Equinor sticks to renewables profit goal amid bottlenecks and competition

The company is a pioneer in floating offshore wind, harvesting power from deeper oceans where turbines do not have to be fixed to the seabed, although bottlenecks have hindered completion of its flagship Hywind Tampen project off Norway.

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In big shift, ships to move thermal coal

Coastal shipping of coal is, in fact, being looked at as a viable option by the Centre following the rounds of brainstorming that followed the coal crisis that highlighted serious logistical roadblocks among other factors.

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Alternative energy: IOC to set up new company for green business

The state-owned refiner and oil marketing company is also working in alternative energy areas to provide renewable energy solutions such as 2G ethanol from agri waste, fuel cell technology for automobiles, biodiesel production from solar power, and energy storage devices.

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India to step up state spending to boost growth - finance minister

The government will also place a priority on health and education, said Sitharaman, who is preparing the national budget due on Feb. 1, the last full budget before the elections.

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Kirit Parikh panel favours ending control on pricing of gas from old blocks from 2027

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.

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Huge Australian wind farm secures $1.3 bln funding with no power contracts

The first stage of the Golden Plains project, being developed by privately owned TagEnergy, involves a 756-megawatt wind farm due to start generating in the first quarter of 2025, which will be crucial to help replace coal-fired power.

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Carbon capture key for sustainable development: Niti Aayog report

This is the finding of a study titled 'Carbon Capture, Utilisation and Storage Policy Framework and its Deployment Mechanism in India', which was released on Tuesday by government think-tank Niti Aayog.

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Privatisation is not the only solution to discoms woes say NTPC CMD Gurdeep Singh

The union government has been taking initiatives to privatise the discoms. But since electricity is in the concurrent list of the Constitution of India, the union government could take steps to privatise discoms in the Union Territories only. Some states including Gujarat, Odisha, West Bengal have privatised the power distribution.

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India to pitch for international biofuels alliance at G20: Hardeep Singh Puri

The International Solar Alliance (ISA) was conceived as a coalition of solar resource-rich countries to address their special energy needs and was launched on November 30, 2015 by India and France to implement the Paris Agreement.

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Inox Wind, Inox Green Energy Services reduce debt by Rs 411 cr

Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, as part of the strategic initiative to deleverage their respective balance sheets, have recently paid Rs 250 crore and Rs 161 crore (aggregating to Rs. 411 crore) towards reducing their debt, an exchange filing said.

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Top business leaders to speak at Energy Partnership Forum by Brics Chamber of Commerce & Industry

The day long event aims to serve as a platform for structured discussion and deliberation between the nations and companies to form strategic partnerships and cooperation in the areas of common interest.

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Looking to raise debt for our first Green Hydrogen project: Vineet Mittal, Avaada

In a candid interview with ETEnergyworld, Avaada Group Chairman Vineet Mittal talks about the plan to become a 30 GW renewable energy company within eight years through 2030 and shares a perspective on the key trends in the evolving solar and Green Hydrogen landscape in India. Edited excerpts..

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India panel to favour linking local gas prices to Indian crude basket: Sources

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.

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Panasonic bets on India to cut solar imports from China

The decision to localise comes amid recent government policies to curb imports and increased supply chain issues with Chinese imports, company’s solar business head Amit Barve told TOI.

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Looking to raise debt for our first Green Hydrogen project: Vineet Mittal, Avaada

In a candid interview with ETEnergyworld, Avaada Group Chairman Vineet Mittal talks about the plan to become a 30 GW renewable energy company within eight years through 2030 and shares a perspective on the key trends in the evolving solar and Green Hydrogen landscape in India. Edited excerpts..

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Fuel price cut hopes rise as crude oil prices drop to lowest since January

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.

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Spain's Acciona to build $1.3 bln wind farm in Australia in expansion drive

The 1,000-megawatt (MW) Herries Range wind farm will be built at the MacIntyre Wind Precinct, where the renewable energy and infrastructure conglomerate is already building a 923 MW wind farm alongside a state-owned one.

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FM Nirmala Sitharaman seeks work on climate changes

Addressing a national level summit to promote startups, Sitharaman emphasised more on climate change and asked the startups to find a solution to combat it as that will have a bearing on the agriculture pattern in the country.

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Google, Microsoft to use renewable energy sources in data centres

Google has signed a power purchase agreement (PPA) with Engie, a French utility company, for 100 MW of energy generated by the Moray West offshore wind farm in Scotland to power its UK operations.

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China, India squeeze big oil discounts out of Russia, hitting Putin's war chest

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.

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Google, Microsoft to use renewable energy sources in data centres

Google has signed a power purchase agreement (PPA) with Engie, a French utility company, for 100 MW of energy generated by the Moray West offshore wind farm in Scotland to power its UK operations.

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View: China, India squeeze big oil discounts out of Russia, hitting Putin's war chest

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.

