127 Indian businesses have pledged to achieve net-zero goals: Report

A research claims that 127 Indian companies are dedicated to achieving net-zero goals. According to the ICRA ESG Ratings assessment, roughly 7% of these come from industries with high emissions, such as mining and building materials, while the remaining 7% come from industries with low to medium carbon footprints, such as software, services, and textiles.

ONGC Videsh acquires $60 mn stake in Azerbaijan’s ACG Field

ONGC Videsh Ltd, the international subsidiary of ONGC, has acquired a 0.615% stake in Azerbaijan’s Azeri-Chirag-Gunashli (ACG) field and a 0.737% shareholding in the Baku-Tbilisi-Ceyhan (BTC) pipeline for $60 million. This acquisition, finalized on November 29, 2024, strengthens ONGC Videsh’s existing interest in the ACG field, where it already holds a 2.31% stake, and its

Saudi Arabia may cut Asia’s January crude prices

Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said. The January official selling price (OSP) for flagship Arab Light may fall by 70 to 90 cents a barrel from December

Rajya Sabha passes bill to boost investment in oil and gas exploration

The Rajya Sabha passed a bill that seeks to amend existing law governing exploration and production of oil and gas, and delink petroleum operations from mining operations to boost investment in the sector. The Oilfields (Regulation and Development) Amendment Bill, 2024, introduced in the Rajya Sabha in August this year, was passed by a voice

Ambuja Cements partners with Coolbrook for cement manufacturing

Ambuja Cements has taken a step toward achieving its Net Zero goals. The company has partnered with Finland-based technology leader Coolbrook to implement its proprietary RotoDynamic Heater™ (RDH™) technology. According to the exchange filing, this cutting-edge, zero-carbon heating solution, powered by renewable electricity, will drastically reduce the company’s dependence on fossil fuels and lower its

Goyal advocates for sustainable consumption habits to reduce carbon emissions

Piyush Goyal, minister of commerce and industry, urged the promotion of sustainable consumption habits in order to reduce carbon emissions and address environmental concerns. According to him, consumers worldwide must concentrate on consuming environmentally friendly goods. Because of the way we currently live, we must be aware of the waste and carbon imprint. This will

Coal India and Bharat Petroleum sign MoU to assess a coal-to-synthetic natural gas project

Two Maharatna public sector enterprises, Coal India Limited (CIL) and Bharat Petroleum Corporation Limited (BPCL), have inked a non-binding Memorandum of Understanding (MoU) to investigate the viability of starting a coal-to-synthetic natural gas (SNG) project. In Mumbai, the MoU was signed on December 2, 2024. Surface coal gasification technology will be used in the project,

Maersk to use up to 20% alternative fuels for its fleet in 2030

A.P. Moller-Maersk, a global shipping leader, is targeting up to 20% of its marine fuel consumption to come from alternative sources by 2030. This move is critical to the company’s goal of achieving net-zero emissions by 2040. Maersk consumed 10-11 million metric tons of fuel oil equivalent in 2022, with only 3% from alternative fuels.

At the expense of Russia, Saudi Arabia increases its share of crude oil in Asia

In November, Russia gave up some of its barrels of crude oil, which could be a precursor to a change in market dynamics, while Saudi Arabia regained market share of Asia’s imports. According to data published by LSEG Oil Research, Asia’s imports from Saudi Arabia, the largest crude exporter in the world, increased from 5.28

Granules India secures SBTi validation for net-zero climate strategy

Granules India Limited has achieved a significant milestone in corporate sustainability, receiving validation from the Science Based Targets initiative (SBTi) for its comprehensive climate action plan, the company announced. Using FY2023 as a baseline, the pharmaceutical business has committed to aggressive goals for reducing greenhouse gas (GHG) emissions, including a 42% decrease in absolute Scope