MEDIA UPDATE (JUNE 30, 2022)

Sarkaritel
By Sarkaritel June 30, 2022 07:26


30-Jun-2022

Power

Power Ministry instructs CEA officials to visit CIL’s Mines

New Delhi : Power Ministry of India directed the Central Electricity Authority officials to visit Coal India Ltd’s mines to look up the task of coal stock and supply. According to the sources in the Ministry of coal said, they did not seek such assistance. : psuconnect.in

Arab states planning rapid wind and solar expansion: report

New Delhi : Arab states could come close to achieving renewable energy targets for 2030 if they complete planned utility-scale solar and wind projects according to projected timelines, a report published on Tuesday said. : Economic Times

Actis launches power generation business

New Delhi : Actis, a global investor in sustainable infrastructure has launched Bridgin Power, a power generation business that will pursue gas-fired power projects and focus on delivering an equitable Energy Transition in Southeast Asia. : Economic Times

Sundram Fasteners betting big on EV and wind segments

New Delhi : Auto component major Sundram Fasteners is focusing big on green technologies, including electric vehicles and wind energy segments. : Economic Times

AU to extend insurance to agriculture, green energy sectors

New Delhi : The African Risk Capacity, a specialised agency of the African Union, has said that it will extend insurance covers to the continent’s agriculture and green energy sectors. : Economic Times

Range extenders: solar panels provide more juice to EVs

Paris, France : Startups and major carmakers are starting to incorporate solar panels on their electric vehicles, an addition that extends the range of the cars even if perpetual motion remains a dream. : Economic Times

Ukraine to start electricity trading with EU neighbours

New Delhi : Ukraine will start trading electricity with neighbouring European countries later this week as it continues to move away from Russia’s sphere of influence, the European Network of Transmission System Operators for Electricity (ENTSO-E) said on Tuesday. : Economic Times

Renewable power group Opdenergy plans to raise up to 200 mln euros in IPO

New Delhi : Renewable power company Opdenergy on Wednesday announced plans to launch an initial public offering (IPO) to raise up to 200 million euros ($209.80 million) to finance its business plan up to 2025, in what will be Spain’s first flotation this year. : Economic Times

goEgoNetwork to install EV charging stations at VITS-Kamats Group hotels

Mumbai : Pune-based EV charging infra startup goEgoNetwork will install charging stations at the VITS-Kamats Group hotels across the country under an initial pact, a statement said on Tuesday. : Economic Times

LONGi showcases its extensive expertise in fighting against global land desertification through solar photovoltaic technology at UNCCD COP15

New Delhi : Save Soil has become a rallying call and one of the most overlooked areas of climate change, that has gained traction in the recent years due to emphasis from the civil society and NGOs. : Economic Times

Solar developer Intersect gets $750 mln investment from private equity firm TPG

New Delhi : A top US solar energy project developer on Tuesday announced a $750 million equity investment from the climate-focused private equity fund TPG Rise Climate. : Economic Times

Maharashtra signs MoU with Adani Energy for 11000 MW power generation

New Delhi : The Maharashtra government’s Energy department on Tuesday signed a Memorandum of Understanding with Adani Green Energy Group Ltd (AGEL) to generate 11000 MW green power in the next five years. : Business Standard

Biocon to buy 26% stake in AMPYR Renewable Energy Resources Eleven

New Delhi : Biocon Ltd on Wednesday said it will acquire 26 per cent stake in AMPYR Renewable Energy Resources Eleven Pvt Ltd (AREREPL) for Rs 7.5 crore. : Business Standard

MPUVNL Tender Invites Bids For 35 MW Rooftop Solar Systems

New Delhi : MPUVNL Tender Invites Bids For 35 MW Rooftop Solar Systems. : saurenergy.com

Intersect Power Raises $750 Million Growth Equity Investment from TPG Rise & Others

New Delhi : Intersect Power Raises $750 Million Growth Equity Investment from TPG Rise & Others. : saurenergy.com