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Kirit Parikh panel likely to recommend price cap for ONGC gas, no change in formula for Reliance

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.

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Adani arm seeks licence to expand power distribution in Mumbai including JNPT

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.

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Truss & Johnson join voices against Sunak over onshore wind farms

Both Truss and Johnson signed an amendment to the government's Levelling Up legislation brought by Tory MP Simon Clarke - who served in Truss's cabinet - which would ease current restrictions on onshore wind. It's their first public act of dissent against Sunak's government.

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India's electricity shortage erased by renewables growth

So far, the impact is marginal in India, and coal-fired generation is likely to rise again as total loads continue to grow, especially if temperatures are closer to seasonal norms. But renewables are starting to bend the curve of coal consumption for power generation and reduce the future trajectory.

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SKS Power lenders extend due diligence deadline

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Budget 2023: Exporters demand fiscal support, credit at affordable rates in Budget

"Creation of employment is the biggest challenge faced by the country....We would urge the government to provide fiscal support to units who provide additional employment in the export sector. Such a scheme will also help workers move from informal employment to formal employment," the federation said.

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Castrol India to acquire 7.09 pc stake in TVS Automobile Solutions' digital arm

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.

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SJVN commissions 75MW solar project in Uttar Pradesh

​​S​JVN Chairman & Managing Director Nand Lal Sharma said that with the 75 MW Parasan Solar Power Project achieving commercial operation, the power producer's installed generation capacity stands at 2,091.5 MW.

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Adani lays out plans for a 'super app', to invest $4 bn in petrochemical complex: Report

Adani, Asia's richest person, plans to launch a "super app" in the next three to six months to connect Adani airport passengers with other Adani Group services, according to the report.

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LNG storage planned at major ports at ₹20,000 crore investment

India has 12 major ports, of which Cochin (Kerala) and Kandla (Gujarat) already have accessible LNG storage facilities. The proposed LNG terminals will provide refuelling facilities for ships, as well as help serve India's increasing demand for the gas from the industry and for city-gas distribution.

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Europe gas prices fall as bloc pauses emergency package

Gas declined after four days of gains, with temperatures expected to fall below seasonal norms next week, according to forecaster Maxar. Unseasonably mild weather over the past two months and strong LNG flows that helped fill up storage sites had recently brought down prices from their summer peaks.

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France's first commercial-scale offshore wind farm starts full operations

The Saint-Nazaire wind farm, located between 12 and 20 km off France's west coast, consists of 80 turbines and will provide clean energy to power the equivalent of 400,000 homes annually, or 20 per cent of the Loire-Atlantique region's electricity consumption.

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Over 80,000 delegates, 140 heads of state to attend COP28 in Dubai next year: Minister

Al Jaber, who is the minister of Industry and Advanced Technology and the UAE's special envoy for climate change, highlighted the importance of the UAE hosting the Conference of the Parties and said COP28 will be an important global event coinciding with the country's national day and will be held at Expo City Dubai.

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Bihar: Experts for implementation of green budgeting in state

The round-table emphasized on the need to drive an economic recovery pathway for Bihar which is in sync with sustainable development priorities and make economy strong enough to withstand any sudden shocks (pandemic or climatic).

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India will stay ahead of the curve amid global economic slowdown: Stellantis CEO Carlos Tavares

The company, which is gearing up to launch the electric version of its compact car C3 early next year, is also working on the possibility of exporting compact electric vehicles from the country to markets like Europe.

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Kerala sets up high-level working group for Hydrogen Economy Mission

The state government is planning to devise a strategic roadmap, policy formulations, and implementation plans to facilitate investments in the green hydrogen

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EU considers price cap of $65-70 on Russian oil

The price cap would ban companies from providing shipping and services, such as insurance, brokering and financial assistance, needed to transport Russian oil anywhere in the world unless the oil is sold below the agreed threshold. The cap plan, which is being driven by the G-7, has two aims: keeping Russian oil flowing in order to avoid global price spikes, while at the same time limiting Moscow's revenues.

from Energy-Industry-Economic Times https://ift.tt/9I3wzWq

OPINION: China on track to hit new clean & dirty power records in 2022

China's electricity generation from solar power was up by more than 30% in January to October on the same period in 2021, while electricity from wind power jumped 25 per cent.

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Inox Green shares make tepid market debut; fall nearly 8 per cent

The stock listed at Rs 60.50, a fall of 6.92 per cent from the issue price on the BSE. It further declined 8.92 per cent to Rs 59.20. On the NSE, the shares of the firm made its debut at Rs 60, a discount of 7.69 per cent.

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India jumps two spots higher in Climate Change Performance Index

India is now ranked 8th according to the published by German Watch, New Climate Institute and Climate Action Network International based in Germany

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JSW Energy seeks shareholders' nod to appoint Parth Jindal as director

The remote e-voting process for the resolution to appoint Parth Jindal as a director will start on November 23 and end on December 22, according to a postal ballot notice.

