Easier rules for critical minerals hunt
The government on Friday launched a new scheme to directly sanction exploration projects to Notified Private Exploration Agencies (NPEAs) for critical and deep-seated minerals.

Steel Ministry holds review meeting on surging steel imports from China, Vietnam
The government has reviewed the steel import situation amid concerns raised by the domestic industry over the increased inward shipments, according to an industry official. Steel players have been raising concerns with various ministries including steel and commerce over the surge in steel imports from select countries like China and Vietnam.

Govt formally allocates coal block in Jharkhand to NLC India
The Centre has formally allocated a coal block in Jharkhand to NLC India Ltd, the state-owned entity said on Friday. The PSU had emerged as successful bidder for North Dhadu (Western Part) mine in Latehar district of Jharkhand under commercial auctions held in August.

India gets bids for green hydrogen, electrolyser incentives
Reliance Industries, JSW Energy, Torrent Power and Bharat Petroleum Corp are among 14 companies that have bid for incentives under India's green hydrogen plan, according to a government agency.

Green H2 production: RIL Unit, BPCL & 12 others submit bids
Reliance Green Hydrogen and Green Chemicals, Bharat Petroleum Corporation (BPCL), Torrent Power, JSW Neo Energy, ACME Cleantech and Avaada GreenH2, GH4India are among the 14 companies that have submitted bids for the government's first green hydrogen manufacturing tender.

Mines Ministry to directly sanction exploration projects for critical minerals to notified agencies
New Delhi: In a major policy shift, the Mines Ministry will directly sanction exploration projects to notified private exploration agencies (NPEAs) for critical and deep-seated minerals. The new approach, aimed at giving an impetus to exploration of critical and deep-seated minerals, is expected to streamline the process, ensure faster sanction of projects, and quicker release of funds to these agencies. “The decision to allow NPEAs to directly submit projects will cut delays in sanction of projects, as well as help in faster execution of projects,” a Ministry official said.

Centre to directly sanction critical mineral exploration projects to notified agencies
The Union Ministry of Mines announced on Friday that it will directly sanction exploration projects to notified private exploration agencies (NPEAs)

Steel ministry begins industry consultations as imports exceed exports
New Delhi, Mumbai : The ministry of steel has begun consultations with domestic producers to explore strategies for reining in imports as these have exceeded exports from India, the world’s second-largest producer of the alloy.

Union Steel Minister Jyotiraditya Scindia asks domestic industry to use AI

Union Steel Minister Jyotiraditya Scindia has asked stakeholders in the steel sector to enhance the application of Artificial Intelligence (AI) in their respective Steel Plants. He was speaking during a Chintan Shivir organised by his ministry focusing on the impacts of the Carbon Border Adjustment Mechanism (CBAM) and the pivotal role of AI.

G-7 ban on Russian diamonds not to impact India: Govt
The move by the G-7 countries to ban exports of rough diamonds by Russia would have no impact on the Indian gems and jewellery sector because of its positioning in the value chain and exemptions available in the curbs announced, a senior official said Friday.

India allays gems & jewellery industry’s concerns: No double checks on diamond exports to G7

The government on Friday allayed industry’s fears on the Group of Seven (G7) nations’ decision to ban Russian diamond imports from next year.

OMC stocks on uptrend over lower crude oil prices; BPCL, HPCL see sharp gains, Indian Oil hits 52-week high
Shares of Indian oil marketing companies (OMCs) are on an uptrend as noted in the last few sessions over the declining prices of international crude oil as investors expect limited effects of supply cuts announced by the Organistation of Petroleum Exporting Countries and its allies (OPEC+). 

Oil prices on track for first weekly rise in two months
Oil prices rose on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar.

India will renew oil purchases from Venezuela: Oil minister Hardeep Puri
India will renew crude oil purchases from Venezuela as the South American nation no longer faces sanctions from the US, oil minister Hardeep Puri said on Friday.

Can Google help save petrol, diesel? New feature update promises fuel-efficient drive
Google Maps now offer a choice to select preferred fuel-efficient routes when someone plans a trip. The feature, which offers alternate routes for fuel-efficient drive, can be accessed through the setting of the app. Google had introduced the feature in countries like United States, Canada as well as European nations.

World coal consumption to decline next year after record high in 2023: IEA
World coal consumption should start declining next year after peaking in 2023, the International Energy Agency (IEA) said on Friday.

NTPC Mining logs 23.22 MMT coal output in FY24 so far
NTPC Mining has achieved coal output of 23.22 Million Metric Tonne (MMT) in FY24 so far, surpassing 23.20 MMT achieved in entire 2022-23 financial year. The milestone was achieved in record 257 days, taking 108 less days than in FY23, recording year-on-year growth of 77 per cent in coal production and 88 per cent in dispatch.

