'India is there to stay as it has always been a consumer.' 'Its consumption has been huge, mainly due to demographics.'
India cannot ignore the neglect of climate finance by the developed nations, Modi asserted at G20 session
Prime Minister Narendra Modi on Friday alleged that "urban Naxals and anti-development elements" with political backing had stalled the construction of Sardar Sarovar dam on the Narmada river in Gujarat for many years by running a campaign that it would harm the environment.
The Minister said the department is yet to calculate the exact interest-free loans to be provided to the industry.
The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
India's appetite for imported crude oil may wane in fiscal year (FY) 2023 from record levels in pre-pandemic 2019-20 fiscal as higher oil prices, a spillover from the conflict in Ukraine, and increasing use of biofuels affect domestic demand for petroleum products. Brent crude surged to a nine-year high, shy of a July 2008 record $147.50 a barrel, before declining to around $100 a barrel - but the volatility in commodity rates will slow global economic growth and use of fuels. Demand for all oil products may grow at only 2-3 per cent in FY23, slower than the current fiscal and nearly half the 5.5 per cent growth estimated by the petroleum ministry, according to industry officials.
In 2015, India chemicals industry had a market size of $144 billion.
The production in Maharashtra is pegged higher at 11-11.5 million tonnes against 10.71 million tonnes
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Cellulosic ethanol is a biofuel produced from wood, grasses or the non-edible parts of plants.
A senior RIL executive confirmed this development, but refused to divulge further details. "There has been some research on producing ethanol from jethropa. However, the tests have not been confirmed," said a scientist who has been working with the Gujarat state government for studying crops in Kutch. Another view by the industry experts is that the sugar industry in South Gujarat is not finding enough takers for the ethanol produced.
These decisions are aimed at helping mills in clearing part of over Rs 22,000-crore arrears to cane farmers.
'This is a huge step in promoting the 'Make in India' mission as this bio-fuel would be produced from Tree Borne Oils sourced from tribal areas and farmers.'
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
Reliance Industries, Tata Chemicals, Bharti Enterprises' Fieldfresh and Indian Oil are among several large companies that have evinced interest in leasing closed sugar mills that the Bihar government is offering, mainly to exploit opportunities to make ethanol to meet mandatory petrol blending norms that were introduced this year.
Sugar industry is plagued by falling realisations, rising costs, huge carry over stocks leading to liquidity problems and huge losses.
India annually spends Rs 4.5 lakh crore on importing petroleum products, and Transport Minister Nitin Gadkari feels methane is a cost-effective import substitution. But is it? Pallava Bagla examines the pros and cons.
Without directly referring to the farmers' agitation, which entered the 17th day on Saturday, Modi said agriculture reforms as part of government efforts are aimed at removing roadblocks, and the new laws will also bring in technology and investment in the sector.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
This is the project to turn municipal and agri-waste into fuel sources like diesel, jet fuel, naptha and petroleum. It is called IH2.
Moving the Motion of Thanks to the President's address in the upper house, BJP member Bhubaneswar Kalita said the government respects farmers. He said the government has given new rights to farmers through these new farm laws and none of their rights or facilities have been taken away.
India's dependence on imported crude oil to meet domestic demand has been a matter of concern for years. Delivering the inaugural address at the global energy summit - Urja Sangam - in 2015, Prime Minister Narendra Modi had called for enhancing domestic oil and gas production to cut the import burden. He aimed at lowering it by at least 10 per cent by 2022 - to coincide with the platinum jubilee of India's independence. But this target is far from being achieved and the country's import reliance has only risen.
'If an election promise has to be credible, silence on practical questions doesn't help matters,' notes T N Ninan.
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 commitment of cutting emission intensity by 33-35 per cent.
Modi said the country needs to increase domestic output of energy.
'Hum karan poochtey rahe avishvas ka, karan nahi bata payey to gale pad gaye'
The GST will alter the very face of fiscal federalism in India.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
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