France’s TotalEnergies has put on hold a planned investment in Adani Group’s USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller, chief executive Patrick Pouyanné said on Wednesday. While the partnership where the French oil giant was to take a 25 per cent stake in the hydrogen […]
Category: Oil & Gas
Piped gas supply affected in Greater Noida residential societies, IGL issues helpline numbers
Piped gas supply to several residential societies in Greater Noida was affected on Wednesday due to “technical issues”. While Indraprastha Gas Limited (IGL) later said that the gas supply had been restored, residents complained of still facing problems and raised concerns on social media, prompting IGL to issue helpline numbers. “Dear Customers, Due to some […]
West’s sanctions on Russia destroyed global energy markets, hurt Europe: Rosneft CEO Igor Sechin
Hitting out at the West, Russian oil major Rosneft’s chief executive officer Igor Sechin said sanctions against Russian energy have “destroyed” the principles of market trading, effectively abolishing contract law, while also severing global energy logistics chains that existed for decades. “There is no unified global energy market, and energy security is no longer global,” […]
Conscious of energy transition needs but must insulate consumers from price shocks: Puri
India is “actively conscious” of the need to facilitate energy transition to new and renewable energy but it also has to insulate consumers from energy price shocks in the interim, Petroleum Minister Hardeep Singh Puri today said, signaling that India is in favour of a gradual energy transition and not a sudden shift. Puri emphasised […]
25-year-old dead in cylinder blast in West Delhi
A 25-year-old man died after a cylinder exploded in a cylinder filling shop in west Delhi’s Tilak Nagar area on Tuesday evening, police said. A fire call was received at 7.40 pm regarding the blast in a general store in Valmiki Colony in Tilak Nagar, fire officials said, adding that six fire tenders were rushed […]
How Russia is surviving the tightening grip on its oil revenue
Shunned by the West, Russia was able last year to redirect its potent oil exports to Asia, marshal a fleet of tankers unencumbered by Western penalties and adapt evasion schemes perfected previously by its allies Iran and Venezuela. The strategy worked: President Vladimir Putin not only retained but increased money from energy exports, according to […]
ONGC set to start oil output from KG basin block in May, gas next year
After numerous delays, state-owned upstream major Oil and Natural Gas Corporation (ONGC) is finally set to start commercial crude oil production from its prolific deep-water block KG-DWN-98/2 from May and gas output from May of next year, the oil major’s director (offshore) Pankaj Kumar said at the India Energy Week here. ONGC plans to start […]
Hardeep Singh Puri says India will “play market card” in oil imports, to buy from whoever offers stable, affordable supply
As the third-largest consumer of crude oil, India will “play the market card” to secure affordable and predictable supply from “wherever it is available” to ensure energy security for its citizens, Petroleum Minister Hardeep Singh Puri today said. The ramp-up in India’s import of discounted Russian oil after Moscow’s invasion of Ukraine almost a year […]
Post VAT hike, Punjab residents will buy petrol, diesel from neighbouring states where fuel is cheaper: Opp
Opposition parties in Punjab, Congress and Shiromani Akali Dal, Saturday slammed Aam Aadmi Party (AAP) government in Punjab for increasing value added tax (VAT) on petrol and diesel. Leading the attack, Leader of Opposition Partap Singh Bajwa accused the Bhagwant Mann-led government of “burdening the Aam Aadmi (the common man) with fuel cess”. Bajwa demanded […]
Oil’s new map: How India turns Russia crude into the West’s fuel
India is playing an increasingly important role in global oil markets, buying more and more cheap Russian oil and refining it into fuel for Europe and the US. Yet New Delhi has faced little public blowback because it is meeting the West’s twin goals of crimping Moscow’s energy revenue while preventing an oil supply shock. […]
Kerala Budget: Fuel, liquor to cost more
Tax proposals, including Rs 2 social security cess on petrol and diesel, for additional resource mobilisation of Rs 2,955 crore figure in the Kerala government’s budget for 2023-24 fiscal, which was presented in the Assembly on Friday. The budget also proposed to increase the tax on Indian made foreign liquor (IMFL), which is already taxed […]
Petrol, diesel get dearer by 90 paise in Punjab
Looking to mop up an additional Rs 480 crore, the Punjab government Friday imposed a 90-paise per litre VAT on petrol and diesel. The decision was taken in a Cabinet meeting chaired by Chief Minister Bhagwant Mann and is the first tax on fuel imposed after the Aam Aadmi Party came to power in state […]