Power Grid Corporation of India has acquired MEL Power Transmission from PFC Consulting for Rs 558 crore. This acquisition will facilitate the establishment of a transmission system to evacuate power from Mahan Energen’s generation station in Madhya Pradesh. The project includes a 400 kV transmission line and associated infrastructure, ensuring reliable power evacuation.
India coal power output drops 9.5% in May at fastest pace in five years
India’s coal-fired electricity generation experienced a significant 9.5% drop in May, marking the fastest decline in five years, driven by decreased power demand and a surge in renewable energy output to a record high. Consequently, natural gas-fired power generation also plummeted, while the share of coal in the power mix reached its lowest level since June 2022.
Early monsoon cools June power demand target
The Grid Controller of India has revised down its peak power demand target for June to 261 GW, a decrease from the earlier projection of 269 GW. This adjustment is attributed to the early arrival of the monsoon and unexpectedly mild temperatures, which are expected to dampen electricity consumption.
CGD to drive India's gas demand, set to become biggest consumer
India’s city gas distribution sector is set to become the top natural gas consumer, overtaking fertiliser plants. This growth is fueled by expanding CNG and piped gas networks. Natural gas consumption is projected to increase significantly in the coming years. However, India will rely on LNG imports to meet the rising demand.
India can increase imports of shale gas, LNG, crude from US: Official
India aims to diversify its import basket by increasing purchases of shale gas, LNG, and crude oil from the US, leveraging lower prices. Trade talks are scheduled amidst uncertainties like potential tariff hikes, with India prioritizing a balanced, mutually beneficial agreement. Both nations are targeting to more than double bilateral trade to USD 500 billion by 2030.
IEX electricity trade volume jumps 14% to 10,946 MU in May
The Indian Energy Exchange (IEX) witnessed a 14% surge in electricity trade volume, reaching 10,946 MU in May. Renewable Energy Certificates (RECs) trading jumped 65% year-on-year. While Day Ahead Market prices fell 22% to Rs 4.12/unit, the Real-Time Market saw a record volume increase of 42%.
Oil India's subsidiary to build major aviation fuel plant in Odisha under expansion push
Numaligarh Refinery Limited (NRL) is planning to establish a 200 KTPA aviation fuel plant in Odisha as part of its net-zero initiative, targeting completion by 2040. NRL is also exploring activated carbon production from bamboo dust, with assistance from IIT Guwahati, and expanding its capacity from 3 to 9 MMTPA with a new crude oil pipeline.
ONGC says losing money in Assam, counters protesting employees
ONGC faces financial strain in Assam. Low production and high manpower contribute to losses. Employee protests arise over overtime payment discontinuation. ONGC defends its local hiring and community investments. Medical facility changes aim to curb misuse. Despite challenges, ONGC commits to Assam through CSR initiatives. Dialogue continues between management and employee representatives.
Oil India commences natural gas production from Bakhri Tibba block in Jaisalmer
Oil India Limited starts natural gas production at Bakhri Tibba block. The block is near the India-Pakistan border in Rajasthan. Hardeep Singh Puri announced the start of production. The gas production has reached 67,200 standard cubic meters per day. The gas is supplied to GAIL and Rajasthan Rajya Vidyut Utpadan Nigam Limited. This production enhances India’s energy security and self-reliance.
Chennai Petroleum to set up retail fuel outlets; commits Rs 400 crore capex
Chennai Petroleum Corporation Ltd, an IndianOil Group company, is venturing into establishing retail outlets for petrol and diesel during its Diamond Jubilee year, investing ₹400 crore.