MSEDCL Issues 1 GW Tender for Solar Power Supply

New Delhi : MSEDCL Issues 1 GW Tender for Solar Power Supply. : saurenergy.com

Haryana Announces a Slew of Financial Incentives for EV Manufacturers

New Delhi : Haryana Announces a Slew of Financial Incentives for EV Manufacturers. : mercomindia.com

Bids Invited for 121 MW of Solar Power Projects in Haryana

New Delhi : Bids Invited for 121 MW of Solar Power Projects in Haryana. : mercomindia.com

Residential Rooftop Solar Subsidies To be Directly Transferred to the Consumers

New Delhi : Residential Rooftop Solar Subsidies To be Directly Transferred to the Consumers. : mercomindia.com

Tianqi Lithium aims to raise up to $2 billion in Hong Kong listing: sources

New Delhi : China’s Tianqi Lithium Corp will sell its shares for between HK$69 and HK$82 ($8.79-$10.45) each for a Hong Kong listing which could raise up to $2 billion, said two sources with direct knowledge of the matter. : Economic Times

Hindalco picks 26 per cent stake in Cleanwin Energy SIX

New Delhi : Hindalco Industries will be investing in renewable energy generation company Cleanwin Energy SIX and will pick up a 26 per cent stake in a cash deal worth Rs 71.5 lakh, the company announced in a stock exchange filing on Wednesday. : Economic Times

Commercial EV Startup Turno raises $3.1 million in funding from Stellaris Venture Partners

New Delhi : Commercial electric vehicle startup Turno has raised $3.1 million in funding led by Stellaris Venture Partners and Avaana Capital. Angel investors such as BigBasket’s Vipul Parekh, Urban Ladder’s Ashish Goel, and the Goenka Family Office were the other participants. : Economic Times

Purohit flags off 40 electric buses

Chandigarh : Punjab governor-cum-UT administrator Banwarilal Purohit flagged off prototype electric buses of the second lot of 40 electric buses to be procured by Chandigarh Transport Undertaking (CTU). : Economic Times

31 companies submit bids for commercial coal mining auction

New Delhi : A total of 31 companies have submitted 38 online and offline Bids bids for commercial coal mining auction and now the technical evaluation will be carried out by a committee of senior officers, the Ministry of Coal announced on Tuesday. : Economic Times

Maharashtra signs Rs 60,000 crore power MOU with Adani Group

Mumbai : The state energy department signed a MoU for investments worth Rs 60,000 crore with Adani Group on Tuesday, which will bring 11,000 MW additional power to Maharashtra in five years. This will also generate 30,000 new jobs, said energy minister Nitin Raut. : Economic Times

Coal ministry approaches environment ministry for inclusion of 5 coal mine pit lakes in Ramsar list

New Delhi : As part of promoting sustainable mining operations, ministry of coal has approached Ministry of Environment, Forest & Climate Change (MoEFCC) for inclusion of five coal mine pit lakes of Coal India Ltd (CIL) in the Ramsar list. : Mint

Power demand surges amid souring heat; North India logs record demand

New Delhi : North India registered a record power demand on Tuesday due to soaring temperatures. The highest peak demand met on Tuesday in the northern region of the country stood at 77.09 GW. : Mint

DMEGC Rolls Out New Monocrystalline PERC M10 Rooftop Solar Modules

New Delhi : DMEGC Rolls Out New Monocrystalline PERC M10 Rooftop Solar Modules. : saurenergy.com

Petrofac and Hitachi Energy Join Up To Tap Growing Offshore Wind Market

New Delhi : Petrofac and Hitachi Energy Join Up To Tap Growing Offshore Wind Market. : saurenergy.com

Hindustan Power Exchange Gets CERC Nod For India’s Third Power Trading Exchange

New Delhi : Hindustan Power Exchange Gets CERC Nod For India’s Third Power Trading Exchange. : saurenergy.com

