State-owned ONGC offers stake in KG block to foreign companies

State-owned Oil and Natural Gas Corporation (ONGC) is offering a stake to foreign companies in its ultra-deep sea gas discovery and a high-pressure, high-temperature block in the Krishna Godavari (KG) basin as it looks for financial and technological help to bring the challenging fields to production. ONGC has floated an initial tender seeking interest of global majors […]

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Solar tariffs in India to rise 21% in the next 12 months on account module price volatility and basic customs duty: Report

Surging commodity prices and the introduction of a new duty on imported solar modules are expected to push up solar tariffs by more than one-fifth over the next year, said a new report by JMK Research and the Institute for Energy Economics and Financial Analysis (IEEFA). “The price and performance of modules are critical factors […]

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ONGC becomes first natural gas producer to trade on gas exchange, IGX

State-owned Oil and Natural Gas Corporation (ONGC) said it has become the first gas producer to trade domestic gas on the Indian Gas Exchange, trading unspecified volumes from its eastern offshore KG-DWN-98/2 block. In a statement, ONGC said it will increase volumes slowly. “ONGC has become the first exploration and production (E&P) company in India to trade […]

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At Davos WEF meet, Andhra Pradesh signs MoU with Adani Green Energy to invest Rs 60,000 crores in the state, along with other alliances

Adani Green Energy and the Andhra Pradesh government have signed a memorandum of understanding (MoU) to establish two major green energy projects in the state. The MoU with the government of Andhra Pradesh was signed by Gautam Adani in the presence of Chief Minister Jagan Mohan Reddy at the World Economic Forum in regard to […]

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Pricey critical minerals, supply chain disruption obstacles to rising EV demand – report

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Soaring prices for some critical minerals essential for battery manufacturing, as well as supply chain disruptions caused by Russia’s attack on Ukraine and by continued Covid-19 lockdowns in some parts of China, are the greatest obstacles to continued strong global electric vehicle sales, the International Energy Agency (IEA) said. Ensuring future growth will demand greater […]

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