The world’s biggest manufacturer of shipping containers sees a surge in revenues from its hydrogen business, in a sign the clean fuel is starting to gain commercial traction. China International Marine Containers Group Co. makes electrolysers that can produce hydrogen, as well as storage containers for the gas. It generated about 1 billion yuan ($139 […]
Day: February 9, 2024
US imposes sanctions for violations of Russia oil price cap
The US Treasury Department said on Thursday it had put sanctions on three entities based in the United Arab Emirates (UAE) and one tanker registered by Liberia for violating a cap placed on the price of Russian oil by a coalition of Western nations. The Treasury also said it had taken steps to bar the […]
Russian oil: India’s state oil refiners in talks with Rosneft to secure Russian crude for long term
All three of India’s state oil refiners are in talks with Rosneft Oil Co PJSC to secure long-term supplies of Russian crude, an effort to move away from one-off purchases that have left them vulnerable to competition. Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp are in discussions, said people familiar with the […]
Petronet draws Rs 40,000 cr investment plan to treble profit by 2028
Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, will invest Rs 40,000 crore in expanding import capacity and petrochemicals with a target to treble net profit by 2028, its CEO A K Singh said. Petronet is making a foray into the petrochemical business by investing Rs 12,685 crore […]
Outstanding discom dues drop by over 60% since 2022: RK Singh
The implementation of the Electricity (LPS and Related Matters) Rules, 2022, has led to a substantial decrease in outstanding dues owed by distribution companies (DISCOMs), plummeting from Rs. 1.4 lakh crores in June 2022 to less than Rs. 50,000 crores as of January 2024, Power and New and Renewable Energy Minister R K Singh said […]
ONGC in talks to restart Libya operations, expand in Venezuela: Report
India’s Oil and Natural Gas Corp is in talks to restart its operations in Libya and to increase production in Venezuela, a company executive said on Friday. “Once it gets started for Oil India, same applies to us. We are also in the same pact with National Oil Corporation of Libya,” Sushma Rawat, director of […]
India to implement new renewable energy consumption norms from April 1, 2024
India is set to enforce new norms for distribution licensees regarding the consumption of renewable energy, starting from April 1, 2024, R K Singh said in a written reply to a question in Lok Sabha on February 8, 2024. This move comes as of the latest data, India has more than 180 GW (Gigawatts) of […]
HPCL to commission Barmer refinery by January 2025: co exec S Bharathan
Hindustan Petroleum Corporation Ltd (HPCL) will commission the country’s newest oil refinery at Barmer in Rajasthan by January next year that will help meet rising fuel demand in the north India, a senior company executive said. “The 9 million tonnes a year refinery is 76 per cent mechanically complete and will be completed by year […]
Avaada Energy secures 1,400 MWp solar projects from state-owned agencies
Avaada Energy on Friday said it has secured over 1,400 MWp solar projects across the country from state-owned agencies. The company has secured projects with capacities of 421 MW, 280 MW, and 700 MW in tenders issued by SECI, GUVNL, and NTPC, respectively, according to a statement. These projects, slated for development in Gujarat and […]
India wants multi-year oil purchase deal with Guyana, says Guyanese minister at India Energy Week
Quitol (Goa): India wants to sign a multi-year oil purchase deal with Guyana and acquire stakes in the South American nation’s exploration areas, the Guyanese minister for natural resources said on Thursday.”We will make a decision at some point in time” on crude oil sales to India in a long-term deal, Vickram Bharrat told reporters […]
In a boost to ‘Make in India’ initiative, Indian company to make all doors of Airbus 220 planes
New Delhi: Aircraft maker Airbus on Thursday announced awarding a contract to Indian company Dynamatic Technologies for manufacturing all the doors for its next-generation narrow body A220 planes, giving a boost to the ‘Make in India’ initiative. While financial details were not disclosed, Civil Aviation Minister Jyotiraditya Scindia said it is one of the single-largest […]
Parliamentary panel suggests route-specific capping of airfares
New Delhi: A Parliamentary panel has proposed route-specific capping of airfares and setting up of a separate entity to exercise control over air ticket prices, amid concerns in various quarters about surging fares. After considering the responses from the civil aviation ministry on airfares, the committee said that self regulation of ticket prices by airlines […]