainty," an official who was part of the negotiating team recalls. Perhaps that explains why Saudi Arabia is less concerned about losing its place as India's premier oil supplier to an upstart like Russia, which emerged from nowhere to become India's biggest crude oil supplier in September and October.

Crude calculations on a Russian oil price cap

Crude calculations on a Russian oil price cap

Rediff.com8 Nov 2022

Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.

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