NTPC Ltd has awarded Accenture Solutions a contract to conduct feasibility studies for installing small modular reactors at old thermal power stations. This initiative aligns with India’s goal to achieve 100 GW of nuclear energy capacity and repurpose existing infrastructure. The conversion leverages available land, water, and transmission lines, while exclusion zones are a key…
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…
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.
Petroleum Minister Hardeep Singh Puri announced a surge in India’s oil and gas exploration, particularly offshore, driven by opening ‘No-Go’ areas in 2022. Since 2015, 172 hydrocarbon discoveries were reported, with 62 offshore. ONGC and OIL have launched ambitious exploration campaigns, including ultra-deepwater drilling in the Andaman region, following promising seismic data.
Several top executives have left Nayara Energy. This includes directors and senior personnel. The resignations follow EU sanctions on the Rosneft-backed company. Those who resigned are Victoria Cunningham, Avril Mary Anne Conroy, Jorg Tumat, and Barbara (Hofbauer) Oberhauser. Alessandro Des Dorides also quit earlier. Nayara Energy has denounced the sanctions. Sergey Denisov is the new…
Reliance Industries, ONGC, and BP Exploration have formed a joint operating agreement to explore Block GS-OSHP-2022/2 in the Saurashtra Basin. ONGC will operate the block, awarded under the Hydrocarbon Exploration and Licensing Policy. The consortium aims to assess and develop the hydrocarbon potential of the 5,454 square kilometre offshore area.
India’s oil and gas sector is strategically transforming amidst global shifts, with Russian oil now dominating imports at 35% in FY25, a surge from 2% in FY20. This shift impacts Middle Eastern suppliers as India safeguards its USD 44.4 billion petroleum exports amid US sanctions. While India’s crude import dependency rises to 88.
In June, India and Taiwan emerged as the primary destinations for Russian seaborne naphtha exports, driven by competitive pricing and robust domestic demand. India’s imports reached 250,000 tons, while Taiwan doubled its intake to 234,000 tons. Due to Red sea crisis, shipments are being rerouted via Southern Africa, impacting delivery times and costs.
VFlowTech partners with FITT at IIT Delhi to research vanadium recovery from petcoke, aiming to establish India’s first circular vanadium ecosystem. This initiative converts refinery waste into battery-grade vanadium pentoxide for long-duration batteries, supporting grid stability and renewable energy deployment. With recent funding, VFlowTech advances local R&D and a ‘Made-in-India’ vanadium value chain.
Nayara Energy, an Indian refiner recently sanctioned by the EU, is reportedly shifting to domestic firms after Microsoft suspended its services. The company has condemned the sanctions and has filed a case against Microsoft in the Delhi High Court over the service withdrawal.