MEDIA UPDATE (May 28, 2022)

Sarkaritel
By Sarkaritel May 28, 2022 06:44

MEDIA UPDATE (May 28, 2022)


28-May-2022

Power

” Varanasi : Dr. Mahendra Nath Pandey, Union Minister of Heavy Industries has laid the foundation stone of toilet complexes at twelve locations in Varanasi and Chandauli. The complexes are being built with the support of BHEL as part of its CSR program.” : Sarkaritel.com

PFC to Assist 4 Cr for Trauma Centre in MPTMC, Siddharthnagar

New Delhi : Maharatna PSU Power Finance Corporation Limited has signed a MoA to provide Financial Assistance of Rs. 4 Cr for the establishment of Trauma Centre in the premises of Madhav Prasad Tripathi Medical Hospital (MPTMC) , Siddharthnagar, Uttar Pradesh. : psuconnect.in

Power Ministry modifies norms for pass through of cost of imported coal

New Delhi : The Ministry of Power on Friday said it has modified norms for pass through of higher cost of imported coal used by domestic thermal plants having power supply agreements with discoms under tariff-based bidding. : Economic Times

CIL aims lofty target to produce 700 million tonne during FY-23

New Delhi : The government-owned coal mining company, Coal India Limited reported a coal production above 622 million tonnes in financial year 21-22 is targeting a heavy and good amount of coal in FY23. : psuconnect.in

NTPC Issues Tender for the Supply of EV Chargers

New Delhi : NTPC Vidyut Vyapar Nigam (NVVN) has issued an invitation for bids for the supply of electric vehicle (EV) chargers for the public charging infrastructure in cities under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) program. : mercomindia.com

BHEL Floats Tender for Galvanized Steel Structures for 9 MW of Solar Projects

New Delhi : Bharat Heavy Electricals Limited (BHEL) has invited bids for the supply of 650,000 kg of galvanized steel structures for 9 MW of solar projects across India. : mercomindia.com

G7 pledges to phase out coal power but without fixing date

Berlin, Germany : Ministers from the world’s richest democracies agreed on Friday to work to phase out coal-powered energy, although they failed to set a date for doing so, and said the energy crunch brought on by Russia-Ukraine war should not derail efforts to fight climate change. : Economic Times

Solar energy plants to come up in Banka, Jamui dists soon

Patna : A memorandum of understanding (MoU) was signed at Vidyut Bhavan here for installation of solar energy plants at Banka and Jamui with a combined production capacity of 200 MW, and the two plants will be ready by December next year. : Economic Times

Korean solar panel firm to hire 470 at $171M Georgia plant

New Delhi : A Korean solar panel maker announced Thursday that it will expand its presence in Georgia, building a new $171 million plant next to an existing factory in Dalton. : Economic Times

Zinc air batteries are viable and cost-effective solution to store renewable energy, says International Zinc Association chief

Washington : Zinc air batteries have the potential to provide a cost-effective and sustainable solution to storage of renewable energy, newly appointed Indian head of International Zinc Association has said. : Economic Times

Simple Energy defers deliveries of e-scooter amid rising fire incidents in EVs

Mumbai : EV maker Simple Energy has deferred the deliveries of its maiden electric scooter ‘Simple One’ to September, citing possible policy changes by the government in the wake of the recent incidents of fire in electric vehicles. : Economic Times

BGR Energy Systems loss widens to Rs 72 cr in March quarter on low revenues

New Delhi : BGR Energy Systems loss widened to Rs 72.37 crore in the March quarter mainly due to lower revenues. The consolidated net loss of the company stood at Rs 64.08 crore in the year-ago period, BGR Energy Systems said in a regulatory filing. : Business Standard

Govt set target to achieve 100 MT Coal Gasification by 2030

New Delhi : The Ministry of Coal organized the National Mineral Congress in Bhubaneswar today with the support of Power Ministry, Steel Ministry and Mines Ministry. : psuconnect.in

MNRE issues advisory for the General Public on PM Kusum Scheme

New Delhi : Ministry of New and Renewable Energy (MNRE) is implementing the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) Scheme, under which subsidy is provided for setting up of standalone solar pumps and for the solarization of agricultural pumps. : psuconnect.in

