Nayara Energy Limited

As with China, several other proposed major projects in India are on our watch list, including Greenfield and Brownfield projects.

Two of the more probable are the Brownfield expansions of the two largest privately-owned refining complexes in western India's Gujarat state, Nayara Energy's plant in Vadhanar and Reliance's mega-complex in Jamnagar.

If when they are completed, they would add 250,000 barrels per day and 500,000 barrels per day of capacity, respectively.

We note that Reliance remains in talks to acquire a 49-plus percent interest in Nayara from Rosneft, which would make it the largest refiner in India, surpassing IOCL.

GOBP raised petrol by 5 rupees a liter and diesel by 3 rupees as the second major retailer to hike rates recently.

Nayara Energy led this trend earlier, but state-run refiners keep regular prices unchanged for now.

India imports 90% of its crude oil requirement, leaving domestic markets exposed to sustained international increases that squeeze retail margins.

Volatility drives investors toward specific opportunities within the sector.

Apparel was affected by exports, as was pharmaceuticals, said the BOB research report.

Elsewhere, India's private fuel companies Reliance Industries and Nayara Energy have begun rationing diesel and gasoline as they walk the line between rising crude prices and flat retail prices, a Bloomberg report said.

Prices at Indian pumps haven't changed since May, and oil is now, as we said, around hundred and eight dollars a barrel.

Refining companies are free to set prices technically, but government-owned oil refining and marketing companies usually change prices in consultation with the Ministry of Petroleum and Natural Gas, and the private sector takes a cue from there.

So I wanna move a little away from the US conversation.

I mentioned earlier that because of Ukrainian drone strikes on Russia's oil refineries, um, they had to start importing gasoline from India, specifically through the Nayara Energy refinery.

Um, and they dispatched over a billion barrels of petrol es- essentially sending Russian crude back.

So how significant is this reversal of roles from a South Asian geopolitical perspective?