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FEATURE - Bangladesh clean energy shift gives women little chance to shine

Bangladesh's fledgling clean energy industry is creating thousands of new jobs and, with them, opportunities for more women to join the workforce, say industry experts.

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India’s big plans for cleaner jet fuel face a string of hurdles

The project run by the Indian Institute of Petroleum, a laboratory of the Council of Scientific & Industrial Research, is India’s attempt at shaking up the $155 billion global biofuels industry, which has long been dogged by criticism that crop-based alternatives like ethanol can trigger indirect emissions by expanding farmland and driving up food prices for the world’s poorest people.

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How far has COP27 inched beyond past climate deals?

By the end of the first week of COP27, officials had agreed to put off decisions on which projects - from wind farms to tree planting - should be eligble to generate carbon offset credits.

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Punjab government to install 300-megawatt solar power projects

The proposed 200 MW canal-top solar project would be installed in a phased manner, under which 50 MW would be installed in the first phase, while projects of remaining capacity would be installed in subsequent phases, Arora added.

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Asset monetisation of Rs 33,422 crore in FY23 so far, coal ministry leads with Rs 17,000 crore

The government has monetised assets worth Rs 33,422 crore under the National Monetisation Pipeline (NMP) in 2022-23 so far, with the Coal Ministry leading the list by raising Rs 17,000 crore, and the ports and shipping ministry surpassing its overall fiscal target, according to sources.

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Test drive over, HDFC Bank plans to go big on EV loans

"In line with our aim to become carbon neutral by 2031-32 we are aggressively pushing EV financing," said Vikas Pandey, business head-auto loans at HDFC Bank. "We are market leaders in passenger vehicle financing. Out of 100 EVs sold, we are financing 15-17. So, we have a market share of more than 15 per cent."

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India’s oil buyers make a push for Russia crude before sanctions

The price cap is scheduled to be implemented alongside European Union sanctions on Russian seaborne imports on December 5, and is designed to keep crude flowing but crimp the Kremlin’s revenues as it wages war in Ukraine. The cap level is set to be announced this week.

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WEF looking at solutions from India to help accelerate decarbonisation

"What India has done with the acceleration of renewables, deployment of new renewables is quite outstanding. If I am not mistaken, the numbers are saying that your demand has grown but you have decoupled the demand for energy from the demand for coal. That is a very important element," WEF's Roberto Bocca told PTI here.

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Rajasthan: 2 firms show interest before launch of green hydrocarbon policy

Rajasthan, which already has the largest installed capacity for solar energy generation, was quick to draft a policy to attract investment in green hydrocarbon. The draft policy is awaiting the state cabinet’s approval and will be the first in the country.

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Singapore's company monitors potential of wind energy off Gujarat and Tamil Nadu

Anil Bhatia, Vice President for Renewable and Hybrid Energy at HBA, said strong winds across deep seas off Gujarat and Tamil Nadu are most suitable for installing bigger wind turbines, ranging from size of 12 MW to 18 MW, and produce 24X7 renewable energy at a competitive price.

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ONGC to reverse oil, gas output decline; sees 18 per cent jump in production in FY25

In current fiscal year (2022-23), crude oil production is slated to rise to 22.823 million tonne and gas to 22.099 bcm. In the following fiscal year, oil production will climb to 24.636 million tonne and to 25.689 million tonne in 2024-25, the management told investors in a call post announcement of second quarter earnings last week.

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Tamil Nadu: Complexes with solar panels to save big on electricty bills

In bigger apartment complexes with swimming pools, sewage water treatment plants, the common electricity supply connection was charged under commercial category, and energy generated from rooftop solar systems were absorbed by the discom in the net feed-in scheme as net metering was allowed for domestic connections (billed under I-A slab).

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Jio-BP says fuel supply by company not intermittent

Reliance Industries Ltd and BP plc's fuel marketing venture Jio-bp has refuted allegations by some dealers that its fuel supply to retail outlets is intermittent.

from Energy-Industry-Economic Times https://ift.tt/fC49aRL

ONGC to reverse oil, gas output decline; sees 18% jump in production in FY25

In current fiscal year (2022-23), crude oil production is slated to rise to 22.823 million tonne and gas to 22.099 bcm. In the following fiscal year, oil production will climb to 24.636 million tonne and to 25.689 million tonne in 2024-25, the management told investors in a call post announcement of second quarter earnings last week.

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India to be 2nd largest economy by 2050, to add a trillion dollar to GDP every 12-18 months: Adani

He said back-to-back global crises have challenged several assumptions, including that China should adopt western democratic principles, secular principles are universal, the EU would stay together, and that Russia would be forced to accept a reduced international role.

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Coastal Karnataka to get massive investment in renewable energy sector: CM Bommai

He said around Rs 2 lakh crore investment proposals have come in the area of renewable energy, hydrogen energy and production of ammonia from sea water in the just concluded Global Investors Meet (GIM).

