Crude Oil Today: Crude oil prices rise on concerns over Canadian wildfires

[ad_1] Crude oil futures traded higher on Tuesday morning as the market expressed concerns over the potential impact of Canadian wildfires on crude oil supplies. At 9.52 am on Tuesday, July Brent oil futures were at $83.48, up by 0.14...

India’s natural gas consumption to surpass 64 BCM in 2024

[ad_1] Natural gas consumption in India is expected to grow by 7 per cent y-o-y to 64.35 billion cubic meters (BCM) in the current calendar year aided by lower prices and rising demand from power and industrial sectors.Also read:Indian Gas...

IGX launches small scale LNG contracts

[ad_1] Indian Gas Exchange (IGX) said on Wednesday that it has launched contracts of small-scale liquefied natural gas (ssLNG) on its platform after it received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB).This move marks a significant step...

Coal keeps powering India as booming economy crushes green hopes

[ad_1] Built along a stretch of salt flats in southern India, the Tuticorin power plant epitomises a quagmire for the world’s fastest-growing major economy: how to provide reliable energy to 1.4 billion people.Also read:India’s thermal coal imports climb to a...

Firms told to run gas units as power ask rises

[ad_1] The government has directed companies to operate underutilised gas-based power plants in May, June and extend operations of imported coal-based plants until October 15 to meet anticipated high demand for electricity, as per two government orders.Also read:Natural gas futures...

SPIC transitions to 100% natural gas for urea production

[ad_1] Southern Petrochemical Industries Corporation Ltd. (SPIC) has announced that it has completely transitioned to 100 per cent natural gas as a raw material source for the production of Urea. This will lower the final cost of fertilizer production. Feedstock...

Core sector growth reached a 3-month high of 6.7% in Feb

[ad_1] Eight core industries’ output growth hit a three-month high of 6.7 per cent in February 2024, reversing a slowing growth trend seen in January 2024 and December 2023 at 4.1 per cent and 4.9 per cent, respectively.Also, cumulative growth...

Higher domestic gas production to keep LNG imports range-bound for two years

[ad_1] India’s liquefied natural gas (LNG) imports are expected to remain range-bound for the next two years, beginning FY25, on account of growing production of natural gas in the country, ratings agency CareEdge said. India is envisaged to have a...

Core sector growth slumps to 15-month low of 3.6% in January 2024; coal, steel and cement sectors shine

[ad_1] The eight core industries’ output growth slid to a 15-month low of 3.6 per cent in January 2024, which is also the lowest monthly print so far this fiscal. The latest reading was lower than the revised 4.9 per cent...