Oil & Energy
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Renewable Energy India Expo 2023 to bring investments worth Rs 1,500 crore in biogas segment: IBA
"Renewable Energy India Expo 2023 (REI) will bring an opportunity worth Rs 1,500 crore. The participation is expected to increase by 25 per cent from last year," an IBA statement said.
RBI MPC, crude oil among top 10 factors to impact D-Street mood this week
The week ahead will be important for the markets as the Reserve Bank of India (RBI) will announce its monetary policy decisions, and investors will closely monitor global events such as the US manufacturing PMI data, UK manufacturing data, and China's manufacturing PMI data. The movement of the Indian rupee against the US dollar and crude oil prices will also impact market performance.
Indus Towers inks pact with IOC Phinergy for clean energy systems based on aluminium-air tech
Indus Towers' CEO Prachur Sah said as part of the company's ESG vision, Indus Towers believes in nurturing environmental stewardship, being socially responsible and having robust governance. "Indus Tower's agreement with IOP is a testimony of the company's commitment to build eco-friendly telecom tower sites by investing in solutions for resource optimisation," Sah added.
Biden calls for up to three oil and gas lease sales in the Gulf of Mexico, disappointing all sides
The Biden administration has proposed up to three oil and gas lease sales in the Gulf of Mexico, while excluding Alaska, as it tries to balance the demands of energy companies and environmental activists. The proposed five-year plan includes sales in the Gulf of Mexico in 2025, 2027, and 2029.
Centre hikes windfall tax on crude oil to Rs 12,000 per tonne
The Indian government has increased the windfall tax on domestically produced crude oil to Rs 12,000 per tonne, up from Rs 10,000. In addition, the government has reduced the windfall tax on the export of diesel and Aviation Turbine Fuel (ATF).
Inflation drops to a two-year low in Europe. It offers hope, but higher oil prices loom
Economic growth has stagnated to just above zero in the first six months of the year, with some indicators pointing to a downturn in the current July-to-September quarter. This burst of inflation was set off as the global economy rebounded from the COVID-19 pandemic, leading to shortages of parts and raw materials. It got worse when Russian invaded Ukraine, sending energy prices soaring as Moscow cut off most natural gas to Europe.
Pakistan seeks discounts in oil imports from Russia; urges to cap rate at USD 60 per barrel: Report
"Pakistan wanted Russia to set a benchmark of USD 60 dollars per barrel 'free on board' (FOB) - the actual price charged at the port - to import crude oil on a long-term basis. This means that Russia will also be bearing the freight cost for oil to be exported to Pakistan," the report said. In June this year, Pakistan Prime Minister Shehbaz Sharif announced that the first shipment of discounted Russian crude oil had arrived in the port city of Karachi, a development that brought relief to the people hit by skyrocketing inflation.
MEIL secures Rs 5,400 cr crude oil refinery project in Mongolia
Megha Engineering and Infrastructures Ltd (MEIL) has secured a $648 million work order in Mongolia from Mongol Refinery State Owned LLC. The order is for the construction of a crude oil refinery plant, which will produce 1.5 million tonnes of crude oil annually to meet Mongolia's domestic demand for gasoline, diesel, aviation fuel, and LPG.
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