03-Jun-2024

Power

REC Ltd appoints Harsh Baweja as Additional Director , CFO of Board

New Delhi : REC Ltd has confirmed the appointment of Shri Harsh Baweja as Director (Finance), Additional Director, and Chief Financial Officer of the company with effect from May 14, 2024. : psuconnect.in

NTPC’s Talcher Power Project bags International Safety Award

New Delhi : NTPC Talcher Thermal Power Project has been awarded the prestigious International British Safety Council Award 2024. NTPC Talcher Thermal Power Project’s AGM (Safety) Sanjay Kumar Gupta received this esteemed award from British Safety Council’s Chief Executive Mike Robinson. : psuconnect.in

REC may sanction up to ?1.75 trillion for coal-fired power projects by 2032

New Delhi : State-run REC Ltd may disburse up to ?1.75 trillion loans for coal-fired power plants by 2032, as India looks to bolster its thermal power generation by adding 80 gigawatts (GW) capacity by then. : Mint

Coal stocks at thermal plants continue to be more than 45 MT amid peak power demand

New Delhi : Coal stocks at thermal plants continue to be more than 45 MT amid peak power demand. : Economic Times

Frequent power cuts still a trouble for Rajasthan govt amid scorching heat

Jaipur : Amid the scorching heat, with temperatures soaring between 47 and 50 degrees Celsius, irregular electricity supply has added fuel to the fire, aggravating problems for people, farmers, and the industrial sector. : Business Standard

SECI Invites Bids for 500 MW Wind Projects

New Delhi : SECI Invites Bids for 500 MW Wind Projects. : mercomindia.com

CERC Raises Block Bid Size to 100 MW for Power Generators in Exhcanges

New Delhi : CERC Raises Block Bid Size to 100 MW for Power Generators in Exhcanges. : mercomindia.com

NHPC Invites Bids for 1.2 GW ISTS-Connedted Solar Power Projects

New Delhi : NHPC Invites Bids for 1.2 GW ISTS-Connedted Solar Power Projects. : mercomindia.com

India’s power usage rises 15% to 156.31 bn units in May due to extreme heat

New Delhi : India’s power consumption rose nearly 15 per cent to 156.31 billion units (BU) in May as compared to the year-ago period, mainly due to scorching heat in the country which forced excessive use of cooling appliances like air conditioners and desert coolers. : Business Standard

Surge of free power raise red flags for green technology investors

New Delhi : Solar parks on Spanish plains and wind turbines above Norwegian fjords were so productive in May that a record share of clean electricity flooded the grid. At times, supply vastly exceeded demand, and producers needed to do something with all that energy. : Business Standard

Telangana Regulator Directs DISCOM to Settle Solar Developer’s Unpaid Bills

New Delhi : Telangana Regulator Directs DISCOM to Settle Solar Developer’s Unpaid Bills. : mercomindia.com

SJVN Records Total Income of Rs.5.7 Billion in Q4 2024, Down 2% YoY

New Delhi : SJVN Records Total Income of Rs.5.7 Billion in Q4 2024, Down 2% YoY. : mercomindia.com

State’s peak power demand grew by 66% in 9 years

Ahmedabad : Gujarat registered a peak power demand of 25,088MW on May 23, which means that the state’s peak power demand has risen by about 66% since 2015-16. In 2015-16, the state’s peak power demand was 14,982MW. : Times of India

Coal stocks sufficient to meet for 19 days needs

New Delhi : Despite high power demand across the country, coal stocks are sufficient to meet requirements for 19 days. According to the data from the Ministry of Coal, coal stocks at thermal power plants remain above 45 million tonne (MT), a 30% increase compared to last year. : New Indian Express

Oil and Gas

ONGC cuts offshore helicopter sorties during monsoon to avoid accidents

New Delhi : India’s top oil and gas producer ONGC has slashed helicopter sorties to its installations in the middle of sea on both east and west coast for three months to avoid any repeat of deadly accidents during monsoon that have plagued the firm’s otherwise impeccable record, sources said. : Economic Times

OPEC+ extends oil cuts to third quarter, discusses 2025, sources say

New Delhi : OPEC+ agreed on Sunday to prolong its deep oil output cuts in 2024 and was discussing extending them into 2025, OPEC+ sources said as the group seeks to shore up the market amid tepid global demand growth, high interest rates and rising rival U.S. production. : Economic Times

