Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
Revenue over relief? Govt has room to cut customers some slack over oil prices, or choose to swell its own pocket
The recent drop in oil prices could allow the Indian government to increase excise duty while offering moderate fuel price cuts to consumers. This strategy may help ease inflationary pressures. A report by BofA Securities suggests potential revenue gains and reduced import costs, benefiting India's economy.
Fair competition: PNGRB to hear CGD entities on case-to-case basis over exclusive rights to sell gas
CGD companies have two types of exclusivities for selling natural gas. One is marketing, allowing exclusive rights to sell gas for 7-8 years. Second is infrastructure, allowing exclusive use of pipelines for 25 years
Tugboat powered by ammonia sails for the first time, showing how to cut emissions from shipping
A New York-based startup, Amogy, has successfully converted a 67-year-old diesel tugboat to run on cleanly-made ammonia, demonstrating a significant step towards zero-emissions maritime propulsion. This innovation aims to address the increasing carbon dioxide emissions from shipping, which account for about 3% of global emissions.
AM Green Technology enters biofuels business
Hyderabad-based AM Green Technology and Solutions has signed a binding agreement to acquire Finland's Chempolis Oy and Fortum 3 B. entities, marking its entry into biofuels. The company plans to invest $1 billion over the next three years to produce sustainable aviation fuel for global airline decarbonisation. AM Green will also acquire Fortum's shares in Assam Bio Refinery in India.
Iran unveils new arsenal as tensions rise
During a military parade, Iran showcased a new ballistic missile and an enhanced one-way attack drone, according to state media. The solid-fuel Jihad missile has a range of 1,000 km, while the upgraded Shahed-136B drone can travel over 4,000 km. Supreme Leader Ayatollah Ali Khamenei urged Islamic nations to sever ties with Israel.
N-power to play greater role in India's energy mix: AEC chairman Ajit Mohanty
India plans to expand its nuclear power capacity over the next two decades to meet energy security and climate goals. The country is building new reactors, including 700-MWe PHWRs and a 500-MWe PFBR. Private players are also being involved in developing small modular reactors and new nuclear technologies.
Changed oil market may help India extract better deals from suppliers
India's fuel consumption is rising while global demand weakens, affecting next year's crude purchase negotiations. The govt plans to pass benefits of a new oilfield law to winners of the ninth exploration licensing round. The volatile market may delay state-run companies from reducing consumer prices.
India, US for giving push to sustainable aviation fuel, hydrogen in buses
India and the US have agreed to boost sustainable aviation fuel, promote electrification of medium and heavy-duty vehicles, and use hydrogen in buses and tractors. The agreement was made during the Strategic Clean Energy Partnership dialogue, highlighting investments in clean energy markets and modernising power distribution for reliable energy access.
Private oil companies' fuel retail share rises on stable domestic pump prices
Reliance Industries and BP's joint venture has significantly increased its petrol and diesel sales in India this year, achieving a market share of 2.75% for petrol and 4.35% for diesel. Nayara also saw growth, while Shell experienced mixed results. Private players' market share in fuel retail has risen amid declining refining margins globally.
Petrol, diesel price cut before Maha elections? Oil Minister official says prices volatile
International oil prices remain volatile, causing uncertainty in petrol and diesel price reductions despite lower input costs. State-owned fuel retailers have not revised rates since late 2021, citing volatility. Petrol and diesel prices are currently frozen, with potential cuts before Maharashtra elections uncertain.
How biogas can reduce India's dependency on fossil fuels and lower energy costs?
India, the world's third-largest energy consumer, is exploring biogas as a sustainable alternative to fossil fuels. Biogas can reduce energy costs, improve waste management, and lower greenhouse gas emissions. Government initiatives aim to boost biogas production, contributing to energy security and environmental sustainability.
Easing inflation to drive private consumption, fuel growth: RBI
Household consumption is expected to grow faster in the second quarter due to easing inflation and a revival of rural demand, according to the RBI bulletin. Retail inflation has slowed, boosting private consumption and investment activity. However, volatility in food prices remains a risk. The RBI projects real GDP growth at 7.2% for the current fiscal year.
India has potential to produce lithium-ion batteries, Kashmir has 6% of global lithium stock: Nitin Gadkari
Union Road Transport and Highways Minister Nitin Gadkari announced that Jammu and Kashmir holds 6% of the world's lithium stock, highlighting India's potential to produce lithium-ion batteries. He emphasised the future of electric vehicles and the need for alternate fuels like ethanol and hydrogen. Gadkari also discussed India's growing automobile industry and its significant export contributions.
Fossil fuels will continue to lead energy mix amid slow EV growth and clean energy challenges: McKinsey
Despite the shift towards cleaner energy, fossil fuels will still account for 40 to 60 per cent of global energy supply by 2050 due to slow EV adoption and challenges in scaling clean technologies. Renewables are expected to grow but require significant infrastructure investments.
Ather’s IPO: Interesting gleanings on EV industry from its DRHP and how PM E-Drive can give a booster dose
Ather predicts that by 2031, electric two-wheelers will be 52% cheaper than petrol bikes even without subsidies, highlighting their long-term cost efficiency despite higher initial costs
Windfall tax on crude oil cut to zero again as brent prices drop below $70
Global crude oil prices recently slipped to below $70 per barrel, the lowest since December 2021