Energy & Petroleum News Today

Asian naphtha refining margins dropped to their lowest in over a year due to rising crude oil prices following new EU sanctions on Russia, shrinking backwardation to 50 cents.

Asian diesel and cash differentials hit near 1.5-year highs due to positive sentiment in the West, driven by new Russian sanctions.

India relaxes sulfur emission norms for 79% of thermal power plants, citing low sulfur in domestic coal and high cost of FGD installation (₹2.54 lakh crore).

The EU plans to lower the Russian oil price cap from $60 to $45–50 per barrel, aiming to curb Moscow’s revenue. This could trigger crude price volatility and boost demand for discounted Russian oil from countries like India. Previously, Russia bypassed the cap’s impact by inflating freight and insurance costs, maintaining near-market earnings despite restrictions.

Turkmennebit sold BND 60/90 bitumen in 1 of 14 deals at Turkmenistan's commodity exchange on Thursday.

Tata Power Renewable Energy (TPREL) signed a 30 MW/120 MWh Battery Energy Storage Purchase Agreement (BESPA) with NHPC for grid integration in Kerala. The project will be commissioned within 15 months and operate for 12 years.

WattPower and First Solar hosted "Solar Connect" in Hyderabad to discuss scaling agri-solar projects under PM-KUSUM in Telangana, focusing on implementation, financing, and infrastructure challenges.

South African coal prices rose marginally due to supply disruptions and RBCT maintenance. Demand in India is weak, limiting significant price changes. RB2 (5500 NAR) at INR 7,650/tonne and RB3 (4800 NAR) at INR 6,650/t.

Petroleum dealers urged to be "energy entrepreneurs" by embracing clean energy, digital tools, and customer-centric services. Ethanol blending at 20% in 2025, saving ₹1.4 lakh crore in forex.

India's power grid faces peak demand at 3 PM and 9-11 PM due to rising AC use and industry growth. Solar power helps during the day, but coal remains crucial for the evening peak, emphasizing the need for energy storage.