MEDIA UPDATE (OCTOBER 06, 2022)

Sarkaritel
By Sarkaritel October 6, 2022 06:28

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06-Oct-2022

Power

Coal India asked to enhance supply to thermal power plants

New Delhi : With the festival season round the corner, Coal India Ltd has been directed by the government to scale up dispatch to thermal power plants. : Economic Times

EVs add to electricity demand, but not as much as you might think

New Delhi : California recently asked homeowners to reduce electricity consumption to help avoid blackouts as temperatures soared and the power system struggled to keep up. : Economic Times

Renewables grow to meet global electricity demands: study

Paris, France : Electricity generation from fossil fuels would have risen by four percent if not for boosts in wind, solar and hydropower as the world’s energy demand grew in the first half of 2022, a study found Wednesday. : Economic Times

India’s Greenko co-founder keen to return to London market

New Delhi : Greenko Group, one of India’s largest renewable energy companies, hopes to list in London in the future as it builds the world’s largest integrated grid-scale renewable energy storage project in the southern state of Andhra Pradesh. : Economic Times

Nepal proposes selling an additional 222 MW of electricity to India

New Delhi : Nepal has proposed selling an additional 222 MW of electricity to India as it is facing losses of up to 800 MW daily due to increasing electricity generation within the Himalayan nation and decreasing domestic demand. : Economic Times

Govt may lease out sea floor for offshore wind projects

New Delhi : India is considering leasing out its ocean floor straddling Tamil Nadu to offshore wind farms, with the base amount set at ₹1 lakh per sq km, to help it hit net zero emissions by 2070. : Mint

Coal revival may push power sector’s carbon emissions to record high

New Delhi : Global carbon emissions from power plants may be headed for a record high this year after summer droughts and heatwaves boosted coal- and natural gas-fired generation. : Business Standard

NTPC Korba Celebrates Navratri with religious fervor

New Delhi : Devotees performing dhunuchi aarti with dhaak and loban, people performing garba dance amidst twinkling lights, such scenes were seen in the ongoing Navratri festival in the premises of NTPC Korba. : psuconnect.in

11 of 23 thermal plants in Rajasthan stop electricity production signalling impending power crisis

Jaipur : As many as 11 out of 23 thermal power plants in Rajasthan have stopped producing electricity due to coal shortage, indicating a severe impending power crisis in the state. The Rajasthan Urja Vikas Nigam Ltd (RUVNL), as a result, is facing a shortage of nearly 5,000 MW of electricity. : timesnownews

Default power subsidy in Delhi to continue till October 31: AAP govt

New Delhi : The Delhi government has extended the default electricity subsidy by one more month (till October 31). It means that consumers who failed to opt in for the subsidy till September 30 will also get free electricity up to 200 units in October as well as 50% subsidy on the consumption of below 400 units per month. : Hindustan Times

450 coal-fired units closed in Panipat

New Delhi : As 450-plus coal-based factories of Panipat stalled on Saturday, the Commission for Air Quality Management’s (CAQM) guidelines about the use of industrial generators pressed the panic button among thousands of micro, small, and medium enterprises (MSMEs) in the National Capital Region (NCR). : Economic Times

Energy regulator proposes firms give free solar power to discoms

Jaipur : Last month, the Rajasthan Electricity Regulatory Commission (RERC) while issuing the tariff order for 2022-23 advised the state government to consider framing rules for mandating solar power generators who are taking energy outside the state to provide 10% free power to the state’s Discoms. : Economic Times

Growth in renewables slowing down rise in fossil fuel power generation in India: Report

New Delhi : The growth in wind and solar power capacity restricted the expansion in fossil fuel electricity generation in India by 3 percentage points in the first half of 2022, according to a report. : Economic Times

Power restored in Bangladesh after 96 million suffer blackouts

New Delhi : Power was being restored across Bangladesh after the worst blackouts since 2014 cut supply to half the country, disrupting hospitals to road traffic and internet networks. : Mint

Russia takes over operations at Europe’s largest nuclear plant

New Delhi : Moving on with his plans to autonomously operate the annexed Ukrainian regions, Russian President Vladimir Putin on Wednesday ordered his government to take over operations at Europe’s largest nuclear power station in southern Ukraine’s Russia-annexed region of Zaporizhzhia. : Mint

