Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, has signed an agreement with Aditya Birla Renewables Limited (ABRen) to divest its entire stake in Solenergi Power Private Limited, including the Sprng Energy group of companies, in a transaction valued at $1.8 billion.
Baker Hughes, a leading energy technology company, announced that it has secured multiple contracts from India's Oil and Natural Gas Corporation Limited (ONGC) to deliver advanced wireline services aimed at enhancing reservoir understanding, optimizing production, and supporting more efficient field development across India’s offshore and onshore oil and gas assets. The awards were finalized during the second quarter of 2026.
India has declined to receive liquefied natural gas (LNG) from Russia’s Portovaya plant in the Baltic Sea, which is subject to US sanctions, leaving a tanker bound for India in limbo as talks continue over permitted cargoes, industry sources told Reuters. The decision comes despite tightened LNG supply conditions driven by Middle East tensions.
The move underscores India’s effort to balance energy security with compliance risks, as sanctioned LNG cargoes are harder to disguise than crude shipments. One source noted the vessel had signaled India as its destination in mid‑April, though paperwork suggested the cargo was non‑Russian. Tracking data later confirmed its origin from Portovaya.
India is poised to receive its first shipment of Iranian oil in seven years, following the temporary lifting of US sanctions on Iranian crude and refined products to ease global supply pressures, according to Reuters.
India has resumed buying oil from Iran for the first time in nearly five years, as ongoing tensions in the Middle East continue to disrupt supplies, especially through the Strait of Hormuz, Reuters reported.
Iran has permitted two Indian-flagged liquefied petroleum gas (LPG) carriers to pass through the Strait of Hormuz, sources with direct knowledge said to Reuters, marking a rare exception to Tehran’s blockade that has disrupted global energy shipments.
India will continue to rely on a diversified mix of energy sources to ensure stable and affordable supplies for its consumers, Foreign Secretary Vikram Misri said, underscoring New Delhi’s focus on energy security and market-driven decisions.
US President Donald Trump has signed an executive order rescinding a 25% punitive duty on all imports from India, the White House announced on February 6. The move marks a significant de-escalation in trade tensions triggered by India’s high-volume procurement of Russian crude oil following the 2022 invasion of Ukraine.
India’s state-run Hindustan Petroleum Corp Ltd (HPCL) is seeking to import Venezuelan crude oil for the first time as it plans to increase its processing of heavier grades in the new fiscal year (FY) beginning in April, Chairman Vikas Kaushal said.
India’s state-run Bharat Petroleum Corporation Ltd (BPCL) has secured one-year crude supply deals for Iraqi and Omani grades to compensate for imports from Russia and pivots toward Middle Eastern supply as Reuters reported. The company is also seeking additional Murban crude from the UAE under a separate tender.
