Most LNG import terminals in India underutilised
Most of India's liquefied natural gas (LNG) import terminals are deeply underutilised as capacities have expanded at a far faster pace than the domestic gas demand.

India Hydrogen Alliance gets seven new industry members
Industry body India H2 Alliance on Tuesday said it has expanded its membership with seven new industry members. The India H2 Alliance is an industry coalition of global and Indian companies committed to the creation of a hydrogen value-chain and economy in India.

Reliance Industries Ltd and DBS Bank partner to finance CBG projects

Reliance Industries Ltd has joined hands with DBS Bank India to launch a financing program for compressed biogas (CBG) plants.

India mulls safeguard measures on steel imports
New Delhi: India is planning to introduce some safeguard measures on steel imports, along the lines of European Union’s (EU) quota system to check the surge in inflows. Other options on the table include exploring the possibility of placing import restrictions across ports and removing the lesser duty rule, sources in the Union Steel Ministry told businessline. The move comes even as India has seen a surge in steel imports, specially shipments coming in from China, and Chinese supplies being routed through Vietnam.

Tata Steel to invest ₹100 cr in centre for innovation in London
 

India’s refined copper demand to grow by 11% in FY24 on govt’s infra development plans, transition to renewable energy
The domestic refined copper demand growth will remain healthy at ~11 per cent in FY2024 and FY2025, outpacing the rate of global growth in copper demand, given the Government’s thrust on infrastructure development and a gradual transition to renewable energy, according to a report by ICRA. Per the report, the price of copper is expected to remain range-bound at current levels of ~8200-8300/tonne in the near term and it foresees a stable outlook for the domestic copper industry. 

Hindalco to build battery foil facility in Odisha
Hindalco Industries, a metal company, is set to establish a Rs 800 crore battery foil manufacturing facility in Odisha. The facility, scheduled to be commissioned by July 2025, will have the capacity to produce 25,000 tonnes of high-quality aluminium foil. The company, in a press note said this move is part of the company’s ambitious plan to meet the rising demand for fine-quality aluminium foil used in rechargeable batteries.

CBIC to form panel addressing grievances of gems and jewellery industry

The Central Board of Indirect Taxes and Customs (CBIC) is planning to set up a panel to look into the grievances of the gems and jewellery industry regarding customs clearances.

Do not expect LPG prices to go down, we will remain in current or higher range: Rakesh Kumar Jain, GAIL
Rakesh Kumar Jain, Director Finance, GAIL, says “the last six months were really tough, but now polymer prices have stabilised and input prices have gone down. So, we expect at least in the six months, and we will break even or we expect that even on a yearly basis, will be far better than where we were in the first six months.”

Oil falls more than 3% on softening demand, oversupply concerns
Oil prices fell more than 3% on Tuesday to their lowest level in six months on concerns of oversupply and after U.S. economic data showed an unexpected rise in consumer prices.

Modi Naturals receives Rs 240 crore ethanol order from IOCL, BPCL, HPCL
Modi Naturals Ltd. (MNL) has announced that its wholly-owned subsidiary, Modi Biotech Private Limited (MBPL) has successfully secured an order for 3.72 Crore Litres of ethanol, with an estimated value of approximately Rs. 240 Crores, from various Oil Manufacturing Companies (OMCs) including Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL).

Bharat Petroleum may join Reliance, IOCL to secure oil from Venezuela
India's state-owned oil refiner Bharat Petroleum Corp may be the latest to join the list of local companies buying Venezuela oil after the US lifted sanctions in October.

EIA: Crude prices likely to stay around $83 per barrel in 2024

New Delhi: Crude oil prices will average $83 per barrel for all of 2024 as recent OPEC+ production cuts are expected to offset lower demand growth, the US Energy Information Administration (EIA) has forecast.

NMET-funded 11 mineral blocks auctioned, six under process: Coal minister
The government on Wednesday said as many as 11 mineral blocks funded by the National Mineral Exploration Trust have been auctioned while six other blocks are under the sale process. The National Mineral Exploration Trust (NMET) was set up in 2015 to boost regional and detailed mineral exploration activities.

MOIL enters into partnership with GMDC to form 51:49 joint venture for manganese ore mining in Gujarat
State-owned MOIL Limited on Wednesday announced that its board has approved a strategic partnership with Gujarat Mineral Corporation Limited (GMDC) for manganese ore mining in Gujarat. The partnership will form a 51:49 joint venture company between MOIL Ltd and GMDC. 

MOIL board approves pact to form JV with Gujarat Mineral Corp for manganese ore mining
New Delhi, State-owned MOIL board on Wednesday approved an agreement to form a joint venture company with Gujarat Mineral Corporation for manganese ore mining in Gujarat. MOIL will have a majority 51 per cent stake in the JV company, while the remaining 49 per cent will be held by GMDC, the state-owned firm said in a BSE filing.

JSW Energy (Barmer) completes bonus issue of 75.38 crore shares
JSW Energy arm JSW Energy (Barmer) Ltd on Wednesday said it has completed a bonus issue of 75.38 crore shares worth Rs 753.89 crore. “JSW Energy (Barmer) Ltd (JSWEBL), a wholly owned material subsidiary of the company, has completed a bonus issue of 75,38,93,332 fully paid-up equity shares of Rs 10 each amounting to Rs 753,89,33,320,” a BSE filing said.

HPL electric and power ltd’s shares rise 10% on orders worth ₹545 crore
HPL Electric and Power Ltd.’s shares were up by 10 per cent after the company announced the acquisition of smart meter orders totaling Rs 545 crore from several customers as part of its routine operations.

Mint Primer: Why India needs a new hydropower policy
 

IREDA shares surge for sixth consecutive day, triples from IPO price within 10 days
Shares of the Indian Renewable Energy Development Agency (IREDA) continued their upward movement for the sixth consecutive day, registering a 10% gain on Wednesday, following a surge that triggered a 20% upper circuit on Tuesday.

Tata Power Renewable Energy inks pact to build 13.2 MW group captive solar plant
New Delhi: Tata Power Renewable Energy on Wednesday said it has inked an agreement with Dr. Abhay Firodia Group of Companies -- Force Motors Ltd and Jaya Hind Industries Pvt Ltd -- to develop a 13.2 MW group captive solar plant. "Tata Power Renewable Energy Ltd (TPREL) entered into a Power Delivery Agreement (PDA) with Dr. Abhay Firodia Group of Companies -- Force Motors Limited and Jaya Hind Industries Private Limited -- for supplying green power for 25 years under Group Captive scheme," a company statement said.

M&M to acquire 60.01% stake in ESPL
Mumbai: Mahindra & Mahindra (M&M) will acquire 58,64,835 equity shares of Emergent Solren Private Limited (ESPL), a solar power generator subsidiary of Mahindra Holdings Limited (MHL) for ₹288.05 crore. Following the completion of the acquisition, Mahindra & Mahindra will have a 60 per cent stake in ESPL while MHL’s shareholding in the company will become NIL. The company which was incorporated in November 2022 develops and operates renewable solar projects with a capacity of 360MWp.

Singapore's Sembcorp renewables' unit gets 300 MW solar project from NHPC
Singapore's Sembcorp Industries on Thursday said its renewables unit was awarded a 300 mega-watt (MW) solar power project by Indian government-run hydropower producer NHPC Ltd.

Dubai deal hailed as 'beginning of end' for fossil fuels
The world for the first time on Wednesday approved a call to transition away from fossil fuels as UN negotiations in Dubai tackled the top culprit behind climate change, but at-risk countries said far more action was needed.