UPERC Mulls Introduction Of Green Tariff In Uttar Pradesh

New Delhi : UPERC Mulls Introduction Of Green Tariff In Uttar Pradesh. : saurenergy.com

Funding and M&A Roundup: Energy Storage Company Sunlight Secures $158 Million Loan

New Delhi : Funding and M&A Roundup: Energy Storage Company Sunlight Secures $158 Million Loan. : mercomindia.com

CERC Approves Methodology for Price Discovery on Hindustan Power Exchange

New Delhi : CERC Approves Methodology for Price Discovery on Hindustan Power Exchange. : mercomindia.com

Project Finance Brief: Matrix Secures $92 Million Funding for Gaskell Solar Projects

New Delhi : Project Finance Brief: Matrix Secures $92 Million Funding for Gaskell Solar Projects. : mercomindia.com

SECI Issues Tender to Supply 1,680 MW of Solar Modules

New Delhi : SECI Issues Tender to Supply 1,680 MW of Solar Modules. : mercomindia.com

World Bank Approves $165 Million Funding for Residential Rooftop Solar Projects in India

New Delhi : World Bank Approves $165 Million Funding for Residential Rooftop Solar Projects in India. : mercomindia.com

Daily News Wrap-Up: LG Electronics Acquires AppleMango, Enters EV Charging Business

New Delhi : Daily News Wrap-Up: LG Electronics Acquires AppleMango, Enters EV Charging Business. : mercomindia.com


Oil and Gas

” New Delhi : Two government owned companies Oil India Limited and Indian Oil Corporation Limited signed Gas sale and purchase agreement today, June 29, 2022. ” : psuconnect.in

Petroleum Ministry and ONGC announce ex-gratia of Rs 15 lakhs each to families of four deceased in Mumbai High helicopter incident

New Delhi : As an immediate measure, both the Ministry of Petroleum and Natural Gas, and Oil and Natural Gas Corporation Limited (ONGC) have announced ex-gratia of ₹15 lakh each (Total ₹ 30 lakh) for each family of the four persons who were lost in the unfortunate helicopter incident on Arabian Sea. : Sarkaritel.com

Sandeep K Gupta to be next chairman of GAIL

New Delhi : Sandeep Kumar Gupta, Director for Finance at Indian Oil Corporation, has been picked to head India’s largest gas utility GAIL (India) Ltd, the government headhunter said. The Public Enterprises Selection Board (PESB) selected Gupta, 56, for the post of chairman and managing director of GAIL after interviewing 10 candidates, it said in a post-interview notice. : Economic Times

GAIL won Special Commendation Award in Manufacturing Category

New Delhi : The Government owned natural gas explorer GAIL India Limited won the “Special Commendation Award” in the Manufacturing Category at the 31st National Awards for Innovative Training Practices (ISTD). : psuconnect.in

Trinidad boosts LNG exports to Europe, rushes more gas output

New Delhi : Trinidad and Tobago’s sales of liquefied natural gas (LNG) to Europe have doubled so far this year to 40 per cent of the total, Energy Minister Stuart Young said on Tuesday, as demand continues growing amid a reduction of Russian gas supplies. : Economic Times

China’s Sinopec produces first biojet fuel at east China refinery

Singapore : China’s Sinopec Corp produced its first aviation fuel from used cooking oil at an industrial-scale facility in east China, the state refining giant said on Tuesday. : Economic Times

India makes a big push for oil and gas exploration in Andaman deep water basin

New Delhi : India is making a big push for oil and gas exploration in Andaman deep water basin with the government planning to fund an ONGC-led drilling campaign and easing clearances, according to people familiar with the matter. : Economic Times

Can Saudi Aramco meet its oil production promises?