Government slashes domestic natural gas prices amid major pricing overhaul

New Delhi : The Ministry of Oil revealed that the price of domestic natural gas has been reduced to USD 8.44 per million metric British thermal units (mmBtu) for June 2024, down from USD 8.90 in the previous month. : Economic Times

BackBack OPEC Extends Cuts But Lays Out Plan to Bring Barrels Back

New Delhi : OPEC extended its production cuts as it seeks to bolster a fragile market, but also set a date to begin bringing some oil back online later this year. : Mint

India has significant potential for making sustainable aviation fuel: IATA

New Delhi : India has significant potential for producing Sustainable Aviation Fuel (SAF), which can help reduce carbon emissions, global airlines’ grouping IATA said on Sunday amid rising air travel. : Business Standard

PRICES OF COMMERCIAL LPG DROP BY RS 69.50 IN DELHI

New Delhi : The prices of commercial LPG dropped today by 69 rupees 50 paise in Delhi. The Indian Oil Corporation Limited (IOCL) announced that the retail price of a commercial LPG gas cylinder is now 1 thousand 676 rupees in Delhi. : globalgreenews.com

Domestic natural gas prices reduced to ?8.44/mmBtu for June

New Delhi : The prices of domestic natural gas has been reduced to USD 8.44 per million metric British thermal units (mmBtu) for June 2024 from USD 8.90 in the previous month, the oil ministry said in a notification. : Business Line

India heat wave drives up gas-based power generation and LNG demand

New Delhi : India’s natural gas-based power generation has surged in May due to intense heat wave conditions, significantly boosting the demand for more LNG cargoes for prompt deliveries in June from state-owned energy companies, according to S&P Global Commodity Insights. : theprint.in

US oil producers maintain modest growth as OPEC+ eyes extended cuts

New Delhi : U.S. oil drillers are sticking to pledges to temper spending on boosting output, keeping the world’s top crude producer on course for slower growth in 2024 in what may ease pressure on OPEC+ to make further supply cuts this weekend. : Reuters

No change in petrol and diesel prices, commercial LPG cheaper by Rs 69

New Delhi : Global oil prices have seen a fair bit of correction and as a result the price of commercial LPG, which is used by hotels and restaurants, was lowered by Rs 69 per 19-kg cylinder on Saturday, June 1 for the third month in a row. : Financial Express

Regulator now says city gas networks not common carriers

New Delhi : The Petroleum and Natural Gas Regulatory Board (PNGRB) has withdrawn notices to declare city gas networks in 54 licensed areas as common carriers, which would help end a legal tussle between the regulator and the affected city gas distributors. : Economic Times

Commercial LPG prices slashed by Rs 69.50 after a Rs 19 cut in May; ATF prices revised down 6.5%

New Delhi : India’s state-run oil marketing companies on Saturday cut prices of commercial LPG gas cylinders by around Rs 70, providing relief to businesses and enterprises. : Economic Times

OPEC+ agrees to extend production cuts in bid to boost oil prices

New Delhi : OPEC+ agrees to extend production cuts in bid to boost oil prices. : Mint

OPEC+ extends oil output cuts to 3rd qtr in bid to support prices: Report

New Delhi : OPEC+ agreed on Sunday to extend most of its deep oil output cuts for 2024 but to start phasing them out in 2025, as the group seeks to shore up the market amid tepid global demand growth, high interest rates and rising rival U.S. production. : Business Standard

For Cheapest CNG In Uttar Pradesh, Take The Delhi-Meerut Expressway

New Delhi : CNG vehicle owners in Uttar Pradesh have a reason to cheer, especially those who use Compressed Natural Gas (CNG) for their vehicles. Indraprastha Gas Limited (IGL) has launched two new CNG pumps at the Hawa Hawai Rest Point on the Delhi-Meerut Expressway (DME), offering the cheapest CNG in the state at just Rs 78 per kg. : indianpsu.com

Government Slashes Domestic Natural Gas Prices Amid Major Pricing Overhaul

Saudi Arabia invites OPEC+ ministers to Riyadh for June 2 meeting, sources say

New Delhi : Saudi Arabia has invited OPEC+ oil ministers to Riyadh to hold their June 2 policy meeting to discuss a complex deal that may extend deep oil production cuts into 2025, sources from the producer group told Reuters on Friday. : Reuters