MEDIA UPDATE (May 24, 2022)

Sarkaritel
By Sarkaritel May 24, 2022 06:34


24-May-2022

Power

” New Delhi : NLC India Limited celebrated its 66th Raising Day as Gratitude Day on 20th May 2022 with enthusiasm by recollecting the historical occasion of commencement of NLCIL’s Mining operations on 20th May 1957 and the services of the former employees of the company, who have toiled hard for the growth of the organization.” : Sarkaritel.com

BHEL Turnover up 24%, Pays 20% dividend, PAT at Rs.410 Crore against Rs.2,717 Crore loss in FY 20-21

New Delhi : Bharat Heavy Electricals Limited (BHEL) has bounced back into the black in fiscal 2021-22 despite the 2nd wave of COVID impacting Q1 operations severely. : Sarkaritel.com

NLCIL celebrates 66th Raising Day

New Delhi : NLC India Limited celebrated its 66th Raising Day as Gratitude Day on 20th May 2022 with enthusiasm by recollecting the historical occasion of commencement of NLCIL’s Mining operations on 20th May 1957 and the services of the former employees of the company, who have toiled hard for the growth of the organization. : psuconnect.in

Ericsson, Deutsche Telekom harness wind power for mobile masts as energy costs soar

New Delhi : Ericsson and Deutsche Telekom are harnessing the power of the wind and the sun at an energy-hungry 5G mobile site in Germany in an effort to guard against soaring electricity costs. : Economic Times

NTPC commissions 35 MW Floating Solar Project in Kayamkulam

New Delhi : State owned power producer NTPC has announced that consequent upon successful commissioning, second part capacity of 35 MW out of 92 MW Kayamkulam Floating Solar PV Project at Kayamkulam. : saurenergy.com

DRDO report finds serious battery defects in EVs that caught fire

New Delhi : The Defence Research & Development Organisation (DRDO) that was tasked with investigating into EV fire incidents by the Union Road Transport and Highways Ministry, has found serious defects in the batteries, including designs of the battery packs and modules. : Economic Times

Wind turbine supply chain won’t get easier: Siemens Energy CEO

New Delhi : Supply chain issues in the wind turbine industry look unlikely to improve, Siemens Energy’s chief executive said on Monday, increasing its eagerness to take over its Siemens Gamesa unit and start a turnaround quickly. : Economic Times

RED (Coal Mining) felicitates Winners of NTPC Medha Pratiyogita

New Delhi : The Team from NTPC CMHQ-SSC, consisting of Master Jyotiraditya Majhi, S/o Shri RC Majhi, AGM(SSC-C&M) and Master Devanshu Mishra, S/o Shri Kundan Mishra, AGM (SSC-Finance) have secured 1st position in the “Middle Group Category” in the NTPC Medha Pratiyogita 2021. : psuconnect.in

Siemens Energy launches $4.3 bln bid for remaining Siemens Gamesa stake

Frankfurt : Siemens Energy on Saturday launched a 4.05 billion euro ($4.28 billion) bid for minority holdings in struggling wind turbine unit Siemens Gamesa , hoping to remove a complex ownership structure that has weighed on its shares. : Economic Times

Power cuts in Delhi amid heavy rain, strong winds

New Delhi : The national capital witnessed power cuts in several parts as heavy rain and gusty winds enveloped the city on Monday morning. : Economic Times

No penalty on imported coal-based power plants for default: Government

New Delhi : The government clarified on Saturday that imported coal-based power plants, which were directed to operate under an emergency legislation earlier this month, would not be penalised for default in case states do not offtake electricity and the average prices on power exchanges are inadequate. : Economic Times

UT makes move for EV charging stns at 44 sites

Chandigarh : In a push to launch its electric vehicle (EV) policy, the UT administration has initiated the process to install charging stations at 44 different locations in the city. : Economic Times

How robots can help build offshore wind turbines more quickly

New Delhi : The invasion of Ukraine has put the US and Europe on a wartime mission to abandon Russian fossil fuels. This series looks at speeding up zero-carbon alternatives by lowering political and financial barriers. Sign up here to get the next story sent to your inbox. : Economic Times

