Private jet fuel suppliers have significantly outpaced state-run companies in sales growth this fiscal year, achieving a 63% rise compared to the public sector’s 5.5%. Their market share has grown to nearly 12%, driven by aggressive marketing and expanded supply networks.
Ukraine used drones to hit a key Russian fuel depot. This is the second such attack in a week. The attack targeted facilities supplying Russia's military. Russia retaliated with widespread attacks on Ukraine's power grid. Fighting intensified in Ukraine's northeast. Russia claims to have captured two settlements. Several drone strikes caused casualties and damage in both countries.
India holds significant potential to become a major sustainable aviation fuel (SAF) producer, leveraging its ethanol resources and lipid feedstocks. IATA highlights India's existing ethanol production and the potential of agricultural waste for SAF. While global SAF production is increasing, it remains below projections, emphasizing the need for greater investment and development in SAF technologies.
The notices, sent between September and November, allege that companies wrongly classified CNG fuel tanks as general cylinders for compressed gas and paid 18% GST, despite these cylinders being exclusively used in motor vehicles. The authorities have sought unpaid tax from July 2017 to April 2024, with interest and penalty. Industry says this could have huge tax implications.
Scientists found a huge natural hydrogen source in America. It could power us for thousands of years. A test site shows promising results. This hydrogen burns clean, unlike fossil fuels. Researchers are studying how to extract and store it. A government grant will help their research. This discovery could change our energy future.
The GST Council meeting saw states opposing the inclusion of ATF under GST. Finance Minister Nirmala Sitharaman announced the states' decision. They prefer ATF to remain part of the crude petroleum diesel basket. The aviation sector's request for GST on ATF was denied. The existing tax structure for ATF will continue.
The GST Council is set to discuss several changes, including reducing tax on life and health insurance premiums, food delivery platforms, and aviation turbine fuel. It may raise taxes on luxury goods like wristwatches, shoes, and apparel, and introduce a 35% tax for sin goods.
Shares of aviation companies such as InterGlobe Aviation (IndiGo) and SpiceJet are expected to remain in focus today, as the government may discuss bringing aviation turbine fuel (ATF) under the Goods and Services Tax (GST) regime at the 55th GST Council meeting. This move, if implemented, could have a significant impact on the aviation sector.
Oil prices dipped in early Thursday trading as the U.S. Federal Reserve signaled a slower pace of interest rate cuts in 2025, potentially curbing fuel demand. Brent crude fell to $73.06 a barrel, while U.S. West Texas Intermediate crude dropped to $70.22. This decline reversed some gains from Wednesday, driven by falling U.S.
Oil prices remained steady in early Asian trading Tuesday, influenced by concerns about Chinese demand and anticipation of a U.S. interest rate decision. Prices retreated from recent highs following weak Chinese consumer spending data. Investors await the Fed's meeting, expecting a rate cut and insights into future monetary policy.
HPCL and NICDC have partnered to integrate HPCL's APIs with the Unified Logistics Interface Platform (ULIP). This integration will provide real-time visibility into HPCL fuel station locations and pricing, enabling logistics providers to optimize operations and reduce costs by improving route planning and minimizing downtime.
A new study reveals vast underground hydrogen reserves, estimated at 6.2 trillion tons, enough to meet global energy needs for two centuries. This challenges previous assumptions about hydrogen's ability to accumulate underground. While extraction methods need development, natural hydrogen offers advantages over produced hydrogen by eliminating storage concerns.
Airline ticket prices have not kept pace with inflation. Airlines struggle with high costs like jet fuel and administrative fees. They are price takers, facing limited control over both supply and demand. This makes increasing profits difficult. Airlines want to diversify revenue streams. However, small profit margins and weak finances complicate this goal.
Ukrainian drones launched attacks across several Russian regions, targeting an infrastructure facility with fuel storage in Oryol, causing a fire and damaging nearby homes. Air defenses intercepted drones in Krasnodar and Bryansk, while attacks in Belgorod resulted in minor injuries and property damage.
Festival season, farm harvest and assembly elections campaigns in Maharashtra and Jharkhand lift auto fuel demand to a six-month high.
