Page 6 - Energy Sector

India inks MoU with IEA for global energy security, sustainability

India on Wednesday inked a strategic partnership agreement with the International Energy Agency (IEA) to strengthen cooperation in global energy security, stability and sustainability. This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of IEA, a power ministry statement said. "The Framework for Strategic Partnership between the IEA members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability," it said. The Memorandum of Understanding (MoU) was signed by Power Secretary Sanjiv Nandan Sahai and IEA Executive Director Fatih Birol. "The contents of the strategic partnership will be jointly decided by IEA members and India, including a phased increase in benefits and responsibilities for India as an IEA strategic partner, and building on existing areas of work within Association and the Clean .

GE alleges Siemens Energy used stolen trade secrets to rig contract bids

The litigation is the latest legal battle involving the corporate rivals, which have squared off in lawsuits over patent infringement as recently as last year

Ex-Google exec Arun Majumdar top pick to be Biden's energy secretary

The Energy Department has a budget of about $35 billion and a disparate mission that includes helping to build the nation's nuclear warheads, maintaining its emergency stockpile of oil

BP to Rosneft: Energy companies' CEOs tell their India plan to PM Modi

Global energy bigwigs appear bullish about India's economy in their video interaction with the Prime Minister

BP wants bigger pie of India fuel market, bats for natural gas under GST

Firm to create 80,000 jobs by increasing fuel retail outlets, along with Reliance, to 5,500 in 4-5 yrs

India's bid to raise natural gas share in energy basket faces hurdle

Varying taxation rate with no input credit pass-through coming in the way

Modi discusses post-pandemic world order for energy sector with top CEOs

The fourth annual meeting deliberated on demand scenario as well as ways to revive investment, particularly in oil and gas exploration and production, official sources said

India's energy plan aims to improve lives with less carbon footprint: PM

The world's third biggest oil importer has implemented a series of reforms in recent years, including setting up a gas trading exchange and granting marketing freedom to producers, to boost its local

India will drive the global energy demand, says PM Narendra Modi

India, he said, was on track to meet its COP21 commitment of raising electricity generation from renewable energy sources to 175 gigawatts by 2022

Likhitha Infrastructure IPO sails through after tweaks to structure

Garners 9.5x subscription; offer was to close Thursday but was extended due to shortfall in bids from QIBs even as retail portion saw strong demand

Siemens energy shares recover after initial slump on Frankfurt debut

Siemens intends to keep a blocking minority stake of the business of around 25% for the next five years after its initial sale of shares over the next 18 months

Ind-Ra maintains negative outlook on transport, energy infra for H2 of FY21

It said toll collections rebound was strong at around 90 per cent of pre-Covid-19 levels in the first 15 days of September 2020, exceeding Ind-Ra's April 2020 expectations

What Saudi Aramco's cut in capex could mean for mega deals in India

The oil producer is a JV partner with Indian state-run oil refiners to set up a mega refinery, and also plans to pick a stake in RIL's O2C business

India, Nepal to expand energy cooperation, explore new pipeline

The atmosphere of mistrust between India and Nepal over border issues has not impacted energy sector cooperation between the two countries

RIL's pre-tax profit dips 40% as Covid-19 hits energy, retail businesses

Net profit surges 31%, boosted by exceptional gain of Rs 4,966 crore from BP transaction

India Inc's deal activity at a 6-year low amid Covid-19 pandemic

Last year, India Inc sealed deals worth $88.88 billion in the January-July period, but this year the total transactions are $56.73 billion, fueled mainly by RIL-Jio deals

Oil major Chevron to buy Noble Energy in $5 billion all-stock deal

The offer values Noble at $10.38 a share or 0.1191 Chevron share, a 7.5% premium to Noble's Friday close. The deal would value Noble at roughly $13 billion, including debt

India in talks to store crude in US strategic petroleum reserves: Pradhan

Dharmendra Pradhan said the two nations have signed a memorandum of understanding to begin co-operation on strategic petroleum reserves

The fuel cash cow

Govt must ensure greater transparency in fuel pricing

FM's economic vaccine: Final tranche is high on reforms, low on stimulus

State borrowing limit raised to 5%, but conditions apply