Greenko to supply green power to ArcelorMittal, Ayana Renewable, 3 states from Kurnool plant

New Delhi : Greenko Group will supply green power to ArcelorMittal, Ayana Renewable Power and three states from its 5,230 MW renewable energy plant being set up here, a top company official said. : Economic Times

Ather Energy to set up 8 more retail stores in Kerala to expand presence

New Delhi : Electric vehicle maker Ather Energy on Monday said it is all set to expand its retail presence in Kerala and plans to set up eight more retail stores amid a surge in demand for EVs in the Southern state. : Business Standard

Govt may invoke emergency powers to let power producers step out of PPAs

New Delhi : The government could invoke its emergency powers to make 40 GW domestic coal-based plants continue to generate power when they start blending imported coal even though their power purchase agreements (PPA) do not allow higher fuel costs to be passed on to the buyer. : Economic Times

Power demand eases amid cooling temperatures

New Delhi : The power crisis seems to have eased for now with demand falling amid cooling temperatures and rains in several parts of the country. : Mint

Delhi to flag off 150 e-buses on Tuesday; free 3 days rides for commuters

New Delhi : Delhi Chief Minister Arvind Kejriwal will flag off 150 electric buses on Tuesday, an official statement said, adding that commuters will get to travel free of cost in them for three days. : Business Standard

Ireland Auctions 80 New Wind And Solar Projects

New Delhi : Ireland recently auctioned 80 new wind and solar projects amounting to 1.9 GW. Chosen from among 130 renewable energy projects, the 80 new projects were awarded in Ireland’s latest Renewable Energy Support Scheme (RESS 2) auction. : saurenergy.com

ISA Signs Pact With Japan’s JICA, JBIC & NEDO To Develop Solar Energy

New Delhi : The Embassy of Japan in India has announced that a ‘Memorandum of Cooperation’ was signed between the Government of Japan, Japan Bank for International Cooperation (JBIC). : saurenergy.com

Vibrant Energy Strengthens Top Tier With Vinay Pabba As COO

New Delhi : Solar developer Vibrant Energy, a strong name in the C&I segment where it has pushed its opex model, has strengthened its senior management team. : saurenergy.com

Servotech Power Systems Ltd. Announces Results for FY22, Revenue rises 64% from FY21

New Delhi : Servotech Power Systems Ltd. (NSE: SERVOTECH), a prominent manufacturer of Solar, LED, medical-grade, and electric vehicle (EV) charging solutions, presented its annual financial results for the year ended March 31, 2022 at its Board of Directors meeting on May 20, 2022. : saurenergy.com

Daily News Wrap-Up: CEA Approves Setting Up Transmission for a Solar Project in Bikaner

New Delhi : The Central Electricity Authority (CEA) granted approval to lay transmission lines for a proposed 300 MW solar project of Renew Solar Energy (Jharkhand Four) in Bikaner, Rajasthan. The approval was granted for 25 years under section 164 of the Electricity Act, 2003. : mercomindia.com

Energy Storage Firm Stem Posts 166% Growth in Revenue, Secures Supply Chain for 2022

New Delhi : Stem, a smart energy storage company, posted revenue of $44.1 million in the first quarter (Q1) of 2022, a year-over-year (YoY) spike of 166% from $15.4 million in the same period last year. : mercomindia.com

Tenders Issued to Develop ISTS Network for Evacuating 18 GW of Renewable Power in Gujarat

New Delhi : REC Power Development and Consultancy Limited (RECPDCL) has issued four global tenders to build interstate transmission systems (ISTS) on a build, own, operate, and transfer basis at Khavda pooling station under Phase II- (Part A-D) in Gujarat. : mercomindia.com

Residential Solar Firm Sunrun’s Total Revenue Surges 48% YoY in Q1 2022

New Delhi : Sunrun, a U.S.-based residential solar, battery storage, and energy services company, announced financial results for the first quarter (Q1) of the calendar year (CY) 2022. : mercomindia.com

