Hydrocarbon Industry

India growth, population to grow demand for carbon-intensive goods: Moody's

Moody's Ratings on Thursday said India has made rapid progress building its renewables capacity, but its fast-growing economy and expanding population will drive up carbon-intensive product demand. Moody's expects India to remain one of the fastest growing economies in the world with real GDP growing 7.2 per cent in 2024 and 6.6 per cent in 2025. The country is likely to sustain similarly high rates of growth over the next decade, it said. "With a rising population and industrialization, this will drive higher energy needs. Increasing household incomes will also bolster demand for energy-intensive products such as automobiles," Moody's Ratings said. India's share of global greenhouse gas (GHG) emissions increased to 7.5 per cent in 2022, from 6.7 per cent in 2019. The government's ability to attract private investment and address negative spillovers from decarbonization, including job losses in legacy industries, will determine whether India's credit exposure to carbon transition

Carbon market regulations expected in months as govt studies global models

Government officials are expected to set up regulations for the domestic carbon market in the coming months, having examined models in Europe and green-conscious countries, Dirk Forrister, President and CEO of International Emission Trading Association (IETA), said here on Wednesday. "We are waiting for details as to what the targets would look like, and what flexibility will be affordable," he told PTI in comments on the progress of India's carbon market development. Asked to estimate the Indian carbon market size, he said, "We can't estimate just yet because the details are still being produced by the Indian government. "On the demand side, the strength of the market is to be set by regulations. We don't know how tough they are but they will be coming out in the coming months and not years away." India has enormous power needs and interests in bringing existing infrastructure but it is also working to attract more investments in renewables and energy efficiency programmes, he not

Decarbonisation of fertiliser sector: India's 2070 'net zero' road map

Use of green hydrogen in the production of ammonia can be achieved by putting up grass-root green ammonia plants and scrapping of existing plants

India to sign MoU with Guyana to buy crude oil for a period of 5 years

The Union Cabinet on Friday approved signing of a 5-year memorandum of understanding with Guyana for cooperation in the hydrocarbon sector including sourcing of crude oil. "The proposed MoU covers the complete value chain of the hydrocarbon sector, including sourcing of crude oil from Guyana, participation of Indian companies in exploration and production (E&P) sector of Guyana, (and) cooperation in areas of crude oil refining," a government statement said. It also covers capacity building, strengthening bilateral trade, collaboration in the natural gas sector, collaboration in developing regulatory policy framework in the oil and gas sector in Guyana; cooperation in the area of clean energy including biofuels as well as renewables sector including solar energy. India, the world's third largest energy consumer and importer, is looking to diversify its sources of oil imports and the South American nation is one of the countries it is tapping for that. The MoU, which has been in ...

Oil India Ltd to invest Rs 25,000 crore in renewable energy by 2040

The company will invest in green hydrogen, solar, geothermal energy, 2G ethanol plant, compressed biogas plants, and carbon capture utilisation and storage (CCUS)

Govt undertaking energy transition to achieve Net Carbon Zero by 2070: Puri

Hardeep Singh Puri said the government is "acutely aware" of the need for a just and stable energy transition

IGGL completes Asia's largest underwater hydrocarbon pipeline: CEO

Asia's largest underwater hydro-carbon pipeline, below the river Brahmaputra connecting Jorhat and Majuli in Assam has been completed by the Indradhanush Gas Grid Limited (IGGL), the company's CEO Ajit Kumar Thakur said on Saturday. The challenging task of laying a 24-inch diameter hydrocarbon pipeline beneath the mighty Brahmaputra river by Horizontal Directional Drilling (HDD) method was completed on Friday, marking the completion of a major milestone in the construction of the North East Gas Grid (NEGG) connecting North East India to the National Gas Grid. The total length of the pipeline in this single HDD crossing is 4,080 metre across the main water channel of Brahmaputra river. This is the longest river crossing by any hydrocarbon pipeline of size 24-inch diameter and above in Asia and the second longest in the world, he claimed. This one of a kind HDD river crossing was executed by intersection method, where two HDD rigs simultaneously started drilling from the two sides of

Chennai-based Invenire Energy to invest $550 mn in hydrocarbons by 2026-27

Aims to increase output from 4,900 barrels of oil equivalent per day (boepd) to 35,000 boepd; is also lining up $500 mn for coal-bed methane block in MP, where it plans to drill 500 wells

CMAI inks pact with AREAS for exchange of knowledge on policy, innovation

The MoU aims to work towards a common goal of strengthening the country's journey towards becoming a carbon-neutral economy and aid in the development of the Indian carbon market

Composite materials domestic consumption to touch 7.68 LT by 2027: Report

The consumption of composite materials in India is expected to witness a sharp uptick and touch 7.68 lakh tonne (LT) by 2027, led by demand from sectors like renewable energy, electric vehicles, defence, among others, according to a report. Composite materials or fibre-reinforced plastics help in circular economy as these are manufactured by combining multiple materials with different properties. Examples of composite materials are polymer matrix, metal matrix, ceramic matrix composites and carbon matrix etc. "The Indian composites material industry is taking the consumption from 5,11,900 tonnes of composites materials in 2021 to 7,68,200 tonnes in 2027," FRP Institute said in its latest research. The composites materials market is also expected to grow at a CAGR of 6.9 per cent over the next five years to reach USD 2.01-billion in 2027 from USD 1.26 billion last year, the Chennai-based body said. The major growth drivers for the industry will be increasing demand from sectors lik

Amended Energy Conservation Bill seeks to build carbon credit market

Will also embrace green fuels, industrial energy efficiency

India bags ten bids for eight oil and gas blocks in latest bid round

Four companies, including 3 state-owned, put in 10 bids for the 8 oil and gas blocks on offer in India's latest round of bidding for exploration acreage, says the Directorate General of Hydrocarbons.

Essar jointly invests $300 million in Vietnam's offshore hydrocarbon block

This block is the largest hydrocarbon find in South East Asia spanning two decades and has approximately 2 billion barrels of oil and gas resource

RIL oil unit staff face big pay cuts; Ambani to forgo entire year's salary

His company will cut 10 per cent from hydrocarbons segment employees who earn above Rs 15 lakh per annum.

Why an obscure hydrocarbon may be carrying bad news for the global economy

That product is naphtha, something used to make a vast array of goods while also being integral to churning out gasoline

R S Sharma: For revival, keep controversies at bay

Politicisation of the issues plaguing the hydrocarbon industry in India will undermine the drive to cut import dependency in the oil and gas sector