With three months still to go, NTPC Mining outdoes its FY23 coal output
New Delhi : NTPC Mining Ltd (NML) has produced 23.223 million tonnes of coal so far this financial year, just about exceeding its total output in all of FY23.

Global coal demand expected to decline in coming years: IEA
After reaching an all-time high this year, global coal demand is expected to decline by 2026 due to a major expansion of renewables, according to the latest edition of the International Energy Agency's (IEA) annual coal market report. This is the first time that the report has predicted a drop in global coal consumption.

Vedanta Resources outlines terms for bond restructuring

Vedanta Resources bonds saw some selling by private banks and wealth clients after the restructuring announcement. The bond maturing in January fell 2-3 points to 90/91, said a trader.

India’s coal demand to grow at 3.5% annually till 2026: IEA
Coal demand in India, the world’s second largest consumer of the critical commodity, is expected to rise by 3.5 per cent annually till 2026 topping 1,397 million tonnes (mt), the International Energy Agency (IEA) said on Friday.

Average power cost up 71 paise in FY23: power ministe
The average power purchase cost increased by 71 paise between FY22 and FY23, said Union minister for power R.K. Singh.

NTPC seeks public nod for Sipat project expansion in Chhattisgarh

The state-run Chhattisgarh Environment Conservation Board (CECB) on Monday conducted a public hearing for NTPC Sipat stage III (1 x 800 Mw Ultra Super Critical Technology Project) at the village. People from project-affected villages, local representatives, stakeholders, and officials gathered in large numbers and lodged their opinions on granting permission to augment the capacity of the project.

Tata Power Solar Systems bags Rs 418 cr order to supply 152 MWp solar modules for NTPC project
Tata Power Solar Systems has bagged a Rs 418 crore order to supply 152 MWp solar PV modules for an NTPC project at Nokh in Rajasthan. Tata Power Solar Systems Ltd (TPSSL) has signed a contract to supply 152 MWp solar PV modules for NTPC's Nokh Solar PV Project in Rajasthan, the company said in a statement.

Sterling and Wilson Renewable Energy raises Rs 1,500 crore through QIP
Sterling and Wilson Renewable Energy Ltd (SWREL) has raised Rs 1,500 crore through the Qualified Institutions Placement (QIP) route from domestic mutual funds and marquee global investors.

Suzlon bags 100.8 MW wind energy project in Gujarat
New Delhi: Renewable energy solutions provider Suzlon has secured a 100.8 MW wind energy project from a leading global company. The company will execute the project with a scope of supply, supervision, and commissioning. Additionally, Suzlon will undertake post-commissioning operation and maintenance services.

Indian solar industry still heavily reliant on Chinese imports
Indian imports of solar power equipment have risen rapidly this year, and the country is still highly reliant on foreign suppliers despite Prime Minister Narendra Modi’s efforts to increase self-sufficiency, according to BloombergNEF.

Adani Green Energy incorporates 2 subsidiaries
Adani Green Energy on Friday announced the incorporation of two step down subsidiaries Adani Renewable Energy Fifty Six Ltd and Adani Renewable Energy Fifty Seven Ltd.”Adani Renewable Energy Holding Nine Ltd, a wholly-owned subsidiary of the company, has incorporated two wholly-owned subsidiaries, namely, Adani Renewable Energy Fifty Six Ltd (ARE56L) and Adani Renewable Energy Fifty Seven Ltd (ARE57L) on December 14, 2023,” a BSE filing stated.

TN boasts over 8400 MW in conventional and nuclear power projects under construction
Chennai: More than 8400 MW of power projects, which include coal-fired, hydro, and nuclear, are under construction stage in Tamil Nadu, according to information provided by Union Minister of Power & New and Renewable Energy, R K Singh ,at the Lok Sabha.

Coal's peak is here but it's not going away soon
Global efforts to boost clean energy and rein in carbon emissions have had a clear impact on coal: consumption of the dirtiest fossil fuel is expected to peak this year.

Rupee jumps 27 paise to 83.03 against U.S. dollar amid stocks rally
The rupee jumped by 27 paise to close at 83.03 (provisional) against the U.S. dollar on Friday following unabated foreign fund inflows and a record-breaking rally in domestic stocks.

India's forex reserves up USD 2.82 bn to USD 606.86 bn for the week ending December 8
India's foreign exchange reserves increased by USD 2.82 billion to USD 606.86 billion for the week ending December 8, the latest data by the Reserve Bank of India (RBI) showed on Friday.