MEDIA UPDATE (JUNE 23, 2022)

Sarkaritel
By Sarkaritel June 23, 2022 07:37


23-Jun-2022

Power

PFC, REC working on loans for state power discoms

New Delhi : Power sector financiers Power Finance Corp (PFC) and REC Ltd NSE -0.47 % are working on loans for state electricity distribution companies to help them pay their electricity dues. : Economic Times

Coal-based electricity generation backbone of India’s power sector: NTPC chief

New Delhi : Amid the reports of coal shortage and power outages in the country, state-run power giant NTPC’s Chairman and Managing Director Gurdeep Singh on 22 June said that coal-based electricity generation is the backbone of power supply and is going to stay this way for the next two-three decades. : Mint

GMR Power and Urban Infra acquires 100 pc stake in GMR Green Energy

New Delhi : GMR Power and Urban Infra on Wednesday said it has acquired 100 per cent stake in GMR Green Energy Private Ltd from GMR Solar Energy Private Ltd. GMR Green Energy was incorporated in 2022 with the objective to pursue opportunities in the green energy business. It is yet to commence commercial operations. : Economic Times

Jio-bp to power Nexus Malls EV journey

New Delhi : Nexus Malls has partnered with Jio-bp, a fuel and mobility joint venture between Reliance Industries Ltd and bp, for the rollout of EV charging stations and battery swapping stations across its portfolio of 17 malls in 13 cities. : Economic Times

No purchase of coal from Russia after April 20: Tata Steel

New Delhi : Tata Steel has not made any purchase of PCI coal from Russia post its April announcement of severing business ties with Russia amid the ongoing conflict with Ukraine, a company spokesperson said on Wednesday. : Economic Times

S.Korean Prez pledges to rebuild nuclear power industry

Seoul : South Korea’s President Yoon Suk-yeol pledged on Wednesday to rebuild the nuclear power industry and support its expansion overseas, underscoring his commitment to reversing the nuclear phase-out policy of the previous administration. : Economic Times

Kalpataru Power Transmission bags orders worth Rs 2,290 crore

New Delhi : Kalpataru Power Transmission Ltd and its arms have bagged new orders worth Rs 2,290 crore. Kalpataru Power Transmission Limited (KPTL), a leading global EPC (engineering, procurement and construction) player in the power and infrastructure contracting sector, and its subsidiaries have secured new orders/notification of awards of Rs 2,290 crore at a consolidated level, a company statement said. : Economic Times

NASA picks 3 firms to design nuclear power plants for Moon

Washington : The US space agency NASA has picked three design concept proposals for a nuclear fission surface power system design that could be ready to launch by the end of the decade for a demonstration on the Moon. : Economic Times

Govt gives push to solar, wind energy projects across Maharashtra

Mumbai : With no new thermal generation units coming up across Maharashtra, there is a huge push for multiple solar and wind projects, officials from the state energy department said on Tuesday. : Economic Times

OPINION: China’s lockdowns and heavy rains ease coal shortage: Kemp

London : China’s electricity generation experienced rare declines in April and May compared with the same months a year earlier as lockdowns imposed to stop the spread of the coronavirus curbed consumption. : Economic Times

Power consumption at records in China as Premier issues warning

New Delhi : The consumption of electricity in the Chinese provinces of Shandong and Henan reached records this week, primarily driven by the use of air conditioning as heat waves spread across regions north of the Yangtze river. : Economic Times

US solar developers to spend $6 bln to boost domestic panel supplies

New Delhi : A Group of US solar energy project developers on Tuesday said they would jointly spend about $6 billion to support expansion of the domestic solar panel supply chain. : Economic Times

Adani Enterprises, 10 others keen on bidding for coal import tenders: CIL

New Delhi : Adani Enterprises and 10 other companies including offshore firms have expressed interest in bidding for coal import tenders floated by Coal India Limited, the public sector minor said on Tuesday. : Economic Times

Monthly instalment scheme can help discoms save one-fourth of additional payout to gencos: Crisil

New Delhi : New equated monthly instalment scheme introduced by power ministry can help electricity distribution companies (discoms) save a quarter of their additional payouts and clear around Rs 20,000 crore payments to generation firms (gencos) this fiscal, according to Crisil Ratings. : Economic Times

