Indian oil explorer ONGC Videsh has sold a cargo of Russian Sokol crude at a premium of about $5.75 a barrel to Dubai quotes via a tender, two trade sources told Reuters on Wednesday
Coal India Chairman Anil Kumar Jha on Wednesday said renewables are unlikely to surpass coal as the major source for power generation in the near future and asserted that India’s energy migration scenario will be different compared to many other countries.
Brent crude oil futures rose above $60 a barrel for the first time in over a week on Wednesday after a data report showed a larger-than-expected drop in U.S. crude inventories, but ongoing worries about a possible global recession capped gains.
Gautam Thapar-promoted CG Power and Industrial Solutions Ltd on Tuesday said an investigation by its board found major governance and financial lapses, including advances to related and unrelated parties as well as liabilities of the company and the group potentially being understated by hundreds of crores of rupees.
Indian Oil, Bharat Petroleum and Hindustan Petroleum will soon shuffle millions of cooking gas consumers between their agencies to expand the customer base for newly-appointed distributors and help make their business viable.
State-run power generator NTPC’s Kaniha unit in Angul district of Odisha is facing coal shortage due to a strike by villagers at the Kaniha Open Cast Project (KOCP). The coal supply to the Kaniha unit from KOCP has stopped since August 18 due to a strike by villagers at the mines end, an NTPC statement said on Tuesday.
Even a day after two more people died as a result of the burn injuries suffered in a fire accident at an Offshore Support Vessel (OSV), neither Hindustan Petroleum Corporation Limited (HPCL) nor the OSV contracting company has lodged any complaint about the accident.
The NGT Tuesday directed an advocate to approach an oversight committee with his plea seeking action against Essar Power MP Ltd for allegedly damaging crops and environment as fly ash leaked from its power plant in Singrauli.
Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.
India is one of the fastest-growing economies in the world and one of the largest importers of oil. India’s refining capacity is expected to increase to about 439 million tonnes per year by financial year 2029-30, according to a report of the Working Group on Enhancing Refining.