Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
Iraq agrees to supply Lebanon with fuel for six months
Iraq will continue supplying Lebanon with fuel for another six months, according to a statement from Iraqi Prime Minister Mohammed Shia al-Sudani. This deal, initially made in July 2021, aims to mitigate Lebanon's severe power shortage. Lebanon exchanges the heavy fuel oil received from Iraq for gas oil, which powers its underperforming power stations.
India to become world's biggest electric vehicle manufacturer in the next 5 years: Nitin Gadkari
India is on track to lead the world in electric vehicle manufacturing by 2030. Union Minister Nitin Gadkari announced initiatives to boost alternative fuel vehicles. The Indian automobile industry has grown significantly. Falling lithium-ion battery costs and new innovations are driving demand. Infrastructure development, such as dedicated cycle tracks, will support this growth.
India can be great producer of SAF; the fuel can help reduce pollution: Airbus official
India has great potential to produce Sustainable Aviation Fuel (SAF) using available biomass waste and feedstocks like rice and wheat straws. Airbus is working with the Indian Institute of Petroleum to develop new SAF production methods. Policies and government support are vital for scaling production and making SAF more cost-competitive.
India on track to achieve 500 GW renewable energy target: Pralhad Joshi
India is on track to achieve its 500 GW renewable energy target by 2030, with Rs 32 lakh crore investment commitments. Union Minister Pralhad Joshi highlighted the progress, including 223 GW of non-fossil-fuel capacity. Renewable energy project bids cover 169 GW, and the government is supporting offshore wind projects with viability gap funding.
India needs to scale up non-fossil fuel capacity to 600 GW by 2030
In October-November period, when the unmet demand will likely be high, and in the high-demand months of March to June, almost all the available coal capacity will be despatched, leaving little margin to manage uncertainties, the report said.
India's wholesale inflation likely fell to 2 pc in February from 2.3 pc in January: Report
India's WPI inflation is expected to drop to 2% in February 2025, down from 2.3% in January. The decline is driven by falling oil prices and a seasonal decrease in food prices, particularly vegetables. The fuel index is also expected to remain negative due to reduced oil demand.
American Airlines flight catches fire at Denver Airport gate, 12 passengers taken to hospital
An American Airlines Flight 4012 caught fire at Denver International Airport, triggering the evacuation of passengers. No injuries were reported, and emergency crews quickly extinguished the fire. Video footage showed passengers exiting the aircraft and standing on its wing as flames engulfed the plane. While the cause remains unclear, this incident raises further concerns about aviation safety.
Ashwini Vaishnaw rebuts Kerala Congress allegations over power generation
Union Minister Ashwini Vaishnaw refuted allegations by Kerala Congress, clarifying that India's 45% power generation capacity from non-fossil fuels differs from the energy generated figure. This distinction arose after an accusation of inaccuracy regarding the energy mix. Vaishnaw emphasized the difference and showcased current statistics, aiming for clarity on India's renewable energy progress.
US tanker and cargo ship collide off UK coast, sparking fires and environmental disaster fears
A US-linked tanker, Stena Immaculate, collided with the Solong container ship in the North Sea, causing fires and leaving one crew member missing. Authorities are investigating the matter while emergency teams work to contain potential oil spills. Experts warn of severe environmental risks if the jet fuel leak is not swiftly controlled.
India must charge up non-fossil fuel energy capacity to 600 GW by 2030 to avoid dimming lights: Report
India must increase its non-fossil fuel energy capacity to 600 GW by 2030 to meet rising electricity demand. Achieving this will prevent unmet demand and reduce reliance on coal. This pathway will also reduce costs, create jobs, and lower carbon emissions. The report highlights the need for renewable energy to meet India’s demand sustainably.
Ex Kearney India head Vikas Kaushal appointed as HPCL CMD
He has also served as the Managing Director & Country Head for Kearney India for five years
Marginal impact on fuel efficiency of 4-wheelers due to E20
During the last ten years till ethanol supply year (ESY) 2023-24 (November-October), ethanol blending in petrol by PSU OMCs resulted in savings of more than ₹1.13 lakh crore of foreign exchange
Castrol India surges 10%, hits 5-month high on strong volumes
Stock jumps 50% from January lows; Motilal Oswal maintains ‘Buy’ with Rs 260 target.
Nayara Energy to make buyback offer to minority shareholders
Nayara Energy announced a buyback offer for its minority shareholders to purchase over 2.59 crore shares at Rs 731 each, providing an exit opportunity for shareholders unable to trade since delisting in 2016. This follows frequent shareholder requests for liquidity.
Tata Motors begins trials of hydrogen-powered heavy duty trucks for long haul transportation
Tata Motors has begun trials for hydrogen-powered heavy-duty trucks to test their effectiveness for long-distance transportation. The 24-month trial includes 16 trucks equipped with Hydrogen Internal Combustion Engines and Fuel Cell technologies on major Indian freight routes. This initiative is part of the National Green Hydrogen Mission, aimed at reducing emissions and enhancing energy self-reliance.
India's renewable energy sector hit by weak demand, cancellations, report says
India's renewable energy sector grapples with low demand for tenders, delays in power agreements, and project cancellations, jeopardizing its 2030 target of 500 GW non-fossil power capacity. With unsigned agreements totaling over 40 GW and 38.3 GW of projects canceled from 2020 to 2024, investor confidence and low-cost financing are at risk, according to IEEFA.