Category: oil-&-gas

NTPC Ltd., India’s largest power producer, is discussing technology cooperation with multiple international firms to expand its nuclear energy capacity by 10 GW by 2033. The company is targeting both small modular reactors and larger ones as part of India’s decarbonization efforts, with ongoing talks including EDF, Holtec, and Rosatom.

Hindustan Petroleum plans to increase the capacity of its Vizag oil refinery by 20% to meet rising local fuel demand. The company will also start operations at Vizag’s new units to improve yield and margins while building a petrochemical plant at its Barmer refinery to enhance petrochemical conversion.

Oil and Natural Gas Corporation (ONGC) has signed a MoU with BP to explore collaboration in oil and gas projects in India and abroad. The partnership will focus on enhancing production, trading, and exploring new energy vectors. This collaboration aims to boost ONGC’s output, optimize management of fields, and create value in additional energy vectors such as carbon sequestration.

India is expanding its crude oil import sources, now sourcing from 40 countries, including the recent addition of Argentina. The Petroleum Minister emphasized the dynamic nature of imports, influenced by price and proximity advantages. With over 80% of crude oil reliant on imports, India is also promoting natural gas and alternative fuels to boost domestic production and reduce dependency.

India will begin licensing rounds for oil and gas blocks this week, Oil Minister Hardeep S. Puri announced. He expressed hope that energy supply issues would be discussed during Prime Minister Modi’s upcoming meeting with U.S. President Trump, stating, “I will be surprised if energy sourcing is not part of the discussion.”

Plans for refining capacity in Ratnagiri are being restructured into smaller units, with potential collaborations from Saudi Aramco and ADNOC. The Maharashtra government will continue to support electric vehicles, and infrastructure projects like the Nagpur-Mumbai Expressway and rapid rail developments are set to advance.

Indian oil firms are discussing long-term LNG purchases with US suppliers ahead of Prime Minister Modi’s meeting with President Trump. Companies like Indian Oil Corp. are under pressure to secure deals but seek favorable terms. The talks coincide with India’s efforts to curb reliance on dirtier fuels and align trade balances with the US.

India is considering increasing energy imports from the US as Prime Minister Modi prepares to meet President Trump. Challenges include competitive pricing and higher shipping costs due to distance. Long-term US LNG deals are scarce and linked to the Henry Hub benchmark, which Indian buyers find volatile. Despite these hurdles, strategic discussions are ongoing.

Clean Core Thorium Energy, a US nuclear fuel startup, raised $15.5 million in funding over two rounds, with the latest closing in December 2024. The funds support commercialization of its ANEEL fuel for use in India’s reactors, in partnership with NTPC Ltd and L&T, pending regulatory approvals.

Jindal Nuclear plans to invest about Rs 1.80 lakh crore for building 18GWe of nuclear power capacity in India over the next two decades. This initiative aligns with the Government of India’s goal of achieving 100GWe of nuclear power by 2047. These projects will use advanced technologies, create jobs, and support sustainable economic growth.