Kerala DISCOM Tenders to Procure 150 MW of Solar Power for Short-Term

New Delhi : Kerala State Electricity Board (KSEBL) has invited bids to procure 150 MW of solar power on a short-term basis to meet its Renewable Purchase Obligations (RPO) target for June 15, 2022, to March 31, 2023. : mercomindia.com

NHPC in talks with states for ₹62.4k cr storage plants push

New Delhi : State-run NHPC Ltd plans to set up 20.8 GW of pumped storage plants at an investment of around ₹62,400 crore in Maharashtra, Andhra Pradesh, Odisha, Jammu & Kashmir, Jharkhand and Mizoram to aid the country’s energy transition, according to the top executive at India’s largest hydropower firm. : Mint

Tata Power, Tata Motors to develop 7MWp solar rooftop

New Delhi : Tata Power and Tata Motors have collaborated to develop a 7 MWp solar rooftop project at the latter’s passenger vehicle plant in Chikhali, Pune. This is the third phase of a joint 17 MWp on-site solar project developed by the two companies, of which 10 MWp has already been installed, a company statement said. : Economic Times

BHEL back in black, Records 912 Cr profit in Q4

New Delhi : Bharat Heavy Electricals Limited (BHEL) has bounced back into the black in fiscal 2021-22 despite the 2nd wave of COVID impacting Q1 operations severely. Due to a strong focus on speeding up execution, cost control, prudent resource management, and improving service and quality standards, the company has not only achieved break-even in FY 21-22 but has also strengthened its balance sheet. : psuconnect.in

Siemens Energy sees ‘need for action’ in turbine unit takeover plan

New Delhi : Siemens Energy does not yet see signs of a recovery at wind turbine maker Siemens Gamesa, its chief executive said on Monday after launching a bid for minority holdings in the struggling unit. : Economic Times

India’s Mahindra to explore more partnerships for EV parts: CEO

New Delhi : India’s Mahindra and Mahindra will explore sourcing more components from other companies to boost its electric vehicle (EV) portfolio, its chief executive told Reuters. : Economic Times

BHEL Issues O&M Tender for NTPC’s 20 MW Solar Project in Gujarat

New Delhi : Bharat Heavy Electricals Limited (BHEL) has issued a notice inviting tender for the operation and maintenance (O&M) of NTPC’s 20 MW grid-connected solar power project at Gandhar in Gujarat for three years. : mercomindia.com

Work on transformers to begin next week, Agonda to get better power supply

New Delhi : Residents of Agonda, suffering due to low power voltage for years are likely to get relief as the work of installation of four electricity transformers will begin next week. : Economic Times

NMC to convert 10,000 autorickshaws to EVs

Nashik : The Nashik Municipal Corporation (NMC) has chalked out its plan to promote the use of electric vehicles (EVs) in the city as per the state government’s electric vehicle promotion programme. : Economic Times

States, power companies seek coal imports aggregator

New Delhi : State governments and developers of power projects have asked the Centre if coal can be imported through an aggregating agency – possibly Coal India (CIL) – for ease of purchase, cost pass-through, better prices, and faster execution. : Economic Times

How India could have averted power crisis

New Delhi : India could have averted the power crisis in April if progress towards the 175 GW renewable energy goal had been on track, a new analysis by think tank Climate Risk Horizons said on Friday. : Economic Times

AP should utilise investment potential of energy efficiency

New Delhi : The Union ministry of power-led Bureau of Energy Efficiency has suggested the Andhra Pradesh government utilise the opportunity of huge investment potential in the energy efficiency sector. BEE director general Abhay Bhakre, who recently visited the state, asked officials to prepare a roadmap to save 6.68 million tonnes of oil equivalent (Mtoe) by 2030. : Economic Times

Greenko to supply green power to ArcelorMittal, Ayana Renewable, 3 states

New Delhi : Greenko Group will supply green power to ArcelorMittal, Ayana Renewable Power and three states from its 5,230 MW renewable energy plant being set up here, a top company official said. : Business Standard

SJVN Chairman Nand Lal Sharma Flagged off Mini Marathon

New Delhi : Sh. Nand Lal Sharma Chairman & Managing Director, SJVN Flagged off Mini Marathon from HP Government Secretariat, Chhota Shimla. The Mini Marathon was organized to commemorate 35th Raising Day of SJVN under Azadi ka Amrit Mahotsav (AKAM). : psuconnect.in

