Beauty is what you buy

BPCL’s finance chief, Vetsa Ramakrishna Gupta, anticipates oil prices to remain stable in the near term, fluctuating between $60-70 per barrel as US tariff uncertainties resolve. He dismisses the possibility of a significant price crash similar to 2015-16, expecting OPEC to implement production cuts if prices decline to $50-55.

Assam Chief Minister Himanta Biswa Sarma met with Vedanta Group representatives to plan the company’s Rs 50,000 crore investment in Assam’s energy sector. Vedanta aims to boost oil and gas production to 100,000 barrels per day, potentially transforming the region into a major hydrocarbon hub.

India’s diesel demand growth hit a pandemic-era low in fiscal year 2024-25, rising just 2% due to a slowing economy and the increasing adoption of electric vehicles. While diesel still dominates the transport sector, the shift to EVs in public transport and logistics is moderating its growth.

As Europe grapples with energy security concerns amid geopolitical shifts and strained relationships with the U.S., major EU firms are considering a partial return to Russian gas imports, including from Gazprom. This potential shift comes as the EU aims to reduce reliance on U.S.

NPCIL is garnering interest from other central PSUs like Indian Oil Corporation and Indian Railways for joint nuclear power plant development. States are also keen on holding minor stakes to support these projects. NPCIL aims to reach 22 GW by 2031-32, with a larger 50 GW target by 2047, utilizing both pressurized heavy water and light water reactor technologies.

BP Plc is targeting increased natural gas production in India, spurred by recent government reforms. The company, in partnership with Reliance Industries Ltd, aims to extract nearly 10 million cubic meters per day from the NEC-25 block. BP’s CEO, Murray Auchincloss, highlighted that policy changes have improved the investment climate, attracting global players to support India’s energy security.

India is significantly advancing its energy storage capabilities with the Central Electricity Authority concurring on six hydro-pumped storage projects totaling 7.5 GW in 2024-25. Aiming for 22 GW in 2025-26, these projects will enhance grid reliability and support renewable energy goals. With private sector involvement increasing, India’s hydro PSP potential is expanding rapidly, targeting 50 GW by 2032.

NTPC Ltd is set to expand its coal-based power capacity to 30 GW by FY32, exceeding its previous goal, to meet rising base load demand. The company plans to commission approximately 3 GW of thermal power this fiscal year and aims to add 5 GW of renewable energy in FY26.

GAIL India Ltd. has issued a tender to acquire up to a 26% stake in a US liquefied natural gas project, coupled with a 15-year gas import agreement. This move supports India’s efforts to reduce its trade surplus with the US. GAIL seeks 1 million metric tons per year of LNG from the US plant, starting by 2029-2030.

Maharashtra has partnered with Russia’s ROSATOM to develop a Small Modular Reactor using thorium fuel. The MoU, signed in the presence of Chief Minister Devendra Fadnavis, aims to commercialize thorium reactors adhering to AERB safety standards and establish a local assembly line under the ‘Make in Maharashtra’ initiative.