Month: April 2025

Reliance’s profit edged up by 2% year-on-year, although its oil-to-chemicals segment faced challenges due to weak transportation fuel cracks and downstream chemical market imbalances, resulting in multi-year low margins. The oil and gas business achieved record EBITDA, driven by increased production from KGD6 and CBM blocks, despite a slight revenue decrease due to lower gas production.

India is considering allowing foreign companies to hold up to a 49% stake in its nuclear power plants, according to government sources. This move aims to boost nuclear capacity and reduce reliance on coal as part of the country’s carbon reduction goals.

NHPC’s Parbati-III Power Station is projected to see a significant revenue boost of Rs 224.70 crore following the commencement of operations at the 800-MW Parbati-II project in Himachal Pradesh. Power generation at Parbati-III is expected to increase substantially in 2025-26, driven by the operationalization of the Parbati-II hydroelectric project.

THDC India has successfully synchronized the first 250 MW unit of its 1,000 MW pumped storage plant at Tehri in pump condenser mode to the Indian grid. This achievement marks a significant step towards commissioning India’s first variable speed PSP. Upon completion, the Tehri hydro power complex will boast a total installed capacity of 2,400 MW.

As Western sanctions pressure Russia’s oil exports, three more Russian insurers, including Sberbank Insurance, seek India’s approval for marine insurance on oil shipments. This move aims to maintain deliveries to India, Russia’s top oil buyer, despite growing scrutiny and a G7 price cap. India is evaluating the applications, potentially increasing the number of approved Russian insurers to eight.

Indian energy importers, including Gail India and Indian Oil Corp, are increasingly turning to cheaper oil products like naphtha and propane due to elevated LNG prices caused by outages at export plants. This shift, resulting in lower LNG imports, frees up supply for other Asian and European buyers.

Saudi Arabia is partnering with Indian companies to establish two refineries in India, each with a 9 million tonnes per year capacity. Aramco may invest ₹18,000 crore for a 26% equity stake in both projects. This renewed effort follows previous setbacks in securing a foothold in India’s refining sector, with talks ongoing regarding crude supply terms.

Private entity Adani Hydro Energy Five Ltd has entered into a power purchase agreement (PPA) with Uttar Pradesh Power Corporation for supply of 1,250 MW energy storage capacity. Adani Hydro Energy Five Ltd is a wholly owned step down subsidiary of Adani Green Energy Ltd (AGEL).

The All India Power Engineers Federation (AIPEF) has urged the government to halt the privatization of electricity distribution companies (discoms) in Uttar Pradesh and Chandigarh. AIPEF argues that discoms should remain in the public sector for the benefit of consumers and employees, highlighting improved viability and reduced losses in the public sector.

Megha Engineering & Infrastructure Ltd (MEIL) has secured a significant order worth Rs 13,000 crore from the Nuclear Power Corporation of India Ltd (NPCIL) to supply two 700 MW nuclear reactors. This marks MEIL’s entry into the nuclear energy sector, with the project involving the construction of Kaiga Units 5 & 6 in Karnataka.