Power Ministry issues directions to Gencos; allows charge compensatory tariff for importing coal

New Delhi : Power Ministry has issued directions to Gencos using the powers under Section 11 of the Act today in the light of current circumstances due to a sharp increase in electricity demand. Ministry has stated that with soaring power demand and power shortage in some areas, the generation needs to be maximised. : psuconnect.in

ECIL Handed Over Mobile Health Clinic ‘Hospital on Wheels under CSR

New Delhi : ECIL under it’s CSR activities for FY 2021-22 had procured and Handed Over the Mobile Health Clinic (Hospital on Wheels)-2 No.’s to Medical Superintendents of Government Fever Hospital, Nallakunta and Government Ayurvedic Hospital, Erragadda, Hyderabad. : psuconnect.in

Volta to launch its Solid-State Batteries in 2023

New Delhi : Chinese battery major Volta Technology Limited has announced that it would roll out its solid-state batteries from its pilot production line in Shenzhen in early 2023. : saurenergy.com

Google Has Invested $3.5 B In RE Projects, Will Invest More Worldwide

New Delhi : Google is going to pursue new technologies that advance the clean energy mission and run 24/7. : saurenergy.com

Tunisia to invite bids for 2,000 MW of renewable energy

New Delhi : In order to reduce its dependence on fossil fuel imports, reduce carbon footprints and heighten the use of clean energy. : saurenergy.com

Egypt allocates 5,200 sq km area for renewable energy development

New Delhi : Just after the government official in Egypt revealed that the country will be producing some 10,000 MW of renewable energy next year, : saurenergy.com

Ireland Counts On Battery Storage For Energy Transition

New Delhi : Ireland is going to capitalise on its expertise in operating an isolated grid by developing new battery technology. : saurenergy.com

MNRE Invites Proposals for Indigenous Technologies to Scale Renewable Deployment

New Delhi : The Ministry of New and Renewable Energy (MNRE) has invited proposals under the ‘Renewable Energy Research and Technology Development Program, 2022’ to promote the competitive development of indigenous technologies for the widespread deployment of new and renewable energy. : mercomindia.com

Average Cost of Large-Scale Solar Projects up 19% Year-over-Year

New Delhi : The average cost of large-scale solar projects in the first quarter (Q1) of the calendar year (CY) 2022 was approximately ₹43.5 million (~$560,512)/MW, according to Mercom’s recently released Q1 2022 India Solar Market Update. : mercomindia.com

Mangalore Special Economic Zone Issues Tender for 4 MW of Rooftop Solar Systems

New Delhi : Mangalore Special Economic Zone Limited (MSEZL) has invited proposals to install 4 MW of grid-connected rooftop solar systems to supply power for 25 years on a fixed tariff basis through a third-party-owned model. : mercomindia.com

US, Germany to boost cooperation on shift to clean energy

Berlin, Germany : The United States and Germany signed an agreement Friday to deepen their cooperation on shifting from fossil fuels to renewable energy in an effort to rein in climate change. : Economic Times

Rs 2 crore from green tax to go into BMTC charging station

Bengaluru : The government has earmarked Rs 2 crore out of revenue generated from ‘green tax’ collection for establishing a charging station for BMTC electric buses. : Economic Times

Govt invokes emergency clause to allow compensation for 32 Gw domestic coal based plant

New Delhi : The government has invoked an emergency clause to allow compensation to 32 Gw domestic coal-based power projects for higher costs due to blending of imported coal till March next year. : Economic Times

Waaree Energies gets NCLT approval to acquire Indosolar

New Delhi : lhi: Solar module maker Waaree Energies on Friday said it has received the National Company Law Tribunal’s approval to acquire Indosolar Ltd. : Economic Times

ReNew Power’s Sumant Sinha on inflation, SMEs and the impact of Davos

New Delhi : We have pretty good growth plans, we are of course in line with the Indian Government’s plans to add a lot of capacity in India. Both Karnataka and Maharashtra are two of the most resource bridge states with good wind as well as good solar resources. : Economic Times

PSPCL places order for 1.5L tonnes of coal from Indonesia

Patiala : Ahead of the paddy season, the Punjab State Power Corporation Limited (PSPCL) has initiated the proceedings to purchase imported coal that is expected to reach the state by mid-June. : Economic Times

