Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support, alongside a drop in U.S. fuel inventories. Brent crude futures added 52 cents, or 0.8%, to $64.59 a barrel, as of 0709 GMT, after […]
Day: March 4, 2021
Nuclear power sector ‘in crisis’ 10 years after Fukushima disaster
Nuclear power is responsible for 10 percent of the world’s electricity production, but it remains a controversial source of energy, a decade after the tsunami that triggered the Fukushima nuclear crisis. Here is a look at the state of nuclear energy around the world: – Fewer reactors – “It was an industry in serious crisis […]
Lufthansa posts record annual loss, sees long recovery
German flag carrier Lufthansa said Thursday it lost a record 6.7 billion euros ($8.1 billion) in 2020, as the coronavirus pandemic wiped out demand for travel and left aircraft grounded. Europe’s biggest airline said it expects to book an operating loss again in 2021, although smaller than last year, as capacity runs at only 40-50 […]
India’s Reliance looks to green energy, hydrogen as aims for net zero
India’s Reliance Industries, operator of the world’s biggest refining complex, said on Wednesday its non-energy businesses and increased use of renewable power would help it meet a goal of net zero carbon by 2035. The leading petrochemical producer and operator of a refining complex in the western Gujarat state that can daily process 1.4 million […]
Global air cargo demand recovers to pre-Covid levels: Global body IATA
The International Air Transport Association (IATA) has released January data for global air cargo markets showing that demand returned to pre-Covid levels for the first time since the onset of crisis. January demand also showed strong month-to-month growth over December 2020 levels. Global demand measured in cargo tonne kilometres was up 1.1 per cent compared […]
Coal India’s second interim dividend likely to be Rs 4-5 per share
State-owned Coal India’s second interim dividend could be in the range of Rs 4-5 per share as it is working to match the previous year’s total dividend amid an outstanding of Rs 25,000 crore, coupled with sluggish demand, sources said on Thursday. The miner had announced Rs 7.5 per share as the first interim dividend […]
Average spot power price up 16% at Rs 3.39 per unit in February at Indian Energy Exchange
Average spot power price at Indian Energy Exchange (IEX) rose over 16 per cent to Rs 3.39 per unit in February in the day ahead market (DAM), over the same month a year ago. “The day-ahead market (DAM) traded 5,124 MU (million units) volume and saw a notable 19.5 per cent Y-o-Y growth in February’21. […]
Run-up to polls: Private gencos want Tamil Nadu to clear dues
Independent power producers have asked poll-bound Tamil Nadu’s state-run electricity distribution company (discom) to clear their dues to ensure uninterrupted supplies. At the end of January, Tamil Nadu owed Rs 19,325 crore to power producers, 40% of which was payable to private thermal power firms such as Vedanta, GMR, DB Power, ILFS Energy and Jindal […]
Tata Power rolls out live peer-to-peer solar energy trading project
Tata Power Delhi Distribution and Australian tech firm Power Ledger on Wednesday announced the launch of the first live peer-to-peer solar energy trading project in Delhi. Tata Power DDL and Power Ledger in collaboration with India Smart Grid Forum (ISGF) have rolled out live peer-to-peer (P2P) solar energy trading, a first-of-its-kind pilot project in Delhi, […]
India asks OPEC+ to fulfill promise of price stability: Dharmendra Pradhan
(Reuters) – India, the world’s third largest oil importer and consumer, wants major OPEC+ producers to boost output in order to fulfill their promise of stable crude markets, the nation’s oil minister Dharmendra Pradhan said on Wednesday. Pradhan said at the CERAWeek conference by IHS Markit that India, where fuel demand is recovering to pre-pandemic […]
Why world’s power grids are increasingly vulnerable to cyber attacks
More than five years after massive cyber attacks left a quarter of a million Ukrainians without electricity, the world’s power grids have become even more vulnerable to hackers. As utilities turn to sources of renewable energy and add millions of other components like smart meters, they’re rapidly multiplying the number of connections and sensors along […]
Petrol stable at Rs 91.17 in New Delhi for fifth day, diesel at Rs 81.47
Petrol price on Thursday remained stable at Rs 91.17 per litre in the national capital for the fifth consequitive day. The diesel price was also unchanged at Rs 81.47, according to a price notification from oil marketing companies. In Mumbai, petrol price stood at Rs 97.57 per litre–the same since Feb 27. In Chennai, petrol […]