In all, rates have been increased 12 times since the start of the year. This has led to rates almost doubling in six months. In August, ATF prices were reduced by 12 per cent. Aviation turbine fuel (ATF) prices were cut by 12 per cent, to Rs 1,21,915.57 which was Rs 138,147.93 per kl on 16 July in Delhi.
Adani Power has eight operational plants in India with an electricity generation capacity of 13,650 megawatts. It is primarily into thermal power generation, but has a 40-megawatt solar power project in Gujarat. DB Power operates a coal-based power plant with an installed capacity of 120 megawatt in Chhattisgarh.
"India may not get the full benefit of falling oil prices," said Sunil Kumar Sinha, principal economist at India Ratings and Research, pointing to depreciation in the rupee that offsets the gain from lower oil prices and the likelihood of consumer fuel prices not falling. The government will allow refiners to absorb the gains from lower prices to make up for the losses they incurred for months by selling transportation fuels at below-market rates, said Sinha.
Oil India has realised an average price of about $80 per barrel for its crude in the current quarter compared to $79 in the full year that ended in March 2022 and $44 in 2020-21.
The draft proposal circulated among states for discussion seeks to address problems that have discouraged private investment and stagnated the capacity addition, said a government official. Time and cost overruns can raise tariffs from new hydro projects up to ₹8 per unit but with these measures the government believes a ₹4.5 per unit price may be possible.
In Mumbai, Petrol and diesel were priced at Rs 106.31 per litre and diesel Rs 94.27 respectively. Petrol and diesel were priced at Rs 102.63 and Rs 94.24 in Chennai and at Rs 106.03 and Rs 92.76 in Kolkata on September 27, 2022.
Production at Sakhalin-1 was "minimized" shortly after the Ukraine war started and there is no clarity or timeline yet when it could be resumed, ONGC officials told Reuters on the sidelines of the 38th Annual Asia Pacific Petroleum Conference (APPEC) 2022.
In April 2011, it submitted a master development plan (MDP) to bring the discovery, which was named Farzad-B, for production but negotiations got stalled as international sanctions were slapped on Iran over its nuclear plans.
Learning lessons from the October 2021 energy crisis, when power stations were put on outage alert, due to coal stocks falling to the lowest level in years, the ministries of coal and power as well as railways this year have worked out a plan to ensure adequate fuel stocks at electricity generating units, officials said.
After factoring in the spike in energy prices witnessed in recent months, the rate paid for gas produced from old fields such as of state-owned Oil and Natural Gas Corporation (ONGC) is likely to rise to USD 9 per million British thermal units from current USD 6.1.
The Narmada Control Authority (NCA) had given its final approval to the Gujarat government to raise the height of the dam by about 17 metres to 138.68 metres from 121.92 metres in 2014 soon after Narendra Modi became the prime minister.
He alleged the erstwhile government (in Maharashtra) had allocated land for the project but later refused under the pretext of changing the location, which derailed the project.
In a statement BPCL said, the signing of the MoU will strengthen future crude oil trade relations between the two companies and explore potential crude import opportunities by BPCL, on a long term basis, especially considering the current geopolitical situations.
The cracker annually consumes about 2.3 million tonnes of naphtha and produces 857,000 tonnes of ethylene. The revamp is aimed at raising the annual ethylene production capacity of the cracker by 13% to 970,000 tonnes, while reducing output of polypropylene, they said.
Senators Chris Van Hollen, a Maryland Democrat, and Pennsylvania Republican Pat Toomey are working on legislation that would impose secondary sanctions on foreign firms that facilitate the trade of Russian oil and on countries that increase their purchases of the commodity.
The government defended the imposition of windfall tax as "one of the measures which helps in dealing with the situation" that had arisen due to high and extremely volatile crude oil prices. High crude prices have caused "very high prices for end consumers at petrol pumps", the ministry said.
Refineries processed 19.5 million metric tonnes (MMT) or 4.62 million barrels per day (mbd) in August, lower than 5.07 mbd in July and the nameplate capacity of 5.02 mbd, as per the petroleum and natural gas ministry data.
In a letter dated August 12, reviewed by PTI, the oil ministry has sought the exemption from the two-and-half-month old levy for the oil field or blocks which were bid out to companies under Production Sharing Contract (PSC) and Revenue Sharing Contract (RSC). The ministry opined that the contracts have an in-built mechanism to factor in high prices as incremental gains get transferred in form of higher profit share for the government.
Import of liquefied natural gas (LNG) fell 19% to 2.37 BCM in August on high prices and limited availability in the spot market. Indian gas importers are unable to source LNG from the spot market as most supplies are headed to Europe where buyers are willing to offer record-high prices ahead of winter amid sharp supply curbs from Russia.