Petroleum ministry warns against curbs on hydrocarbon investments

India should stick to its position that further investment in developing and extracting oil and gas resources is needed in tandem with the exploration of carbon-free alternatives at the upcoming global COP28 climate change summit in the UAE, Petroleum Ministry officials said. This stance has been part of the Ministry’s recommendations to inter-ministerial consultations on

IEA’s netzero roadmap highlights doubling energy efficiency

The updated Net Zero Roadmap from the International Energy Agency (IEA) underscores the urgency of this objective and highlights the need for governments to triple renewable energy capacity by 2030, gradually reduce fossil fuel usage, and double energy efficiency improvements. The IEA’s latest report reveals that while the path to achieving the 1.5 °C goal

IEA sees ammonia as alternative solution for shipping

The International Energy Agency (IEA) said in a 2023 update of its ‘Net Zero by 2050’ report that shipping will primarily turn to ammonia to decarbonise the sector. The ‘Net Zero by 2050: A Roadmap for the Global Energy Sector‘ report was published in 2021. It translated the goal of limiting global warming to 1.5°C

Lack of support threatens hydrogen sector: IEA

A lack of government policy support is threatening to derail the expansion of the low-emissions hydrogen production sector, according to an International Energy Agency report.  While the sector has grown in the past two years inflation, supply chain disruptions, and the high cost of capital are threatening the profitability of the sector, the report reads.

GBA gets more international support

The Global Biofuels Alliance (GBA), launched in New Delhi recently, has received support from International Energy Agency, the International Civil Aviation Organization, the World Economic Forum and the World Liquified Petroleum Gas Association. India’s Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said such support will “strengthen global biofuels trade and best practices, allowing

Indian Oil to invest $30 bn to achieve net-zero target

Indian Oil Corp plans to spend $30 billion to achieve its net-zero operational emissions target by 2046, the oil refiner’ chairman said. The company also announced an investment of Rs1 lakh crore ($12bn) to increase its refining capacity, already India’s largest, by a third. Under this plan, Indian Oil will have a refining capacity of

India needs to switch over to nuclear energy

What are India’s options for transition to net zero emissions (NZE) by 2070? A report by the Vivekananda International Foundation (VIF) Task Force addressed two questions. What is the minimum quantum of demand to reach net zero emissions? Second, what is the most cost-effective way of producing the minimum demand? Mathematical modelling by IIT Bombay

IEA recommends priority areas for Global Biofuel Alliance

The event in Goa, India, on 22 July was opened by India’s Minister for Petroleum and Natural Gas Hardeep Singh Puri. More than a dozen energy ministers participated, with representation from Argentina, Bangladesh, Brazil, Canada, India, Italy, Kenya, Mauritius, Paraguay, Seychelles, the United Arab Emirates, Uganda and the United States. The heads of nine international organizations also took part in the event.

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.

Clean energy investments increasing: IEA

The International Energy Agency (IEA) report found that investment in clean energy technologies is significantly outpacing spending on fossil fuels, and solar is set to eclipse oil production for the first time.