“OPEC+ should realise that this is not the right approach, they must step up production. If the demand is going up and you are not increasing production, you are trying to create a gap,” oil secretary Tarun Kapoor said. India is forming a group that brings together state-run and private refiners to seek better crude […]Continue Reading... No Comments.
India’s quest for building its energy security may see it continue to pursue investment opportunity in Farzad-B gas field in Iran even though ONGC Videsh Ltd (OVL) has not got the right to develop the block that it discovered over a decade ago. Highly-placed sources in the Oil Ministry said that the Indian consortium, including […]Continue Reading... No Comments.
India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world’s third largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of […]Continue Reading... No Comments.
As India builds more gas-fired power plants and infrastructure to supply natural gas, this investment must not be allowed to crowd out investment in greener technologies such as renewables, green hydrogen and storage capacity, experts tell IndiaSpend. Natural gas, though less polluting than coal, is not as clean as renewables. Experts say over-capacity in the […]Continue Reading... No Comments.
As the global recovery gains strength, the price of crude oil is nearing its highest level since 2018, while the price of natural gas and coal are hitting record highs amid an intensifying energy shortage. We examine the key causes behind soaring fuel prices and their impact on India Why are fuel prices rising? The […]Continue Reading... No Comments.
India’s new liberalised petrol pump licensing norms allow setting up of EV charging stations and CNG outlets even before the start of petrol and diesel sales, the government has stated. The Ministry of Petroleum and Natural Gas in a clarification to its November 8, 2019 order that eased norms for setting up of petrol pumps […]Continue Reading... No Comments.
At a time when leading Indian companies like Reliance Industries Ltd and Adani Group are betting big on renewables with a special focus on hydrogen production, Indian government-owned National Thermal Power Corporation (NTPC) in association with Gujarat Gas is also planning an ambitious project to blend hydrogen with piped natural gas (PNG). To begin with, […]Continue Reading... No Comments.
Credit rating agency Moody’s has increased its medium-term oil price range to $50-$70 per barrel — the range it had before the coronavirus pandemic — to reflect the expectation that the full average cost of production of a marginal barrel of oil will keep increasing in step with a continued recovery in demand. The US […]Continue Reading... No Comments.
Union minister Nitin Gadkari on Sunday stressed the need to enhance the production of biofuel in the country by using the stubble of certain crops to reduce the dependence on the import of crude oil and fuel gases and said he had converted his tractor into a CNG vehicle. Gadkari virtually addressed the International Soy […]Continue Reading... No Comments.
A Scottish court handed BP a win over Greenpeace on Thursday after the environmental group tried to void the energy company’s licence to exploit a North Sea oilfield, saying the climate impact of the end-use of oil should not affect permits. Greenpeace had said the emissions from the ultimate consumption of the oil – rather […]Continue Reading... No Comments.