India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
Reliance Industries is likely to sign a gas sale contract with Indraprastha Gas Ltd on Thursday that would use the supplies from RIL's eastern offshore gas fields for vending CNG to automobiles and piped gas to kitchens in the national capital.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
The quantities and price of $4.2 per mmBtu for gas under the GSPAs signed for five years are as approved by the government.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism.
Indian private sector and State-run refiners continued to receive crude oil from Russian suppliers even after November 21 -- the winding-down date for US sanctions on supplies from leading Russian oil producers imposed in October -- as new intermediaries sprung up in West Asia to sell the oil, according to senior refining sources and ship tracking data.
Holding the Centre responsible for putting Gujarat in a tricky situation, state Petrochemicals Minister Saurabh Patel on Monday informed the Assembly that with the scrapping of gas purchase agreements, Gujarat would not be able to get gas from April this year.
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India has called for a ceasefire, release of all hostages, and peaceful resolution of the Israel-Hamas conflict through dialogue and diplomacy. The Centre informed Parliament that India welcomed the agreement on the first phase of the Gaza Peace Plan. The article also covers India's energy sourcing strategy and the release of Indian fishermen by Pakistan.
India's decision to import LPG from the US helps it to diversify sources as it reduces almost full reliance on West Asian countries for supply of the country's primary cooking fuel.
But RIL is yet to agree on the grounds that it is studying the implication of the judgement. On June 15, the Bombay high court gave the two companies a month's time to work out a firm gas volumes, price, timelines and other commercial details for sourcing the fuel from Krishna Godavari basin fields.
India and Russia are expected to unveil a major nuclear energy partnership during Vladimir Putin's visit, potentially involving Russian small modular reactors and expanded cooperation as India pushes toward its 100-GW nuclear goal by 2047.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
India faces a new energy crisis - unavailability of gas in the international market - that could worsen power supplies and impact a wide range of industries.
Russia, being bogged down by the Ukraine war and prioritising the requirements of its own armed forces, along with India's consistent diversification policy, will remain a major challenge to the bilateral partnership, note Harsh V Pant and Aleksei Zakharov.
After a three-month slowdown, India's oil imports (already landed) from Russia bounced back in the first 15 days of October to 1.8 million barrels per day.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
Vedanta, a conglomerate in mining and metals, has seen a surge in its share price on the back of multiple triggers. Its demerger appears to be on track, a strong non-ferrous commodity cycle is boosting margins, and silver bulls are interested in Hindustan Zinc, its subsidiary.
Mundane as it may seem, this is in some ways a metaphor for the challenges facing the nation, argue Arvind Subramanian and Devesh Kapur in their new book, A Sixth Of Humanity.
Saudi Arabia's steep cut in LPG benchmark prices has pushed India's household LPG underrecoveries to their lowest level in over two years, slashing oil companies' losses from Rs 200-250 per cylinder last year to about Rs 20-40 now.
Sri Lanka is facing a severe crisis after Cyclone Ditwah caused widespread flooding and landslides, resulting in numerous deaths and displacement. India has launched 'Operation Sagar Bandhu' to provide relief. The situation is expected to remain critical with rising river levels and continued rainfall.
A fire broke out in huts near the Harbour line tracks in Mumbai's Dharavi area, leading to temporary suspension of train services. No injuries were reported.
RIL has sent a draft GSPA to Essar Oil and the contract may be inked within the next few days.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
Natural Gas production from KG-D6 block has dropped to 25.35 million standard cubic meters a day this month, from over 63 mmscmd peak output achieved in August 2010.
'The reported deal between the European Union and China should mitigate it (shortage) for the medium to long term. Let's wait and watch how this plays out.'
India and Russia have solidified a five-year plan to enhance their economic and trade partnership, while also addressing the ongoing conflict in Ukraine and the threat of terrorism.
Brent crude oil prices can touch $150 a barrel (bbl) - up a whopping 103 per cent from the current levels - in the worst-case scenario if the Israel-Iran geopolitical tensions escalate, suggest analysts.
Blue Energy Motors, a Mumbai-based outfit, is set to disrupt the market for two million heavy-duty trucks running on diesel and petrol in the case of routes under 500 km by transforming them into electric.
Citing the May, 2010, Supreme Court ruling that upheld the government's right to frame gas utilisation policy, the ministry last week wrote to Reliance directing it to first supply natural gas from its KG-D6 fields to priority sectors like fertiliser and power, official sources said.
Pakistan's demand for gas stands at 8 billion cubic feet while the current production is 4 billion cubic feet.
The district administration said that air pollution is still within the acceptable limit and the local office of Pollution Control Board, Assam is closely monitoring the situation.
'In the long run, India's strong growth story and reforms to make assets globally attractive will determine the rupee's resilience.'
The government is giving top priority to making available 581 MMSCMD of gas required by power projects in the country, Rajya Sabha was informed on Tuesday.
The government has slashed by up to 20 per cent the supplies of cheaper domestically produced natural gas to city retailers -- a move that may result in Rs 4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut, sources said. Natural gas pumped from below the ground and from under the seabed from sites ranging from the Arabian Sea to Bay of Bengal within India is the raw material that is turned into CNG for sale to automobiles and piped cooking gas to households.
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