Waaree Energies raises ₹1,000 crore

New Delhi : Solar panel manufacturer Waaree Energies Ltd has raised nearly ₹1,000 crore from high net-worth individuals and family offices to expand production capacity for solar modules and foray into solar cell manufacturing, chief financial officer Hitesh Mehta said. : Mint

Power outage hits major parts of Bangladesh as national grid collapses

New Delhi : Power outage has hit several areas of Bangladesh, including capital Dhaka, port city of Chattogram and Sylhet, due to a collapse of the South Asian country’s national grid. : Business Standard

Adani, Tata Power plan to raise $1.3 bn in green bonds for new projects

New Delhi : Adani Green Energy (Adani Green) and Tata Power are planning on raising funds via green bonds to finance their new projects. While Adani Green is intent on raising $1 billion via green bonds, Tata Power is in the process of raising $320 million via sustainability-linked loans, say bankers. : Business Standard

Power Minister reviews progress of captive coal mine blocks allocated to GENCOS

New Delhi : Minister for Power & New and Renewable Energy, Shri R K Singh chaired a review meeting today on the progress of captive coal mine blocks allocated to GENCOS and their coal production schedules. : psuconnect.in

India may start leasing out sea floor for offshore wind projects: Report

New Delhi : In a bid to achieve India’s net zero emissions by 2070, the central government is leasing out the ocean floor around Tamil Nadu to offshore wind farms. The base rate has been fixed at Rs 1,00,000 per square km, according to a report in Mint. : Business Standard


Oil and Gas

Fuel price update: Check rates of petrol, diesel in Odisha on October 5

New Delhi : Petrol and diesel prices vary depending upon several factors such as the local taxes, VAT, freight charges, etc. The prices of petroleum products change as per market rates. Public sector OMCs like BPCL, IOCL and HPCL revise the fuel prices daily in line with international benchmark prices and foreign exchange rates. : odishatv.in

OVL plans $1 bn investment in offshore Petrobras block

New Delhi : State-run ONGC Videsh Ltd (OVL) is looking to invest around $1 billion in a Brazilian offshore hydrocarbon block and also raise its stake, a person aware of the development said, in the latest Indian effort to strengthen energy security. : Mint

RIL bats for no caps on domestic gas price as govt panel seeks review

New Delhi : Mukesh Ambani-led Reliance Industries (RIL) has asked a government-appointed panel to desist from putting price caps on domestically produced natural gas, arguing that any such move would be retrograde and would delay investments in fuel production. : Business Standard

OPEC+ weighs large oil cutback to boost sagging global oil prices

Frankfurt : The OPEC+ alliance of oil-exporting countries on Wednesday will debate a potentially large cut in the amount of crude it ships to the global economy. : Economic Times

JP Morgan expects OPEC+ oil output cut with or without agreement

New Delhi : JP Morgan on Wednesday said OPEC+ oil-producing countries would cut production with or without an agreement at their meeting later in the day, with prices likely to retest $100 a barrel in the fourth quarter due to a supply deficit. : Economic Times

Indian refiners scout for oil deals ahead of EU ban on Russian crude

New Delhi : Indian state refiners plan to lock-in more of their crude supplies in term deals, worried that tighter Western sanctions on Russia, including from the EU, could curb future supplies in already tight markets, sources at state refiners said. : Economic Times

Global oil spare buffers to slump when China reopens: Aramco’s CEO Amin Nasser

New Delhi : The world’s biggest oil company reiterated its warning that producers’ spare capacity is running low and said there wouldn’t be any left once China ends its Covid Zero strategy. : Economic Times

OPEC+ tries to keep oil above $90 with large production cut

New Delhi : OPEC+ agreed to cut its collective output limit by 2 million barrels day as it seeks to halt a slide in oil prices caused by the weakening global economy. : Mint

Russia warns of consequences for price cap on its oil

New Delhi : The European Union’s plan to impose a price cap on Russian oil as part of fresh sanctions on the country for its war on Ukraine can have a ‘detrimental effect’ on global oil markets, a Russian minister warned on Wednesday. : Mint

Oil maintains most of recent gains asf OPEC+ heads for deep supply cuts

New Delhi : Oil inched lower on Wednesday after gains in recent days as OPEC+ producers looked set to agree deep output target cuts later in the day despite a tight market. : Business Standard