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FM Sitharaman urges AIIB to invest in renewable energy in India

Finance Minister Nirmala Sitharaman on Friday urged the Asian Infrastructure Investment Bank (AIIB) to scale up investments and mobilise private finance in India's key priority areas like renewable energy, energy efficiency and climate smart technologies.

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India may transport Russian oil to Bangladesh

Turkey would be "more than happy" to help Bangladesh by becoming a transit country for Russian energy supplies, Turkish ambassador to Bangladesh Mustafa Osman Turan said on Wednesday in Dhaka.

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Draft COP27 climate deal shows inaction on loss & damage funding

The draft showed little progress on key issues like loss and damage funding, adaptation fund replenishment and a new collective quantified goal on climate finance.

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COP27 debate on who should pay for climate loss and damage reopens old wounds

The European Union put out a surprise proposal on Thursday night, saying it would support the creation of a loss and damage response fund - a reversal from its stance in previous years.

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FM Sitharaman urges AIIB to invest in renewable energy in India

Finance Minister Nirmala Sitharaman on Friday urged the Asian Infrastructure Investment Bank (AIIB) to scale up investments and mobilise private finance in India's key priority areas like renewable energy, energy efficiency and climate smart technologies.

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Jio-bp dealers seek changes to Co's policies, form association

Reliance Industries (RIL) and BP's fuel and mobility joint venture, Reliance BP Mobility (RBML), operates its fuel stations under the Jio-bp brand. Jio-bp fuel retailers in the west and the south have formed associations in their respective regions, and have demanded an increase in their commission, regular fuel supply, fuel price parity with PSU retailers, and a clean exit policy.

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Italy's Enel to build solar PV cell & panel factory in US

The factory is expected to initially produce at least 3 gigawatt (GW) and scale up to 6 GW of high-performance bifacial PV modules and cells annually, the group said in a statement.

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Global wind energy major Siemens Gamesa to increase India headcount

According to Siemens Gamesa, the new facility measuring 76,000 sq ft will be home to a work force of more than 500 engineers. The new centre is one of the three major research & development hubs for Siemens Gamesa globally, the other two being in Spain and Denmark.

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Integrate 60 per cent renewable energy for cut in emissions by one-third: Report

"A highly industrialised State like Tamil Nadu notwithstanding its growing energy needs can reduce emissions by 25-32 per cent if the State integrates about 60 per cent of renewable capacity," said the report 'Working Paper' released at the event 'Tamil Nadu Sustainable Energy Transformation Dialogues' in Chennai.

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Integrate 60 per cent renewable energy for cut in emissions by one-third: Report

"A highly industrialised State like Tamil Nadu notwithstanding its growing energy needs can reduce emissions by 25-32 per cent if the State integrates about 60 per cent of renewable capacity," said the report 'Working Paper' released at the event 'Tamil Nadu Sustainable Energy Transformation Dialogues' in Chennai.

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Oiltanking deal to help Adani play bigger role

Indian Oiltanking was an equal joint venture between Indian Oil Corporation (IOCL) and Oiltanking GmbH, Germany, formed in 1996 to provide storage and logistics solutions for crude oil and petroleum products. On November 9, APSEZ, the flagship transportation arm of Adani group and India's largest private ports and logistics company, bought Oiltanking's 49.3% stake in the joint venture for ₹1,050 crore.

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G20 declaration underlines urgency to rapidly transform, diversify energy systems

"We call for continued support for developing countries, especially the most vulnerable ones, in terms of providing access to affordable, reliable, sustainable, and modern energy, capacity building, affordable latest technology within the public domain, mutually beneficial technology cooperation and financing mitigation actions in the energy sector," the document said.

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Retired BPCL chairman Arun Kumar Singh to be next head of ONGC

Oil refining and marketing company BPCL's former chairman Arun Kumar Singh is likely to be the new chairman of India's top oil and gas producer ONGC -- the first instance of a top PSU board-level position going to a person aged over 60

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Uttar Pradesh govt plans to generate 22kMW solar power in 5 yrs

The UP Solar Policy-2022 will be applicable for five years. In addition to financial aid from the Centre, state government contribution of Rs 15,000 per KW, upto a maximum of Rs 30,000 per consumer was also approved.

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Windfall tax on domestic crude raised to Rs 10,200/tonne starting Thursday

It slashed special additional excise duty on export of diesel to Rs 10.50 per litre from Rs 13 per litre. The changes come into effect from November 17, according to an official notification issued late Wednesday.

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Govt hikes windfall tax on domestically produced crude

The changes are effective November 17, according to a notification issued late Wednesday.

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No sector, fuel source, gas should be singled out for action: India at COP27

Participating in a BASIC ((Brazil, South Africa, India and China) ministerial meeting on Tuesday night, Yadav said developing countries should be provided their fair share of the full carbon budget and it can be done by "monetising the carbon debt of the developed countries".

