The Indian government has sacrificed nearly Rs 14,000 crore in tax revenue by lowering excise duty on petrol and diesel. This move aims to protect consumers from rising fuel prices driven by the West Asia crisis. Despite this, oil companies continue to face daily losses.
Kalpataru Projects International Ltd, KPIL, has announced new orders totaling approximately Rs 4,439 crore for its Transmission and Distribution business. These significant contracts span projects in Africa, India, and Sweden. This achievement surpasses KPIL’s annual order intake target of Rs 26,000 crore, highlighting the company’s strong performance in the power transmission and distribution sector.
India’s power consumption rose significantly in May. Heat waves across the nation drove up the use of cooling appliances. This led to a record high in peak power demand. The country’s power usage and demand are expected to remain strong. Projections indicate a harsh summer ahead.
New windfall tax rates on fuel exports take effect from June 1, 2026. Taxes are back on diesel and aviation turbine fuel after a period of nil levies. Petrol exports will also attract a duty. These revisions reflect changes in global oil prices and refiner margins. The government reviews these rates fortnightly.
Patratu Vidyut Utpadan Nigam Limited has started trial runs for its second 800 MW power unit. This boosts the project’s capacity to 1,600 MW. The NTPC group’s total installed capacity now exceeds 90 GW. Jharkhand will receive 85 percent of the power generated. Unit-3 is under construction and expected by FY27.
Iran’s IRGC Navy has imposed new restrictions on maritime traffic through the Strait of Hormuz, permitting only civilian vessels on designated Iranian routes. Military ships are explicitly barred from transiting the vital waterway. These directives follow Iran’s announcement of opening the strait and come amid US President Trump’s insistence on maintaining a naval blockade until…
India-Russia oil trade: Even January’s low is well above pre-war levels. More significantly, according to traders and refiners, volumes could rebound as unsanctioned suppliers squeeze in and a vast number of new trading intermediaries appear.
To boost coal demand and lower electricity costs, Coal India Limited has taken a new step. Power plants using CIL coal can now sell surplus electricity in power exchanges. This began on August 1. Earlier, power generators could only supply power under existing agreements. The revised policy allows sale of un-requisitioned surplus power in the…
Vedanta Ltd’s Meenakshi Energy Ltd (MEL) has fully operationalized its 1,000 MW thermal power plant in Tirupati, Andhra Pradesh, within two years of acquisition. The plant, comprising two 350 MW and two 150 MW units, will supply reliable energy to industrial clusters and stable baseload power to grids. This achievement underscores Vedanta’s commitment to India’s…
CG Power’s US subsidiary, CG DE SUB, LLC, has partnered with Flanders Electric Motors Service to enhance capabilities and expand in the USA rail market. This collaboration aims to leverage local expertise, offering superior products and services with competitive pricing and faster turnaround times. The partnership positions both companies to lead the future of rail…