Captive and commercial coal blocks produced 147 million tonne coal in financial year 2023-24, registering a year-on-year growth of 27 per cent, Union Minister Pralhad Joshi said on Wednesday. The mines had produced 116 MT coal during 2022-23. Out of 147.2 MT, power sector captive mines produced around 121.3 MT, non-power sector mines produced 8.4 […]
Day: April 4, 2024
NALCO posts record cast metal production at 4.63 lakh metric tonne in FY24
State-owned NALCO has made a record production of cast metal at 4,63,428 metric tonne during the financial year 2023-24. The company has also made its highest-ever metal sales of 4,70,108 metric tonne during the fiscal ended March 31, it said in a statement on Tuesday. The excavation of bauxite reached a record high of 7,600,230 […]
Jindal Stainless to divest entire 26% stake in Jindal Coke by September
Jindal Stainless on Wednesday said it aims to complete divestment of its entire 26 per cent stake in Jindal Coke by September this year. In the first tranche, the company has offloaded 4.87 per cent shares in Jindal Coke for over Rs 36.49 crore. These shares were picked up by JSL Overseas at the same […]
Tesla to scout sites in India for $2 bn-$3 bn EV plant
Tesla will send a team from the United States to India by late-April to study sites for a proposed $2 billion to $3 billion electric car plant, the Financial Times reported on Wednesday, citing people familiar with the matter. The company’s reported push into India comes at a time when EV demand is slowing in […]
AMO Mobility launches high-speed smart electric scooter Jaunty i Pro at Rs 1.15 lakh
Noida-based electric two-wheeler manufacturing startup AMO Mobility has introduced a new high-speed smart two-wheeler called Jaunty i Pro, priced at INR 1.15 lakh. This new model aims to meet the increasing demand for electric mobility in Tier-I and Tier-II cities, as well as the last-mile delivery sector. Available in white, blue, and grey, the Jaunty […]
Tesla’s Sales Drop: A sign that its grip on the EV market is slipping
Tesla appeared to be losing command of the market it effectively created after it reported a stunning drop in quarterly sales Tuesday, raising fresh questions about Elon Musk’s leadership of the company. The sales decline caught investors off guard as rivals such as BYD of China and Kia and Hyundai of South Korea reported increases […]
China pips India in buying sea-borne Russian crude
NEW DELHI: India is no longer the largest buyer of seaborne Russian oil as it has been forced to reject certain cargoes due to sanctions, allowing China to lap up the commodity at deeply discounted prices. China imported 1.82 million barrels a day (mb/d) of Russian crude by sea in March, a third more than […]
Crude oil on bouncy wicket: Govt says rising price a matter of anxiety
Crude oil’s climb towards $90 per barrel is a matter of anxiety for India, said Pankaj Jain, secretary, petroleum and natural gas ministry. “Whenever prices go up, it does cause anxiety and concern,” Jain said on Wednesday. The price of Brent, the international crude benchmark, has increased $15 per barrel in about four months to […]
Senior US treasury officials to urge India to maintain implementation of Russian oil price cap
Washington: Two senior US treasury officials are in India to urge New Delhi to maintain the implementation of the oil price cap aimed at limiting profits to Russia, while also promoting stable global energy markets. Acting Assistant Secretary for Terrorist Financing Anna Morris and PDO Assistant Secretary for Economic Policy Eric Van Nostrand are travelling […]
ET Exclusive: RIL, Tata Motors and IOC to be key bidders for pilot GH2 project
MUMBAI: Reliance Industries (RIL), Tata Motors and Indian Oil Corporation (IOC) will be the key bidders for the government’s pilot project for the use of green/grey hydrogen (H2) in the transport sector, according to people who are aware of the development. The initiative is in line with the government’s aim to decarbonise the economy, reduce […]
GH2, green ammonia to drive $125 billion investments in India by 2030: Avendus
Green hydrogen (GH2) and green ammonia segments are estimated to drive investments of $125 billion (about ₹10.43 lakh crore) in India by 2030, according to a report by investment banking firm Avendus Capital. The report, titled ‘Green Hydrogen, The Next Frontier In Energy Transition’, said the growth would be driven by an increasing focus on […]
Why India cannot ignore coal anytime soon
Coal is projected to continue as the backbone of the Indian energy system until the next two decades and its phase-down will require active policies on critical minerals, according to a report by the Indian Institute of Management (IIM)- Ahmedabad. The report asserted that net zero is not possible without substantial nuclear power and renewable […]