Speaking at the CII Summit on Friday, road transport and highways secretary V Umashankar said since diesel consumption is almost two times that of petrol consumption, the impact of diesel blending will be far greater on our energy security than even petrol blending. The event saw the launch of a CII Knight Frank Report which…
India has asked state-run fuel retailers to increase the storage capacity of liquefied petroleum gas to meet 30-days’ demand, Sujata Sharma, a joint secretary in the federal oil ministry said on Friday.
Indian Oil Corporation has secured a significant crude oil purchase. The state refiner bought five million barrels from West Africa and the Middle East. This acquisition includes Angolan Kissanje and Nemba crude for its Paradip refinery. Nigerian Usan crude and Abu Dhabi’s Murban crude were also purchased for delivery to Vadinar and Chennai refineries.
India’s power companies have significantly boosted natural gas purchases from a domestic exchange, quadrupling them to combat soaring summer electricity demand. Blistering heatwaves have driven peak power needs to record highs, forcing reliance on gas-fired plants. Despite price hikes and supply challenges, this fuel is crucial for meeting demand, though shortages persist.