Oil prices held steady following a ceasefire agreement between Israel and Hezbollah. OPEC+ considered delaying planned oil output increases. US crude stocks declined, while fuel inventories rose. A potential 25% tariff on Mexican and Canadian imports, including crude oil, was announced by then US President-elect Donald Trump. These factors influenced market dynamics.
Amara Raja Infra completed India's first green hydrogen fuelling station in Leh, built for NTPC Ltd. The station, inaugurated on Sunday, produces 80kg of green hydrogen daily and will power five hydrogen fuel cell buses, promoting emission-free transport in the challenging high-altitude terrain. This project marks a significant step in India's National Hydrogen Energy Mission.
Experts warn of a challenging winter ahead, particularly if temperatures plummet. The situation has raised concerns about energy rationing and economic stability.
Amara Raja Infra completed India's first green hydrogen fuelling station in Leh, Ladakh, for NTPC Ltd. The station, inaugurated on Saturday, produces 80kg of green hydrogen daily and will power five hydrogen fuel cell buses, promoting emission-free transport in the challenging high-altitude terrain. This project marks a significant step in India's National Hydrogen Energy Mission.
The COP29 climate summit concluded with a new climate finance target of at least $300 billion by 2035 to aid developing nations in transitioning from fossil fuels. The agreement, reached after intense negotiations, will see contributions from various sources, including multilateral development banks.
Fossil fuel exports have been a hot topic at the United Nations climate conference in Baku this year, with activists and delegates from some climate-vulnerable countries arguing nations should be held accountable for the pollution they send overseas - often to poor developing nations - in the form of oil, gas and coal.
Diesel makes up about 4 out of every 10 barrels of oil used in India, with softness occurring amid weak buying signals from China and Europe
Tripura government will start rationing petrol from November 10. The decision comes after a railway track derailment disrupted fuel supply to the state. Two-wheeler owners will get petrol worth Rs 200 per day. Three-wheelers will get Rs 400 worth of petrol. Four-wheeler owners will have access to Rs 1000 worth of petrol daily.
Moody's Ratings predicts that India and other Asian nations could benefit from US-China tensions and investment shifts under a potential Donald Trump presidency. Trump's protectionist trade policies, particularly towards China, are expected to redirect trade and investment flows, potentially benefiting India and ASEAN countries. However, these policies could also disrupt global supply chains and hinder global growth.
Russian fuel oil and vacuum gasoil (VGO) exports dipped 3% in October, with India and Saudi Arabia emerging as top recipients. While Saudi imports dipped, India's intake surged as it sought cheaper alternatives to Urals crude. China, another major importer, saw a decline amidst potential tax reforms impacting fuel oil demand.
Vineet Mittal, Founder and Chairman of Avaada Group, projects that India will achieve a complete solar equipment manufacturing ecosystem within the next four to five years. This ambitious goal aims to reduce reliance on imports and establish India as a renewable energy leader.
Diesel and petrol consumption rise during the month
New credit card rules: ICICI Bank informed its credit card users via SMS regarding the updates. Here’s a summary of what changes are being implemented for ICICI Bank credit card customers, based on an SMS that was sent by the bank.
New credit card rules: ICICI Bank informed its credit card users via SMS regarding the updates. Here’s a summary of what changes are being implemented for ICICI Bank credit card customers, based on an SMS that was sent by the bank.
India has significantly cut its oil and gas subsidies by 85 per cent from 2013 to 2023. This was achieved using policy reforms including phasing out petrol and diesel subsidies and increasing taxes. The extra tax revenue from these increases funded renewable energy projects, electric vehicles, and LPG usage among the rural poor, reshaping India's energy landscape.
India has significantly cut its oil and gas subsidies by 85 per cent from 2013 to 2023. This was achieved using policy reforms including phasing out petrol and diesel subsidies and increasing taxes. The extra tax revenue from these increases funded renewable energy projects, electric vehicles, and LPG usage among the rural poor, reshaping India's energy landscape.