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Piramal Capital withdraws insolvency proceedings against Reliance Power

Reliance Power, in a stock exchange disclosure, has informed that the Piramal Capital and Housing Finance has withdrawn the application made against Reliance Power Ltd. under section 7 of the Insolvency and Bankruptcy Code 2016.

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Actis sees annual investments of up to $300 mln in Africa energy

Actis has invested over $2 billion in energy infrastructure in Africa over the past two decades in utility scale renewable projects, commercial and industrial solar plants and power generation with natural gas.

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India ranks high in climate protection, bags 8th position in Climate Change Performance Index

The rankings by Germanwatch, NewClimate Institute and the Climate Action Network are based on how well the countries are doing to halve their emissions by 2030 -- an essential aspect to keep the 1.5-degree Celsius goal within reach and prevent dangerous climate change.

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Indosolar board clears setting up 1 GW solar manufacturing facility

Further, it has given the nod for the sale of the assets of the companies which has become obsolete, and setting up of 1 GW solar module manufacturing facility, according to a regulatory filing.

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ONGC Videsh set to retake its Sakhalin-1 stake

Russian President Vladimir Putin last month disbanded Exxon Neftegaz - a regional subsidiary of US super major ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator.

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Electriq Power to go public in US via $495 million SPAC deal

Electriq also said it was in advanced talks for up to $60 million of capital from an institutional investor, a personal convertible debt commitment of up to $8.5 million from TLG Chief Executive Mike Lawrie, and other convertible debt to be raised before the deal closes.

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Mexico vows to double renewable energy capacity by 2030

Foreign Minister Marcelo Ebrard traveled to Egypt to attend the COP27 climate summit, where he met with US climate envoy John Kerry and over the weekend presented Mexico's plans to invest some $48 billion in developing renewable energy.

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Govt looking at mandating blending of jet fuel with sustainable aviation fuel: Official

"We are committed to reducing emissions by fossil fuels... the (civil aviation) ministry is working closely with the ministry of petroleum and natural gas on the issues related to Sustainable Aviation Fuel (SAF)," he said.

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GE Power India reports Rs 112 cr loss in Q2

Total income of the company dipped to Rs 460.08 crore in the quarter under review from Rs 790.31 crore in the same period a year ago.

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India submits low emission development strategy at COP27

"India aspires to maximise the use of electric vehicles, ethanol blending to reach 20 per cent by 2025 and a strong modal shift to public transport for passenger and freight," the emission strategy underlined.

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Centre ready to bring fuel under GST: Petroleum Minister Puri

"For bringing the petrol and diesel under the GST, the states have to agree. If the states make the move, we are ready. We have been ready all along. That's my understanding. It is another issue how to implement it. That question should be addressed to the finance minister," Puri told reporters here.

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Natgas consumption recovers in October as global prices decline

Natural gas consumption fell 2.7% year-on-year in October but rose month-on-month, oil ministry data showed. Gas consumption was 5,238 million cubic meters in October, or 169 million cubic meters per day. This is an improvement over September's 156 million cubic meters per day, an early sign of a recovery in gas consumption as international prices head south.

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Solar import duty passthrough to lift tariff by up to 70 paise per unit: CRISIL

The increased tariff will remain below the average power purchase cost for discoms in India, it added

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Saudi Arabia has 'green vision' at COP27, critics unmoved

In and around the conference, Saudi Arabia is presenting itself as a leader in green energies and eco-friendly practices, with flashy pavilions, glossy presentations and optimistic assessments of technologies like carbon capture, which can remove carbon dioxide from the air but is costly and years away from being deployed at scale.

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COP27: India thwarts attempt to club it with historical polluters

During the first week of the climate talks, developed countries desired that all top 20 emitters, including India and China, discuss intense emission cuts and not just the rich nations which are historically responsible for climate change, they said.

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India can buy as much Russian oil as it wants, outside price cap, Yellen says

The cap would still drive global oil prices lower while curbing Russia's revenues, Yellen said in an interview with Reuters on the sidelines of a conference on deepening U.S.-Indian economic ties. Russia will not be able to sell as much oil as it does now once the European Union halts imports without resorting to the capped price or significant discounts from current prices, Yellen added.

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ONGC bets on technology to milk ageing oil fields

The country's top oil and gas producer has been struggling to boost its output for years as most of its producing fields have matured and entered a natural decline phase. It is hoping to recover more from its declining fields, using EOR techniques that involve injections of steam, gas or chemicals into the fields to free up trapped oil in the reservoir and force them out.

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Power sector engineers, employees to hold rally on November 23

The central government and Union Ministry of Power have not held any talks till date, neither with the consumer organisations of electricity nor with any power employees' associations on the proposed amendments, Dubey claimed.