Uttar Pradesh government pushes reforms in energy sector with Rs 31,000 crore scheme

Lucknow : The state government in its budget of 2022-23 announced an ambitious ‘Revamped Distribution Sector Scheme’, a reform-based and result-linked scheme with an outlay of Rs 31,000 crore in association with the central government. : Economic Times

Goa’s ferry boats to operate on solar power

New Delhi : Goa’s iconic river ferry boats will soon go for a makeover with the government mulling solar power driven ferries for river transport. : Economic Times

India asks power producers to seek weekly payments to manage pricey coal imports

New Delhi : India has asked power producers to bill electricity buyers every week to ensure adequate cash flow as costs surge due to higher imports of expensive coal, according to a federal power ministry letter seen by Reuters. : Economic Times

Power Minister for robust resettlement, rehabilitation plan to boost hydro projects

New Delhi : lUnion Power Minister R K Singh on Thursday stressed on the need for a robust resettlement and rehabilitation plan to boost the development of hydro power projects. Singh expressed his views during a meeting of the Parliamentary Consultative Committee attached to the Ministry of Power, the ministry said in a statement. : Economic Times

Tesla submits application to expand German plant

Berlin, Germany : Tesla has submitted an application to build on a further 100 hectares east of its plant in Germany, expanding the site’s area by a third, local newspaper rbb reported on Thursday, citing the local mayor. : Economic Times

MNRE issues advisory for the General Public on PM Kusum Scheme

New Delhi : Ministry of New and Renewable Energy (MNRE) is implementing the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) Scheme, under which subsidy is provided for setting up of standalone solar pumps and for the solarization of agricultural pumps. : Sarkaritel.com

Japan reiterates plan to cut reliance on coal

Tokyo, Japan : Japan reiterated on Friday its policy to reduce reliance on coal-fired electricity generation as much as possible, with plans to phase out inefficient coal power plants towards 2030. : Economic Times

Tariff-based power projects to be compensated for running plants using imported coal

New Delhi : The government has decided to compensate competitive tariff-based power projects for operating at full capacity using expensive imported coal. : Mint

Govt issues directions to coal-based plants with PPA via tariff-based bids

New Delhi : The government on Friday issued directions to gencos in the light of current circumstances due to sharp increase in electricity demand. : Mint

Tunisia to launch international tenders for 2,000 MW of renewable power

New Delhi : Tunisia plans to launch international tenders in June this year seeking offers to build 2,000 megawatts of renewable electric power capacity, energy minister Naila Nouira said on Thursday, part of efforts to cut the country’s natural gas imports. : Economic Times

INNOVATION: Trial run of 2-KW solar tree begins on ITI campus

New Delhi : The trial run of the 2-KW solar tree system, which the students of the government-run industrial training institute (ITI) have installed on its campus here, began on Thursday. : Economic Times

Lease terms for California offshore wind projects released

New Delhi : The Biden administration has released the lease terms for offshore wind projects that would place hundreds of turbines in California’s coastal waters – the first such project off the nation’s Pacific coast. : Economic Times

Hitachi Energy India net profit up 31% to Rs 52 cr in March quarter

New Delhi : Hitachi Energy India on Friday posted an over 31 per cent rise in net profit to Rs 51.68 crore for the March quarter, mainly on the back of higher revenues. : Business Standard

SJVN signed PPA for 200 MW Solar Power Project in Bihar

New Delhi : Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN informed that SJVN has signed a long-term Power Purchase Agreement (PPA) for 200 MW Grid Connected Solar Power Project in Bihar. : psuconnect.in

Dr.Anesh Kumar Sharma has assumed the charge of Director (Technical) of ECIL

New Delhi : Dr. Anesh Kumar Sharma has assumed the charge of Director (Technical) of ECIL w.e.f. 27.05.2022. Before joining ECIL, he was working as Scientist ‘G’ and Project Director, NASM – SR at RCI, DRDO, Hyderabad. : psuconnect.in

