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NAGPUR: After the Shiv Sena strongly opposed the proposed oil refinery at Nanar in Konkan, there’s a demand from some quarters to shift it to Vidarbha. It’s an ambitious project between the IOC, HPCL and BPCL and Saudi Arabian petroleum giant Aramco and Abu Dhabi National Oil Company. An oil refinery or petroleum refinery is an industrial/chemical processing plant where crude oil is converted into petrol, gasoline, diesel fuel, heating oil, kerosene, liquefied petroleum gas (LPG) and jet fuel.
TOKYO: Oil prices fell on Monday amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude.Brent crude was down 43 cents, or 0.6%, at $66.34 a barrel by 0139 GMT, after rising 6% last week. U.S. oil was down 42 cents, or 0.7%, at $62.71 a barrel, having gained 6.4% last week.
Mr. Kerry expressed the view in a discussion with Kristalina Georgieva, the head of the International Monetary Fund as part of the 2021 Spring meetings of the IMF and World Bank. They agreed that a “green and resilient recovery” from the COVID-19 pandemic is possible but economic growth globally is likely to be slow and uneven.
The Environment Minister says the country contributions towards global emissions are as low as 7%. Union Environment Minister Prakash Javadekar on Sunday said India is increasingly leveraging renewable energy to fuel its growing power consumption as it scales programmes like Aatmanirbhar Bharat. India has only 3% contribution in the historical emissions and that the U.S., Europe and other regions have contributed more to harmful emissions over the last 150 years.
French renewable power producer Qair on Monday announced the commissioning of a ground-based photovoltaic (PV) plant in Morocco that will be supplying Swiss food and drinks giant Nestle SA (VTX:NESN). Located at the site of Nestle Morocco’s factory in El Jadida, the solar park is equipped with 2,600 PV panels that cover a total area of over 7,000 sq m (75,300 sq ft).
April 16 (Renewables Now) - The International Finance Corporation (IFC) on Wednesday signed a memorandum of understanding with Azerbaijan's Ministry of Energy to help the country develop offshore wind. IFC plans to work with the ministry to create a roadmap for the development of the offshore wind energy sector in Azerbaijan. Further on, it expects to continue partnering with the ministry on implementing the roadmap.
In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller said it had completely offset that impact by purchasing carbon credits under a U.N.-sponsored program called CORSIA.
Paris: Gas power plants overtook lignite coal plants in 2020 to become the European Union's largest single source of emissions from electricity, an analysis of the bloc's Emissions Trading Scheme showed Friday.Gas plants produced 231 million tonnes of carbon dioxide across the continent in 2020 according to the analysis conducted by energy think tank Ember.
Following a traditional Hawaiian blessing, Clearway Energy Group broke ground on two utility-scale solar projects in Mililani and Waiawa, Hawai‘i, advancing the state’s goal of 100% renewable energy by 2045. The 39 MW Mililani I Solar and 36 MW Waiawa Solar Power sites will be paired with a combined 300 MWh of storage, becoming among the first utility-scale battery storage and solar on the island.
EP New Energies (EPNE), the EPH group owned renewables developer, selected GE Renewable Energy (GE) to supply 50 wind turbines, each with 6 MW rated capacity. The wind turbines will be installed in onshore wind farms being developed by EPNE in Germany, among them the 100 MW project, Forst-Briesnig II, in the Federal State of Brandenburg, which is owned by LEAG.
MEXICO CITY: Mexico's lower house of Congress on Wednesday approved changes to existing legislation that could allow the government to revoke private oil companies' permits to import gasoline and other fuels.The initiative, part of President Andres Manuel Lopez Obrador's efforts to strengthen state influence over the energy market at the expense of private capital, passed with 292 votes in favor, 153 votes against and 11 abstentions.
Saudi Arabia is celebrating one of the biggest foreign-investment windfalls in its history after netting more than $12 billion by selling off a stake in the oil pipelines that traverse the desert kingdom.But the country may also be facing an uncomfortable reality as a result. As carefully cultivated relationships with firms such as BlackRock Inc. and SoftBank Group Corp. have yet to draw in the desired investment, it’s turning to the jewels of its energy industry to attract new money.
State-owned Oil and Natural Gas Corporation (ONGC) on Monday invited bids for the sale of initial 2 million standard cubic meters per day of gas from its KG basin fields at a minimum price of USD 6.6 per mmBtu.Initially, 2 million standard cubic metres per day of gas has been offered for sale through an e-auction. A senior ONGC official said the ceiling price is expected to rise to USD 5.5-5.6 at the next revision due on October 1.
Five years after the first discovered small field (DSF) auctions for hydrocarbons, project developers continue to face multiple issues. Till now, none of these discoveries have begun production and officials from many new entrants to India’s upstream oil and gas exploration sector point fingers towards delays in clearances and faulty data. “The efforts of the Directorate General of Hydrocarbons are in creative construct, yet achieving the mission of expediting domestic production is being hampered owing to delays in policy decisions.
The International Renewable Energy Agency (IRENA), and the State Grid Corporation of China (SGCC), have today signed a new Memorandum of Understanding (MoU) that will see the two organisations work closely to support grid enhancements, system flexibility and sector-coupling in China and IRENA’s Clean Energy Corridor regions. The agreement aims to advance the global energy transformation towards a net zero energy future particularly in developing countries.
Saudi Arabian energy company ACWA Power has announced the opening of a utility-scale solar renewable energy project in the country. The 300MW Sakaka PV independent power producer (IPP), which was built with an investment of SAR1.2bn ($319m), was inaugurated by Crown Prince Mohammed bin Salman. Salman said: “The private sector plays a fundamental role in the development of renewable energy projects in Saudi Arabia.
Uganda, Tanzania and French oil company Total are set to sign agreements Sunday on building a heated pipeline to carry crude oil from western Uganda to the Indian Ocean coast. Construction of the pipeline, which would be the world's longest at 897-miles, is expected to begin this year. Tanzania's new leader, President Samia Suluhu Hassan, is in Uganda to sign the documents, perhaps her most important executive action since her inauguration last month.
Oil rose on Monday amid hopes that fuel demand is picking up in the United States as the summer driving season approaches and the rollout of COVID-19 vaccinations there accelerates, though increasing case numbers in other countries are set to cap gains.Brent was up 25 cents, or 0.4 per cent, at $63.20 a barrel by 0155 GMT. U.S. crude gained 17 cents, or 0.3 per cent, to $59.49 a barrel.