Page 36 - Energy Sector

India's shaky energy security and growing dependency on foreign fuels

New Delhi is yet to announce a comprehensive and detailed policy across the energy spectrum to tackle this very real threat to economic growth

Telecom, energy sectors see sharpest earnings cut after Q1

The Nifty earnings per share (EPS) is estimated to grow 9 per cent year-on-year to Rs 785 in FY23, against an earlier expectation of 13 per cent growth to Rs 820

Energy crisis tearing through global stock markets leaves a trail of losers

The inflation surge has also prompted an aggressive response from the world's major central banks

India has decided to be self-reliant in energy sector in next 25 yrs: PM

Prime Minister Narendra Modi on Sunday said that India has decided to become self-reliant in energy sector in the next 25 years. Addressing a programme held to mark 40 years of Suzuki Motor Corporation in India at the Mahatma Mandir convention centre here, Modi also hailed the relationship between India and Japan. "India wants to be aatmanirbhar (self-reliant) in energy sector in the 'amrit kaal' of next 25 yerars," he said adding that transportation is one key things to achieve it. Modi said that electric two wheelers and four wheelers make no noise and are silent. "The silence of electric vehicles is bringing a new silent revolution in the country," he said. The prime minister said Gujarat-Maharashtra bullet train to Rudraksh Centre in Varanasi and many such developmental projects are examples of India-Japan friendship. Former prime minister of Japan late Shinzo Abe worked to bring the two countries closer and the present PM (Fumio) Kishida is working further for it, Modi added.

Need to diversify agriculture towards power, energy sectors: Gadkari

With India being energy deficient, there is a need for the country to diversify agriculture into energy and power sectors, Union Minister for Road Transport and Highways Nitin Gadkari said on Saturday. "We already have energy shortage. We are making an expenditure of Rs 15 lakh crore every year for importing petrol, diesel and other petroleum products. So, this is the time we can diversify agriculture towards the energy and power sector," Gadkari said while addressing the felicitation programme of National Cogeneration Awards 2022 in Mumbai. He urged the industry to focus on alternative fuels with the help of futuristic technologies. "While 65-70 per cent of our population depends on agriculture, our agricultural growth rate is only 12-13 per cent. And the next move should be cogeneration to increase revenue from sugar. The industry should produce less sugar and more byproducts, embracing the vision for futuristic technologies and using the power of leadership to convert knowledge .

Fuel crisis prompts Bangladesh to cut govt office hours to save energy

Bangladeshi government offices will cut back office hours in a bid to save energy, as the country struggles with a fuel crisis, an official said

German chancellor Olaf Scholz in Canada to diversify energy supply

German leader Olaf Scholz said Monday he's working as fast as he can to reduce Germany's dependence on Russia for energy, but Canadian Prime Minister Justin Trudeau said a business case would be needed to send gas from Canada to Europe. Scholz, who took over from Angela Merkel late last year, is in Canada this week and will sign a deal with Trudeau to supply clean hydrogen to Germany. Canada plays a really, really central role for the development of green hydrogen, Scholz said. That's why we are very glad to be able to expand our cooperation in this area on this occasion too. He said Germany would like to be a partner of Canada in the future export of green hydrogen, but in the meantime natural gas will be needed. Trudeau, however, played down the likelihood of direct gas exports to Germany due to logistical constraints and costs. Trudeau said it would need to make business sense. There are a number of potential projects that are in the books for which there has never been a strong

India's self-reliance ambition in energy sector faces rising import hurdle

During the financial year 2021-22, India's petroleum imports was around 23.8 per cent of its gross imports and the country was dependent on imports for 86 per cent of its crude oil requirement

JSW Energy unit to buy Mytrah Energy's renewable assets for Rs 10,530 cr

This is the third-biggest acquisition in the renewable energy space in India

Should set up small modular reactors to meet energy demands: NITI member

Niti Aayog member VK Saraswat suggested that the government should focus on setting up small modular reactors as it would help meet country's energy needs and in replacing aging thermal power plants

India among leaders in annual renewable energy investment: UN report

The report mentions WFP estimates of an increase of 47 million acutely hungry people in 2022 across 82 countries due to the lingering effects of Covid-19 and the continuing Russian-Ukraine war

PM Modi asks states to clear payments to electricity distributors

Prime Minister Narendra Modi on Saturday urged state governments to clear their bills and dues to power distribution firms to help ensure stability in the energy sector

EU embargo on Russian gas 'impossible', says Austrian Chancellor Nehammer

Austrian Chancellor Karl Nehammer has said that an embargo on Russian gas in the European Union (EU) is "impossible" due to EU countries' heavy dependence on Russian energy

IL&FS sells 2 firms in energy business for Rs 77.5 cr to reduce debt

IEDCL sold 27.75 per cent of its stake in Urjankur Nidhi Trust, where Maharashtra Energy Development Agency has a 50 per cent stake and Shree Datta Shetkari Sakhar Karkhana Ltd holds 22.25 per cent.

Greece, Saudi Arabia to explore further cooperation in several sectors

Greece and Saudi Arabia will explore further bilateral cooperation in many sectors with emphasis on energy, as announced by the two sides during 2-day visit of Saudi Arabia's Crown Prince to Athens

European Union reaches deal to ration gas amid Russian cut-off fears

Approves draft law to cut gas demand by 15% from August through March

Green shift: Costs and opportunities

The tectonic changes underway in the energy ecosystem present the chance of a lifetime for investors

Centre set to abolish reverse auction bidding in wind energy sector

"The lowest tariff, or L1, would be averaged for these states. The power from these projects will be bundled and sold by SECI," said a source

Coal Secretary stresses on need to increase production of dry-fuel

Jain said NCL is eager to promote sustainable coal mining which is getting reflected in the recent initiatives by the coal miniratna, the coal ministry said in a statement.

This winter, Europe could face energy rationing, warns Shell CEO

European consumers could face the prospect of energy rationing this winter as costs continue to soar amid the risk of Russia cutting off gas supplies, Shells chief exec has said, the media reported.