Recent fuel, transport and policy updates, in a clear and scan-friendly format.
LPG sales were also up 7.3 per cent year-on-year at 2.76 million tonnes in November as more households have switched to cooking gas under various schemes for the welfare of the poor introduced by the government.
Ambuja Cement Share Price: Adani Group's Ambuja Cements shares increased nearly 1% following a partnership with Coolbrook. The collaboration will utilize Coolbrook’s RotoDynamic Heater technology to reduce fossil fuel dependence and carbon emissions in cement manufacturing.
The government has implemented an advanced monitoring system for retail fuel outlets nationwide, leveraging technologies like OTP-based calibration and digital payment systems. This initiative, developed under the Legal Metrology Act, aims to enhance regulatory oversight, protect consumer interests, and ensure a fair marketplace by conducting real-time data analytics and precision in fuel dispensing.
Greenzo Energy India (GEIL) has entered a 20-year partnership with France's EODev to introduce hydrogen fuel cell power generators in India, utilizing Toyota's hydrogen fuel cell technology. This initiative aims to replace fossil-fuel-based generators in facilities like telecom towers and data centers, significantly reducing emissions and investing around ₹200 crore initially.
India has scrapped the windfall profit tax on domestically-produced crude oil and exported jet fuel, diesel, and petrol, due to declining international oil prices. The tax, in place since July 2022, collected ₹44,000 crore. The move follows a recommendation from the petroleum and natural gas ministry, stating that the levy had served its purpose.
Union minister Nitin Gadkari dislikes visiting Delhi because of the high pollution levels, which often cause him infections. He suggests reducing fossil fuel consumption to tackle pollution. Delhi's air quality slightly improved with an AQI of 274, marking the third day of relief. Gadkari also pointed out the need to address poverty, hunger, and unemployment in India.
Indian Railways will keep 2,500 diesel engines for emergencies and strategic use while aiming for full track electrification. The plan includes 1,000 Wabtec engines and 1,500 high horsepower locomotives. Nearly 97% of the railway network is already electrified. Additional production and exports are expected. A budget of ₹14,155.90 crore was allocated to run diesel trains in 2023-24.
The Indian aviation sector is witnessing a paradox with record passenger growth and continuing financial issues. Despite an increase in passenger traffic, airlines are struggling due to high operating costs, suppressed ticket prices, and supply chain challenges, resulting in expected net losses of Rs. 20-30 billion in FY2025 and FY2026.
The Biden administration will not finalize guidelines on clean fuel tax credits for airlines and biofuel industries before January, casting doubt on sustainable aviation fuel production goals. Legislative backers seek to extend existing tax credits amid political disputes and unfinished policy details, affecting climate targets.
Shares of Rajputana Biodiesel debuted at a 90% premium, listing on the NSE SME platform at Rs 247. The Rs 25 crore IPO saw immense interest with over 700 times subscription. Proceeds will be used for various corporate needs. Rajputana manufactures bio-fuels, intending to explore export opportunities and align with India's blending targets.
The government has abolished the windfall tax on aviation turbine fuel, crude products, petrol, and diesel after extensive deliberations. This decision is a relief for oil giants like Reliance and ONGC. The levy, introduced in July 2022 due to rising global crude prices, had aimed to capture revenue from producers' windfall gains. This move shall benefit the refining margins significantly.
This is the second straight monthly increase in jet fuel prices; Rates were increased by ₹2,941.5 per kl (3.3 per cent) on November 1
India's petrol and diesel consumption soared in November as the festive season reversed a fall in demand witnessed in previous months, preliminary data of state-owned firms showed on Friday.
Diesel sales grew 8.4% year-on-year in November, ending a period of stagnation this fiscal. Petrol sales rose 9.2%, jet fuel increased by 7.7%, and LPG saw a 7.3% growth. The rise in diesel sales was supported by the sowing season, elections, and new vehicle sales.
Minister Nitin Gadkari emphasizes the importance of switching to biofuels and electric vehicles for sustainable development. India's transport sector heavily contributes to air pollution, and significant fossil fuels are imported annually. Initiatives like bio-CNG projects and municipal waste-to-bio-CNG projects are promoting a green economy, creating jobs, boosting exports, and making India self-reliant.
October imports had fallen to 4.34 Mb/d, the lowest in over a year.