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Reliance, Nayara to gain from European energy crisis: Report

The energy crisis will only get further aggravated going forward as from next month Opec's 2-million barrel per day production cut comes into force, and from February 5 the ban on Russian imports of refined products comes into force, say oil analysts at LSG group's market data provider Refinitiv.

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Sembcorp to acquire Vector Green, add 583 MW renewable energy assets in India

Vector Green is an Independent Power Producer with renewable power generation assets in 13 Indian states.

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Sembcorp to acquire Vector Green, add 583 MW renewable energy assets in India

Vector Green is an Independent Power Producer with renewable power generation assets in 13 Indian states.

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IREDA second quarter PAT grows 67 per cent to Rs 184 crore

IREDA's Net Non-Performing Assets (NPAs) have been reduced to 2.72 per cent in Q2, FY 2022-23 from 4.87 per cent in Q2, FY 2021-22.

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PM Modi opens onshore facilities of ONGC's U-field in KG block

The project was dedicated to the nation along with the inauguration/foundation-stone laying of various other development projects worth over Rs 10,700 crore in Visakhapatnam, Andhra Pradesh, a company statement said.

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Germany, India in escalating tussle over canceled LNG supply

Gas supplies from Germany’s Securing Energy for Europe GmbH to GAIL India Ltd. have been disrupted since May after Moscow’s sanctions on the group made it impossible to source cargoes from Russia.

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India's Bharat Heavy Electricals swings to profit on industry unit boost

The state-owned company said its standalone net profit rose to 102.9 million rupees ($1.27 million) in the three months ended Sept. 30, from a net loss of 674.9 million rupees a year ago. Analysts, on average, had expected a net loss of 84.33 million rupees, according to Refinitiv IBES data.

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CPPIB infuses $400 m more in ReNew Power

Canadian Pension Plan Investment Board (CPPIB) has become the largest shareholder of the Nasdaq-listed company, after the Wall Street investment bank further pared its stake last month, said people in the know.

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Electricity consumers with 100Kw sanctioned load can get renewables supply via green energy portal

Any consumer with a sanctioned load of 100 kW or above can get renewable energy through open access portal from any renewable energy generating plant set up by himself or by any developer, it explained.

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Adani Green Energy net profit rises 49 per cent to Rs 149 crore

"With our focus on delivering the cheapest green electron, we have continued to deploy the latest and most innovative technologies to maximise electricity generation at a lower cost," said Vneet S Jaain, MD & CEO, Adani Green Energy, in a statement.

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Siemens Gamesa announces record losses ahead of de-listing

The energy group, which is a subsidiary of the German firm Siemens Energy, lost 940 million euros ($935 million) over the year from October 1 to September 30.

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OIL reports highest quarterly net profit despite windfall tax

Net profit of Rs 1,720.53 crore in the second quarter of current fiscal compared with Rs 504.46 crore net profit a year back, the company said in a statement.

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Waaree Renewable Technologies net profit jumps nearly 90 pc to Rs 8 crore in Q2

Hitesh Mehta, CFO, Waaree Group, said in the statement: "We are very pleased to leverage the tremendous opportunity from growing energy demand in India and several positive policy initiatives by the GOI (Government of India) for the solar energy sector.

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A price cap on Russian oil would be a dangerous escalation

A price cap makes economic sense. But far more than economics is at stake here. Russia sells oil at a significant profit, and the price cap limits some of that profit. Russia gets about 30% of its entire federal budget from oil and gas revenues, so taking that away will hurt President Vladimir Putin’s war against Ukraine.

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India must utilize biomass, incentivize generators for Green Hydrogen generation: Report

Leveraging renewable energy sources to meet the total electricity demand is not possible without developing storage solutions and Green Hydrogen is emerging as the go-to option in areas that require high power density storage and have space or weight constraints.

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COP27: India to release long-term climate strategy on Monday

At Glasgow, countries had agreed to communicate their longterm low greenhouse gas emission development strategies by COP27. India has set a target of achieving net zero emissions by 2070. The long-term strategies should provide a road map for how that goal is to be achieved.

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October records 185 per cent surge in retail sales of electric vehicles in India

According to new numbers made available by FADA said on Wednesday, overall retail sales of EVs, including passenger vehicles, stood at 1,11,971 units in October. In October 2021, EVs had logged sales of 39,329 units.

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India keeping all oil options open

These dependencies will require New Delhi to keep its options open in order to secure the cheapest oil available on the market. A price ceiling that makes it just about possible for Russian oil to stay in the market could depress prices overall.

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Green bonds' funds marked for clean energy, pollution control

The proceeds from the issue will not be used to fund hydropower plants larger than 25 megawatt (MW), nuclear projects or any biomass-based power generation with biomass originating from protected areas, according to the green bond framework released on Wednesday.

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OPINION: India’s Green Hydrogen opportunity - Harnessing the hype and the hope

The opportunities around green hydrogen are palpable and real and so are the challenges. Policy push is needed on both the demand and supply side.

