LNG exports grow at slowest pace since 2015

Global liquefied natural gas exports grew at the slowest pace since 2015, threatening to keep prices elevated until new supply comes online to meet rising demand. Annual LNG shipments are set to rise 0.4% to roughly 414 million tons this year. Delays to US projects and sanctions against Russia’s newest facility curbed new supply into the market.

India’s fuel consumption increases 8% in 2024

India’s petrol consumption rose by almost 8 percent in the year till November from the previous year, while diesel witnessed a growth of 2.4 percent in the same period. India’s fuel demand saw an uptick in 2024 as the country’s energy consumption continues to grow amid the aim of becoming a ‘Viksit Bharat’ by 2047.

UAE companies to start tracking and reporting carbon emissions

The United Arab Emirates (UAE) will require companies to monitor and report their emissions in an effort to reach a target to become carbon neutral by 2050. All companies with emissions equivalent to 500,000 tonnes or more of carbon dioxide per year are required to participate, according to legislation that came into force on Dec

Emarat and Lootah Biofuels sign MoU to enhance cooperation in RE

The Emarat Petroleum Company (Emarat), the pioneering petroleum company, and Lootah Biofuels, a pioneer in the circular economy producing biofuels from used cooking oils, have signed a Memorandum of Understanding (MoU) to enhance cooperation in line with the UAE plans to develop renewable energy sources and enhance sustainability. The MoU aims to establish a framework

Petrol won’t come under GST: Hardeep Puri

Union Petroleum Minister Hardeep Singh Puri has ruled out the inclusion of petrol under GST, citing its impact on state revenues and the ongoing fluid economic situation. He, however, indicated that fuel prices might decrease if global crude oil prices stabilise and international turbulence subsides.   Currently, international crude oil prices hover around $72-$73 per

GHG emissions fell 7.93% in 2020 compared to 2019: Report

India’s total greenhouse gas emissions in 2020 declined by 7.93 per cent compared to 2019, while its GDP emission intensity fell 36 per cent between 2005 and 2020, according to new data submitted to the UN climate change office. In its fourth Biennial Update Report (BUR-4) submitted to the United Nations Framework Convention on Climate

India’s non-fossil fuel-based power generation hits record 213.7 GW

India achieved a significant milestone in 2024, with its non-fossil fuel-based power generation capacity reaching a record high. This achievement underscores the country’s commitment to transitioning towards cleaner and more sustainable energy sources, in line with global efforts to combat climate change and reduce greenhouse gas emissions. The development highlights India’s progress in expanding renewable

Government initiates anti-dumping probe into LNG fuel tanks imports

India has initiated a probe into alleged dumping of LNG fuel tanks from China following a complaint by a domestic player, according to a commerce ministry notification. The commerce ministry’s investigation arm, Directorate General of Trade Remedies (DGTR), is probing the dumping of liquified natural gas (LNG) fuel tanks as imports are allegedly hurting the

Reliance’s Jamnagar refinery completes 25 years of operations

Twenty-five years ago, on December 28, 1999, Reliance launched its first refinery at Jamnagar, Gujarat. The refinery overnight turned India from a fuel deficit nation to a self-sufficient one and later into a surplus, exporting gasoline and gasoil to Europe and the US. Jamnagar has become the world’s refining hub – an engineering marvel that

New York to fine fossil fuel companies $75 bn under new climate law

New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law recently. The law is intended to shift some of the recovery and adaptation costs of climate change from individual taxpayers