New Delhi : If th he oil market was a religion, its central article of faith would be the maximum production capacity of Saudi Aramco, a tenet based on confidence in what we hope to be true and belief in properties we have not yet witnessed. The market is about to have its epiphany. : Economic Times

Govt may deregulate domestic oil to boost revenue

New Delhi : The government is likely to deregulate domestic crude on Wednesday in a bid to remove a market anomaly, boost government’s tax revenue and help producers such as ONGC and Oil India Ltd get better realisation for crude produced by them, sources said. : Economic Times

Norway must prepare for faster drop in oil demand on road to 2050 -IEA

Oslo : Norway must do more to prepare for a decline in its dominant oil and gas industry in the coming decades as other nations start to free themselves from petroleum dependence, the International Energy Agency (IEA) says in a new report. : Economic Times

Exxon, Imperial to sell Canada shale assets to Whitecap for $1.5 billion

New Delhi : US oil major Exxon Mobil Corp and Imperial Oil Ltd said on Tuesday they will sell their Montney and Duvernay shale oil and gas assets in Canada to Whitecap Resources Inc for C$1.9 billion ($1.48 billion). : Economic Times

Government approves deregulation of sale of domestically-produced crude oil

New Delhi : The Cabinet has approved the deregulation of the sale of domestically-produced crude oil, Union Minister Anurag Thakur announced on Wednesday. : Economic Times

OPEC, allies struggle to meet oil production targets

New Delhi : As President Biden prepares to go to Saudi Arabia in July, OPEC members say the cartel and its allies have fallen far behind on their oil-production targets and are in their weakest position in recent years to help tame high crude prices. : Mint

Reliance key beneficiary as refining margins skyrocket

New Delhi : Asian refining margins have shot up as crude oil trades at elevated levels, resulting in windfall gains for oil refiners. While Indian refiners across the board have gained, a key beneficiary is top energy firm Reliance Industries Ltd, winning multiple earnings upgrades, and its stock racing ahead of benchmark indices. : Mint

ONGC employees seek discontinuation of Pawan Hans choppers as 4 die in crash

New Delhi : A day after four people lost their lives in a helicopter accident near a rig off the Mumbai coast, ONGC Officers Association has written to the CMD seeking discontinuation of Pawan Hans helicopters usage in the company’s operations. : Mint

Opec+ struggles to meet its supply targets amid high crude prices

New Delhi : As President Biden prepares to go to Saudi Arabia in July, Opec+ members say the cartel and its allies have fallen far behind on their oil-production targets and are in their weakest position in recent years to help tame high crude prices. : Business Standard

Sandeep Kumar Gupta to be next chairman of GAIL, succeeds Manoj Jain

New Delhi : Sandeep Kumar Gupta, Director for Finance at Indian Oil Corporation, has been picked to head India’s largest gas utility GAIL (India) Ltd, the government headhunter said. : Business Standard

NITI Aayog report on green hydrogen pushes for decarburisation opportunities

New Delhi : In view of the challenge of de-carbonising the heavy industry in the country, a report issued by the NITI Aayog on Wednesday explores the possibility of India becoming a global hub for green hydrogen production and export through a 10-point guide for a national action plan. : Sarkaritel.com

Having ‘intensive engagement’ with India, other key oil consuming nations on Russian oil price cap: US

Washington : The US has said it is having “intensive engagement” with key oil consuming countries, including India, on the specifics of how a price cap on Russian oil imports would work, but the issue was not discussed at the level of President Joe Biden and Prime Minister Narendra Modi during the recent G7 Summit. : Economic Times

Spain begins natural gas exports to Morocco following diplomatic row

New Delhi : Natural gas has started flowing from Spain towards Morocco through a pipeline that stopped flowing in November amid a diplomatic row between Morocco and Algeria, data from Spanish gas grid operator Enagas showed on Wednesday. : Economic Times

India needs to form Green Hydrogen Corridors: NITI Aayog

New Delhi : India needs to form Green Hydrogen Corridors and governments can look at providing grants to startups as well as support entrepreneurs to promote green hydrogen, NITI Aayog said on Wednesday. : Economic Times

India forced to ship in petrol, diesel as shortages flare up

New Delhi : Global energy markets that have thrown up plenty of anomalies in 2022 as flows get rerouted and prices jump just saw a fresh quirk: India, typically Asia’s leading gasoline and diesel exporter, has been forced to step up imports of the fuels. : Economic Times