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Powergrid Corporation executing projects worth Rs 45,700 crore

For the current financial year ending March 2023, Powergrid is working on a capital expenditure plan of Rs 8,800 crore, a 17.3 per cent jump over the last fiscal's capex target of Rs 7,500 crore.

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Bank of America extends green project financing to ReNew Power

The five-year rupee-denominated green loan facility will help the company lower funding costs as the proceeds will primarily be used to prepay an existing offshore loan before its scheduled repayment date.

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Bank of America extends green project financing to ReNew Power

The five-year rupee-denominated green loan facility will help the company lower funding costs as the proceeds will primarily be used to prepay an existing offshore loan before its scheduled repayment date.

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World races to secure Gulf oil for 2023 amid Russia uncertainty

On top of Europe’s imports ban, the EU has also pledged to bar the provision of insurance, brokerage and shipping anywhere in the world -- unless the oil in question is purchased under a price cap program. The actual level of that cap hasn’t been decided yet by the Group of Seven industrialized nations, creating another layer of uncertainty.

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India is still paying Russia in dollars for oil imports

Indian refiners continue to pay in dollars using regular banking channels for the oil they buy from Russia, executives and officials said, adding that the alternative rupee payment mechanism devised by the Reserve Bank of India (RBI) hasn't gained traction.

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KKR to Invest $400 million in Serentica Renewables

Serentica is looking to provide renewable energy solutions through long-term Power Purchase Agreements.

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Maharashtra: 30% agricultural feeders to be powered by solar energy in Nashik

Currently, the agricultural feeders are being provided conventional power, which is sourced from thermal, hydro and gas power stations.

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Coal India's profit more than doubles as power demand surges

Consolidated net profit for the quarter ended Sept. 30 rose to 60.44 billion rupees ($737.88 million) from 29.37 billion rupees a year earlier, the company said on Monday.

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HRIDC inks pact with REMCL to develop renewable energy

Railway Energy Management Company Limited (REMCL) is a joint venture between the rail ministry and RITES Ltd. The agreement was signed at the HRIDC office at Sector 44 Gurugram.

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BPCL registers ₹338-cr loss for September quarter

Net loss, however, narrowed sharply from ₹6,147.9 crore recorded in the previous quarter.

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Oil slips but holds near $100 a barrel as dollar weakens

Brent crude futures fell by 39 cents, or 0.4% to $98.18 a barrel by 1306 GMT. U.S. West Texas Intermediate crude fell by 47 cents, or 0.51%, to $92.14.

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With Rs 14,752 crore net, SBI beats RIL to become most profitable company in Q2

On a standalone basis too, with Rs 13,256 crore of net profit, the nation's largest lender has beaten the Mukesh Ambani firm which remained the most profitable corporate for decades.

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Goa eyes German investment, expertise for renewable energy projects

Goa is in the forefront to encourage solar energy and other non-conventional renewable energy to cut carbon emissions to zero, he said at the Indo-German core partnering meet on sustainable energy and environmental technologies held recently.

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TRENDS: Russia becomes India's top oil supplier in October

Russia, which made up for just 0.2 per cent of all oil imported by India in the year to March 31, 2022, supplied 935,556 barrels per day (bpd) of crude oil to India in October -- the highest ever.

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More time to DGTR for completion of anti-dumping probe on solar cell imports from China, Thailand, Vietnam

DGTR, an arm of the commerce ministry, has sought extension of time to complete the investigations, which was started on May 15, 2021.

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Russia becomes India's top oil supplier in October

India's appetite for Russian oil swelled ever since it started trading on discount as the West shunned it to punish Moscow for its invasion of Ukraine.

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The world may need that Russian oil output cut after all

EU countries will halt most seaborne imports of Russian crude on Dec. 5, with pipeline flows to Poland and Germany to stop by the end of the year. Shipments to Europe are already down to half what they were before President Vladimir Putin sent his troops into Ukraine in February, with most of the rest diverted to China, India and Turkey.

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Mumbai: MGL hikes prices of CNG and domestic PNG again, check the latest rates here

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Cold storage, warehouses, solar panels to be set up to promote agricultural diversification: Punjab minister

Punjab cabinet minister Fauja Singh Sarari on Friday said that under the Agriculture Infrastructure Fund (AIF) scheme, infrastructure such as cold rooms and cold stores, primary processing centres, warehouses and solar panels were being set up in the state.

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OPINION: Energy security in a fractured world will be a significant challenge

For energy security management, each element must be considered individually but joined together by integrated planning and management.

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Goa: Min launches solar-powered cooling unit on Vasco trawler

The solar-powered chiller system was installed onboard the fishing trawler ‘Vailankanni Nakashatra’ at Khariwada fishing jetty in the presence of fisheries minister Nilkanth Halarnkar, Vasco MLA Krishna Salkar, Mormugao MLA Sankalp Amonkar, president of the Goa Fishing Boat Owners Association (GFBOA) Jose Philip D’Souza and other officials of the fisheries department.

