Tech Mahindra signs ‘the climate pledge’

Tech Mahindra now joins a group of companies like SAP, Maersk and Harman in the ‘The Climate Pledge’, the commitment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. It is one of the 95 new signatories for the cause. This is nearly a 600 per cent growth in signatories

Fujairah faces more bunkering competition

The UAE’s Port of Fujairah, the world’s third-biggest bunkering hub, is facing increased competition to supply marine fuels in the region, with new entrants ranging from Saudi Arabia to Qatar and Egypt. Qatar has started supplying marine fuels for its own LNG fleet and is now probably the second-largest bunkering hub in the Middle East

Mumbai sets target plans for achieving netzero by  2050

Mumbai, the Maharashtra’s capital city, announced a comprehensive netzero plan to mitigate carbon emissions by 2050. A target that puts it two decades ahead of India’s national goal and makes it the first city in South Asia to set such a timeline. “We don’t have the luxury of time,” said Aaditya Thackeray, environment minister of

EC announces €300mn plan for expansion of hydrogen economy

Clean Hydrogen Partnership (CHP) – a brain child of the European Commission – has called for proposals on 41 different research topics with an outlay of €300 million for a comprehensive development of the hydrogen economy. The initial plan is to fund research that will enable hydrogen production and storage. Clean Hydrogen Partnership is a

Amid Russian crude loss European refiners forced to amend output

European oil refiners will probably be forced to cut production of gasoline and diesel as they seek to find alternatives to Russian feedstocks. Shell Plc, which operates Europe’s biggest oil refinery, said this week that operating rates at some of its plants will be reduced, while finding other crude supplies could take weeks. That would

Reliance to supply diesel to Europe

Energy crunch prompted by Russia’s invasion of Ukraine is giving Reliance Industries Ltd. a much-needed boost. The Jamnagar facility of the company is lifting crude processing and deferring planned maintenance to take advantage of surging demand for diesel, according to people with direct knowledge of the matter. It’s already sending shipments of the fuel to

Nitin Gadkari seeks reduction in fossil fuel consumption

Citing the spurt in crude prices due to the war in Ukraine as a wake-up call, Union Road Transport Minister Nitin Gadkari has urged chief executive officers of major vehicle manufacturers and representatives of automobile lobby group SIAM to expedite the roll-out of vehicles of flex-fuel variants. According to the ministry, Gadkari has maintained that

O&G companies are eyeing at a windfall from the Ukraine war

Oil and gas companies are facing a potential bonanza from the Ukraine war, though few in the industry want to admit it, and many are using soaring prices and the fear of fuel shortages to cement their position with governments in ways that could have disastrous impacts on the climate crisis. “There is a huge

No shortage of crude oil in the country: Hardeep Sigh Puri

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said oil companies will fix the fuel prices. He said that in the wake of Russi-Ukraine war, there is no scarcity of crude oil in the country. Puri, however, said the government will take decisions in the best interest of citizens. ”I assure you all

Higher bunker prices to weigh on demand in Fujairah

Bunker suppliers in the world’s third largest bunkering hub Fujairah in the UAE are concerned rising oil prices are weighing on marine fuels demand at the port. A number of bunker suppliers in Fujairah said they were concerned that demand at the hub is declining as they see buyers considering taking smaller volumes of bunker