Oil refiners from India using CNY to buy Russian crude

In June, Indian Oil was the first state refiner to pay for Russian crude in yuan, while at least two of India's three private refiners have completed similar transactions.

MAN and Shell to explore marine carbon footprint solutions

Together, the companies will work on optimising carbon capture plants through the modularisation and standardisation of compressor solutions.

TN amends rules for EVs and green fuel vehicles

The Tamil Nadu government has issued an order that permits shall be given for battery-operated vehicles and vehicles driven on ethanol and methanol as transport vehicles without collecting any fee. The government order is all set to pave the way for registration of battery-operated vehicles as transport vehicles in the state. So far, electric vehicles

Norway gives nod to offshore oil and gas investments

The government of Norway has given the green light to companies to develop 19 oil and gas offshore fields with investments valued over NOK200bn ($18.5bn). The Norwegian government said in a press release that the projects were either new developments, further development of existing fields, or investments in projects for increased extraction at existing fields.

Carbo credit trading scheme notified in India

The notification said the Centre will constitute a “National Steering Committee for the Indian carbon market" to govern and oversee the functions of the market.

WB approves financing for low carbon energy sector

The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy investments, the bank said in a statement.

BPCL to raise funds for green energy

Bharat Petroleum said it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis underscoring India’s push to achieve net zero-emissions goals. The details of the issue, including the price, right entitlement and timing will be intimated separately after the board approval. The Indian government is

India and EU to discuss carbon tax issues

India and the European Union have constituted two teams to discuss issues pertaining to the EU’s carbon tax, which will kick in from October 2023. The European Union (EU) is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1 this year. It would have an impact on seven carbon-intensive sectors, including steel, cement, fertiliser,

EUs CBAM to hit aluminum sector in India

The EU’s implementation of the CBAM, aimed at achieving net-zero emissions by 2050, threatens India’s position as a leading low-cost aluminum producer due to its higher emission intensity compared to European counterparts. Indian aluminum manufacturers are taking steps to address GHG emissions, but CBAM’s implementation and growing capacities in Middle Eastern countries still pose challenges

India mulls kicking off to seek equity in three big refineries

The Oil Ministry asked state-controlled Indian Oil Corp (IOC.NS) and Bharat Petroleum Corp Ltd (BPCL) (BPCL.NS) to launch rights issues, and asked Hindustan Petroleum Corp Ltd (HPCL) (HPCL.NS) to make a preferential share allotment to the government.