Tata Motors and Tata Power Continue Cooperation To Expand Solar Rooftop With 7 MWp

New Delhi : Continuing with the push towards sustainable manufacturing Tata Power and Tata Motors have joined hands for the development of a 7 MWp solar rooftop project at Tata Motors’ Passenger Vehicle Plant in Pune. : saurenergy.com

High Power Bifacial Module Project Debuts in Jamnagar, Allowing GoodWe To Demonstrate Versatility

New Delhi : Jamnagar has got the first of what should be many upcoming Bifacial powered solar plants. : saurenergy.com

Uttarakhand, BPCL Sign Agreement for Renewable Energy Development

New Delhi : The state government of Uttarakhand has announced that it has signed a Memorandum of Understanding (MoU) with Central Government owned Bharat Petroleum Corporation Limited (BPCL) to boost the renewable energy sector in the state. : saurenergy.com

Bihar Signs Agreement with SECI; Rajgir, Gaya to Get 24X7 Green Power

New Delhi : The Bihar State Power Holding Company Limited (BSPHCL) has signed an agreement with the Central Government owned PSU – Solar Energy Corporation of India (SECI). : saurenergy.com

India says BRICS countries should explore cooperation in solar energy, climate resilience

New Delhi : Union Minister of Environment, Forest and Climate Change, Bhupender Yadav has suggested to the BRICS countries to explore cooperation in areas of solar energy, infrastructure, industry transition and climate resilience. : saurenergy.com

Canada Invests in Burchill Wind Project in Saint John

New Delhi : The Government of Canada is investing in renewable energy across the country and working with Indigenous partners to get major projects built. Wayne Long, Member of Parliament for Saint John–Rothesay. : saurenergy.com

These Four European Countries Have Set a 150 GW Offshore Wind Target

New Delhi : Germany, Belgium, the Netherlands and Denmark signed an agreement in Esbjerg on 18 May to produce offshore wind energy and green hydrogen equivalent to 65 GW by 2030 and 150 GW by 2050. : saurenergy.com

Energy Storage Solutions Provider Eos Energy’s Revenue Up by 6.5% QoQ in Q1 CY 2022

New Delhi : U.S.-based Eos Energy Enterprises, a sustainable zinc-based energy storage solutions provider, has announced the results for the first quarter (Q1) of the calendar year (CY) 2022. : mercomindia.com

Battery Company Solid Power Reports 358% YoY Increase in Revenue in Q1 2022

New Delhi : Solid Power, an all-solid-state rechargeable battery cells manufacturer, reported a revenue of $2.2 million in the first quarter (Q1) 2022, a 358% year-over-year (YoY) increase compared to $480,000 in Q1 2021. : mercomindia.com

Mercom India to Host First-of-its-Kind Clean Energy Event in Bengaluru

New Delhi : Mercom India is hosting its first event in the series, “C&I Clean Energy Meet 2022,” on June 3, 2022, in Bengaluru. The first-of-its-kind event will bring together commercial and industrial (C&I) large-capacity power consumers and clean energy companies to discuss, share, and collaborate on the benefits of going green and reducing energy costs. : mercomindia.com

Oil and Gas

” New Delhi : The OIL pavillion at NERC 2022 bagged the 1st prize in the professional organisation category showcasing E&P excellence. The award was given away by Shri Lok Ranjan, IAS, Secretary, Ministry of DoNER to the OIL team at the valedictory session.” : psuconnect.in

ONGC becomes 1st gas producer to trade on IGX

New Delhi : State-owned Oil and Natural Gas Corporation NSE -4.20 % (ONGC) on Monday said it has become the first gas producer to trade domestic gas on the Indian Gas Exchange, trading unspecified volumes from its eastern offshore KG-DWN-98/2 block. In a statement, ONGC NSE -4.20 % said it will increase volumes slowly. : Economic Times

