India, the world’s third largest oil consumer, on Tuesday said it is committed to energy transition but surviving the present and cushioning the vulnerable from price volatilities is essential before moving to clean and green energy. India has committed to net zero carbon emission by 2070 and has repeatedly emphasised that ‘dirty’ fuels like oil […]
Category: Oil & Gas
Oil prices rise on supply concerns, China demand outlook brightens
(Reuters) – Oil prices rose for a second day on Tuesday on supply concerns after an earthquake shuttered a major export terminal in Turkey and a field in the North Sea shut unexpectedly, while demand in China, the world’s biggest importer, looks set to increase. Brent crude futures rose 40 cents, or 0.5%, to $81.39 […]
Novatek in talks with Indian firms on LNG, may consider payment in rupees
BENGALURU, India (Reuters) -Novatek, Russia’s largest liquefied natural gas producer, has been in talks with Indian companies including GAIL on the supply of LNG and may consider taking payments in rupees, the company’s head Leonid Mikhelson said on Monday. He also said consumers in Europe, which have imposed sanctions on Russia over its actions in […]
RIL, Ashok Leyland unveil first hydrogen combustion-driven heavy-duty truck
Mukesh Ambani-led Reliance Industries (RIL) and Ashok Leyland on Monday unveiled India’s first Hydrogen Internal Combustion Engine (H2-ICE) powered heavy duty truck. The vehicle was flagged off by Prime Minister Narendra Modi in Bengaluru at the India Energy Week. Ashok Leyland, the Indian flagship company of the Hinduja Group and India’s leading commercial vehicle manufacturer, […]
Reliance shows hydrogen-run truck at India Energy Week; emits water, oxygen
Billionaire Mukesh Ambani’s Reliance Industries on Monday showcased a truck that runs on hydrogen, the cleanest known fuel whose tail emissions are only water and oxygen, at the India Energy Week here. The Ashok Leyland manufactured truck with two large hydrogen cylinders was put up at a hall adjacent to the main venue where Prime […]
Reliance showcases hydrogen-run truck at India Energy Week in Bengaluru
Billionaire Mukesh Ambani’s Reliance Industries on Monday showcased a truck that runs on hydrogen, the cleanest known fuel whose tail emissions are only water and oxygen, at the India Energy Week here. The Ashok Leyland manufactured truck with two large hydrogen cylinders was put up at a hall adjacent to the main venue where Prime […]
OPEC+ should get due recognition for constructive role: Secretary General
BENGALURU (Reuters) – OPEC Secretary General Haitham Al Ghais said on Monday the collective decision to cut output in October was the right move and added that credit should be given to the OPEC+ alliance for its constructive role in supporting global market stability. “Due recognition should be given for our constructive and positive role […]
India’s share in global oil demand expected to rise to 11%, gas to 500%: PM
Prime Minister Narendra Modi on Monday said that India’s share in the global oil demand is expected to increase to 11 per cent, while the gas demand is expected to rise up to 500 per cent. He underlined that new opportunities for investment and collaboration are being created by the expanding energy sector of India. […]
Petrol doped with 20% ethanol goes on sale in 11 states/UTs to cut emission
Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per […]
India’s steady appetite for Russian crude lifts Jan inflows to record high
India’s appetite for Russian crude oil in January rose to unseen levels, continuing to remain above traditional middle eastern suppliers for the fourth month in a row, as refiners rushed to snap up plentiful cargoes available at a discount to other grades. From a market share of less than 1 per cent in India’s import […]
Focused on green shift despite war-led scramble for conventional fuel: Puri
Despite the war in Ukraine having led to a scramble for securing traditional hydrocarbons, India has kept its commitment to green transition, Petroleum Minister Hardeep Singh Puri said at the India Energy Week 2023. “No matter what the global turbulence, we have not taken the eye off the ball. Green transition is the most important […]
India Energy Week: PM Modi seeks more investments in oil & gas, refineries
Even as India remains committed to green growth, it would need major investments in the traditional oil and gas sector, Prime Minister Narendra Modi said on Monday, as he invited foreign investors. Speaking at the first edition of the India Energy Week 2023 in Bengaluru, Modi also assured investors that the government is working to […]