SolarEdge Opens 2GWh New Battery Cell Facility in South Korea

New Delhi : SolarEdge Technologies, Inc. (“SolarEdge”), the Israel-based inverter major and SolarEdge’s subsidiary, Kokam Limited Company. : saurenergy.com

TotalEnergies takes 50% stake in Clearway

New Delhi : Leading french energy player, TotalEnergies, has announced that it is acquiring a 50% stake in Clearway Energy Group. : saurenergy.com

EU’s New Energy Plans Include Mandatory Solar Panels On New Buildings

New Delhi : The European Union has recently decided to rapidly end its reliance on Russian oil and gas by making it. : saurenergy.com

IKEA Geared Up To Enter Into US Residences With Solar

New Delhi : IKEA will deploy residential solar systems in the United States this fall competing with Tesla in the future. : saurenergy.com

Global trailblazers offer inclusive off-grid solutions

New Delhi : The shortlists for the annual Ashden Awards highlight a new crop of grassroots renewable energy solutions. : saurenergy.com

Daily News Wrap-Up: SECI Annuls Tender for a 5 MW Solar Project in Tuticorin

New Delhi : Solar Energy Corporation of India (SECI) announced the annulment of the tender it had issued to develop a 5 MW grid-connected ground-mounted solar power project at V. O. Chidambaranar Port Trust in Tuticorin, Tamil Nadu. : mercomindia.com

Green Energy Corridor, Rooftop Solar, Solar Pumps Proposed in Uttar Pradesh Budget

New Delhi : The Uttar Pradesh Government has announced the budget for the financial year (FY) 2022-23 and allocated funds for renewable energy project development in the state. : mercomindia.com

Tata Power Commissions a 100 MW of Solar Project at ₹2.90/kWh for MSEDCL

New Delhi : Tata Power Renewable Energy Limited (TPREL), a wholly-owned subsidiary of Tata Power, announced the commissioning of the 100 MW solar project for the Maharashtra State Electricity Distribution Company Limited (MSEDCL) in Partur town of Maharashtra. : mercomindia.com


Oil and Gas

” New Delhi : GAIL (India) Limited recorded 62% increase in Revenue from Operations to Rs. 91,646 crore in FY22 as against Rs. 56,738 crore in FY21, Profit before Tax (PBT) increased by 113% to Rs. 13,590 in FY 22 crore as against Rs. 6,386 crore in FY21.” : Sarkaritel.com

GAIL open to buying Russian oil and gas assets, says Chairman Manoj Jain

New Delhi : India’s largest gas transmitter GAIL is open to buying Russian oil and gas assets shunned by Western companies after Moscow’s invasion of Ukraine, the company’s chairman Manoj Jain said on Friday. : Moneycontrol.com

GAIL Q4 Results: Net jumps 40% on higher gas margins

New Delhi : State gas utility GAIL India Ltd NSE -5.56 % on Friday reported a 40 per cent jump in its March quarter net profit as margins on natural gas sales rose. Net profit in January-March at Rs 2,683.11 crore was higher than Rs 1,907.67 crore in the same period a year back, according to the company’s regulatory filing. : Economic Times

GAIL net profit jumps 40% on higher gas margins

New Delhi : State gas utility GAIL India Ltd on Friday reported a 40 per cent jump in its March quarter net profit as margins on natural gas sales rose. : Financial Express

GAIL Q4 profit rises 41% to ₹2,683 cr, approves dividend

New Delhi : State-owned GAIL (India) Ltd. on Friday posted standalone net profit of ₹2,683 crore for the January-March period, rising 41%, compared with ₹1,907 crore a year ago. : Mint

GAIL says no disruption in Russian LNG supplies due to sanctions

New Delhi : India’s largest gas firm GAIL is getting regular supplies of LNG under a long-term deal with Russia’s Gazprom despite the geopolitical crisis, the firm’s chairman and managing director Manoj Jain said on Friday. : Moneycontrol.com

GAIL net profit up 40% on back of margin boost in natural gas sales

New Delhi : State gas utility GAIL India Ltd on Friday reported a 40 percent year-on-year (YoY) jump in net profit at Rs 2,683.11 crore for the fourth quarter ended March 31, 2022. : cnbc.com