GAIL’s ‘Hawa Badlo’ campaign wins yet another award

New Delhi : GAIL’s award winning campaign “Hawa Badlo” (ChangeTheAir) wins yet another prestigious “Trend setting Creative Marketing Campaigns category Award” at Media Manthan 2022 organised by Bharat Prakashan Ltd. : psuconnect.in

ONGC repairs damage Cyclone Tauktae caused to offshore installations

New Delhi : State-owned Oil and Natural Gas Corporation (ONGC) has repaired 100 offshore installations in the Arabian Sea that were damaged by Cyclone Tauktae a year ago, the company said. : Economic Times

Petrol under-recovery at Rs 13, diesel Rs 24; Reliance-BP says operations unsustainable

New Delhi : The joint venture of Reliance Industries Ltd and supermajor BP – has told the government that fuel retailing for the private sector in India has become unsustainable after market-controlling public sector firms frequently froze petrol and diesel prices at rates way below the cost, sources said. : Economic Times

” New Delhi : Oil and Natural Gas Corporation Ltd. (ONGC) has become the first Exploration and Production (E&P) company in India to trade domestic gas on Indian Gas Exchange. The first online trade was made on 23 May 2022 by ONGC Director (Onshore) In-charge Marketing Anurag Sharma on India’s first automated national level Gas Exchange, IGX. The gas traded is from ONGC Krishna Godavari 98/2 block.” : Sarkaritel.com

Iran and Oman agree to jointly develop shared oilfield

Dubai : Iran and Oman have agreed to form a committee to jointly develop the Hengam oilfield, which straddles both countries’ sea border, Iran’s semi-official Fars news agency reported its oil minister Javad Owji as saying on Monday. : Economic Times

Russia cuts off gas exports to Finland in symbolic move

Moscow : Russia halted gas exports to neighbouring Finland on Saturday, a highly symbolic move that came just days after the Nordic country announced it wanted to join NATO and marked a likely end to Finland’s nearly 50 years of importing natural gas from Russia. : Economic Times

How will petrol & diesel excise cuts, LPG subsidy impact OMC stocks?

New Delhi : In a bid to offer some relief on the inflation front, the government this weekend announced Rs 6-8 per litre cut in excise duties on petrol and diesel and a Rs 200 subsidy on LPG cylinders sold to PMUY customers, totalling 9 crores. : Economic Times

Oil prices at $110/bbl pose ‘bigger threats’ than inflation: Indian Oil Min

New Delhi : Indian oil minister Hardeep Singh Puri said oil prices staying at $110/barrel could pose bigger threats than inflation to the global economy. : Economic Times

INNOVATION: Mexican scientists develop new technology to clean up oil spills

New Delhi : Scientists at the National Autonomous University of Mexico have developed a new technique that can clean up oil as well as radioactive substances, fertilizers, drugs, and other pollutants dumped in the ocean. : Economic Times

BMW exploring energy investments to reduce dependence on natural gas

New Delhi : BMW is exploring new investments in solar, geothermal and hydrogen energy to lower its dependence on natural gas, the carmaker’s production chief told Reuters on Monday, warning an embargo on Russian gas would bring the industry to a standstill. : Economic Times

Rajasthan has costliest petrol and diesel in country, says Union minister Gajendra Singh Shekhawat

Jaipur : Union Jal Shakti Minister Gajendra Singh Shekhawat lashed out at chief minister Ashok Gehlot for providing the costliest petrol and diesel to the residents in the state on Sunday. He said that Gehlot should stop blaming the Central government and rather focus on providing relief to the people of the state. : Economic Times

India to have several gigawatts of green hydrogen electrolyser capacity in 5 yrs: Rajiv Menon, Black & Veatch

New Delhi : In an exclusive interview with ETEnergyWorld, Rajiv Menon, country manager and managing director – India, Black & Veatch, a US-based construction and consulting firm, said that he sees India becoming a world leader in green hydrogen production. : Economic Times

Oil spill on Kundapur beaches worries conservationists

Udupi : conservationists working towards turtle conservation were distraught, after they noticed tar balls and oil spills on the beaches of Kundapur. : Economic Times

