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One month after being hit by European Union sanctions, India’s Nayara Energy Ltd. is relying on a growing pool of dark-fleet tankers to transport its products, and a narrowing menu of crude imports to keep its operations running.The oil refiner’s struggle for survival has come to the attention of India’s government, which is concerned about disruptions to oil flows that could jeopardize national energy security, according to people familiar with the matter. New Delhi has approved at least one coastal tanker in recent days to help the company move cargoes domestically, they said. The refiner, part-owned by Russian oil major…

Microplastics are increasingly being found in our bodies and food supply. They are defined as pieces of plastic smaller than 5 millimeters — about the size of a pencil eraser. But they can also be much smaller, like the size of a virus particle or a strand of DNA.Petrochemicals, the building blocks of plastic, are produced from oil and gas. The business is a small but profitable area of the fossil fuel industry, and any push back on the use of plastics is seen as a threat to the oil and gas industry.”Where the industry is most vulnerable is on the…

Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.Oil and gas companies in the UK’s North Sea are no longer earning “windfall” profits and their tax rates should be revised with crude prices now almost half of their 2022 peak, one of the largest operators has said. Companies are paying a 38 per cent “energy profits levy” (EPL) that was introduced as oil prices surged to $128 a barrel in the wake of Russia’s invasion of Ukraine three years ago. It is due to run until 2030 and…

Russia expects India to continue buying its oil, a senior official said, even as the South Asian nation faces higher US tariffs and harsh criticism from Trump administration officials for the trade.India’s imports of Russian crude are likely to stay at current levels, Evgeny Griva, the deputy trade representative of Russia in India, told reporters in New Delhi on Wednesday.The remarks come amid rising tariff tensions between the US and India. President Donald Trump has imposed a 25% tariff on Indian goods and threatened to double it to 50% on Aug. 27 — a rate that would make India’s $85…

The U.S. Energy Information Administration (EIA) increased its U.S. crude oil production forecast for 2025 in its latest short term energy outlook (STEO), which was released on August 12. In this STEO, the EIA projected that U.S. crude oil output, including lease condensate, will average 13.41 million barrels per day in 2025. In its previous STEO, which was released in July, the EIA projected that the country’s crude oil output, including lease condensate, would average 13.37 million barrels per day this year. A quarterly breakdown included in the EIA’s latest STEO showed that the EIA sees U.S. crude oil production…

Shortly after the Norwegian Association of Car Importers (BIL) founded the company Autoretur Battery Recycling (ABR) to collect and recycle old EV batteries, it announced a cooperation with the Swedish importers’ association Mobility Sweden on battery recycling. To meet the upcoming requirements of the new EU Battery Regulation, Mobility Sweden and the Norwegian Bilimportørenes Landsforening have entered into a strategic partnership. Through their subsidiaries FoRetur (Sweden) and Autoretur Battery Recycling (Norway), they aim to establish an efficient, coordinated take-back system for EV batteries that is adapted to future requirements. Parallel tenders for processing companies in Norway and Sweden are due…

Chile’s SQM , the world’s second-largest lithium producer, reported a 59% decline in quarterly profit on Wednesday due to lower lithium prices.The company posted a second-quarter net profit of $88.4 million, missing analysts’ estimates of $143.01 million, according to data compiled by LSEG.Its revenue of $1.04 billion in the quarter was broadly in line with the analysts’ estimates of $1.064 billion.Lithium prices were down about 34% year-on-year, the company said.Global prices for lithium, a critical component of electric vehicle batteries, have plunged nearly 90% since their peak in late 2022, causing producers worldwide to slash workforces…

Willms Touristik has converted 18 MAN double-deckers, built between 1988 and 2019, from diesel to electric drive. Since this spring, the modernised ‘CityTour’ buses have been in service in Cologne and other German cities. Buying an entirely new fleet of electric buses would not have been financially viable for the company. The retrofitted fleet covers six MAN chassis-based models, from 37-year-old MAN SD202 (1988–1990) to Euro 6 buses from 2016–2019. Danish specialist Banke ApS handled the conversion in coordination with DGS Diesel- und Getriebeservice, Allison Transmission’s general representative in Germany. The vehicles were completely stripped of their diesel drivetrain before…

A new wave of flippable and foldable phones is shaking up the US smartphone market, long dominated by Apple’s iPhone.The iPhone remains king, but flip phones are spurring innovation and gaining momentum with consumers.”There is quite a bit of buzz around this,” Forrester analyst Dipanjan Chatterjee told Business Insider. Still, he said foldables remain niche, representing 1% to 2% of the smartphone market.Companies including Samsung, Motorola, and Google have ventured into foldable or flippable smartphones — Samsung with the Galaxy Z Fold and Galaxy Z Flip, Motorola with its Razr flip phones, and Google with its Pixel Fold models.In July,…

Despite continued pressure from the United States over crude supply from Russia, Indian state refiners have returned to the spot market for purchases of Russian oil, company officials familiar with the matter told Reuters on Wednesday, as discounts for Moscow’s crude grades deepened.Indian Oil Corporation Limited (IndianOil) and Bharat Petroleum Corporation Ltd (BPCL) have bought Russian Urals and other crudes for September and October delivery, as the discounts for Urals widened to $3 per barrel, the officials said.   A few weeks ago, the biggest Indian state-owned refiners, including IndianOil and BPCL, pulled out of spot purchases of Russian crude for…