To garner additional revenues during the pandemic, 22 states and Union Territories have hiked duties on petrol and diesel, while 25 states and UTs have hiked duties on alcohol. The consequent rise in petrol and diesel prices is in the range of 60 paisa to Rs 8 per litre. For alcohol, the price increase is […]
Global investment firm KKR has announced the launch of Virescent Infrastructure, a newly created platform to acquire renewable energy assets in India. Virescent currently owns 317 MW of solar assets located in Maharashtra and Tamil Nadu. KKR has also entered into definitive agreements to acquire other operating solar projects across three different states. Once closed, […]
India’s cabinet on Thursday approved a mechanism for procurement of ethanol by state-run oil marketing companies for blending with gasoline. The government has raised the price of ethanol by 5-8% to encourage more farmers to offer their crop for ethanol. The bulk of ethanol in India is made from sugarcane, though the use of other feedstock […]
Abu Dhabi National Oil Company (ADNOC), UAE’s biggest energy producer, is seeking Indian companies for partnership in its ambitious USD 45 billion downstream petrochemical expansion plans. ADNOC CEO Sultan Ahmed Al Jaber, along with global energy chief executives had a virtual session with India’s Prime Minister during the India Energy Week held earlier this week. A […]
India has taken rapid strides in nearly doubling electricity access over the past two decades, but improving the quality and reliability of services remain as key challenges, according to a joint survey called Smart Access Study. The study, which was released in conjunction with NITI Aayog and the Rockefeller Foundation, was conducted to evaluate the status of electricity […]
India has planned to raise its refining capacities from about 250 million tonnes per year (MTPA) to 400 MTPA by 2025, Prime Minister Narendra Modi told the recently held India Energy Forum The PM further indicated his preference towards moving the country towards a gas-based economy. “Increasing domestic gas production has been a key government […]
India has started a probe into the alleged dumping of low-density polyethylene (LDPE) from six countries, including Singapore and the US, following a complaint by an industry association. The Chemicals and Petrochemicals Manufacturers Association on behalf of the domestic industry has filed an application before the commerce ministry’s investigation arm DGTR for initiation of an […]
While metal and agricultural commodities have recouped their losses from the COVID-19 pandemic and are expected to make modest gains in 2021, energy prices, despite some recovery, are expected to stabilize below pre-pandemic levels next year, the World Bank said. Oil prices fell dramatically in the early stages of COVID-19 and have only partially regained […]
UK-based global energy major BP Plc said it is looking to expand its Indian presence in fuel retailing and mobility solutions. Speaking at the India Energy Forum by CERAWeek, BP Group chief executive Bernard Looney said his firm in partnership with Reliance Industries Ltd will set up 5,500 retail sites in the next 4-5 years. He also asked for […]
Coal India Ltd (CIL) is hopeful of achieving 5-7 per cent growth in production at around 640-650 million tonnes (MT) in FY21, as compared with 602.14 MT in 2019-20. CIL witnessed close to 12 per cent drop in production and around 22 per cent decline in offtake due to poor demand during the first quarter […]
