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

Energy transition to curb oil demand growth

Global oil demand will grow by 2.4 million barrels per day (bpd) in 2023 to a record 102.3 million bpd, the IEA said in its monthly report.

Oil demand may take a dip in transport sector by 2050

According to DNV’s latest Transport in Transition report, electricity’s share in transport will grow from the existing 1% to 23% in 2050. The report draws on DNV’s system dynamics-based Energy Transition Outlook model and explores the vast changes in fuels, electricity and infrastructure needed to transport ever-larger numbers of people and volumes of freight while

UMAS report details green priorities for shipping

UMAS, a commercial advisory service affiliated with the UCL Energy Institute at University College London, has issued a report looking at the ways in which a 1.5ºC-aligned pathway could be achieved, providing some scenarios for the respective role of fuel substitution and energy efficiency in meeting 2030 reduction targets. The International Maritime Organization’s greenhouse gas

Power generation capacity should surge to double to meet climate goals

The share of clean sources in India’s power generation capacity should surge to 90% by 2047 — more than double from now — for the nation to meet its climate goals, Power Secretary Alok Kumar said. The country will need to reduce the share of coal, which currently accounts for about half of its installed

India needs $900 bn for just energy transition

India needs an estimated $900 billion for a just energy transition vis-a-vis coal mines and thermal power plants over the next 30 years, a report of independent non-profit environmental research and innovation organisation International Forum for Environment, Sustainability & Technology (iFOREST) has said. India has set goals of net zero emissions by 2070 and energy

Port of Argentia to support US energy transition

Newfoundland’s Port of Argentia has secured its second major contract in support of US offshore wind development. The port will serve as a marshalling yard for monopiles that are to be installed at project fields off the East Coast of the US. Monopiles will be transported from the port dock to a bonded storage marshalling

Fortescue expects renewables to play major role

Fortescue, one of the five largest iron producers in the world, expects renewables to play a very big part of our overall earnings in the future. Speaking at the World Economic Forum in Switzerland, former Fortescue chief executive officer Elizabeth Gaines said the company would continue building its iron ore business, but the scale of

Leading companies from EU ask for future fuels’ clarity

Leading companies from across Europe’s fuel production chain have joined with NGOs to press the European Union’s legislators to provide the clarity and certainty they need to make long term investments in the renewable fuels required for the clean energy transition. In a letter to the EU Council, Parliament and Commission, 47 entities, representing the

Can green hydrogen offer cost competitive replacement?

Fossil fuels consumption for energy has been significantly increasing over the last fifty years across the world. In spite of the recent escalating gas and oil prices due to Russia-Ukraine conflict, the demand for these fuels is not dying down. However, keeping in mind the evil effects of the fossil fuels on the climate conditions,