India will see a massive investment of $118 billion in oil and gas exploration as well as in setting up of natural gas infrastructure in the next few years as the country prepares to meet the needs of a fast growing economy, Oil Minister Dharmendra Pradhan said on Monday.
The International Energy Agency cut forecasts for growth in global oil demand, noting that fears of an economic slowdown are overshadowing the loss of supply during last month’s attack on Saudi Arabia.
With torrential rains hitting coal production, Coal India Ltd. on Wednesday said it is keeping a close watch on the current situation to ensure supplies to power plants. As on Sept. 30, the state-owned major said coal stock at power plants stood around 17.3 million tonne, which is sufficient for 11 days.
Bharat Petroleum Corporation Ltd.’s best share surge in more than a decade on India’s reported privatisation plan has made it the world’s most expensive fuel refiner and retailer. But it has now
India’s largest private renewable power producer is doubtful that the nation will meet its 175-gigawatt green energy target by 2022 owing to uncertainty caused by tariff dispute in Andhra Pradesh.
India’s top three oil marketing companies may report higher profit in the quarter ended September even as possible inventory losses and stalled consumption offset gains from rising margin.
India’s NTPC Ltd. plans to set up a 5 gigawatt solar park in the western state of Gujarat, which would be the biggest in the country, as the top electricity generator shifts toward cleaner energy.
NTPC Ltd. on Friday announced incorporation of a subsidiary, NTPC Mining Ltd., paving the way for its foray into commercial coal mining. The state-run power firm also has plans to list the coal subsidiary on the stock exchanges.
Lower tariffs for wind power developers after India moved to competitive bidding has hurt wind turbine makers. The situation stems from transition from feed-in tariffs to auctions in 2017 that drove wind energy tariffs to record lows.
The IL&FS Board sought the approval of the National Company Law Tribunal to sell seven wind assets to Japan’s Orix Corporation for Rs 4,800 crore. This will help reduce its debt burden of Rs 94,000 crore.