Explained: Why Centre has announced steep excise duty cut on petrol, diesel

New Delhi : In a major relief to the common man, the Centre on Saturday announced a steep cut in excise duty of fuel which will effectively bring down petrol prices by Rs 9.5 per litre and diesel prices by Rs 7 per litre. : Economic Times

India mulls $13 billion extra borrowing to offset fuel-tax cut

New Delhi : India will probably borrow the entire Rs 1 lakh crore ($12.9 billion) that the government will forgo as revenues due to a cut in petrol and diesel levies, according to people familiar with the matter. : Economic Times

Restore normal supply of diesel, CIPD to OMCs

New Delhi : The Consortium of Indian Petroleum Dealers (CIPD) has requested the Oil Marketing Companies (OMCs) to restore normal supply of diesel without any rationing to avoid dry-outs. In a letter addressed to the Oil Industry Coordinator, CIPD president M Narayana Prasad said petroleum dealers were being pressurised by the OMCs to “be cautious” in the sale of fuels, diesel in particular. : Economic Times

Indian Oil introduces 5 kg ‘Chhotu’ door-to-door gas cylinder service

Lucknow : In a major relief to students living in paying guest houses, migrant labor, street vendors, under privileged, or anyone who does not have LPG connection in the city limits, the Indian oil has introduced 5 kg “Chhotu” door-to-door gas cylinder service. : Economic Times

SIAM seeks reduction in CNG prices

New Delhi : Auto industry body SIAM on Sunday sought a reduction in CNG prices while welcoming the government’s decision to lower the petrol and diesel prices. : Economic Times

Nayara fuel dealers to meet Mgmt today

New Delhi : Upset with Nayara Energy’s move to reduce diesel supply by 50%, representatives of dealers association from 11 states will be reaching Mumbai on Tuesday to meet the company’s management. : Economic Times

Amidst excise duty cut, reduction in state tax on petrol, oil cos hiked its base price: Kerala Finance Minister

New Delhi : The citizens have not received the full benefit of the cut in excise duty on petrol by the Centre and the consequent reduction, by Kerala, in the tax on the fuel due to an increase in its base price by oil companies, the state government claimed on Monday. : Economic Times

Aramco CEO Amin Nasser warns of global oil crunch due to lack of investment

New Delhi : The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. : Economic Times

Burden of fuel excise cut entirely on Centre, says FM Nirmala Sitharaman

New Delhi : Finance minister Nirmala Sitharaman on Sunday said the reduction in central taxes on petrol and diesel has been in road and infrastructure cess that is not shared with states, rebutting opposition’s criticism that the move will impact states’ share in central revenues. : Economic Times

Excise duty cut on petrol, diesel likely to put pressure on fiscal deficit, experts say

New Delhi : India’s excise duty cut on fuel products is expected to put pressure on the country’s fiscal deficit which is pegged at 6.4% of GDP for the current financial year FY23. These tax deductions will lead to a revenue loss of ₹1 lakh crore for the government. : Mint

The fallout of excise cut on petrol and diesel

New Delhi : The central government reduced the excise duty on petrol and diesel by ₹8 per litre and ₹6 per litre, respectively, to control surging retail inflation. This has led to prices of these fuels falling across the country. : Mint

Fuel duty cuts likely to help ease retail inflation by up to 25 bps

New Delhi : The Union government’s move to cut excise duty on petrol and diesel by Rs 8 and Rs 6 a litre, respectively, is likely to ease the retail inflation rate by up to 25 basis points (bps) from June onwards. : Business Standard

German chancellor kicks off trip to Senegal for gas exploitation project

New Delhi : German Chancellor Olaf Scholz said his country is interested in a major gas exploitation project in Senegal as he began a three-nation visit to Africa on Sunday that also is focused on the geopolitical consequences of the war in Ukraine. : Business Standard

Oil ticks higher as traders weigh tight fuel market, slow global growth

New Delhi : Oil rose at the start of the week as investors weighed tight product markets against concerns over slowing global growth. : Business Standard

ONGC became first Indian E&P company to trade domestic gas on Indian Gas Exchange

New Delhi : Oil and Natural Gas Corporation Ltd. (ONGC) has become the first Exploration and Production (E&P) company in India to trade domestic gas on Indian Gas Exchange. : psuconnect.in

