Coal India has invited bids from developers for setting up a 100 MW solar power plant in Solar Power Developer and Operator mode in Chhattisgarh. It will cater to the green energy requirement of Coal India subsidiary of South Eastern Coalfields which consumes around 850 million units of power annually. This is part of Coal […]
Iran has claimed to have discovered a new oilfield in the southwest of the country that has the potential to boost its reserves by about a third, President Hassan Rouhani said to Reuters. “Workers and the exploration arm of the National Iranian Oil Company…have found an oilfield with 53 billion barrels of reserves,” Rouhani said […]
The current round of coal block auction for the non-regulated sector is likely to fetch four states about Rs 43,000 crore over the life of the mines from the extractable reserves, analysts said, as reported in the Economic Times. This, however, assumes that the entire extractable reserve of the six blocks auctioned under the current […]
Africa is set to become increasingly influential in shaping global energy trends over the next two decades as it undergoes the largest process of urbanisation the world has ever seen, according to a new report from the International Energy Agency. Africa Energy Outlook 2019, a special in-depth study published today, finds that current policy and […]
India’s Hero Future Energies (HFE), Hero Group’s renewable subsidiary run by Rahul Munjal, has received $150 million strategic funding from Abu Dhabi Future Energy Company Masdar, reports Ritwik Sinha. Set up in 2012, HFE had earlier raised $125 million from International Finance Corporation (IFC), part of the World Bank. Masdar has now stepped in by […]
India’s sputtering economy is turning the energy-hungry nation into an unlikely source of diesel exports, reports Bloomberg. The industrial fuel is the lifeblood of Indian manufacturing, transport and agriculture, making it the country’s most-consumed petroleum product. But five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since […]
The government will now prioritise getting contracts for coking coal imports at competitive prices instead of trying to buy coal mines, as it was planning earlier. “The plan is to not acquire assets but only freeze orders in advance to get coal at competitive prices,” said Union Coal Minister Pralhad Joshi to Business Standard, on […]
OPEC admitted that demand for its oil over the next few years could be drastically weaker than it previously thought, due to a combination of a weakening economy, rising supply elsewhere, and pressure from climate activists. In its World Oil Outlook, OPEC said that demand for its oil may only reach 32.8 million barrels per […]
Egypt is expanding its solar and wind power generation rapidly. Part of the government’s plans to diversify the energy mix by rapidly expanding the country’s renewable energy capacity, Egypt has set targets to increase its renewable energy capacity to 20 per cent by 2022 and to 42 per cent by 2035. Daily sunshine levels range between […]
If global oil demand growth continues to languish with uncertainties around the global economy and Brexit, the oil market will likely have to cope with another oversupply next year, according to the International Energy Agency (IEA). “Unless other things change, we will see a surplus probably, unless there is very strong demand growth recovery,” Keisuke […]
