China’s total planned coal-fired power projects now stand at 226.2 gigawatts (GW), the highest in the world and more than twice the amount of new capacity on the books in India, according to data published by environmental groups this week. The projects approved by China amount to nearly 40 per cent of the world’s total […]
Shell and Exxon are among the companies picked by the Pakistani government to build five LNG import terminals as part of efforts to boost natural gas imports to deal with shortages in supply. Reuters reports that the terminals could be operational in two to three years, quoting the country’s oil and power minister, Omar Ayub Khan. With […]
Saudi Arabia has approached Baghdad with a request to buy crude oil from OPEC’s number-two to compensate for its production outage caused by the Saturday attacks, sources who declined to be named told S&P Global Platts. According to one of the sources, Aramco had asked Iraq’s State Oil Marketing Organization, or SOMO, for some 10 million barrels […]
The strikes on key Saudi oil facilities will hit India’s oil import bill and the Indian Rupee will be the immediate casualty, Singapore’s DBS Banking Group said. The coordinated strikes on Saturday, targeting Abqaiq, the site of the largest oil processing plant run by the Saudi state oil company, Aramco, and the Khurais oilfield led […]
The central Indian state of Chhattisgarh, home to the country’s third-largest coal reserves, will not build any new coal power plants, Shailendra Kumar Shukla, chairman of Chhattisgarh State Power Distribution Company, a state-owned utility, told Quartz India. This comes only days after the government in the western state of Gujarat announced it will not give […]
India’s economic growth is “much weaker” than expected, the IMF said, attributing the reasons to corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies. The International Monetary Fund (IMF) projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, […]
Investment in coal has been declining as both global mining corporations and international banks try to address the climate crisis. Rio Tinto has exited the thermal coal business—that is, coal used in power plants. Both Anglo American and BHP are said to have begun the process of divesting their thermal coal assets. Earlier this year, […]
Growth of eight core industries dropped to 2.1 per cent in July mainly due to a contraction in coal, crude oil, natural gas and refinery products, according to official data. The eight crore sector industries – coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity – had expanded by 7.3 per cent […]
State-owned power giant National Thermal Power Corporation (NTPC) announced setting up a subsidiary NTPC Mining Ltd to pave the way for its foray into commercial coal mining. The power sector behemoth also has plans to list the coal subsidiary on stock exchanges. “NTPC Ltd has incorporated a wholly owned subsidiary in the name of ‘NTPC […]
The U.S. Energy Information Administration (EIA) estimates that members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $711 billion in net oil export revenues in 2018, increased by 32 per cent from the $538 billion earned in 2017, mainly as a result of the increase in average annual crude oil prices during […]
