Reliance Eyes Diversifying Oil Amid EU Sanctions
India’s Reliance Industries Ltd. is facing fresh scrutiny over its oil procurement strategy following new European Union restrictions on diesel produced from Russian crude. The private refiner, owned by billionaire Mukesh Ambani, made a rare purchase of Abu Dhabi’s premium Murban crude late last week, just after the EU’s latest sanctions package was announced. Traders noted that Reliance typically avoids the costlier UAE grade, favouring discounted Russian Urals and heavier Middle Eastern varieties.According to sources familiar with the matter, Reliance has begun exploring alternative cr..
Nayara Skips Naphtha Tender After EU Sanctions
Russia-backed Indian refiner Nayara Energy, recently sanctioned by the European Union, has withheld awarding a spot naphtha export tender after altering its payment terms, according to three trade sources on Wednesday.This marks the first time the private refiner has not awarded a tender since the European bloc introduced its 18th sanctions package last week, which named Nayara Energy—part-owned by Russia’s Rosneft. The company, which operates a 400,000 barrels-per-day refinery in Gujarat, had changed its terms, seeking either advance payment or a letter of credit for the sale of a 33,000â..
DMR, Fichtner to Draft DPR for 1,950 MW Aruna PSP
DMR Hydroengineering & Infrastructures, in collaboration with Germany-based Fichtner, has secured the consultancy contract to prepare the Detailed Project Report (DPR) for the Aruna Pumped Storage Project (PSP) in Maharashtra. The contract, awarded by THDC India, envisions a capacity of 1,950 MW and is expected to play a key role in supporting Maharashtra’s renewable energy ambitions.The total consultancy assignment is valued at Rs 88 million and must be completed within 13.5 months from the date of award. DMR Hydroengineering is leading the project, while Fichtner contributes its global..
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