Fitch Ratings on Tuesday cut its India gas consumption outlook for the current fiscal to a growth of 5 per cent as the recent spike in domestic gas prices and high LNG rates would slow the shift to the environment-friendly fuel. The government more than doubled the price of gas from domestic fields to $ […]
A peaking summer, an industrial revival, and shortage of fuel is leading to a huge power crisis in the country. Even as the government claims it is pulling out all the stops to avoid a nation-wide power crisis, worsening of fuel stocks at thermal stations is likely to cripple electricity supplies in the weeks ahead. […]
India’s largest gas utility GAIL (India) Ltd continues to pay for the LNG it imports from Russia’s Gazprom in US dollars and will seek exchange rate neutrality in case payments are sought in any other currency such as Euro. GAIL has a deal to receive 2.5 million tonnes of liquefied natural gas (LNG) annually on a delivered […]
India and Japan have agreed to extend clean energy partnership to cover EVs, battery storage and green hydrogen as the two Asian countries follow the path of net-zero carbon emission. The India-Japan clean energy partnership statement was issued, detailing areas of cooperation, after Japanese Prime Minister Kishida Fumio met India Prime Minister Narendra Modi for […]
With international oil prices – on which domestic fuel retails are directly benchmarked – spiking in the last two months to exceed $ 1110 a barrel, state-owned fuel retailers “need a massive price hike of Rs 12.1 per litre on or before March 16, 2022, just to breakeven and a price hike of Rs 15.1 […]
India and Australia have inked a letter of intent for working together towards reducing the cost of new and renewable energy technologies and scaling up their deployment to reduce emission globally. The letter of intent (LoI) was signed at the 4th India – Australia Energy Dialogue, as per a power ministry statement. According to the […]
Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, will invest Rs 40,000 crore over next 4-5 years, including in overseas supply sources, its CEO A K Singh said. Petronet plans to make foray into the petrochemical business by investing Rs 12,500 crore in a Propane Dehydrogenation Plant that will […]
India is showing early signs of cut in demand for coal, LNG and crude owing to consistently rising high prices, says a Reuters report. There are early signs that India’s demand for coal and liquefied natural gas (LNG) is struggling, and although crude oil demand looks solid in recent months, there are important caveats at […]
The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister’s vision for a gas-based economy and raising the share of the environment-friendly fuel in India’s energy basket, said a natural gas industry body, Federation of Indian Petroleum Industry (FIPI). Natural gas is currently outside the ambit of […]
Indian Oil Corporation (IOCL) is setting up a new crude oil pipeline system with a capacity of 17.5 million tonnes per annum (mtpa) from Mundra (Gujarat) to Panipat (Haryana). A company statement said Indian Oil will also build 9 crude oil tanks of 60,000 kilo litres each at Mundra, which, apart from meeting operational requirements, will also help in enhancing crude oil storage capacity […]
