Odisha government has requested the Centre for the swift approval of Rs 3,069 crore under the Revamped Distribution Sector Scheme (RDSS). Deputy CM K V Singh Deo also urged for allocation of 800 MW power from NLC Talabira Phase-II project, in addition to the existing 400 MW, to strengthen disaster-resilient power infrastructure.
The govt has announced a reduction in the windfall tax for diesel exports to Rs 23 per litre and for aviation fuel to Rs 33 per litre, starting this Friday. This decision comes after a prior increase intended to protect domestic fuel supplies during global price escalations.
Indian refiners are proceeding cautiously with Russian oil tenders for September, awaiting clarity on potential penalties proposed by the U.S. government. While concerned about market tightening and price increases from a hasty shift away from Russian supplies, they are closely monitoring developments and relying on their own market assessments, as the government has not issued…
Indian Oil Corporation (IOC) Chairman Arvinder Singh Sahney said the newly inaugurated bulk petroleum storage facility in Ladakh, developed with the support of the Indian Army, will play a critical role in strengthening fuel security and logistics in high-altitude and forward areas.
Lenders to Jaiprakash Power Ventures are planning to sell their ₹3,800 crore investment in the company, acquired during a debt restructuring in 2019. This sale of compulsorily convertible preference shares would give the buyer a 25% stake, potentially leading to a controlling 51% stake after an open offer. ICICI Bank is leading the creditor group…
Donald Trump has commented on the fluctuating prices of oil and gas. He believes these costs could either decrease or increase before the upcoming US midterm elections. This statement underscores the current unpredictability in global energy markets. Geopolitical tensions and supply disruptions are key factors influencing these price movements. The situation remains uncertain as the…
Electricity trade on the Indian Energy Exchange saw a significant rise of 11.9 percent in the October to December quarter. However, renewable energy certificates experienced a notable decrease of 29.8 percent during the same period. The day-ahead market volume saw a slight dip, while the real-time market showed strong growth. The green market also recorded…
Andhra Pradesh records the highest petrol and diesel prices due to its elevated VAT, while Andaman & Nicobar Islands offer the lowest fuel costs. This disparity arises from varying state VAT rates and freight charges, as highlighted by the Minister of State for Petroleum and Natural Gas.
India is phasing out petrol and diesel vehicles. Union Minister Nitin Gadkari stated there is no future for these fuels. Manufacturers must switch to cleaner alternatives. Hydrogen and ethanol are highlighted as key fuels. India is already producing ethanol from various sources. Pilot projects for hydrogen trucks and buses are underway.
India Ratings and Research (Ind-Ra) projects coal-based power will remain crucial for base load management in the medium term, despite strong renewable capacity additions. Thermal capacity additions are expected to accelerate in FY26, driven by demand expectations. Ind-Ra maintains a stable outlook for thermal, solar, and wind power projects, citing healthy performance and payment trends.