GAIL Q4 net profit jumps 40% to Rs 2,683.11 crore on higher gas margins

New Delhi : State gas utility GAIL India Ltd on Friday reported a 40 per cent jump in its March quarter net profit as margins on natural gas sales rose. Net profit in January-March at Rs 2,683.11 crore was higher than Rs 1,907.67 crore in the same period a year back, according to the company’s regulatory filing. : Business Standard

GAIL Q4 results: Net profit jumps 41% to Rs 2,683 cr, final dividend declared

New Delhi : State-owned GAIL (India) Ltd on Friday reported a 40.6 per cent surge in its standalone net profit at Rs 2,683.11 crore for the fourth quarter ended 31 March, 2022 as margins on natural gas sales rose. The company had posted a net profit at Rs 1,907.67 crore for the year-ago period. : Business Today

Gail expects LNG prices to stay firm over next 18 months

New Delhi : State-run Gail (India) Ltd expects spot prices of liquefied natural gas (LNG) to remain firm over the next one-and-a-half years, a senior company executive said on Friday. : Mint

GAIL says no disruption in Russian LNG supplies due to sanctions

New Delhi : India’s largest gas firm GAIL is getting regular supplies of LNG under a long-term deal with Russia’s Gazprom despite the geopolitical crisis, the firm’s chairman and managing director Manoj Jain said on Friday. : Economic Times

Gail open to buying Russian oil and gas assets: Chairman

New Delhi : Government-owned Gail is open to buying Russian oil and gas assets rejected by the major Western economies after the Kremlin’s invasion of Ukraine. Gail has recorded strong earnings for the quarter ending March 31, 2022 (Q4FY22) period. : Mint

GAIL says it’s open to buying Russian oil-gas assets if offered good deal

New Delhi : India’s largest gas transmitter GAIL is open to buying Russian oil and gas assets shunned by Western companies after Moscow’s invasion of Ukraine if the deal made commercial sense, the company’s Chairman Manoj Jain said on Friday. : Business Standard

GAIL’s PAT jumps by 112% to Rs. 10,364 cr for FY22

New Delhi : GAIL India Ltd recorded 62% increase in Revenue from Operations to Rs. 91,646 crore in FY22 as against Rs. 56,738 crore in FY21, Profit before Tax (PBT) increased by 113% to Rs. 13,590 in FY 22 crore as against Rs. 6,386 crore in FY21. : psuconnect.in

” New Delhi : Oil India Board in its 532nd Board Meetingheld on 27th May’2022 approved the Q4 FY 2021-22 results. Details of Q4 FY 2021-22 and for the year ended March’2021-22 results.” : Sarkaritel.com

Oil India reports record profit on oil price surge

New Delhi : State-owned Oil India Ltd. on Friday reported its highest-ever quarterly net profit in the three months to March as it got almost $100 per barrel price for oil produced and sold. : Hindu

Oil India reports high-ever profit on oil price surge

New Delhi : State-owned Oil India Ltd on Friday reported its highest-ever quarterly net profit in the three months to March as it got nearly $100 per barrel price for oil produced and sold. : Times of India

Oil India records highest ever net profit of over ₹3,887 crore in FY22

New Delhi : Government-owned Oil India records the highest ever net profit of ₹3,887.31 crore for the financial year FY22 – rising by 123.20% from the profit of Rs1741.59 crore of the previous fiscal. : Mint

Oil India reports highest-ever profit due to high fuel, gas prices

New Delhi : State-owned Oil India Ltd on Friday reported its highest-ever quarterly net profit in the three months to March as it got nearly USD 100 per barrel price for oil produced and sold. : Business Standard

Oil India records highest ever profit in 2021-22 due to high fuel, gas prices

New Delhi : Oil India Limited (OIL) has posted a net profit of Rs 3,887.31 crore for the year ended March 2022, which is 123.20 per cent higher when compared with Rs 1741.59 crore profit recorded in the previous year. : theprint.in

Dividends for Indian oilcos stuck in Russia

New Delhi : Dividends of around 8 billion owed to a consortium of Indian oil companies are stuck in Russia as the country has barred dollar repatriation amid the Ukraine conflict, said an Oil India Ltd (OIL) official. : Mint

