India’s annual diesel consumption could rise to 150 billion litres by 2030 from 90 billion litres now, Oil Minister Dharmendra Pradhan said on Wednesday.
Siemens plans to cut about 6,900 jobs across its businesses supplying the power generation and oil and gas industries, which have been hit by the rapid growth of renewable energy.
British solar power projects developer Lightsource Renewable Energy and Australian bank Macquarie will jointly fund the development of large solar power projects in India, the bank said on Monday.
Indian Oil Corp, the country’s top refinery, has delayed maintenance shutdown at its 300,000 barrels per day (bpd) Paradip refinery in eastern Odisha state to March-April, a company spokesman said on Friday.
India is set to emerge as a key market for American crude exports in coming months, as refineries in that country are ramping up “test” purchases of U.S. grades to diversify their imports.
Saudi Arabia has cut crude oil allocations for November by 560,000 barrels per day (bpd), an oil ministry spokesman said on Monday, in line with the kingdom’s commitment to an OPEC-led supply reduction pact.
Oil giant Saudi Aramco will open an Indian subsidiary next week, three sources said, as the top global oil exporter looks to tap rising demand and invest in the world’s third-biggest consumer.
India plans to offer stakes of up to 60 percent in oil and gas fields owned by state energy companies that are already under production to private firms, said five government and company sources with knowledge of the matter.
India needs to double its refining capacity by 2040 to meet rising fuel demand as an expanding middle class buys more passenger vehicles and its economy grows, a top refinery official said on Wednesday.
Prime Minister Narendra Modi will announce a scheme for providing 24X7 electricity to all on September 25, Power Minister R K Singh said today.