Recent fuel, transport and policy updates, in a clear and scan-friendly format.
Effective October 1, Coal India Ltd (CIL) will implement uniform interest rates on receivables past due, aiming for ease of business. Previously, interest rates varied even for the same buyer under different fuel supply agreements. The change addresses consumers' concerns about inconsistent interest rates.
Some demand growth for this product to come from the petrochemical industry, commercial and agriculture sectors
The Reserve Bank of India reports that fossil fuels' dominance in India's electricity generation will end by the decade's close. Renewable energy is expected to surpass 50% globally. The RBI emphasizes the need for tripling renewable investments to meet net-zero targets and highlights the importance of addressing sectors like steelmaking and aviation.
AI's potential to aid in greening the world while consuming significant energy is not paradoxical. It can enhance energy efficiency and expedite the transition to renewable sources. Overcoming challenges like energy demand, computing capacity, and skilled personnel is crucial for AI's widespread application and commercial viability.
The article discusses the persistent issues in urban planning across Indian cities, focusing on Kolkata's decision to phase out its tram services. It highlights the government's failure to prioritize sustainable public transport and criticizes the ongoing preference for private vehicles, which exacerbates pollution and chaos in urban areas.
Indian oil marketing companies are experiencing significant profits due to falling crude oil prices, but consumers have yet to see a substantial reduction in petrol and diesel prices. Despite the financial success of companies like IOC, BPCL, and HPCL, fuel prices remain high, impacting household expenses and inflation.
Recent declines in crude oil prices have improved margins for state-owned fuel companies, allowing potential cuts in petrol and diesel prices by Rs 2-3 per litre. The price of imported crude oil averaged $74 per barrel in September, down from $83-84 in March. This could lead to reduced retail fuel prices if crude prices remain stable.
India's clean oil-product exports surged to their highest since March 2022, driven by increased demand from Europe and Africa due to refinery shutdowns. In September, shipments of diesel, gasoline, and jet fuel reached 1.5 million barrels a day, marking a 39% year-on-year increase. European refinery maintenance and poor margins contributed to this spike.
Oil prices remained stable on Thursday after a previous decline, as increased fuel demand and reduced stockpiles in the U.S. balanced concerns over global demand, especially in China. Brent crude rose to $73.55 per barrel, while U.S. West Texas Intermediate reached $69.73 per barrel, following China's stimulus measures and easing supply disruptions in Libya.
Founded in 2019, Nawgati is a one-stop fuel aggregator platform that addresses the pain points of compliance and congestion monitoring for the fuelling industry.
Global leaders face a fractured world at the U.N. General Assembly, grappling with climate change and geopolitical tensions.
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.
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
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.
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.