Adani, Jindal Power Cos in Race to Buy Ind-Barath Thermal

New Delhi : Gautam Adani-promoted Adani Power NSE -2.66 % and Naveen Jindal-promoted Jindal Power (JPL) are in the race to acquire Ind-Barath Thermal Power in a bankruptcy auction, two people aware of the development told ET. : Economic Times

15 MW EPC Tender Issued for Wind Power Project in Gujarat

New Delhi : 15 MW EPC Tender Issued for Wind Power Project in Gujarat. : saurenergy.com

Toyota Partners With Redwood Materials For Closed Loop EV Batteries

New Delhi : Toyota Partners With Redwood Materials For Closed Loop EV Batteries. : saurenergy.com

PubMatic Achieves 100% Renewable Energy Across Global Data Centers

New Delhi : PubMatic Achieves 100% Renewable Energy Across Global Data Centers. : saurenergy.com

Germany’s Renewable Energy Pledge Blackened By Coal

New Delhi : Germany’s Renewable Energy Pledge Blackened By Coal. : saurenergy.com

In A First For The World, Auckland Ports Welcome a Full-Sized Electric Tugboat

New Delhi : In A First For The World, Auckland Ports Welcome a Full-Sized Electric Tugboat. : saurenergy.com

Daily News Wrap-Up: Regulator Allows ₹8.40/kWh Tariff for a Delayed Solar Project

New Delhi : Daily News Wrap-Up: Regulator Allows ₹8.40/kWh Tariff for a Delayed Solar Project. : mercomindia.com

Project Finance Brief: Recurrent Energy Acquires Two 200 MWh Energy Storage Projects

New Delhi : Project Finance Brief: Recurrent Energy Acquires Two 200 MWh Energy Storage Projects. : mercomindia.com

US Solar Firms Form Consortium To Spend $6 Billion To Support Domestic Industry, Supply Chain

New Delhi : US Solar Firms Form Consortium To Spend $6 Billion To Support Domestic Industry, Supply Chain. : saurenergy.com

Funding and M&A Roundup: Power Factors Acquires Renewable Software Provider Inaccess

New Delhi : Funding and M&A Roundup: Power Factors Acquires Renewable Software Provider Inaccess. : mercomindia.com

Saudi Oil Major Aramco Aims to Generate 12 GW of Renewable Energy by 2030

New Delhi : Saudi Oil Major Aramco Aims to Generate 12 GW of Renewable Energy by 2030. : mercomindia.com

Pandemic has accelerated the need for self-dependence in energy: Mahesh Palashikar, GE

New Delhi : The ongoing pandemic has brought into focus the need for India to achieve self-dependence in energy sector, and that means not just accelerating the shift towards non-fossil resources but also focusing on ramping up overall generation itself, according to Mahesh Palashikar, President, GE South Asia. : Economic Times

India needs $223 bn to meet 2030 renewable capacity goals: Report

New Delhi : India will need USD 223 billion of investment to meet its goal of wind and solar capacity installations by 2030, according to a new report by research company BloombergNEF (BNEF). : Economic Times

Europe faces ‘scramble’ to replace dwindling Russian energy: IEA

New Delhi : Europe must race to replace sanctioned and curtailed Russian energy supply and should double down on efficiency and renewables, including nuclear power, the International Energy Agency (IEA) said on Wednesday. : Economic Times

Delhi airport first to run on hydro and solar power

New Delhi : Delhi’s Indira Gandhi International Airport (IGIA) has become the first airport in India to run entirely on hydro and solar power as it switched to renewable sources for its energy needs. : Economic Times

Okinawa Autotech to invest Rs 500 crore to set up manufacturing plant in Rajasthan

New Delhi : Electric two-wheeler maker Okinawa Autotech on Wednesday said it will invest Rs 500 crore to set up a new manufacturing plant at Karoli in Rajasthan. Spread across 30 acres of land, the factory will have an annual production capacity of 10 lakh units and will be fully operational from October 2023, Okinawa Autotech said in a statement. : Economic Times

Reaping benefits of solar home system

Kochi : Though there has been a growing demand for installation of rooftop solar panels among residents in the city, with Kerala State Electricity Board (KSEB) and Agency for New and Renewable Energy Research and Technology (ANERT) offices flooded with inquiries, Kochiites continue to be plagued by doubts on various aspects related to solar rooftop plants, costs, installation charges, maintenance, and subsidy benefits. : Economic Times

