Month: April 2025

India and Saudi Arabia have agreed to collaborate on stabilising global oil markets and balancing energy dynamics, emphasising the security of supply for all energy sources. They will also cooperate in green hydrogen, climate change initiatives, and the circular carbon economy.

Bihar is actively engaging with NTPC Ltd to establish a nuclear power plant in Nawada district, according to Chief Secretary Amrit Lal Meena. The state has also requested the Power Ministry to consider Bihar for a nuclear project, potentially utilizing water from the Phulwaria dam.

Reliance Industries imported about 532,700 barrels per day (bpd) of Russian oil in March, marking a 17.3% increase from February, according to ship-tracking data. Russian crude made up 48.5% of Reliance’s total imports. However, overall crude imports fell by 19% to 1.1 million bpd due to an upcoming refinery maintenance shutdown.

India and Saudi Arabia are discussing joint refinery and petrochemical projects. They are also studying electricity grid connectivity. Saudi Arabia wants to increase oil exports to India due to China’s slowing demand. They might offer crude oil at lower rates. Saudi Aramco is considering investments in Indian refinery projects.

West Bengal Chief Minister Mamata Banerjee laid the foundation for a 1,600 MW ultra-supercritical thermal power plant by JSW Energy in Salboni, marking a significant stride in the state’s industrial growth. The project, with an investment of Rs 16,000 crore, is expected to generate 15,000 jobs and boost the state’s power generation capacity.

JSW Energy is investing Rs 16,000 crore in West Bengal to establish a 1,600-MW ultra-supercritical thermal power plant in Salboni, its largest greenfield project. Company officials highlight the project’s cost-effectiveness at Rs 10 crore per MW. JSW Energy is also planning a pumped storage project in Purulia, potentially adding 900-1,000 MW.

India’s oil and gas exploration policies, NELP and OALP, attracted significant investment, leading to numerous discoveries. While NELP faced challenges like clearance delays and cost recovery disputes, HELP’s revenue-sharing model aimed to improve ease of business. Recent OALP rounds and the DSF policy continue to drive exploration and development in the sector.

India is revisiting nuclear energy to meet increasing power demands and achieve energy independence, aiming for a 12.5-fold increase in nuclear power generation by 2047. This revival faces challenges, including safety concerns, high costs and public anxiety, reminiscent of past protests against nuclear plants like Kudankulam.

The Oil Ministry has announced that city gas distributors will now receive a quarterly allocation of ‘new well gas’ alongside regular domestic gas to better meet customer demand. This new system replaces the previous auction-based supply. While new well gas is priced higher at 12% of the crude oil price, it remains a cheaper alternative to imported gas.

India’s crude oil and natural gas production experienced declines in 2024-25 due to falling output from mature fields. This decrease has led to a rise in the country’s import bill, with India importing 88% of its crude oil and 51% of its gas consumption.