Higher crude demand supports India-bound Suezmax rates

Suezmax rates from the Mideast Gulf to the west coast of India have been rising on account of higher demand from Indian state-controlled refineries. Indian state-controlled refiners continued to operate at higher capacities this month in anticipation of an increase in fuel demand in 2022. “Indian charterers have been quite active over the past few

India set to be third-largest ethanol market by 2026

India is set to become the third-largest market for ethanol in the world after the US and Brazil by 2026, a recent report by the International Energy Agency (IEA) said, adding that the country has tripled ethanol demand to an estimated 3 billion litres between 2017 and 2021. Buoyed by India’s growing appetite, Asia is

India votes against UN draft resolution on climate change

India on Monday voted against a draft resolution at the United Nations Security Council (UNSC) linking climate to security, saying it was an attempt to shift climate talks from the United Nations Framework Convention on Climate Change (UNFCCC) to the Security Council and a “step backward” for collective action on the issue. The resolution was

India’s 40% power generation capacity now non-fossil based

India has achieved the target of 40 per cent of its installed electricity generation capacity being from non-fossil energy sources, an official statement said on Thursday. At the end of October this year, the Ministry of Power (MoP) reiterated India’s commitment to achieve more than 40 percent cumulative electric power installed capacity from non-fossil-fuel energy

India needs $10.1 trillion investment to achieve net-zero emission by 2070

India will require a total investment of $10.1 trillion to achieve net-zero emissions by 2070, while the nation could face a shortfall of $3.5 trillion, a study by CEEW Centre for Energy Finance (CEEW-CEF) said. At the recently concluded COP26, Prime Minister Narendra Modi announced India’s aim to achieve net-zero emissions by 2070. “India would

India major driver of fuel demand: Puri

Inviting global firms to invest in the opportunities in the country’s oil and gas sector, Union minister of petroleum and natural gas Hardeep Singh Puri said on Wednesday that the “real growth story as a critical driver of (fuel) demand will come from India”. Puri was speaking at the inauguration of the oil and gas