Renewable energy auctions to attract large developers: IEEFA

New Delhi : Large developers in the renewable energy sector have enough options to boost returns even as challenges mount and will fight aggressively in the various auctions scheduled in 2022, a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) said on Wednesday. : Economic Times

$2.4 trillion put into energy in 2022 not enough to tackle supply crunch, says IEA

New Delhi : The $2.4 trillion set to be invested in energy this year includes record spending on renewables but falls short of plugging a supply gap and tackling climate change, the International Energy Agency (IEA) said on Wednesday. : Economic Times

Toyota joins Redwood Materials’ EV battery recycling initiative

New Delhi : US startup Redwood Materials Inc on Tuesday said Japan’s Toyota Motor Corp has become the latest auto industry giant to join its comprehensive electric vehicle (EV) battery recycling and remanufacturing initiative. : Economic Times

Russia widens support for Kudankulam Nuclear Power Plant

New Delhi : Russia is continuing to support units in the Kudankulam Nuclear Power Plant (NPP) notwithstanding geo-political developments. ZiO-Podolsk JSC (part of the machine-building division of Rosatom State Corporation – Atomenergomash JSC) has manufactured the heat-exchanging apparatus for the power unit No.5 of Kudankulam NPP. : Economic Times

Govt to invite bids to set up 50 charging stations for e-vehicles

Panaji : To create a web of EV charging stations with the aim to boost electric vehicle sales, the government has decided to invite bidders to set up 50 charging stations on design, built, operate, finance and transfer basis (DBOFT). : Economic Times

Jindal Power to buy Simhapuri power plant for about ₹300 cr

New Delhi : Jindal Power (JPL), a subsidiary of Jindal Steel & Power, is set to acquire Simhapuri Energy’s 600 MW power plant that runs on imported coal, people aware of the development said. : Economic Times

People will be given choice whether they want subsidised electricity or not, say Kejriwal

New Delhi : Power consumers in Delhi will be given a choice whether they want a subsidy on electricity or not, Chief Minister Arvind Kejriwal said on Tuesday. The consumers will be given a form to fill up and those who ask for subsidy will get free power supply and those who opt out will not get it, he added. : Economic Times

The case for nuclear energy is supported by safety advances

New Delhi : As energy security becomes a growing source of angst, it’s clear that large-scale reliable use of renewable resources remain a distant reality in many countries. : Economic Times

Nuclear power is the future. Tiger Global and Bill Gates know it

New Delhi : As energy security becomes a growing source of angst, it’s that clear large-scale, reliable use of renewable resources remain a distant reality in many countries. : Business Standard

Kalpataru Power Transmission, its arms bag orders worth Rs 2,290 crore

New Delhi : Kalpataru Power Transmission Ltd and its arms have bagged new orders worth Rs 2,290 crore. Kalpataru Power Transmission Limited (KPTL), a leading global EPC (engineering, procurement and construction) player in the power and infrastructure contracting sector. : Business Standard

Tata Power installs 150 clean energy-powered EV charging stations across Mumbai

Mumbai : As another step toward promoting green offerings and e-mobility to the people of Mumbai, Tata Power, one of India’s largest integrated power companies and a leading EV charging infrastructure provider has installed 150 green energy-powered EV stations across residential societies, malls, commercial complex and petrol pumps in Mumbai. : psuconnect.in

SOLshare and Shakti Foundation Connect Solar P2P Microgrid To National Grid in Bangladesh

New Delhi : SOLshare and Shakti Foundation Connect Solar P2P Microgrid To National Grid in Bangladesh. : saurenergy.com

State Of Offshore Wind Power in India

New Delhi : State Of Offshore Wind Power in India. : saurenergy.com

New Fitch Report Says Saudi Arabia Solar Power Expansion To Reach 5.1 GW By 2031

New Delhi : New Fitch Report Says Saudi Arabia Solar Power Expansion To Reach 5.1 GW By 2031. : saurenergy.com

Developers Consortium to Buy Over 6 GW of Modules Annually to Support Local Manufacturing

New Delhi : Developers Consortium to Buy Over 6 GW of Modules Annually to Support Local Manufacturing. : mercomindia.com

Koovappady Panchayat in Kerala Saves ₹15,000 Every Two Months With a Rooftop Solar System

New Delhi : Koovappady Panchayat in Kerala Saves ₹15,000 Every Two Months With a Rooftop Solar System. : mercomindia.com

