Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
Climate change led to 41 additional days of extreme heat in 2024: Report
Climate change led to an average of 41 more days of extreme heat in 2024, making it the warmest year on record. The year witnessed 219 extreme weather events, 3,700 deaths, and millions displaced. To avoid further devastation, transitioning away from fossil fuels is crucial, as current policies may increase global warming to 3 degrees Celsius by 2100.
Black Sea oil spill: Russia declares emergency; here's what happened
The Black Sea oil spill has become a major environmental disaster, forcing Russia to declare a federal emergency.
NTPC REL begins commercial supply of 37.50 MW from Sadla solar project
NTPC's subsidiary, NTPC Renewable Energy Ltd, started commercial operations for the first 37.50 MW of its 200 MW Gujarat Solar PV Project on December 21, 2024. This increases NTPC group's total installed and commercial capacity to 76,598.18 MW. NTPC aims to reach 60 GW of renewable energy capacity by 2032.
Reliance's Jamnagar 'super' refinery completes 25 yrs of operations
Reliance built the world's largest grassroots refinery in Jamnagar, Gujarat, in just 33 months. This transformed India from a fuel deficit to a self-sufficient nation. The complex was expanded over time, turning Jamnagar into a global refining hub. The success of this project made Jamnagar a top refining site and an environmental success story.
Russia says oil spill 'critical' as Crimea declares emergency
On Saturday, Russia warned of severe environmental damage from a significant oil spill in the Black Sea after two tankers collided in a storm near Crimea on December 15. With one tanker sank, authorities have declared a state of emergency and acknowledged ongoing pollution threats despite efforts for clean-up operations.
Imminent EU climate rule for ships is set to add to fuel bills
Compliance options include using biofuel or pooling with other vessels to share pollution savings. Non-compliance results in a penalty, impacting ships sailing between EU ports.
India's increasing oil demand attracting global players: S&P Global Commodity Insights
India's oil demand growth has outpaced China's in 2024 and is expected to continue growing faster in 2025. This increase is leading Indian refiners to expand capacity and diversify crude imports. India is focusing on broadening its exploration policy and attracting private and foreign investments to reduce its heavy dependency on imported oil.
India has potential to be key sustainable aviation fuel producer, says IATA official
India could become a major sustainable aviation fuel producer. The country has ample ethanol and other resources. This will help lower emissions from air travel. The International Air Transport Association sees India as a potential SAF hub. India's SAF could even supply the global market. The aviation industry needs more sustainable fuel production.
Private companies' ATF sales up 63% so far this FY
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.
Ukrainian drones hit a Russian fuel depot for the second time this month
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 has potential to be key sustainable aviation fuel producer, says IATA official
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.
GST notices sent to over a dozen CNG kit providers
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.
US scientists may have found a source of energy that could last thousands of years
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.
States say no to GST on jet fuel
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.
GST Council meet: Ordering from Swiggy, Zomato may get cheaper; health insurance exemption on cards
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.
IndiGo, SpiceJet shares in focus as gov to consider inclusion of ATF under GST regime
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.