Truckers across India are facing long waits for diesel as private fuel stations have cut sales or raise prices. State-run companies are struggling with demand, leading to shortages. This situation has impacted the movement of goods nationwide. A modest price increase is expected soon, but it may not fully cover losses for fuel companies.
Governments globally are implementing diverse strategies to mitigate soaring energy costs stemming from the U.S.-Israeli war on Iran. Measures include fuel tax adjustments, reserve releases, external financing, subsidies, tax cuts, and energy conservation efforts. Countries are also exploring increased use of domestic resources and alternative energy sources.
The Competition Commission of India has approved four business deals, including Adani Power’s acquisition of GVK Energy and Canada Pension Plan Investment Board’s stake in Ctrl S Datacenters. The regulator also cleared Thriveni Earthmovers’ purchase of a stake in Llyods Engineering Works and the merger of three entities into the company.
Speaking about the potential hike in fuel prices, India’s Oil Minister Hardeep Puri reassured the public while acknowledging the pressure on oil companies. The minister highlighted the importance of proactively addressing the economic strain caused by current fuel pricing strategies.
Tata Power is taking significant strides in its pursuit of nuclear energy. Currently, negotiations are underway with three states regarding its upcoming projects. Anticipation builds as a comprehensive project report is slated for release within the next six months. Additionally, Tata Power is teaming up with NPCIL to bring these nuclear initiatives to fruition.
India’s oil minister highlighted the need to address state-run fuel retailers’ mounting losses from selling petrol and diesel below market rates. Despite global price surges, pump prices remain unchanged, impacting companies significantly. Officials deem compensation fiscally unsustainable, suggesting a substantial but inflation-conscious price adjustment may be necessary soon.
India needs to boost its domestic coal gasification capabilities. This will build resilience against global energy shocks and achieve economic self-reliance. Coal gasification converts dry fuel into syngas, an alternative fuel that reduces carbon emissions. Experts highlight its strategic importance for energy security and import substitution. This initiative aims to strengthen India’s position in critical…
Union Minister Hardeep Singh Puri reassured citizens that no lockdown-like restrictions are imminent despite Prime Minister Modi’s call for fuel conservation amid the West Asia crisis. Puri asserted India’s energy supplies remain stable, with significant domestic LPG production increases and substantial oil and LPG reserves in place.
India’s Centre has lowered royalty rates for crude oil and natural gas production. This move aims to encourage more domestic exploration and production. Deepwater and ultra-deepwater fields will see significant royalty reductions. New policies offer zero royalty for initial years in these challenging areas.
The Supreme Court will review the Indian Energy Exchange’s challenge to a regulatory order. This order mandates market coupling for power trading. The court refused to halt the implementation of this process. The Indian Energy Exchange argues the order is arbitrary and will harm its market share. The Central Electricity Regulatory Commission is now required…