IOC, BPCL Resume Russian Oil Buys As Discounts Widen

21 Aug 2025 CW Team

Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL) have resumed purchases of Russian crude for September and October deliveries, after discounts on the country’s flagship Urals crude widened, two company officials confirmed.

The refiners had paused imports in July due to narrowing discounts and heightened political pressure, after Washington criticised India’s Russian oil buys. Former US President Donald Trump also threatened a 25 per cent levy on Indian goods, effective 27 August, in response to New Delhi’s continued imports.

With Urals crude now available at discounts of around $3 per barrel, the economics have once again turned favourable for Indian refiners, while China has simultaneously increased purchases, the officials said.

Alongside Urals, IOC has also purchased other Russian grades, including Varandey and Siberian Light.

IOC, India’s largest refiner, told analysts earlier this week that it would continue to source Russian oil based on commercial viability. Indian refiners generally refrain from publicly commenting on crude procurement decisions.

Infrastructure Urban

03 Oct 2025

Indian REITs Association Joins Global REIT Alliance

The Indian REITs Association (IRA) has become a member of the Global REIT Alliance, a coalition representing the global Real Estate Investment Trust (REIT) sector. The alliance, launched at the European Public Real Estate Association’s 2025 ReThink conference in Stockholm, aims to promote cross-border cooperation, policy dialogue, and market standardisation for the growth of REITs as an investment asset class.The Global REIT Alliance, which includes members from 24 countries, focuses on promoting global awareness of securitised real estate, supporting sustainable investment, providing indust..

Vande Bharat May Soon Connect Chennai and Rameswaram

Southern Railway plans to introduce a Vande Bharat Express between Chennai and Rameswaram following the completion of electrification on the 53-km Ramanathapuram–Rameswaram section.A proposal has been submitted to the Railway Board to operate the new daytime service from either Chennai Egmore or Tambaram, aiming to ease congestion on existing overnight trains along the 600–660 km route.Officials noted that while the section is cleared for electric locomotives, a 220-metre gap near Uchipuli will undergo trials before the Vande Bharat is introduced. The final route will consider travel time,..

RITES Partners with Etihad Rail to Boost Infrastructure Collaboration

RITES, a leading transport infrastructure consultancy and engineering firm, has signed a Memorandum of Understanding (MoU) with UAE-based Etihad Rail to enhance business collaboration with its subsidiary, National Infrastructure Construction Company (NICC).The partnership aims to combine RITES’ five decades of expertise in consultancy, transport infrastructure, and engineering with NICC’s execution capabilities, creating synergies for infrastructure projects across the UAE and other regions.The MoU was signed by HE Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Di..