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.
During a military parade, Iran showcased a new ballistic missile and an enhanced one-way attack drone, according to state media. The solid-fuel Jihad missile has a range of 1,000 km, while the upgraded Shahed-136B drone can travel over 4,000 km. Supreme Leader Ayatollah Ali Khamenei urged Islamic nations to sever ties with Israel.
India plans to expand its nuclear power capacity over the next two decades to meet energy security and climate goals. The country is building new reactors, including 700-MWe PHWRs and a 500-MWe PFBR. Private players are also being involved in developing small modular reactors and new nuclear technologies.
India's fuel consumption is rising while global demand weakens, affecting next year's crude purchase negotiations. The govt plans to pass benefits of a new oilfield law to winners of the ninth exploration licensing round. The volatile market may delay state-run companies from reducing consumer prices.
India and the US have agreed to boost sustainable aviation fuel, promote electrification of medium and heavy-duty vehicles, and use hydrogen in buses and tractors. The agreement was made during the Strategic Clean Energy Partnership dialogue, highlighting investments in clean energy markets and modernising power distribution for reliable energy access.
Reliance Industries and BP's joint venture has significantly increased its petrol and diesel sales in India this year, achieving a market share of 2.75% for petrol and 4.35% for diesel. Nayara also saw growth, while Shell experienced mixed results. Private players' market share in fuel retail has risen amid declining refining margins globally.
International oil prices remain volatile, causing uncertainty in petrol and diesel price reductions despite lower input costs. State-owned fuel retailers have not revised rates since late 2021, citing volatility. Petrol and diesel prices are currently frozen, with potential cuts before Maharashtra elections uncertain.