India’s oil demand to peak later than in other major economies: Report

India’s refined crude demand will peak later than in other major economies, placing the country in the spotlight driving this demand. According to S&P Global Commodity Insight in a note, said while alternative fuels are gradually shifting energy consumption patterns away from fossil fuels, the fossil fuel usage will remain significant in the foreseeable future.

Fuel demand in January rises 3.2% to 20.49 million tonnes

India’s January fuel consumption hit its lowest monthly level since October, but was up 3.2 per cent year-on-year at 20.49 million metric tonnes, according to oil ministry data. India is the world’s third-largest consumer and importer of oil. The data is a proxy for the country’s oil demand. On a monthly basis, January fuel demand was

India allocates $647 mn for strategic oil reserves

India has allocated 55.97 billion rupees ($646.78 million) to purchase oil for its strategic petroleum reserves (SPRs) for the fiscal years 2025-26, amid global supply uncertainties. The Indian Strategic Petroleum Reserve Ltd (ISPRL), which manages the federal oil inventories, currently operates three SPRs in southern India with a combined capacity of approximately 5 million tons.

Shell leads the $1.4-bn carbon credits market

Shell led the global voluntary carbon market with the most carbon credits retired in 2024. Shell, other multinational energy firms, technology, and fashion giants have been increasingly leaning on carbon credits as one way to reduce their greenhouse gas emissions and meet their net-zero corporate goals. Companies use the so-called carbon credits to remove, reduce, or save

Study says oceans are warming faster

The world’s oceans are warming four times faster than they were in the late 1980s, according to a new study. The alarming acceleration helps explain why 2023 and 2024 saw unprecedented ocean temperatures — and more extreme storms. The findings have enormous ramifications for ocean health, as rising temperatures impact everything from coral reefs to fisheries. The longer-term knock-on impacts

Majority of global businesses set to miss 2050 net zero goals

According to the fourth edition of Accenture’s ‘Destination Net Zero’ report, just 21% of companies on the continent are currently on-track to reach net zero. While only 33% of European G2000 companies are reporting rising emissions, then, progress is simply too slow, at present. Further afield, however, the picture is even bleaker. Dragging the global average

JSW plans tie-ups for EVs and batteries

JSW Group will soon be finalising multiple technology partnerships to drive its foray into electric car and commercial vehicle production, as well as battery manufacturing. The collaborations are part of a broader strategy by the conglomerate to grow its footprint in the evolving mobility segment. The group’s plans track a continuing shift in the Indian

Volvo Eicher to follow LMD’s lead in electric LCV market

Volvo Eicher Commercial Vehicle is raising the stakes in the electric small commercial vehicle space with the launch of Eicher’s 2-3.5 tonne Pro X Range. While Eicher’s entry into the electric LCV market may have been delayed, the management is confident that the company can replicate its success in the Light & Medium Duty (LMD)

NTPC issues tender for BESS pilot project at Dadri

NTPC Limited has issued a tender for a proof-of-concept battery energy storage system (BESS) pilot project to provide power backup for two Stage I units, which have a combined capacity of 420 MW, at the NTPC Dadri thermal power station in Uttar Pradesh. The project aims to replace existing diesel generators with a BESS designed

Google strikes biochar carbon removal deal with Varaha

Google will buy carbon credits from an Indian initiative that turns large amounts of agricultural waste into biochar—a form of charcoal that removes carbon dioxide from the atmosphere and returns it to the soil. The deal—signed by Google and Indian supplier Varaha—is one of the biggest ever involving biochar and is the tech giant’s first