Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Govt to give Rs 25,000 cr additional fuel subsidy
The government will pay Rs 25,000 crore additional cash subsidy to state-owned fuel retailers to make up for part of the revenue they lost on selling auto and cooking fuel below cost this fiscal. The Finance Ministry on February 7 issued a "comfort letter" to Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) sanctioning Rs 25,000 crore for part of the revenue they lost on selling diesel,
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Gas price hike could hit fert subsidy plan
The C Rangarajan committee’s proposal to nearly double the domestic price of natural gas, if implemented, could adversely affect the government’s subsidy reduction plan and make the new urea investment
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Solar power focus of future energy shift: Ambani
Reliance Industries chairman Mukesh Ambani, owner of world's largest oil refinery, on Sunday said solar power will be at the core of the shift in future source of energy needs — from hydrocarbons to renewables. "We will transit from hydrocarbon presence which is coal, oil and natural gas over the next many decades into a fully renewable, sustainable future and the solar really will be at the heart of it," Ambani said in an interviewto CNN International.
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Under-recovery on diesel sale to end by mid-2015: Montek
New Delhi: It will take at least another 28 months before the under-recoveries on account of sale of diesel can be eliminated. Addressing the India Energy Congress on Thursday, Planning Commission deputy chairman Montek Singh Ahluwalia said: “Diesel is on a progressive elimination of subsidies and by mid-2015, present under pricing of diesel will be removed.” Partial decontrol of diesel prices were recently announced by the government. This has allowed the oil marketing companies to increase the prices of diesel by up to 50 paise per litre every month in order to recover the under-recoveries of around R10/litre.
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'Coal price pooling to benefit plants of 70,000-Mw capacity'
To be commissioned by 2014-15, around 28,000 MW are under construction Price pooling for coal will lead to better capacity utilization of power plants and the benefit would accrue to total of 70,000 MW to be commissioned by 2014-15 of which around 28,000 MW are under construction. By rationalizing the movement of imported coal and domestic coal, it would save transportation cost. Association of Power Producers (APP) projects a saving of Rs 1,200 crore due to reduction in the generation cost and removal of transportation constraints.
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Earth 100, Gurgaon firm launches eco-friendly bio-diesel cars
Gurgaon: Earth 100, a Gurgaon-based a firm that claims to help companies reduce their carbon footprint by using greener fuel, has launched its first fleet of eco-friendly “100 per cent bio-diesel cars” in Gurgaon. Jindal Power is a major investor in the firm, while Mahindra plays a crucial role as a technology partner. Earth 100 claims to provide fully integrated green solutions, which involves modified cars, green fuel, dispensing solution, servicing and maintenance, performance tracking and quality testing.
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Oil prices higher in Asia
Prices supported by healthy economic indicators in the world's major economies Oil prices rose in Asian trade today, supported by healthy economic indicators in the world's major economies, analysts said. New York's main contract, light sweet crude for delivery in March was up two cents to $96.68 a barrel in morning trade and Brent North Sea crude for March delivery climbed 18 cents to $116.70. A slowdown in contraction of eurozone business activity soothed fears about political uncertainty in Italy and Spain -- which had sent markets plunging in the US and Europe Monday -- while upbeat US services sector data lifted US oil futures.
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Gurgaon firm launches eco-friendly bio-diesel cars
Earth 100, a Gurgaon-based a firm that claims to help companies reduce their carbon footprint by using greener fuel, has launched its first fleet of "100 per cent bio-diesel cars" in Gurgaon. Jindal
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Veerappa Moily asks PM to appoint expert panel to examine fuel pricing
New Delhi: Fearing oil refineries will be hit hard by the Finance Ministry's move to change the way petrol and diesel are priced, Oil Minister M Veerappa Moily has asked Prime Minister Manmohan Singh to constitute an expert committee to decide on the issue. The Finance Ministry has informed the Petroleum Ministry that auto fuel needs to be priced at export parity rather than import parity as the 2.5 per cent customs duty was adding to the under-recoveries of the state-run oil marketing companies without contributing any revenue to the exchequer.
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Diesel prices to rise 40-50 paise a month: Moily
Says the move to continue till losses are wiped out Petroleum Minister M Veerappa Moily on Friday said diesel prices would be raised 40-50 paise a litre every month until under-recoveries on the fuel were completely wiped out. “Until further orders, oil marketing companies can increase it (diesel prices) by 40-50 paise (a litre) every month,” he told reporters here. On January 17, the government had decided to move towards deregulating diesel prices. It had empowered state-owned oil companies to raise prices in small doses every month.