Tag Archives: Financial Express

The United States has partnered with India on climate change so as to help it meet its commitment to deploy 450 gigawatts (GW) of renewable energy, the Biden administration’s climate change envoy has told US lawmakers. “Prime Minister (Narendra) Modi has made a commitment to deploy 450 GW of renewable …

India has all but lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran decided to prefer domestic companies over foreign firms for development of the field, sources said. ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), had …

The Government of India reportedly plans to shut 32 units across 12 power plants in the country as they have failed to meet emissions targets. The Financial Times reported that the units, which have a combined capacity of 5.019GW, failed to submit plans to meet the prescribed emission control norms. …

China is the world’s biggest importer and consumer of oil.

Indian Oil Corporation Limited has signed a contract with Russia’s Rosneft for importing 2 million metric tonnes of Urals grade crude oil in a bilateral meeting.

The 24-member OPEC and non-OPEC alliance decided last year to cut production by 1.2 million barrels per day (bpd) from January 2019.

Indonesia was main supplier for India for thermal coal while Australian exports were going to China. Japan and South Korea.

Oil is heading for its second monthly loss this year as a gloomy economic outlook eclipses concerns crude flows may be disrupted from the Middle East.

The global inventories particularly in the U.S. inventories are high and are still rising.

India’s total crude oil imports for FY19 was marginally down to 209.4 million tonne.