EU insurance ban targets Russian oil exports

London : An EU ban on insuring ships transporting Russian oil could potentially hurt Moscow more than its embargo on the nation’s crude, analysts say. : Economic Times

Sri Lanka ends fuel duopoly to open oil market to foreign cos

Columbo : Sri Lanka will allow companies from oil-producing countries to import and sell fuel, the power and energy minister said on Tuesday, ending a duopoly as it tries to overcome its shortage. : Economic Times

Shell launches service to organise India’s waste oil disposal system

New Delhi : Shell, a UK-based oil and gas firm, on Wednesday said it has launched a used oil management service to organise India’s waste oil disposal system and to increase the rate of re-refining, as it aims to achieve circular economy goals while reducing waste. : Economic Times

Lanka IOC provides fuel as government pumps go dry in island nation

New Delhi : Lanka IOC, the subsidiary of Indian Oil Corporation in Sri Lanka, kept its pumps open throughout Tuesday as the cash-starved government’s fuel entity’s fuel stations did not operate in the island nation due to the worsening energy crisis. : Economic Times

G-7 leaders eyeing new natural gas projects

New Delhi : The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in the Bavarian Alps in Germany; and on the NATO summit in Madrid, where leaders begin gathering later on Tuesday. : Economic Times

UAE close to OPEC+ oil output ceiling: official

Dubai : The United Arab Emirates is close to its oil output ceiling under OPEC+ agreements, an official said, ahead of a regional visit by US President Joe Biden, who is expected to lobby for increased production. : Economic Times

Russia muscles in on Indian oil market at expense of OPEC titans

New Delhi : Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become the largest supplier to the giant Asian buyer. : Economic Times

After price cap talks, Russian Oil to get expensive, should India be worried?

New Delhi : After the G-7 leaders agreed to curb Russian oil imports to limit the energy proceeds that Kremlin uses to finance its war machines in Ukraine the country’s fuel prices have gone up due to strong demand from Asia. But should India be worried? : Mint

Sri Lanka: Postal services limited to three days-a week amid fuel crisis

Columbo : Amid the fuel shortage in the country, Sri Lanka’s postal department decided to open post and sub ports offices three days a week considering transport and travelling difficulties. : Business Standard

Lanka IOC provides fuel as government pumps go dry in island nation

New Delhi : Lanka IOC, the subsidiary of Indian Oil Corporation in Sri Lanka, kept its pumps open throughout Tuesday as the cash-starved government’s fuel entity’s fuel stations did not operate in the island nation due to the worsening energy crisis. : Business Standard

India needs to promote and form Green Hydrogen Corridors, says NITI Aayog

New Delhi : India needs to form Green Hydrogen Corridors and governments can look at providing grants to startups as well as support entrepreneurs to promote green hydrogen, NITI Aayog said on Wednesday. : Business Standard

Oil prices rise for 4th day on supply worries as US inventories down

New York : Oil prices gained for a fourth straight session on Wednesday as data showed a drawdown in U.S. crude stockpiles, adding to ongoing worries of tight supply, which have offset concerns over a weaker global economy and demand. : Business Standard

Trains Fueled by Hydrogen will Operate in Germany

New Delhi : Trains Fueled by Hydrogen will Operate in Germany. : saurenergy.com

Cabinet Decisions: Approves Deregulation of Sale of Domestically Produced Crude Oil

New Delhi : The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved ‘Deregulation of Sale of Domestically Produced Crude Oil’, whereby Government has decided to cease allocation of crude oil and condensate w.e.f. 01.10.2022. : psuconnect.in

Oil prices fall after three-day rally; concerns on supply shortage remain

New Delhi : Oil prices fell on Wednesday after rising in the previous three sessions but losses were limited on the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production. : Business Standard

Sarkaritel
By Sarkaritel June 30, 2022 07:26