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Farm fires' share in Delhi's pollution 38 per cent, highest this season

The increase in stubble burning has kicked off a political slugfest, with Union Environment Minister Bhupender Yadav on Wednesday saying that there had been a 19 per cent rise in farm fires over 2021 in Punjab and that the Aam Aadmi Party (AAP) had turned the national capital into a gas chamber.

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Kalpataru Power Transmission bags orders worth Rs 1,200 crore

Manish Mohnot, Managing Director & CEO, KPTL, said in the statement, "We are delighted with the new order wins across our business verticals. The T&D (transmission and distribution) orders will help us to consolidate our presence in key T&D markets like Middle East and Latin America. The new orders in the oil & gas and railways business has further strengthen our order book."

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Power secretary pitches for reducing cost of smart meters

"I urge the manufacturers to think of innovative ways to reduce the price of the meters to half without compromising on quality. We have improved the loss reduction aspect and are working on the expansion of RDSS scheme and smart distribution," Kumar said while addressing industry body IEEMA's '9th Metering India 2022' event here.

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HPCL reports back-to-back quarterly losses; posts Rs 2,172 cr loss in Q2

Standalone net loss of Rs 2,172.14 crore in the second quarter of the current fiscal year compares to Rs 1,923.51 crore profit in the same period last year, according to the company's filing to the stock exchanges.

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Adani New Industries installs India's largest wind turbine, taller than Statue of Unity

"Adani New Industries Limited (ANIL) on Thursday announced the installation of country's largest Wind Turbine Generator (WTG) in Mundra, Gujarat," a company statement said.

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Renewable energy generators gain by supplying power to C&I customers under open access: Report

C&I customers will benefit from higher participation in open access as it offers cost competitive, stable power, and satisfies their targets for buying power from renewable sources.

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Renewable energy generators gain by supplying power to C&I customers under open access: Report

C&I customers will benefit from higher participation in open access as it offers cost competitive, stable power, and satisfies their targets for buying power from renewable sources.

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Import duty sops for Rs 1.3 lakh crore solar projects will continue: R K Singh

The move will bring reprieve for 26,000 MW capacity under various stages of implementation by keeping the doors open for equipment imports worth Rs 60,000 crore at 5 per cent duty, instead of the 40 per cent basic customs duty (BCD) that came into effect from April 1.

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I Squared, NIIF and Brookfield in Talks to Buy CleanMax

At present, US-based Augment Infrastructure owns a majority stake in CleanMax. Last year, Augment Infrastructure acquired a majority stake from Warburg Pincus and IFC in a Rs 1,650-crore deal, which included primary capital infusion.

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I Squared, NIIF and Brookfield in Talks to Buy CleanMax

At present, US-based Augment Infrastructure owns a majority stake in CleanMax. Last year, Augment Infrastructure acquired a majority stake from Warburg Pincus and IFC in a Rs 1,650-crore deal, which included primary capital infusion.

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Price cap loses value as bidders fight for local gas

The gas price cap appeared to have lost its purpose in a recent ONGC auction as too many bidders fought for a small volume of gas with bids far above the ceiling.

from Energy-Industry-Economic Times https://ift.tt/CDyBOq0

Will we see a fuel price cut ahead of Himachal, Gujarat polls?

Ahead of assembly elections in Himachal Pradesh and Gujarat, a cut in fuel prices may create a positive impact in the favour of governing dispensation and is likely to blunt some of the opposition criticism over higher cost of living, TOI said in a report on Wednesday.

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After ONGC, BPCL gets interim head in absence of regular appointment

Government headhunter Public Enterprises Selection Board (PESB) had in March this year advertised for the post of chairman and managing director of BPCL to look for a successor for Singh.

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CIL has so far achieved 98 pc of coal production target for FY23: Joshi

Joshi, who who was speaking at the 48th CIL Foundation Day, said the company has so far achieved coal supply target of over 100 per cent in FY23.

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NARCL offer for Meenakshi Energy and Helios Photo triggers Swiss Challenge auction

This week itself the NARCL has offered to acquire two loans -Meenakshi Energy and Helios Photo Voltaic Ltd, makers of solar energy equipment - which has triggered Swiss Challenge auctions, the people said.

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Debenture holders move NCLT over '312-crore claim against GVK power

Debenture holders have moved the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against GVK Power and Infrastructure, the ultimate holding company of GVK, claiming the holding company had guaranteed repayment of funds worth ₹312 crore provided to group companies, according to sources briefed on the matter.

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Govt cuts windfall tax on crude oil, hikes taxes on aviation fuel, diesel

The government has maintained that the levy was introduced in view of the windfall gains made by the domestic crude producers and refiners due to high global crude and product prices.

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