Uttarakhand, BPCL Sign Agreement for Renewable Energy Development

New Delhi : The state government of Uttarakhand has announced that it has signed a Memorandum of Understanding (MoU) with Central Government owned Bharat Petroleum Corporation Limited (BPCL) to boost the renewable energy sector in the state. : saurenergy.com

Hunt begins for a private sector captain to run ONGC

New Delhi : The government is keen on seeking a private sector executive to head state-run ONGC NSE -4.20 % amid global energy inflation that lends urgency to the push for higher oil and gas production to reduce India’s import dependence, said people familiar with the matter. : Economic Times

HPCL, BPCL, IOC: Will OMC stocks remain under pressure on excise duty cut?

New Delhi : In a bid to provide relief to the common man, the Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol and diesel by Rs 8 and Rs 6 per litre over the weekend. The FM also announced a Rs 200 subsidy on LPG users under the Ujjwala Yojana Scheme. : Business Standard

IEA warns against energy crisis deepening fossil fuel reliance

New Delhi : The energy security crisis since Russia’s invasion of Ukraine must not lead to a deeper dependence on fossil fuels, International Energy (IEA) chief Fatih Birol said on Monday. : Economic Times

IndianOil Chairman interacts with India’s top Badminton stars

New Delhi : Mr. S M Vaidya, Chairman, Indian Oil yesterday interacted with India’s top Badminton stars. While interacting with them he said, “The magic of sports has always brought out the best of human courage, resilience and hope. : psuconnect.in

UK not ruling out energy windfall tax if investment not forthcoming: minister

London : The British government is not ruling out a windfall tax on oil and gas firms if the companies fail to invest their profits into boosting capacity soon, Chief Secretary to the Treasury Simon Clarke said on Monday. : Economic Times

Fuel prices go down, but hopes up for a further fall

Mumbai : A day after the prices of petrol and diesel dipped after the Centre slashed the excise duty on the fuel, the prices were set to go down further with the state government on Sunday slashing VAT on petrol by Rs 2.08 and on diesel by Rs 1.44. : Economic Times

Denmark’s Topsoe plans Europe’s largest electrolyser plant

New Delhi : Danish engineering group Topsoe plans to build Europe’s biggest plant making electrolysers – machines that produce the green hydrogen considered a cornerstone of the shift to cleaner energy. : Economic Times

Turkey dreams of far-fetched gas pipeline with Israel

Istanbul, Turkey : Turkey is ready for energy cooperation with Israel after years of enmity, reviving a project to pipe Israeli gas to Europe as Ankara seeks to reduce its dependence on Russia. : Economic Times

Poland terminates Yamal gas pipeline agreement with Russia

Warsaw : Poland decided to terminate an intergovernmental agreement with Russia on the Yamal gas pipeline, Polish Climate Minister Anna Moskwa said on Twitter on Monday. : Economic Times

Oil climbs in tight market as US driving season looms

Melbourne : Oil prices rose in early trade on Monday with US fuel demand, tight supply and a slightly weaker US dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fueled worries about a sharp slowdown in growth. : Economic Times

Germany wants Russian oil embargo with or without Hungary: economy minister

Berlin, Germany : German Economy Minister Robert Habeck is disappointed that the EU has not yet agreed to an oil embargo targeting Russia, he said in a radio interview, adding that Germany would be willing to forego Hungary’s participation to speed up the proposed ban. : Economic Times

Rosneft commemorates oilmen feat in World War II

Moscow : Rosneft, the leader of the Russian oil industry and one of the largest public oil and gas companies in the world, participated in All-Russia commemorations of the 77th Anniversary of Victory Day in the Great Patriotic War (“World War II” or “WWII”). : Economic Times

Swan Energy acquires 55 per cent stake in Veritas India

Mumbai : Swan Energy Limited (SEL) has acquired 55 per cent stake in petrochemicals and petroleum products manufacturing company Veritas (India) for Rs 172.52 crore, the company said today. : Economic Times

Demand side needs to be addressed in phase-II of hydrogen policy: Hetal Gandhi, CRISIL Research