G7 calls on Opec to play key role to ease global energy supplies

New Delhi : Ministers from the Group of Seven countries on Friday called on Opec to act responsibly to ease a global energy crunch brought on by the Russian invasion of Ukraine, even as they announced a breakthrough commitment to phase out coal-fuelled power. : Business Standard

More Russian oil than ever before heading for China, India amid sanctions

New Delhi : A record volume of Russian oil is on board tankers, with unprecedented amounts heading to India and China as other nations restrict imports because of the war in Ukraine. : Business Standard

Crude oil prices increase supported by the prospect of a tight market

Houston : Oil prices rose on Friday, as signs of a tight market supported prices ahead of the U.S. Memorial Day holiday weekend, the unofficial start of the peak summer demand season in the United States. : Business Standard

Oil India records highest ever profit in 2021-22 due to high fuel, gas prices

New Delhi : Oil India Restricted (OIL) has posted a internet revenue of Rs 3,887.31 crore for the 12 months ended March 2022, which is 123.20 per cent greater when put next with Rs 1741.59 crore revenue recorded within the earlier 12 months. : theprint.in

” New Delhi : Shrikant Madhav Vaidya, Chairman – IndianOil, presented the tenure-based engagement letter to Grand Master Rameshbabu Praggnanandhaa in a glittering event held at Chennai in the presence of senior IndianOil officials and Grand Master Sasikiran, Grand Master Karthikeyan Murali, Grand Master R B Ramesh – Coach of Praggnanandhaa and other dignitaries.” : Sarkaritel.com

ONGC to intensify its Exploration Program; investment in exploration to be 150% over next 3 years

New Delhi : ONGC held its 349th Board Meeting on 26th May 2022 exclusively for firming its Future Exploration Strategy. The Company has drawn up a comprehensive roadmap to further intensify its exploration campaign, allocating a capital expenditure of about Rs.31,000 crore in the next three fiscal years during FY 2022-25. : psuconnect.in

8 bn rubles of Indian oil companies stuck in Russia, says officials

New Delhi : As much as 8 billion rubles (about Rs 1,000 crore) of dividend income belonging to Indian oil firms is stuck in Russia after the Putin administration clamped down on dollar repatriation, officials said on Friday. : Business Standard

RIL, HPCL-Mittal Energy, Jindal group among JBF Petro suitors

New Delhi : Reliance Industries, an HPCL-Lakshmi Mittal joint venture and two Jindal group companies are among seven entities that have shown interest in buying bankrupt JBF Petrochemicals, a purified terephthalic acid (PTA) manufacturer with outstanding debt of ₹4,700 crore, according to multiple sources. : Economic Times

More Russian oil than ever before is heading for India, China

New Delhi : A record volume of Russian oil is on board tankers, with unprecedented amounts heading to India and China as other nations restrict imports because of the war in Ukraine. : Economic Times

Oil companies should raise dealers’ commission: Petrol pump association

New Delhi : Oil companies should raise dealers’ commission on the sale of petrol and diesel to 5 per cent of retail price as operating costs have risen, All India Petrol Pump Dealers Association (AIPDA) has said. : Economic Times

Sri Lanka allows private companies to import fuel: Minister

Columbo : Sri Lankan government has allowed private companies to import fuel, Power and Energy Minister Kanchana Wijesekera said on Friday, a move aimed at easing the burden on cash-strapped state-run fuel retailer Ceylon Petroleum Corporation (CPC). : Economic Times

Oil spills into Paradip farmlands as pipeline bursts

Bhubaneswar : A major disaster was averted at the port town of Paradip in Odisha’s Jagatsinghpur district on Thursday after the Indian Oil’s Paradip-Haldia pipeline burst near the refinery there. It took the Indian Oil Corporation Limited (IOCL) more than four hours to repair the damaged pipeline. : Economic Times

Chile signs agreements for green hydrogen production

New Delhi : Chile state development office Corfo signed agreements with three companies on Thursday to fund industrial green hydrogen production, which it says could double current production worldwide. : Economic Times

UK tax plan incentivizes oil, gas producers to pump more fossil fuels

London : The British government’s 5 billion pound ($6.29 billion) windfall tax plan for oil and gas producers includes an incentive for those producers to pump more fossil fuels, riling climate activists who had called for the tax. : Economic Times

