The Strategic Energy Partnership between New Delhi and Washington has emerged as one of the most important components of the larger strategic convergence between the two countries. This engagement is helping India balance the imperatives of development with the need to protect the environment.
The development comes at a time when Pakistan faces a challenging situation as its IMF programme also remains technically suspended.
From increasing strategic petroleum storage to better refinery utilisation, India’s ability to swiftly adapt to sudden global challenges have largely helped the energy industry navigate safely despite the devastating impact of Covid-19.
India’s need for ramping up its energy security is rising in line with its growing dependence on imported crude oil. This has meant that besides building out strategic petroleum reserves at home, the country is looking abroad to secure upstream energy assets, which can be a bonanza for international investors.
China has not been transparent about its handling of COVID-19, and now is clandestinely profiteering while the rest of the world struggles to cope. This is not the sort of responsible behaviour we expect of a world power, writes India Inc. Group Founder and CEO Manoj Ladwa. Highlights: As the world moves from denial to survival, there is no doubt that China has a lot to answer for. While other countries struggle to cope with the pandemic, China has been [...]
The crash in global oil prices will bring some immediate relief for India but could presage trouble if it persists beyond the immediate term. Highlights: While the falling oil prices are helping India’s fiscal deficit and current account deficit figures, a long-term decline might hurt the country’s economy. If crude prices remain low for long, several companies in the US could face bankruptcy, which could snowball into a global recession and cause a decline in the value of the Indian [...]
An Oil & Gas expert analyses how the US's strike on Iranian general Qasem Soleimani will affect India's oil sector. Highlights: The US Drone strike on a serving Iranian general led to a surge of global oil prices and growing tension between the two countries. No confirmation on US-China trade deal and no direct attacks on the oil production and processing facility from Iran since then have cooled the oil prices. India has started importing more crude from Iraq and [...]
Indian External Affairs Minister Sushma Swaraj’s recent four-day visit to Kuwait and Qatar was aimed at strengthening bilateral ties and bolstering supplies. The decision by the Trump administration in the US to unilaterally exit from the Iran nuclear deal of 2015 earlier this year is forcing India to look at other alternatives — old and new, to fill in for Iran. India imported 22.6 million tonnes of crude from Iran in 2017-18, which was its third biggest supplier of oil [...]
As the Donald Trump administration’s deadline for Iran sanctions beckons, India must find alternatives for its crude oil needs fast. In the last few months, there have been hectic parleys in the diplomatic channels between India and Saudi Arabia. The topic is an obvious one — crude oil. The decision by the Trump administration in the US to unilaterally withdraw from the Iran nuclear deal of 2015 in May earlier this year and re-impose sanctions on Tehran, and any country [...]