India has ended the financial year 2023-2024 as a net importer of finished steel, which has sent the alarm bells ringing in industry circles throughout India. Mainly, insiders want to know how the changing import status might affect steel costs and India’s push for self reliance. According to news agency …
Read More »India Emerges as a Major Exporter of Solar Panels
Rystad Energy’s latest data reveals renewable energy installations in India surged to a record 7.1 gigawatts (GW) in March, more than doubling the previous record of 3.5 GW set in March 2022. The increase in installations helped India reach its highest-ever annual installed capacity of 18.5 GW for the fiscal …
Read More »Indian Steelmaker Plans to Build Europe’s most Advanced Rail Mill
One of India’s fastest-growing steel companies JSW Steel, recently announced the next step in its growth plan. In a major steel news event, JSW Steel Italy SRL inked a memorandum of understanding (MoU) with the Italian government to re-start production operations at the Piombino plant via a €140 million investment. …
Read More »India Expects $5 Billion Investment in Natural Gas Pipelines in North
India expects companies to invest nearly $5 billion in a network of natural gas pipelines in its northern and northeastern states and federal territories, including Kashmir, India’s Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on Monday. Companies are expected to invest $4.95 billion (410 billion Indian rupees) …
Read More »India Raises its Long-Term Power Demand Forecast
India has raised by 5% its previous projection for peak electricity demand in the financial year 2031-2032, due to surging demand last year that outpaced the government’s forecasts, sources with knowledge of the latest forecast told Bloomberg on Monday. In the FY 2031-2032, between April 2031 and March 2032, India …
Read More »Turkmenistan and India Talk over TAPI Project Chores
Turkmenistan and India discussed the implementation of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, Trend reports. These issues were discussed between President of Turkmenistan Serdar Berdimuhamedov and newly appointed Ambassador Extraordinary and Plenipotentiary of India to Turkmenistan Madhumita Hazarika Bhagat. During the meeting, the parties noted the importance for all participating …
Read More »Equinor Signs 15-Year LNG Supply Deal with Indian Firm
Equinor has signed a 15-year agreement to supply LNG to India’s Deepak Fertilisers, which will use the gas mainly as a feedstock for ammonia production at a new plant, the Norwegian energy major said on Monday. Equinor is growing its LNG portfolio and will use the super-chilled fuel from its …
Read More »India’s Natural Gas Consumption Set to Triple by 2050
India’s industry expansion and rising oil refining to meet higher fuel demand are set to drive a tripling of the country’s natural gas consumption by 2050, the U.S. Energy Information Administration (EIA) said on Wednesday. In 2022, India’s natural gas consumption amounted to 7.0 billion cubic feet per day (Bcf/d), …
Read More »India Calls for $1 Trillion Annual Climate Funding from Developed Economies
Developed economies need to provide at least $1 trillion per year to climate finance for developing countries to meet the national and global climate targets, one of the biggest developing economies and a major carbon polluter, India, said in a proposal to the United Nations. Developed countries have pledged to …
Read More »India Looking for Multi-Year Oil Purchase Deal with Guyana
India is looking to sign a multi-year oil purchase deal with Guyana, the Guyanese minister for natural resources, Vickram Bharrat, said on Thursday, as the subcontinent moves to diversify its supply of crude imports. Referencing the possibility of a long-term oil deal with India, Bharrat told reporters on the sidelines …
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