Page 4 - Energy Sector

Economic recovery hampered as inflation hits new highs in US, Europe

Inflation has reached new highs in the United States and Europe as rising energy prices and supply bottlenecks restrain an economic recovery from the pandemic in both economies

Asian LNG prices surge to record high this week as winter starts

The average LNG price for November delivery into Northeast Asia was estimated at about $32 per metric million British thermal units (mmBtu)

Global energy crunch: China expands power curbs to 20 provinces

At least 20 Chinese provinces and regions making up more than 66 per cent of the country's gross domestic product have announced some form of power cuts, mostly targeted at heavy industrial users

Oil will be world's No. 1 energy source for decades, says OPEC

OPEC says that more electric vehicles on the road and the push for alternative and renewable energy will indeed usher in an era of declining demand for oil in rich countries

Pakistan's dependence on natural gas is turning into a nightmare

Pakistan does get more than half its LNG under long-term contracts, which provides some protection against the volatile spot market

Global energy crunch: Oil prices soar above $80 for first time in 3 years

Natural gas and coal prices rally to record peaks as traders brace for winter crunch

China energy crunch triggers shutdowns, pleas for more coal

For the second straight day, the main state grid operator sought to reassure customers, saying it would work to guarantee coal supply

Europe's energy crisis is coming for the rest of the world, too

Millions around the globe will feel the impact of soaring natural gas prices this winter

Europe's energy woes hit fertilizers in another threat to food

Higher costs of the key farming input risk further exacerbating global food inflation at a time when hunger is on the rise.

Energy, financials help Wall Street rise from bruising week; Dow up 270 pts

Biden corporate tax hike in focus; S&P energy sector jumps 3.3%

Wärtsilä looks to invest in hydrogen engines, energy storage in India

In India since the 1980s, Wärtsilä has delivered 250 power plants with a total output of 3,500 Mw. It also operates and manages 35 power plants with a total output of over 1,300 Mw

Petroleum Minister Puri to meet Russian counterpart in Vladivostok

India-Russia to review and examine expanding bilateral energy cooperation in energy sector

Satyendar Jain inaugurates 10 MW battery energy storage system

Delhi Power Minister Satyendar Jain on Sunday inaugurated a 10 MW battery energy storage system here which he claimed to be the largest in South Asia

India and Russia discuss expanding cooperation in energy sector

India and Russia on Friday discussed expanding cooperation in the energy sector as New Delhi looks at newer sources of oil and natural gas to diversify its import basket. Oil Minister Hardeep Singh Puri held a video interaction with Russian Energy Minister Nikolay Shulginov on furthering energy cooperation between the two nations, the Indian minister tweeted. India's cumulative investment in oil and gas projects in Russia exceeds USD 15 billion. It is the single largest destination of Indian overseas investment in the oil and gas sector. Russian oil giant Rosneft and its partner in 2017 bought Essar Oil, renamed Nayara Energy, for USD 12.9 billion. "Had an engaging video interaction with HE Mr Nikolay Shulginov, Minister of Energy of the Russian Federation @MinenergoGov. Discussed ways to further expand bilateral energy cooperation, a key pillar of bilateral Special & Privileged Strategic partnership," Puri tweeted. Russia, he said, is the largest investor in India's energy sector

Augment Infrastructure acquires majority stake in CleanMax for Rs 1,650 cr

The company said Augment is purchasing the existing stake of Yellow Bell Investment Ltd and International Finance Corporation (IFC) in CleanMax

Energy-starved Bangladesh discovers new gas field worth over $148 mn

Bangladesh has announced to have discovered a new gas field containing a probable reserve of about 68 billion cubic feet worth over $148 million

JSW Energy first quarter net profit declines 6% to Rs 201 crore

JSW Energy on Friday reported 5.6 per cent decline in consolidated net profit at Rs 201 crore for June quarter 2021-22. "On a comparable basis, adjusting for one-time finance charges, Profit After Tax (PAT) stood at Rs 261 crore (in April-June 2021) compared to reported PAT of Rs 213 crore, in corresponding quarter of previous year. Reported PAT for the quarter stood at Rs 201 crore," a company statement said. During the quarter, total revenue stood at Rs 1,860 crore as against Rs 1,887 crore in April-June 2020-21, primarily due to reduction attributable to the impact of job work at the standalone entity, partly offset by increase in long-term sales and other income. The fuel cost in the quarter fell 11 per cent YoY (year-on-year) to Rs 812 crore, primarily attributable to impact of job work at standalone entity, partly offset by increase in long-term sales at standalone entity as well higher coal prices. Reported Finance cost during the quarter increased 21 per cent YoY to Rs 290

Cairn Energy arbitration case: Riders to invoking 'sovereign immunity'

Earlier this month, a French court permitted Cairn Energy to freeze several India-owned assets in Paris for executing the $1.2-billion international arbitral award in the decade-long tax dispute

Reliance's O2C, new energy biz may be valued more than $100 bn: Report

Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of USD 36 billion for the new energy business

Why switching over to laggards may prove rewarding in stock market

FMCG, Pharma and Energy are sectors that have delivered lower returns than benchmark indices in the past year