Experts are of the view that power deficit happens mainly because of technical reasons. They opined that India is a power surplus state but sometimes discoms dont have funds to afford round-the-clock supply of electricity.
Earlier in August this year, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh.
The resolution professional informed lenders Friday that voting on the three plans would close on January 7. The voting deadline has been extended amid a legal battle among creditors over the distribution of proceeds.
Users such as city gas operators that convert gas into CNG for sale to automobiles and pipe it to household kitchens for cooking purposes, or power plants that use it to generate electricity or fertilizer units that use it to make urea, have been asked to quote premium they are willing to pay over the JKM price.
Kalpataru Power Transmission Limited (KPTL) & its international subsidiaries on Friday secured new orders worth Rs 1,247 crore, the company stated in a press release. According to the release, the orders are for Indian and overseas market in the T&D business.
Earlier this month, a 100 MW unit of the project started commercial operation, as per a BSE filing. "Consequent upon successful commissioning, second part capacity of 50 MW out of 300 MW Nokhra solar PV project at Bikaner, Rajasthan, is declared on commercial operation with effect from 00:00 Hours of December 30, 2022," the filing said.
The Bill addresses several energy efficiency and decarbonisation measures across the economy. These include a non-fossil-fuel mandate for designated consumers, the setting up of a carbon credit trading scheme, the inclusion of residential buildings in the new Energy Conservation and Sustainable Building Code, and increasing the purview of energy consumption standards to include vehicles and industrial units.
Petroleum and Natural Gas Regulatory Board (PNGRB) recently ordered IndianOil to stop supplying gas to Knauf India and Honda Motorcycle & Scooters India, the customers with requirements of up to 50,000 standard cubic meters a day (SCMD) in the city gas licensed area of Chittor, Kolar and Vellore districts in south India. This followed a complaint by AGP, the licensee.
The planned amendment also aims to eliminate the current provisions for imprisonment up to three years for marketing oil and gas or building pipelines and liquefied natural gas terminals without the regulator's nod, the people said.
The resolution professional, Saurabh Kumar Tikmani backed by KPMG, invited lenders last week to vote on the resolution plans given by the PFC-REC team, Adani Power and Reliance Industries. The voting will end on December 30.
In an effort to limit the fossil fuel earnings that support Moscow’s budget, the EU and G7 countries along with Australia have agreed to cap the price of Russia’s oil exports at USD 60 a barrel. It has been crafted as a way to allow Russia, a top global oil exporter, to supply markets without Moscow getting the full benefit of its sale. The embargo will prevent shipments of Russian crude to the EU, which account for two-thirds of imports.
ONGC Board presently has six directors for exploration, onshore operations, offshore operations, finance, human resources and technical and field services. It used to be headed by a chairman and managing director. The government earlier this month appointed Arun Kumar Singh, who had recently retired as head of oil refining and fuel marketing company BPCL, as the chairman of ONGC but not as its managing director.
There is a sharp fall in the cost of power in trains using HOG technology than normal LHB (Linke Hofmann Busch) coaches, a statement issued by the ECoR said. The cost of power in normal LHB coaches is over Rs 36 per unit and in rakes with the HOG system, the cost comes down to Rs 6 per unit, it said. The East Coast Railway has to date converted 55 trains into HOG technology, the statement said.
A case has been filed on a complaint by Union Bank of India against a private company & others including its Promoters/ Directors, unknown Public Servants & Private persons on the allegations of bank fraud of Rs 4037.87 crore (approx) to the consortium of 20 banks, officials said on Friday.
Indian Oil Corporation (IOC), the nation's largest oil firm, has selected Reliance Jio's managed network services to connect a fifth of its petrol pump network. Jio will connect 7,200 IOC sites with SD-WAN managed service solution, zero-touch provisioning and 24x7 real-time monitoring, the firm said in a statement Thursday.
The average thermal power plant load factor is expected to be above 60% in FY23 compared with 64.5% in the preceding fiscal, supported by power demand growth and improved local coal supply, the agency said in a report on Tuesday. Distribution companies have started paying overdue amounts to generation companies after the government imposed a late payment surcharge, the agency said.
As part of efforts for 24x7 power supply, Singh said the focus will be mainly on rural areas as urban areas are already getting almost round-the-clock supply of electricity. In 2012, the electricity shortage was around 9 to 10 per cent and it came down to 4.5 per cent in 2013, in energy terms. It is just 0.4 per cent in 2022, meaning there is no shortage, Singh pointed out.
Data provided by ICICI Securities showed that the average crack on diesel - the difference between the purchase price of crude oil and the selling price of the refined product - between July 1 and December 15 was $37.40 per barrel, nearly triple the average of $12.70 in the preceding five years from July 2017 to June 2022.
On the other hand, RITES will provide expertise in design, marketing, operation and maintenance, and other support required for tapping business opportunities, the statement said.
IGL has hiked the CNG prices in the capital city to Rs 79.56 per kg from Rs 78.61 per kg. For Noida, Greater Noida and Ghaziabad, IGL has rasied the prices to Rs.82.12 per kg from Rs 81.17 per kg .
Delhi and Moscow plan to focus on harnessing huge natural resources in the Arctic region including in the field of oil, natural gas and coking coal, ET gathers.
The tax on crude oil produced by local firms has been reduced to Rs 1,700 per tonne from the existing Rs 4,900 per tonne, as per government notification.
On Wednesday, a report by Reuters said that Russia has emerged as the top oil supplier for India for second month in a row. It has replaced Iraq to be India's No. 1 supplier in November as refiners snapped up oil fearing a price cap could hit supplies and choke payment avenues.