ARAI, India's automotive testing authority, is adapting to the electric vehicle revolution. They are enhancing testing for EV safety, battery performance, and range, while still addressing ICE vehicle homologation with alternative fuels like CNG, ethanol, and hydrogen. ARAI collaborates with automakers, ensuring compliance with evolving national and international standards.
Road Transport Minister Nitin Gadkari outlined government efforts to tackle air pollution, reduce logistics costs, and lower fossil fuel imports. He highlighted projects converting rice straw to fuel, promoting precast construction materials, and developing green express highways. Gadkari also addressed road safety concerns and emphasized his commitment to socio-economic reform.
Fourteen companies, including Reliance and ReNew, have submitted bids for India's green hydrogen transition scheme. The bids total 450,000 tonnes of capacity, vying for a maximum of Rs 5,400 crore in incentives over three years. The scheme aims to boost domestic green hydrogen production and electrolyser manufacturing.
India's non-fossil fuel based power capacity reached 213.7 GW in November 2024. This is a 14.2% yearly increase. 14.94 GW of renewable energy was added between April and November 2024. Solar capacity reached 94.17 GW. Wind capacity reached 47.96 GW. Nuclear, bioenergy, hydro, and small hydro also contributed to the growth.
Toyota Kirloskar Motor's Executive VP Vikram Gulati advocates for tax incentives for hybrid vehicles, emphasizing that taxation should align with national goals such as reducing fossil fuel consumption, decarbonization, and promoting "Make in India."
The International Air Transport Association (IATA) projects over five billion air passengers in 2025, marking a historic milestone. Industry revenues are anticipated to surpass $1 trillion due to decreasing fuel prices. Despite supply chain disruptions and infrastructure issues, profits are estimated at $36.6 billion. However, aircraft delivery delays hinder airlines' efforts to modernize fleets and reduce emissions.
Airlines predict record profits and passenger numbers for 2025. Revenues are expected to top a trillion dollars. The industry expects 5.2 billion passengers to fly. Supply chain problems and rising taxes pose challenges. Jet fuel prices are projected to decrease. Geopolitical uncertainties could impact the industry.
India's Consumer Price Index (CPI) inflation is expected to decrease to 5.5% year-on-year in November, down from 6.2% in October, according to Morgan Stanley. This decline is primarily driven by falling food prices and a slowdown in core CPI, which excludes food and fuel. A report by Union Bank of India also predicts a decline in CPI inflation to 5.4%, citing a drop in vege
India's steel production is booming, but its dependence on coal raises concerns. The country aims for net-zero emissions by 2070. However, steel industry's growth relies on coal-fired plants. This approach clashes with decarbonisation efforts. Experts warn of stranded assets and financial risks. The government promotes green steel and carbon capture, but faces challenges.
India mandates domestically sourced solar cells for all new solar projects starting June 2026. This new policy expands the Approved List of Models and Manufacturers (ALMM) to include solar cells (List II), ensuring quality and boosting local manufacturing. Projects bid out before the order are exempt. This move supports India's 500 GW clean energy target by 2030.
The hip-hop star and entrepreneur has been accused of raping a 13-year-old girl in 2000, allegedly along with Sean “Diddy” Combs.
Jay-Z responded with a lengthy statement calling the allegations "idiotic." The accuser is anonymous.
Honda is recalling 205,760 SUVs in the US due to a fuel leak issue. The recall affects certain 2023-2025 Passport and Pilot models, where the fuel filler neck tube and pipe may separate. Dealers will inspect and repair the affected vehicles free of charge.
Greenzo Energy and EODev partnered to bring hydrogen fuel cell power generators to India and Nepal. Greenzo will distribute and maintain EODev's zero-emission generators, powered by Toyota fuel cell technology. This partnership aims to reduce reliance on fossil fuels and includes local assembly provisions, projecting $10 million in first-year business.
Suzlon Group secured a 302.4 MW wind power project from Jindal Renewables in Karnataka, expanding their partnership to a total of 702.4 MW. Suzlon will install 96 wind turbines, powering steel plants in Chhattisgarh and Odisha. This marks Suzlon's largest C&I order and supports India's renewable energy goals.