Russia’s Gazprom says board recommends record dividend

New Delhi : Russian gas giant Gazprom said on Thursday its board was recommending a dividend of 52.53 roubles per share on its 2021 results, up from 12.55 roubles for the previous year. : Economic Times

High gas prices, energy security fears impede decarbonisation push

New Delhi : Energy security has become a top priority for importers as forecasts of tighter gas supplies and volatile prices in the next few years are keeping buyers on edge and impeding the push towards decarbonisation, energy executives said. : Economic Times

Italy’s Eni pens new Algerian gas deal

Rome, France : Italian energy giant Eni signed a memorandum of understanding Thursday with Algeria’s Sonatrach to boost gas exploration in the north African nation, as Rome seeks to reduce its reliance on Russia. : Economic Times

Cash-strapped Sri Lanka takes Russia oil as fuel crisis persists

New Delhi : Sri Lanka is receiving Russian crude oil that it will use to make fuel as the bankrupt nation faces crippling shortages of everything from gasoline to diesel. : Business Standard

Oil prices linger near two-month high amid global supply concerns

New Delhi : Oil prices hovered around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the coming summer driving season in the United States. : Business Standard

Norway oil and gas firms raise 2022 investment forecasts

Oslo : Norway’s oil and gas companies have raised their investment forecasts for 2022 as they take advantage of high petroleum prices and tax incentives to boost activity, a national statistics office (SSB) survey showed on Friday. : Economic Times

EU may clinch summit deal to sanction Russian oil shipments, says official

New Delhi : European Union countries are negotiating a deal on Russian oil sanctions that would embargo shipment deliveries but delay sanctions on oil delivered by pipeline to win over Hungary and other landlocked member states, officials said on Friday. : Business Standard

Indian-origin man jailed for accepting bribe at Shell’s Singapore refinery

Singapore : An Indian-origin man was among three surveyors who were jailed for four to eight months on Thursday by a Singapore court for accepting bribes to cover up the unauthorised transfer of marine gas to vessels that were supplied to oil giant Shell. : Economic Times

Offshore oil rig rates lifted by pandemic recovery, race to replace Russian crude

Oslo : Rental rates for offshore oil and gas rigs have rocketed higher, boosted by a race to lift production because of the war in Ukraine and a recovery in demand after the COVID-19 pandemic. : Economic Times

Russia’s Transneft rebuffs Rosneft claim in contaminated oil dispute

New Delhi : Russia’s oil pipeline operator Transneft said on Thursday it had received what it called an unacceptable claim from Rosneft for damages related to the 2019 contamination of a major export pipeline. : Economic Times

OPEC+ set to stick to modest output hike for July, sources say

New Delhi : OPEC+ is set to stick to an oil production deal agreed last year at its meeting on June 2 and raise July output targets by 432,000 barrels per day, six OPEC+ sources told Reuters, rebuffing Western calls for a faster increase to lower surging prices. : Economic Times

Numaligarh Refinery Limited gives 2.5cr to CM’s Relief Fund

Guwahati : The public sector Numaligarh Refinery Limited contributed an amount of Rs 2.5 crore to the Assam Chief Minister’s Relief Fund to aid the state government’s relief efforts to tackle the large-scale devastation caused by the floods in the state. : Economic Times

Enbridge to deliver natural gas to Venture Global’s LNG facility

New Delhi : Canadian energy company Enbridge Inc said on Thursday it would build a pipeline project to supply natural gas to Venture Global LNG’s Plaquemines liquefied natural gas (LNG) export facility in Louisiana. : Economic Times

Morgan Stanley’s shareholders vote against proposal on fossil fuels

New York : Morgan Stanley’s shareholders voted on Thursday against a proposal aiming to stop lending to new fossil fuel projects, in line with the bank’s board of directors orientation. : Economic Times

Petrol dealers‘ body seeks reimbursement of losses post excise duty cut

New Delhi : All India Petroleum Dealers Association (AIPDA) has asked the Centre form a mechanism for fuel pumps to clam the losses they incurred after the recent excise duty cut. : Mint

Sarkaritel
By Sarkaritel May 28, 2022 06:44