Multiple government officials and industry executives said domestic refineries will continue to buy cheap Russian oil with no major shipping or insurance trouble expected as the market rate for the key grade has fallen below the cap.
The Mumbai Bench of the National Company Law Tribunal (NCLT) allowed State Bank of India's petition to initiate the insolvency proceedings after the state-owned lender approached it in 2019 against the manufacturer of transformers parts following a default on dues of over ₹167 crore. Bil Energy's clients include BHEL, Emerson Climate Technologies, Suzlon, Bharat Bijlee and Tecumseh Products, among others.
According to ONGC, it proposes to carry out the onshore exploration of 50 wells during 2021-'28 in Godavari on-land PML block of KG basin in East and West Godavari Districts of AP based on the geological and geophysical studies.
Firstly, it will ensure there should be enough power generation capacity, and for that companies have been directed to carry out maintenance work of their plants so there is no issue at that time, he said. According to Kumar, the demand in April next year could be as high as 230 GW. As per official figures, the maximum all-India power demand met at 2:51 pm on April 26, 2022 was 201.066 GW.
Power deficit, or the gap between electricity required and supplied, has witnessed a downfall to 0.2 per cent in November from 2 per cent in April this year. However, on a monthly basis, the number has increased from 0.1 per cent (124 million units) in October 2022 in October.
Oil has fallen to its lowest this year, trading near $76 a barrel, a sharp decline from $129 in March. The supply uncertainty that gripped the market following the Russian invasion of Ukraine has faded while demand-related concerns amid global economic growth worries have gained sway. What does this mean for India?
It upheld RIL's preliminary objections and rejected the petroleum ministry's allegations that serious distrust and justifiable doubts existed with respect to the independence and impartiality of the two members of the Arbitral Tribunal.
The Russian refusal came during a recent meeting between the two sides in Moscow. Pakistan was represented at the talks by state minister for petroleum Musadik Malik, secretary petroleum Capt (retd) Muhammad Mahmood and other officials.
Essar is offering ₹1,600 crore to settle ₹4,500 crore of loans taken for the Salaya plant in Gujarat's Jamnagar district, effectively giving banks a recovery of about 36% on their dues. Banks as well as Essar officials are working out legal and other details to complete the settlement, multiple persons aware of the deal, said.
While the share of natural gas in India's power generation was just 1.5% this year, down from 3.3% in 2019 due to limited local availability and high global prices, the authorities see it as a crucial stop-gap power source for crunch times, especially when intense summer heat drives up air conditioning use.
The country's overall power generation also increased by 14.63 per cent to 1,18,029 MU from 1,02,968 MU in the same period last year. Power utilities' despatch edged up 3.55 per cent to 62.34 million tonnes (MT) during November this year as compared with 60.20 MT in the year-ago month.
Russia supplied 909,400 barrels per day (bpd) of crude in November, making up 21% of the country's total imports of 4.29 million bpd, according to preliminary data gathered by Vortexa.
The move by the state-run power transmission major comes close on the heels when the telecom sector is ramping up its 5G service across the country to bring business transformation that can contribute two per cent to the national GDP.
The Kirit Parikh Committee, which recommended a floor and ceiling price for natural gas produced from legacy fields of state-owned producers to moderate input price for CNG and fertilizer, has favoured paying ONGC and OIL a premium of 20 per cent over such price for any new gas production they add from old fields.
India imported about 410,000 tonnes of naphtha, used for making petrochemicals, in Sept-Oct, the Refinitiv data showed. Of this figure, Reliance received about 150,000 tonnes from the Russian ports of Ust-Luga, Tuapse and Novorossiysk during the two months, the data showed.
An Indian government panel has recommended ending control on pricing of gas output from old blocks from January 2027, the head of the panel, Kirit Parikh, said on Wednesday in an interview with CNBC TV18. Output from old blocks accounts for about 80% of India's annual gas output of 91 billion cubic metres.
In September India set up a panel headed by energy expert Kirit Parikh to review the India's gas pricing formula to ensure fair prices to consumers after state-set prices of gas from old fields and a ceiling price for output from difficult blocks rose to a record high.
Petrol and diesel prices are supposed to be revised daily but state-owned fuel retailers have not exercised their rights since April 6. Rates have been on freeze since then except on May 22 when prices were reduced following a cut in excise duty.
China and India now purchase two-thirds of all the crude exported by sea from Russia; at least half of the crude exported by pipeline from Russia also goes to China. That gives huge negotiating power to buyers in both countries, and it’s a power they have exercised. Russian crude is trading at a hefty discount to international benchmarks, and that is hitting the Kremlin’s war chest.
A government-appointed gas price review panel, led by Kirit Parikh, is likely to recommend price caps for natural gas produced from legacy fields of state-owned firms to help moderate CNG and piped cooking gas rates, while keeping the pricing formula for difficult fields unchanged.
The group, whose assets include the Adani Ports business, is also vying to distribute power to the country's largest container port JNPT located near Navi Mumbai. The parallel distribution licence application is the first such move by any player under the Electricity Act 2003. The application has been admitted by the MERC on Friday, following which the public notice has been issued.
With this strategic investment, CIL aims to expand its presence in service and maintenance for both internal combustion engine (ICE) and electric vehicles (EV) and leverage myTVS' digital and operational capabilities, a release said. Besides, the partnership will also offer potential for Castrol and KMS to collaborate and partner in select markets beyond India, it stated.