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Saudi regains share in India's crude imports
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New Delhi: Saudi Arabia is set to regain share in India's crude imports in July after its share nearly halved in May and June, although Russia is expected to remain the country's largest supplier, according to estimates from energy cargo tracker Kpler.Saudi Arabia is expected to supply 464,000 barrels per day (bpd) to India in July, based on arrivals in the first half of the month and tanker-tracking data. Between July 2025 and April 2026, the kingdom supplied an average of 700,000 bpd, accounting for about 14.5% of India's crude imports. After its share slipped to an average 7% in May-June, Saudi Arabia is set to recover to about 10% in July.Imports from Iraq, Kuwait and Qatar, whose crude exports rely entirely on transit through the Strait of Hormuz, remain negligible. Supplies from these countries are unlikely to pick up in the second half of July as shipping through the Strait has again been disrupted following the resumption of the US-Iran conflict.India's overall ...
Indian cos push for a smarter way to use LPG
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New Delhi: India's oil marketing companies (OMCs) are stepping up efforts to encourage a shift among their 4 million daily commercial and industrial LPG cylinder users to cylinders that dispense fuel in liquid form instead of gas. While liquid off-take (LOT) cylinders have been part of OMCs' product portfolios for nearly two decades, customers have largely continued using conventional vapour off-take (VOT) cylinders. A senior OMC official said the companies are now prioritising the supply of LOT cylinders to commercial and industrial customers. The LOT systems, industry executives said, leave virtually no residual gas unlike VOT cylinders, offering better efficiency and significant cost savings at a time when geopolitical risks are raising supply concerns.132447360Pune Gas Systems, a 40-year-old OMC-empanelled LPG solutions provider, recently wrote to petroleum and natural gas minister Hardeep Singh Puri, saying that shifting industrial and commercial users from VOT to LOT cyli...
Ather raises Rs 1,200 cr, launches Rs 1,500 cr QIP
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Electric scooter maker Ather Energy’s board on Wednesday approved a Rs 1,200-crore raise from existing investors Hero MotoCorp, the India-Japan Fund, and founders Tarun Mehta and Swapnil Jain. The investment is part of a broader Rs 2,700-crore financing plan, which includes a Rs 1,500-crore qualified institutional placement (QIP), as per regulatory filings. The board approved the QIP floor price.Next phase of expansionThis was set at Rs 1,169.70 per share, about 10% lower than Wednesday’s closing price of Rs 1,298.As part of the preferential allotment, the India-Japan Fund (IJF)—a bilateral investment vehicle managed by state-owned National Investment and Infrastructure Fund (NIIF)—will invest Rs 200 crore in equity, Ather said in a regulatory filing.132424603Hero MotoCorp, Ather's promoter, will infuse Rs 960 crore, while Mehta and Jain, who are also promoters, will inject Rs 20 crore each. Hero and the founders will subscribe through convertible warrants.Launched in 2023, the Rs ...