Oil rises to 3-week high as OPEC+ agrees to deep cuts, US stockpiles fall

New Delhi : Oil prices rose on Wednesday to three-week highs, as OPEC+ agreed to its deepest cuts to production since the 2020 COVID pandemic, despite a tight market and opposition to cuts from the United States and others. : Business Standard

Mid-course changes in gas pricing to delay investments, says Reliance

New Delhi : Billionaire Mukesh Ambani’s Reliance Industries has told a government-appointed panel reviewing gas pricing that any ‘retrograde’ move to artificially cap rates will add to fiscal policy instability, delays investment and dent India’s attempt to become Atmanirbhar in fuel production. : Business Standard

Consortium kicks off project to capture carbon emissions onboard oil tanker

New Delhi : A consortium made up of global energy and shipping organisations announced on Wednesday that they will start a project to build and test a carbon capture system onboard an oil tanker for the next two years. : Economic Times

Ministerial dialogue of US-India Strategic Clean Energy Partnership to take place on Friday

New Delhi : A ministerial dialogue of the US-India Strategic Clean Energy Partnership (USISCEP) will be held on Friday in the US, the Ministry of Petroleum and Natural Gas (MoP&NG) said on Wednesday. : Economic Times

Oil climbs ahead of OPEC+ talks on supply cut

New Delhi : Oil prices inched up on Wednesday extending 3 per cent gains in the previous session ahead of a meeting of OPEC+ producers to discuss a big output cut in what energy executives and analysts see as a tightly supplied market. : Economic Times

Indian refiners scout for oil deals ahead of EU ban on Russian crude

New Delhi : Indian state refiners plan to lock-in more of their crude supplies in term deals, worried that tighter Western sanctions on Russia, including from the EU, could curb future supplies in already tight markets, sources at state refiners said. : Economic Times

Taling markets: OPEC+ is underproducing, limiting impact of possible supply cuts

New Delhi : An OPEC+ production cut when the cartel meets later Wednesday is likely to be bigger on paper than in practice, dampening its impact on oil prices, as the group’s longstanding inability to meet its targets means it is already underproducing, oil analysts say. : Mint

Taling markets: OPEC+ is underproducing, limiting impact of possible supply cuts

New Delhi : An OPEC+ production cut when the cartel meets later Wednesday is likely to be bigger on paper than in practice, dampening its impact on oil prices, as the group’s longstanding inability to meet its targets means it is already underproducing, oil analysts say. : Mint

Oil prices inch lower ahead of a meeting of OPEC+ producers on supply cut

New Delhi : Oil prices moderated very slightly on Wednesday after gaining more than 3% in the previous session ahead of a meeting of OPEC+ producers to discuss a big cut in crude output. : Business Standard

OPEC+ heads for clash with US, deep supply cuts to boost sagging prices

New Delhi : OPEC+ looks set for deep cuts to its oil output targets when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more. : Business Standard

High city gas prices to cut consumption growth by nearly 15 percent this fiscal: Report

New Delhi : The recent surge in natural gas prices announced by the Ministry of Petroleum and Natural Gas may curb India’s city gas consumption volume growth to roughly 10 per cent, as opposed to the earlier growth expectations of nearly 25 per cent, CRISIL Ratings said in a report. : Financial Express

OPEC+ to cut production by 2 million bpd, oil prices surge

New Delhi : The Organization of the Petroleum Exporting Countries (OPEC) and other major oil producing countries have agreed to cut production by 2 million barrels per day (bpd). : Mint

India, US to hold dialogue on clean energy partnership on 7 Oct

New Delhi : Union minister for petroleum and natural gas Hardeep Singh Puri and US Secretary of Energy Jennifer Granholm will hold ministerial dialogue on US-India Strategic Clean Energy Partnership (USISCEP) to be held on 7 October. : Mint

EU likely to cap Russian oil over Ukraine war, annexation of 4 regions

New Delhi : Following the annexation of four regions in Ukraine by Russian countries, European Union countries agreed on Wednesday to impose a price cap on Russian oil and other new sanctions. : Mint

Sarkaritel
By Sarkaritel October 6, 2022 06:28