ACWA Power-led Consortium to Develop 1.1 GW Onshore Wind Project in Egypt

New Delhi : ACWA Power-led Consortium to Develop 1.1 GW Onshore Wind Project in Egypt. : mercomindia.com


Oil and Gas

” New Delhi : In pursuance to the challenge and inspiration given by Hon’ble Prime Minister in his address to the officials of Ministry of Petroleum & Natural Gas on 25th September 2017 to develop a viable solar solution to power our kitchens, IndianOil and Ministry of Petroleum & Natural gas have developed an indigenous Solar cook top “Surya Nutan”.” : Sarkaritel.com

” New Delhi : Oil India Limited made a humble contribution of Rs 5 Cr to CM’s Relief Fund for Assam as a response to the ongoing Assam Floods.” : psuconnect.in

Oil India starts process to set up Office in Guwahati, Skill Development Institute

New Delhi : Oil India Limited (OIL) has started the process of setting up a Guwahati Office and Skill Development Institute. Assam Chief Minister Himanta Biswa Sarma laid the foundation stone at Bamunimaidan, Guwahati and unveiled the plaque in presence of Rameshwar Teli, Minister of State for Petroleum and Natural Gas and Labour and Employment, Government of India, and the Board of Directors of Oil India. : Economic Times

GAIL to enter distributed LNG production business

New Delhi : In a first-of-its kind endeavour in the country, GAIL (India) Limited plans to enter into distributed Liquefied Natural Gas (LNG) production with the vision to cater the demand from off-grid locations and transport sector. : Sarkaritel.com

GAIL to enter distributed LNG production business

New Delhi : GAIL (India) Ltd, the nation’s largest gas transportation and marketing firm, on Wednesday said it plans to enter into distributed Liquefied Natural Gas (LNG) production to take the fuel to users. GAIL will liquefy or turn natural gas into liquid at sub-zero temperature and transport it in trucks to users. : Economic Times

India’s BPCL halves crude runs at Mumbai refinery; plans repairs at other plants

New Delhi : Bharat Petroleum Corp Ltd (BPCL) has shut half of its crude processing capacity at its 240,000 barrels per day (bpd) Mumbai refinery in western India since June 10 to carry out maintenance, a company spokesman said. : Economic Times

Gail to set up small liquefaction facilities for areas not connected to pipelines

New Delhi : Gail NSE -2.02 % plans to set up small liquefaction facilities to cater to natural gas demand in areas not connected to pipelines and to help transport gas from isolated fields, the company said in a statement. : Economic Times

India may see $150 bn investment in hydrogen sector in a decade: RIL

New Delhi : On the sidelines of the BNEF Summit in New Delhi, Kapil Maheshwari, President, New Energy, Reliance Industries Limited, said that India provides immense opportunities in the field of hydrogen and is likely to attract an investment of up to $150 billion. : Mint

GAIL CMD inaugurated 19th Annual HSE Workshop

Noida : Shri Manoj Jain, Chairman, and Managing Director, GAIL along with Shri Deepak Gupta Dir (Project) inaugurated the 19th Annual HSE Workshop at GAIL Training Institute, Noida. : psuconnect.in

IndianOil organised a special event on ‘Surya Nutan’

New Delhi : Indian Oil Corporation today organised a special event on Surya Nutan Indoor Cooking System Demonstration. Commenting on this Mr. S M Vaidya, Chairman, IndianOil, said, “It was a privilege to demonstrate IndianOil R&D’s Surya Nutan Indoor Cooking System to Hon’ble Union Ministers Shri Hardeep Singh Puri, Shri Shandilya Giriraj Singh, Shri Kaushal Kishore, Shri Som Parkash and Shri Suresh K Khanna. : psuconnect.in

Market must count all costs in Russian oil flow upheaval

New Delhi : The West’s boycott of Russian barrels will be the oil market’s ultimate test. While it has an impressive record of adapting to unthinkable shifts in trade patterns, from self-imposed embargoes on US exports to sanctions on Iranian and Venezuelan crude, the stakes, and costs, have never been higher. : Economic Times

Oil prices slide as Biden pushes for US fuel cost cuts

Melbourne : Oil prices skidded in early trade on Wednesday amid a push by US President Joe Biden to bring down soaring fuel costs, including pressure on major US firms to help ease the pain for drivers during the country’s peak summer demand. : Economic Times

