Oil prices increased on supply concerns in the Middle East and higher fuel demand due to a major storm in Florida. Israel is planning to strike Iran. U.S. President Biden discussed the issue with Israeli Prime Minister Netanyahu. A recent storm has raised demand for gasoline in Florida, contributing to higher crude prices.
France and India are collaborating to establish an aeronautics cluster and an Indo-French campus for professional training in aeronautics and space. This initiative aims to boost their long-term strategic partnership, particularly in defence and aerospace, and includes efforts to develop a sustainable aviation fuel supply chain.
Maruti Suzuki has announced the Grand Vitara Dominion Limited Edition, available from October in Alpha, Zeta, and Delta variants. The model offers upgrades and accessory kits for both exterior and interior enhancements. This edition aims to build on the success of the Grand Vitara by meeting evolving customer preferences for styling and a premium in-cabin experience.
Researchers report that 25 out of 35 planetary vital signs have hit record levels, indicating worsening climate change. Key indicators include increased surface temperatures, ocean heat, and rising sea levels. Fossil fuel emissions are at an all-time high. Calls for transformative change stress reducing overconsumption and human population growth to prevent irrecoverable climate disaster.
The state government is extending its generator subsidy for another five years for polluting industries in NCR districts. This aims to help them switch to cleaner fuel. The scheme provides a subsidy of up to 50% on the cost of generators using cleaner fuels like LPG and natural gas, to reduce winter pollution.
India could produce 8-10 million tonnes of Sustainable Aviation Fuel (SAF) by 2040, requiring $70-85 billion in investments, according to a Deloitte India report. SAF aims to propel aviation sector decarbonisation, with the potential to reduce carbon emissions by 20-25 million tonnes annually. These initiatives are expected to create 1.1-1.4 million jobs and lower crude oil import bills by $5-7 billion yearly.
BPCL partners with Mumbai Port Authority and Mumbai Port Sustainability Foundation to set up EV charging stations and convert diesel vessels to cleaner fuels, aiming for sustainable maritime operations. The collaboration includes waste management initiatives to enhance environmental responsibility and reduce the port’s carbon footprint.
BPCL, Mumbai Port Authority, and Mumbai Port Sustainability Foundation have partnered to create a green fuel ecosystem at Mumbai Port. This initiative includes setting up EV charging stations, converting diesel vessels to cleaner fuels, and enhancing waste management. The collaboration aims to support India’s environmental goals by reducing greenhouse gas emissions.
Rapper Sean 'P Diddy' Combs faces serious accusations of sexually abusing 120 individuals, including 25 minors, with a boy as young as nine. Allegations involve drugging victims with horse tranquilizers. He was indicted on multiple counts of abuse and coercion and remains jailed in New York, while his lawyers seek bail ahead of trial.
Several companies are canceling and scaling back green hydrogen projects due to high costs and slower-than-expected market development.
EET Fuels, owner of the Stanlow refinery in the UK, has secured $650 million in financing and trade credit, bolstering its efforts to reduce emissions by 95% by decade-end through industrial carbon capture and blue hydrogen. This funding reflects strong market confidence in the company's decarbonization strategy.
Sean “Diddy” Combs has filed an appeal against a federal judge’s decision to keep him in jail while he awaits trial for sex trafficking charges. His legal team is challenging the ruling, which claims that Combs poses a danger to the community. The case involves allegations that Combs used his influence to coerce women into drug-fueled sexual performances. He is scheduled for a court hearing on October 9.
Petrol sales in India saw a 2.8% increase in September year-on-year, while diesel fell by 2%, indicating an oil demand slowdown. LPG sales rose by 1%. The growth rates for these fuels in September were lower than the April-August averages. Jet fuel sales jumped 9.5% driven by strong air traffic.
The ATF prices have been cut to Rs 87,597 per kg in Delhi, down from Rs 93,480 per kg earlier. The price reduction will help ease the burden on airlines for whom fuel makes up 40% of the airlines’ operating costs.
Effective October 1, Coal India Ltd (CIL) will implement uniform interest rates on receivables past due, aiming for ease of business. Previously, interest rates varied even for the same buyer under different fuel supply agreements. The change addresses consumers' concerns about inconsistent interest rates.
Some demand growth for this product to come from the petrochemical industry, commercial and agriculture sectors
The Reserve Bank of India reports that fossil fuels' dominance in India's electricity generation will end by the decade's close. Renewable energy is expected to surpass 50% globally. The RBI emphasizes the need for tripling renewable investments to meet net-zero targets and highlights the importance of addressing sectors like steelmaking and aviation.
AI's potential to aid in greening the world while consuming significant energy is not paradoxical. It can enhance energy efficiency and expedite the transition to renewable sources. Overcoming challenges like energy demand, computing capacity, and skilled personnel is crucial for AI's widespread application and commercial viability.
The article discusses the persistent issues in urban planning across Indian cities, focusing on Kolkata's decision to phase out its tram services. It highlights the government's failure to prioritize sustainable public transport and criticizes the ongoing preference for private vehicles, which exacerbates pollution and chaos in urban areas.
Indian oil marketing companies are experiencing significant profits due to falling crude oil prices, but consumers have yet to see a substantial reduction in petrol and diesel prices. Despite the financial success of companies like IOC, BPCL, and HPCL, fuel prices remain high, impacting household expenses and inflation.
Recent declines in crude oil prices have improved margins for state-owned fuel companies, allowing potential cuts in petrol and diesel prices by Rs 2-3 per litre. The price of imported crude oil averaged $74 per barrel in September, down from $83-84 in March. This could lead to reduced retail fuel prices if crude prices remain stable.
India's clean oil-product exports surged to their highest since March 2022, driven by increased demand from Europe and Africa due to refinery shutdowns. In September, shipments of diesel, gasoline, and jet fuel reached 1.5 million barrels a day, marking a 39% year-on-year increase. European refinery maintenance and poor margins contributed to this spike.
Oil prices remained stable on Thursday after a previous decline, as increased fuel demand and reduced stockpiles in the U.S. balanced concerns over global demand, especially in China. Brent crude rose to $73.55 per barrel, while U.S. West Texas Intermediate reached $69.73 per barrel, following China's stimulus measures and easing supply disruptions in Libya.
Founded in 2019, Nawgati is a one-stop fuel aggregator platform that addresses the pain points of compliance and congestion monitoring for the fuelling industry.
Global leaders face a fractured world at the U.N. General Assembly, grappling with climate change and geopolitical tensions.
The recent drop in oil prices could allow the Indian government to increase excise duty while offering moderate fuel price cuts to consumers. This strategy may help ease inflationary pressures. A report by BofA Securities suggests potential revenue gains and reduced import costs, benefiting India's economy.
CGD companies have two types of exclusivities for selling natural gas. One is marketing, allowing exclusive rights to sell gas for 7-8 years. Second is infrastructure, allowing exclusive use of pipelines for 25 years
A New York-based startup, Amogy, has successfully converted a 67-year-old diesel tugboat to run on cleanly-made ammonia, demonstrating a significant step towards zero-emissions maritime propulsion. This innovation aims to address the increasing carbon dioxide emissions from shipping, which account for about 3% of global emissions.
Hyderabad-based AM Green Technology and Solutions has signed a binding agreement to acquire Finland's Chempolis Oy and Fortum 3 B. entities, marking its entry into biofuels. The company plans to invest $1 billion over the next three years to produce sustainable aviation fuel for global airline decarbonisation. AM Green will also acquire Fortum's shares in Assam Bio Refinery in India.