India’s oil marketing companies are set to increase the country’s crude oil refining capacity by 35-40 million tonnes by fiscal 2030, reaching a total of 295 million tonnes. This expansion,
BP is looking to expand its business in India, recognizing the vast opportunities in the country’s energy market. The BP board recently visited India to explore these prospects and met
Continue readingBP looks to boost India presence after board meet
State-owned REC Ltd has raised USD 500 million through green dollar bonds to support renewable energy projects. The 5-year bonds have a coupon rate of 4.75% per annum and will
Union Minister Hardeep Singh Puri advocates for bringing petrol and diesel under GST to enhance India’s energy security. He emphasizes the need for strategic petroleum reserves and increased exploration. Achieving
Continue readingHardeep Singh Puri calls to build consensus over bringing petrol, diesel under GST
Adani Electricity Mumbai has signed a business transfer agreement with its subsidiary North Maharashtra Power Limited to carve out the Adani Dahanu Thermal Power Station. This move, aimed at meeting
Continue readingAdani Electricity carves out Dahanu Thermal Power Station
India will not purchase liquefied natural gas from Russia’s Arctic LNG 2 project, which is under Western sanctions due to the conflict in Ukraine. Oil Secretary Pankaj Jain confirmed that
The Uttar Pradesh Power Corp has filed a writ petition to consolidate insolvency proceedings of KSK Mahanadi and its subsidiaries, potentially delaying Adani Power’s ₹27,000-crore bid. The Telangana High Court
Continue readingUPPCL's plea may delay KSK Mahanadi resolution process
The Finance Ministry’s August review highlights that recent drops in crude oil prices are beneficial for India, despite concerns about potential global stock market corrections. Rating agency Icra notes improved
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
Continue readingHeadroom to cut petrol, diesel prices by Rs 2-3 per litre: Icra
Rosa Power, a subsidiary of Reliance Power, has prepaid ₹850 crore of its debt to Varde Partners. The company aims to settle its remaining debt by the end of the
Continue readingRosa prepays Rs 850 crore debt to Singapore company