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The Times of India
The Times of India
Business
Bloomberg

Gautam Adani, Mukesh Ambani reap windfall from surging oil, coal

Gautam Adani Mukesh Ambani Oil Coal Reliance United States India Adani Enterprises Asia New Delhi

NEW DELHI: Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push their pivots toward greener energy.

With coal prices skyrocketing to a record, Adani’s conglomerate is expanding a controversial mine in Australia to meet demand.

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