Reliance Industries Ltd said on Thursday that a required majority of its shareholders have passed the resolution to appoint Saudi Aramco Chairman Yasir Al-Rumayyan as an independent director to the conglomerate’s board. A little over 98% of the total votes polled on the resolution were in favour of Al-Rumayyan’s addition, Reliance said in a statement. […]
Category: Oil & Gas
GAIL seeks to procure India’s largest Hydrogen electrolyser
GAIL (India) is in the process of procuring what could be the largest Hydrogen electrolyser in India. Speaking at the side lines of India Energy Forum by CERAWeek, GAIL Chairman Manoj Jain said that a global tender for the same has already been floated for the 10 MW electrolyser. “The electrolyser will be deployed in […]
Fossil fuel plans evade Paris limits, says UNEP report
Despite increased climate ambitions and net-zero commitments, governments still plan to produce more than double the amount of fossil fuels in 2030 than what would be consistent with limiting global warming to 1.5°C, according to the 2021 Production Gap Report by leading research institutes and the UN Environment Programme (UNEP). The report, first launched in […]
Fossil fuel plans would far overshoot climate goals, says study
The world needs to cut by more than half its production of coal, oil and gas in the coming decade to maintain a chance of keeping global warming from reaching dangerous levels, according to a UN-backed study released Wednesday. The report published by the UN Environment Program found that while governments have made ambitious pledges […]
High oil prices will undermine global recovery, warns India
India, the world’s third-largest energy consumer, on Wednesday warned that high oil prices will undermine global economic recovery, and nudged Saudi Arabia and other OPEC nations to work towards affordable and reliable supplies. Petrol and diesel prices have shot up to record highs across the country after relentless price increases since early May. “If energy […]
India talks tough at CERAWeek, pushes for lowering of crude oil price
India has taken an aggressive stand during conversations with oil producing nations and pushed for lowering the price of crude oil. Speaking at the ongoing India Energy Forum by CERAWeek, Petroleum Minister Hardeep Puri on Wednesday said that petrol, diesel, Piped Natural Gas (PNG), and Compressed Natural Gas (CNG) prices have risen to the highest […]
PM Modi meets global oil executives, urges to boost local production
India wants to increase domestic oil and gas production after it has undertaken reforms in the sector to attract investment. This comes at a time when the country’s crude oil import bill has zoomed over 3x, compared with 2020-21 when oil prices breached $85 per barrel. Prime Minister Narendra Modi on Wednesday met around 30 […]
High prices could slow India’s transition to gas in its energy mix
NEW DELHI (Reuters) – High prices threaten India’s goal to boost the use of gas in its energy mix as some industries are looking at switching back to coal and petcoke, a top bureaucrat in the federal oil ministry said on Wednesday. Prime Minister Narendra Modi has set a target to raise the share of […]
Why Ajit Pawar is opposed to bringing petrol, diesel under GST: Patil
Fuel prices would be lower if they are brought under the Goods and Services Tax (GST) regime but Maharashtra Deputy Chief Minister Ajit Pawar was opposed to it, state BJP chief Chandrakant Patil claimed here on Tuesday. He was replying to a question about an editorial in the Shiv Sena’s mouthpiece ‘Saamana’ over rising fuel […]
Crop fires take India’s global contribution to GHG emissions to 12.2%
A latest data analysis has shown that compared to the previous three years, there has been an increase in emissions due to crop fires in 2019-2020 by 12.8 per cent, taking India’s global contribution to 12.2 per cent. The new insights into recent trends in biomass fires, including emissions from forest and crop residue fires […]
World shares dip as China growth disappoints, oil extends rally
World shares dipped on Monday after data showed slower-than-expected growth in China’s economy last quarter and surging oil prices fed inflation concerns. Calls by China’s President Xi Jinping on Friday to make progress on a long-awaited property tax to help reduce wealth gaps also soured the mood. An MSCI gauge of global stocks was down […]
As fuel prices spike, India plans refiners’ joint deals to cut import bill
India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world’s third largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of […]