Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
India cut GDP emission intensity by 36 pc during 2005-2020: Govt report
India's greenhouse gas emissions dropped by 7.93% in 2020 compared to 2019, and the emission intensity of its GDP declined by 36% between 2005 and 2020. India aims to further reduce GDP emission intensity by 45% by 2030 and achieve 50% electric power from non-fossil fuels.
Oil rises on expanding Chinese factory activity, but set to end year lower
Oil prices increased due to China's expanded manufacturing activity in December. Brent crude futures increased to $74.46 a barrel and U.S. West Texas Intermediate crude to $71.48 a barrel. Brent declined 3.2%, and WTI was down 0.6% for the year. Declining U.S. crude stockpiles provided short-term support.
IOCL to provide fueling services at Noida International Airport
Indian Oil Corporation (IOCL) will provide fuel services at Noida International Airport (NIA) in Jewar, Uttar Pradesh, under a 30-year concession agreement. IOCL will operate three fuel stations at different strategic locations within the airport, ensuring seamless and efficient fueling services as the airport prepares for its inauguration early next fiscal.
Budget 2025: Cut IT rates, hand out vouchers to drive consumption, urges CII
The Confederation of Indian Industry (CII) recommends personal income tax cuts and excise duty reduction on fuel to enhance disposable incomes and stimulate spending. They also propose increasing daily wages under MGNREGA and payouts under PM-Kisan. Engineering Exports Promotion Council (EEPC) suggests a faceless GST audit system to aid MSMEs in reducing compliance costs and focusing on growth.
India initiates anti-dumping probe into LNG fuel tanks imports from China
India is investigating allegations of dumping LNG fuel tanks from China after a domestic company complained. The investigation could lead to anti-dumping duties if it finds that cheap imports are hurting local manufacturers. These tanks are important for large vehicles and the case is being examined by the Directorate General of Trade Remedies.
Budget 2025-26: CII calls for cut in excise duty on fuel, consumption vouchers to stir demand
Union Budget: CII recommends lowering excise duty on fuel to boost consumption, reduce inflation, and increase disposable income in its pre-budget suggestions for 2025-26. The proposal includes reducing marginal tax rates for incomes up to Rs 20 lakh and increasing benefits under key government schemes to enhance rural recovery.
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.