APA-Total JV makes oil discovery off Suriname coast

New Delhi : APA Corp said on Tuesday its joint venture with France’s TotalEnergies SE has made an oil discovery at an exploration well off the coast of Suriname. : Economic Times

Oil turbulence could last five years, ExxonMobil boss warns

New Delhi : Consumers must be prepared to endure up to five years of turbulent oil markets, the head of ExxonMobil said Tuesday, citing under-investment and the coronavirus pandemic. : Economic Times

Russia is rerouting trade and oil to BRICS countries: President Vladimir Putin

New Delhi : President Vladimir Putin said on Wednesday that Russia was in the process of rerouting its trade and oil exports towards countries from the BRICS group of emerging economies in the wake of Western sanctions over Ukraine. : Economic Times

Oil prices tumble nearly 3% as investors eye US Fed rate hikes

New Delhi : Oil prices tumbled about 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. : Business Standard

RIL, Nayara account for a combined 69% of Russian oil shipments to India

New Delhi : Neither pressure from the US nor tightening European sanctions have made India step back from the purchase of cheap Russian crude oil, joining rival China to create financial lifelines for Russian President Vladimir Putin. : Business Standard

EIL participated in first-ever Legal Meet ‘Amicus Petra’ organised by OIL

New Delhi : Total Solutions Engineering Consultancy and EPC Company, Engineers India Limited (EIL) participated in the first-ever Legal Meet ‘Amicus Petra’ organised by Oil India Limited with the participation of Oil PSUs to deliberate best practices for reduced litigation and issues of importance to the industry. : psuconnect.in

Saudi Oil Major Aramco Aims to Generate 12 GW of Renewable Energy by 2030

New Delhi : Saudi Oil Major Aramco Aims to Generate 12 GW of Renewable Energy by 2030. : mercomindia.com

Bharat Petroleum Invites Bids to Set Up a 5 MW Green Hydrogen Production Facility

New Delhi : Bharat Petroleum Invites Bids to Set Up a 5 MW Green Hydrogen Production Facility. : mercomindia.com

Biden seeks three-month federal gas tax holiday as prices skyrocket

New Delhi : US President Joe Biden will ask Congress Wednesday to suspend the federal gas tax for three months as skyrocketing prices cause widespread anger among Americans just months before crucial mid-term elections. : Economic Times

Brazil’s Petrobras buys first cargo of Guyanese crude for refining

Houston : Brazilian state-controlled oil company Petrobras has bought its first cargo of Guyanese crude for refining domestically, the company told Reuters, as South America’s newest producer expands its market reach. : Economic Times

Sri Lanka PM says economy ”has collapsed,” unable to buy oil

Columbo : Sri Lanka’s prime minister says its debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity. Prime Minister Ranil Wickremesinghe told Parliament on Wednesday that the South Asian country is “facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food. Our economy has completely collapsed.” : Economic Times

Drone strike suspected in Russian oil refinery fire near Ukraine border

Moscow : A drone strike may have caused a fire that broke out at the Novoshakhtinsk oil refinery in Russia’s southern Rostov region that borders Ukraine, the region’s governor said Wednesday. : Economic Times

Greece announces further subsidies to ease fuel, energy costs

New Delhi : Greek Prime Minister Kyriakos Mitsotakis has announced the extension of a subsidy for fuel consumption for the next three months, to ease the burden on budgets of households and businesses amid the ongoing international energy crisis. : Economic Times

Germany rejects EU plan for ban on new fossil-fuel cars from 2035

Berlin, Germany : Germany’s government will not agree to European Union plans to effectively ban the sale of new cars with combustion engines from 2035, Finance Minister Christian Lindner said on Tuesday. : Economic Times

China imports 2 mln barrels more of Iran oil, likely for reserves

Singapore : China has received a new shipment of nearly 2 million barrels of Iranian oil in the past week at a southern port, according to shipping trackers, with one tracker saying the cargo is destined for state reserves. : Economic Times

Is green hydrogen a ‘game changer’ in clean energy transition?