New Delhi : In an exclusive interaction with ETEnergyWorld, Hetal Gandhi, director, CRISIL Research, talks to us about the intricacies of the green hydrogen market, latest technologies at work, her expectations from the yet to be released second phase of the hydrogen policy, and much more. : Economic Times

Deliberate OPEC-plus actions keeping oil on the boil

New Delhi : The rise of OPEC and the consolidation of the modern oileconomy after the disintegration of the Soviet Union in 1991 have witnessed global petroleum markets following one simple principle –– supply must match demand. This equation not only keeps the price of petroleum products in check, but also ensures that the world economy remains in balance. : Economic Times

Reducing losses: Nayara Energy set to ration diesel, compensate dealers

New Delhi : Rosneft-owned Nayara Energy has asked its dealers to ration sale of diesel to reduce per litre losses on the fuel. Till last week, oil companies said they were losing ₹25-28 per litre on sale of diesel and ₹8-10 on petrol. : Economic Times

Average US gasoline price jumps 33 cents to USD 4.71 per gallon

New Delhi : The average US price of regular-grade gasoline spiked 33 cents over the past two weeks to USD 4.71 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price jump comes amid higher crude oil costs and tight gasoline supplies. : Economic Times

Fuel a long-term strategy for oil now

New Delhi : GoI’s excise cut on fuels and increased cooking gas subsidy will help counter rising inflation. The factors driving inflation — supply chain disruptions caused by the war in Ukraine and pandemic lockdowns in China, as well as extreme weather events —remain unresolved. : Economic Times

Fuel dealers claim they are under pressure to curb sales, caution state-run OMCs against supply cuts

Mumbai : Dealers of retail outlets of state-run oil marketing companies (OMCs) have requested Indian Oil Corporation, Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) not to curtail fuel supply for retail sales to curb their losses. : Economic Times

Petrol dealers seek compensation for losses incurred due to fuel price drop

Nashik : The Centre’s decision to reduce the excise duty on petrol and diesel and the state’s reduction in VAT had an immediate impact on the prices at which these fuels were sold. : Economic Times

Fuel dealers to lose lakhs after excise duty cut

New Delhi : The government’s move to cut excise duty on petrol and diesel by ₹8 per litre and ₹6 per litre, respectively, has dealt a financial blow to fuel retailers who are already dealing with a curtailed fuel supply from refiners. : Economic Times

After Centre’s tax cut and three states following suit, here’s the impact on petrol, diesel prices in different cities

New Delhi : The government has reduced excise duty on petrol and diesel to ease the situation of higher prices for the common man. : Economic Times

Prices of petrol and diesel stay unchanged

New Delhi : Oil marketing companies (OMCs) kept the prices of petrol and diesel unchanged on Monday. The price of petrol in Delhi now is ₹96.72 per litre, while diesel is being sold for ₹89.62 a litre. : Mint

Oil prices firm on weak dollar, tight supply as US driving season looms

London : Oil prices gained on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth. : Business Standard

ONGC becomes 1st gas producer to trade on IGX; firm to expand volume slowly

New Delhi : State-owned Oil and Natural Gas Corporation (ONGC) on Monday said it has become the first gas producer to trade domestic gas on the Indian Gas Exchange, trading unspecified volumes from its eastern offshore KG-DWN-98/2 block. : Business Standard

Oil prices rise as US driving season looms; Shanghai mulls Covid unlock

New Delhi : Oil prices rose in early trade on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. : Business Standard

Oil prices little changed as recession worry offsets higher demand outlook

Houston : Oil prices were little changed on Monday, as worries over a possible recession offset an outlook for higher fuel demand with the upcoming U.S. driving season and Shanghai’s plans to reopen after a two-month coronavirus lockdown. : Business Standard

OMCs IndianOil, HPCL and BPCL can take their own decision, says Petroleum Minister on oil prices

New Delhi : India’s Union Minister for Housing & Urban Affairs and Petroleum & Natural Gas Hardeep Singh Puri said that the Oil Marketing Companies like Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) are to set the guel prices and can take the decision by their own. : psuconnect.in

Sarkaritel
By Sarkaritel May 24, 2022 06:34