Jet fuel (ATF) prices have been increased by 3.3% to Rs 90,538.72 per kilolitre in the national capital, following previous reductions. The price of commercial LPG was hiked by Rs 62 to Rs 1,802 per 19-kg cylinder. Prices for petrol and diesel remain unchanged since mid-March.
Jet fuel (ATF) prices have been increased by 3.3% to Rs 90,538.72 per kilolitre in the national capital, following previous reductions. The price of commercial LPG was hiked by Rs 62 to Rs 1,802 per 19-kg cylinder. Prices for petrol and diesel remain unchanged since mid-March.
Oil prices rose driven by unexpected drops in U.S. crude and gasoline inventories and potential delays in OPEC+ output increases. Brent and WTI futures gained after a significant mid-week rally. Analysts attribute the rise to stronger-than-anticipated fuel demand and potential postponement of OPEC+ production hikes.
Oil prices rose driven by unexpected drops in U.S. crude and gasoline inventories and potential delays in OPEC+ output increases. Brent and WTI futures gained after a significant mid-week rally. Analysts attribute the rise to stronger-than-anticipated fuel demand and potential postponement of OPEC+ production hikes.
One year after world leaders issued the landmark call for a global move away from fossil fuels, nations are failing to turn that promise into action, say climate diplomats, campaigners and policy experts. Many are promising bold policies that align with agreed warming limits, but are approving new oil and gas fields -- an impossible contradiction, says the UN's expert climate panel.
One year after world leaders issued the landmark call for a global move away from fossil fuels, nations are failing to turn that promise into action, say climate diplomats, campaigners and policy experts. Many are promising bold policies that align with agreed warming limits, but are approving new oil and gas fields -- an impossible contradiction, says the UN's expert climate panel.
North Korea recently launched an intercontinental ballistic missile, the Hwasong-19, calling it "the world's strongest." Experts question its wartime practicality due to its enormous size. Analysts suggest North Korea still faces technological challenges in making functional ICBMs. The launch appears partly as a response to international criticisms and to draw attention before the U.S. presidential election.
North Korea recently launched an intercontinental ballistic missile, the Hwasong-19, calling it "the world's strongest." Experts question its wartime practicality due to its enormous size. Analysts suggest North Korea still faces technological challenges in making functional ICBMs. The launch appears partly as a response to international criticisms and to draw attention before the U.S. presidential election.
India's petrol consumption increased by 7.3 per cent in October due to festive season demand. However, diesel sales decreased by 3.3 per cent, partly due to lower agricultural demand from extended rains. LPG and ATF sales saw year-on-year increases, with LPG up by 7.5 per cent and ATF by 2.5 per cent.
India's petrol consumption increased by 7.3 per cent in October due to festive season demand. However, diesel sales decreased by 3.3 per cent, partly due to lower agricultural demand from extended rains. LPG and ATF sales saw year-on-year increases, with LPG up by 7.5 per cent and ATF by 2.5 per cent.
Petrol and jet fuel sales increased by around 8.5% in October due to higher travel during the festive season. Diesel sales remained stagnant, affected by factors such as high rainfall and a shift towards electricity by farmers and railways. LPG sales rose by 7.5%.
Petrol and jet fuel sales increased by around 8.5% in October due to higher travel during the festive season. Diesel sales remained stagnant, affected by factors such as high rainfall and a shift towards electricity by farmers and railways. LPG sales rose by 7.5%.
The Centre has categorized blended aviation turbine fuel under mineral items, introducing excise duties, and is considering voluntary use by 2024 and mandatory by 2027. The aviation industry is concerned about increased fuel costs and potential need for incentives, with ongoing consultations among various ministries.
The Centre has categorized blended aviation turbine fuel under mineral items, introducing excise duties, and is considering voluntary use by 2024 and mandatory by 2027. The aviation industry is concerned about increased fuel costs and potential need for incentives, with ongoing consultations among various ministries.