New Delhi : High in Chile’s sun-drenched Atacama desert, Gaston Caceres and five other engineers are working on plans for a huge solar-powered hydrogen project that reflects their country’s ambitions to become a leading exporter of the fuel. : Economic Times

US oil refining capacity drops in 2021 for 2d straight year: EIA

Houston : Capacity for US oil refiners fell in 2021 for the second year in a row, the most recent government data showed on Tuesday, as plant shutdowns kept whittling away on their ability to produce gasoline and diesel. : Economic Times

Nigeria hikes freight rate on imported fuel as oil prices soar

New Delhi : Nigeria has doubled its freight rate on subsidised imported petrol in a bid to help ease distribution challenge as global oil prices rise, the country’s regulator said on Tuesday. : Economic Times

China and India may be buying more Russian oil than known, says US

New Delhi : China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets and potentially driving a recent price decline, one of President Joe Biden’s economic advisers said. : Economic Times

India’s May crude imports rise 13.4% year-on-year

New Delhi : India’s crude oil imports in May rose about 13.4% from a year earlier as refiners stocked up on cheaper Russian supply to cater to a recovery in demand in the world’s third-biggest oil consumer. : Mint

India and China may be buying more Russian oil than we believe, says US

New Delhi : China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets and potentially driving a recent price decline, one of President Joe Biden’s economic advisers said. : Mint

Russian oil tankers get India safety cover via Dubai company: Report

New Delhi : India is providing safety certification for dozens of ships managed by a subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions against Moscow. : Business Standard

Crude oil buckles as recession angst rattles commodity investors

New Delhi : Oil plunged for the second time in a few days on concerns that a global economic slowdown will ultimately hobble oil demand. : Business Standard

NRL Director Finance addressed prestigious S&P Global Mumbai Forum 2022

New Delhi : NRL Director Finance Mr. Indranil Mittra was invited as a Keynote Speaker to address the inaugural session of the prestigious S&P Global Mumbai Forum 2022 held on 20th and 21st June 2022. : psuconnect.in

Europe told to prepare immediately for Russia to turn off all gas exports

New Delhi : Europe needs to prepare “immediately” for Russia to turn off all gas exports to the region this winter, according to the head of the International Energy Agency, who has called on governments to work on reducing demand and keeping nuclear power plants open. : Sarkaritel.com

Exxon to produce higher-value fuels for Singapore Resid Upgrade Project

Singapore : ExxonMobil will be upgrading its residual production into higher-value lubricant base stocks and cleaner fuels as part of its Singapore Resid Upgrade Project, the company said on Wednesday. : Economic Times

Oil slumps by more than $5 as Biden expected to cut US fuel cost

New Delhi : Oil prices tumbled by more than $6 a barrel on Wednesday amid a push by US President Joe Biden to cut fuel costs for drivers in the latest episode to aggravate relations between the White House and the US oil industry. : Economic Times

Europe told to prepare immediately for Russia to turn off all gas exports

London : Europe needs to prepare “immediately” for Russia to turn off all gas exports to the region this winter, according to the head of the International Energy Agency, who has called on governments to work on reducing demand and keeping nuclear power plants open. : Economic Times

Spain bets on green hydrogen in clean energy push

New Delhi : As Europe seeks to move way from fossil fuels, Spain is racing ahead in developing green hydrogen, aided by a growing wind and solar power complex in efforts to decarbonise its economy. : Economic Times

Explainer: Why is there a worldwide oil-refining crunch?

New Delhi : Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. : Economic Times

Chevron CEO says Biden should stop criticizing Big Oil, urges change in approach

Houston : Chevron Chief Executive Michael Wirth on Tuesday rebutted White House officials’ criticism of the oil industry over energy costs, saying bringing down fuel prices will require “a change in approach” by the government. : Economic Times

Oil turbulence may last five years, says ExxonMobil CEO Darren Woods

New Delhi : ExxonMobil CEO Darren Woods on Tuesday said it would take time for energy market volatility to end and that he expects three to five years of fairly tight oil markets. : Business Standard

Europe told to ‘prepare immediately’ as Russia set to turn off gas exports

New Delhi : Europe needs to prepare “immediately” for Russia to turn off all gas exports to the region this winter, according to the head of the International Energy Agency, who has called on governments to work on reducing demand and keeping nuclear power plants open. : Business Standard

India tells oil companies to load up on discounted Russian crude

New Delhi : The Indian government has asked state oil companies to scoop up huge volumes of cheap crude from Russia, according to industry executives, strengthening commercial ties with the country even as the West tightens sanctions on Moscow. : Mint

Sarkaritel
By Sarkaritel June 23, 2022 07:37