BUSINESS
CGD companies to be hit as govt cuts cheaper gas allocation for CNG by 20%
State-run Indraprastha Gas Limited (IGL) and Mahanagar Gas Limited (MGL) said that the reduction in APM gas allocation would have an “adverse impact” on their profitability.
BUSINESS
US approval for OVL lead operatorship request in Venezuelan oil projects expected after Nov election: Sources
State-run explorer Oil and Natural Gas Corporation’s overseas arm had sought a special licence from the Office of Foreign Assets Control of the US Department of Treasury to operate two oil projects in Venezuela.
BUSINESS
Govt notifies greenwashing guidelines to prohibit companies from engaging in misleading environmental claims
The government said it does not seek to prohibit companies from making environmental claims, rather they aim to ensure that such claims are made with integrity and transparency.
BUSINESS
Exclusive: Saudi Arabia in talks with BPCL to invest in new refinery, part of $100-bn investment plan
In 2019, Saudi Arabia pledged to invest $100 billion in India in sectors such as energy, refining, and petrochemicals.
BUSINESS
Oil market can handle China demand if Iran oilfields are attacked, say experts
Oil minister Hardeep Singh Puri said India is not worried about supply disruptions if the war escalates in West Asia as there is enough spare capacity in the global market.
BUSINESS
Energy availability to be impacted if Middle-East war escalates; India to navigate situation: Hardeep Singh Puri
Crude oil prices have surged due to concerns that Israel may target Iran's oil infrastructure, with benchmark Brent crude now trading around $78-$79 per barrel, up from around $70 last week.
BUSINESS
India ramps up oil imports from Saudi, Iraq as domestic demand rises
Imports from Iraq and Saudi rose 16 percent and 37 percent, respectively, in September. Russia, however, remained the top supplier of crude oil to India, supplying 1.79 million bpd, accounting for 38 percent of total oil imports
BUSINESS
Crude rally ‘knee-jerk’ reaction of Iran missile attack on Israel, prices to stabilise if war doesn't escalate: Experts
The sharp jump in crude oil prices is expected to be short-lived and subside eventually if the war does not spread widely in the Middle-East, according to energy experts.
BUSINESS
SATAT scheme: Govt steps up efforts to increase compressed biogas adoption in India
The government intends to use biomass, widely and cheaply available in India, as a fuel to reduce dependency on imported natural gas.
BUSINESS
No major impact expected on crude prices of Middle East war escalation, say experts
Global oil prices have been highly volatile this year, breaching $90 per barrel in April due to geopolitical tensions in the Middle East, before plummeting to around $70- 72 a barrel currently due to demand concerns from China.
BUSINESS
Crude price volatility: Experts warn against fuel price cuts this election season
With the upcoming elections in key states of Maharashtra and Haryana, and crude at a record-low levels, OMCs could be prodded into a price cut.
BUSINESS
Numaligarh Refinery delivers new diesel order to Bangladesh, says no dues of previous orders left
NRL, a subsidiary of state-owned Oil India Limited (OIL), has exported 8 TMT of diesel this month. Payment for 4 TMT has been received and the balance is expected in the next 30 days.
BUSINESS
States put best foot forward in 500 GW of renewable energy capacity goal by 2030
India aims to achieve 292 GW of solar power, 100 GW of wind power, 15 GW of bio energy, 78 GW of hydro and 15 GW of nuclear power to meet its 2030 target.
BUSINESS
Proposed govt norms for solar cells will boost domestic manufacturing: Waaree Energies CEO Paithankar
CEO Amit Paithankar advocated launching ALMM for solar cells at the earliest, saying similar to solar modules, it would help in developing cell manufacturing ecosystem in the country. Approved List of Models and Manufacturers (ALMM), which is currently limited to solar modules, is a list of models and manufacturers of solar photovoltaic (PV) modules approved by the Ministry of New and Renewable Energy (MNRE).
BUSINESS
States-Centre cooperation key to achieve 500GW installed RE capacity goal by 2030, says ReNew’s Sumant Sinha
To meet India’s ambitious target of 50 percent of electric power capacity from renewable energy sources, state governments on September 16 submitted Shapat Patras or pledges to the Union government for achieving respective renewable energy capacity additions.
BUSINESS
Crude oil volatile for OMCs to take decision on fuel price cut: Oil ministry source
At home, retail fuel prices are determined by the state-run OMCs based on international oil prices as India is dependent on imports for around 87 percent of its crude requirements.
BUSINESS
State-run OMCs' term-deal for Russian crude oil supplies expected next year: Source
India’s oil refiners Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have been negotiating a combined long-term deal with Moscow for supply of crude oil
BUSINESS
Tata Power chief sees boost for Indian solar industry from govt initiatives
The global glut amid rising solar manufacturing capacity would not impact the company’s business as the government, plans to bring out an ALMM for solar cells, as in the case of solar modules.
BUSINESS
IREDA expects govt's approval for stake reduction in few days, says CMD
IREDA plans to raise funds to the tune Rs 4,500 crore to Rs 5,000 crore by March 2025
BUSINESS
Renewable Energy Minister Pralhad Joshi shows confidence in states’ commitment for adding RE capacity; cites 'need of time'
State governments pledged to the Ministry of New and Renewable Energy (MNRE) for adding a total of 540 gigawatts (GW) of renewable energy capacity by 2030, said Minister Pralhad Joshi
BUSINESS
States, industry commit RE capacity addition targets; Gujarat leads by pledging 128 GW capacity addition
Banks and financial institutions have committed to additional $386 billion, or Rs 32.45 lakh crore, of financing by 2030 for the development of the projects, said new and renewable energy minister Pralhad Joshi inaugurating RE-Invest in Gandhinagar.
INDIA
No disruption in diesel export to Bangladesh: Oil India Chairman
Assam-based refinery NRL supplies diesel to the country through a pipeline connecting its Siliguri marketing terminal with Parbatiput in Bangladesh.
BUSINESS
HPCL approves construction of pipeline from Visakh refinery; appoints new CFO
The company also appointed K Vinod as the Chief Financial Officer (CFO) with effect from September 11. Vinod has held senior positions at HPCL and handled various areas of finance including refinery finance, corporate strategy & planning, among others.
BUSINESS
Falling crude oil prices: OMCs may wait for a few weeks before deciding on fuel price cut: Experts
The benchmark Brent has been trading below $75 per barrel in September and closed at $71.45 a barrel on September 9 amid weakening global demand and signs of oversupply in the market.
