Page 4 - Energy

Avoid sectors having global exposure like IT, oil, gas: ICICI Securities

ICICI Securities Ltd on Wednesday said its one year forward Nifty target is 19,425 with sectorial bias towards banks, capital goods/infrastructure and automobiles

Nord Stream breaches reminder of vulnerabilities in undersea infrastructure

The greatest single release of potent greenhouse gas ever recorded was caused by four breaches of Russia's Nord Stream 1 and 2 gas pipelines, located near the territorial seas of Denmark and Sweden

Will weigh what Russia offers on Sakhalin-1 ownership revamp: Hardeep Puri

India maintains a "healthy dialogue" with Russia and will look at what is offered following announced ownership revamp to the Sakhalin-1 oil and gas project, Hardeep Singh Puri said

Carbon credits imperative for climate positive plans: EKI Energy Services

EKI Energy Services on Monday welcomed the government's stance on carbon credits and said that carbon credits and its trade is an imperative for climate positive plans. Union Minister for New and Renewable Energy R K Singh on October 6, said that the government is taking measures to make India a market for carbon credit which will be utilised to meet the country's NDC goals. India has submitted its updated Nationally Determined Contribution (NDC) under the Paris Agreement to the UN Framework Convention on Climate Change, emphasising that it is a step forward towards its long-term goal of reaching net zero by 2070. "We are happy to hear that this matter finally has greater clarity by the Minister himself. Carbon credits and its trade is an imperative and integral part of any climate positive plans given its capabilities to control GHG (greenhouse gas) emissions," said Manish Dabkara, CMD & CEO of EKI Energy Services Ltd. This clarification will enable the entire industry ecosystem .

Amid energy crisis, desperate Europeans return to firewood for warmth

Not far from Berlin's Nazi-era Tempelhof airport, Peter Engelke is putting up a new security gate at his warehouse because of concerns about desperate people pilfering his stock

Leaders of Spain, Germany discuss ongoing energy crisis before EU summit

The leaders of Spain and Germany held talks in Spain Wednesday, two days before both participate in an European Union summit to discuss Europe's energy crisis derived from Russia's invasion of Ukraine. Spanish Prime Minister Pedro Snchez hosted German Chancellor Olaf Scholz in the northwestern city of A Corua. The two centre-left leaders were accompanied by 15 ministers from their governments. The EU summit in Prague on Friday will likely include discussions on Germany's plan to subsidise gas prices for its consumers and businesses, a move that has raised questions from France and Italy. Snchez said that he empathises with Germany due to its pressing need to find alternatives to Russian gas and oil, while adding that the EU should find common solutions. Both Snchez and Scholz support reforming the EU's energy market. The consequences of the war in Ukraine impact us all, but clearly it has a greater impact on the countries with a higher dependency on Russian carbon-based fuels so w

EU ministers agree to include energy self-sufficiency in recovery plans

The Ministers of Finance and Economic Affairs of the EU member states, meeting in Luxembourg, agreed to include energy self-sufficiency in their national recovery and resilience plans

Jordan, Egypt agree to raise cooperation in mining, petrochemicals, energy

Jordan and Egypt have agreed to increase their exchange of expertise in the fields of mining, petrochemical industry, oil and natural gas, according to a statement by Jordan's Ministry of Energy

Germany to set up $196 billion stabilisation fund to fight energy crisis

Germany is putting up a "defensive umbrella" of up to 200 billion euros ($196 billion) to stabilise the country's economy during the energy crisis, Chancellor Olaf Scholz announced

Gas leaks from Russian pipelines to Europe raise sabotage fears: Report

But it remained far from clear who might be behind any foul play, if proven, on the Nord Stream pipelines that Russia with European partners spent billions of dollars building.

Energy, inflation crises risk pushing big economies into recession: OECD

In a bleak report titled Paying the price of war, the Paris-based organisation noted that the conflict aggravated inflationary pressure when the cost of living was already rising quickly.

UK businesses laud energy relief, but increase in costs still a struggle

At Sophia Sutton-Jones' bakery in North London, the electricity bill has more than tripled since the start of the year. It now costs 5,500 pounds (USD 6,260) a month to power the ovens and keep the lights on at Sourdough Sophia. Where should I magically take 4,000 pounds per month extra that I didn't calculate for? she said. To cope with rising costs, she's had to borrow 50,000 pounds and raise prices twice this year for her loaves, baguettes and pretzels. She doubts that even a massive support package announced this week by the UK government will make much difference to businesses like hers struggling with soaring energy costs. Pubs, restaurants, breweries, retailers and other businesses across the United Kingdom are being pushed to the brink by skyrocketing energy bills that have helped send inflation to a four-decade high and fuel a cost-of-living crisis. Forced to take action by cost increases that threaten to tip the British economy into recession, new Prime Minister Liz Trus

IISc, Shell India partner to promote R&D in energy and environment

Indian Institute of Science (IISc) and Shell India have entered into a partnership to promote research and development in the areas of energy and environment. The partnership seeks to build on cutting-edge energy and environment related research being carried out at the Interdisciplinary Centre for Energy Research (ICER), IISc, an IISc statement said. A research agreement was signed at the institute in the presence of IISc Director Prof Govindan Rangarajan and Chief Technology Officer at Shell, Yuri Sebregts, on Thursday. The key aspects that the partnership will focus on include reducing Green House Gas emissions and promoting decarbonisation through innovations such as low-carbon fuels, distributed electrification, carbon sinks, hydrogen generation, efficient power and refrigeration cycles using supercritical carbon dioxide. Structured research projects will be initiated under this research agreement involving Shell scientists as well as faculty members and students at the ...

Vladimir Putin is weaponising energy, alleges US after export cut threats

Russian President Vladimir Putin is weaponising energy, the White House has alleged, a day after he threatened to cut off all energy exports to the West if the US proceeded with its gas cap. Putin on Wednesday threatened to completely cut energy supplies to the West if it tries to cap prices of Russian exports. He also vowed to press on with Moscow's military action in Ukraine until it achieves its goals. This shows that Putin is, again, weaponising energy, by his very words, also by his actions. But the President (Joe Biden) and our partners in Europe predicted this playbook. We saw this coming, and we have been preparing for months. We have talked through the different processes of how this price cap could look, White House Press Secretary Karine Jean-Pierre said on Wednesday during her daily news conference. The US and European Union, she said, have set up a task force to work on ways to increase alternate sources of natural gas to Europe and help reduce Europe's demand for Russi

Germany heading for recession, warns Deutsche Bank CEO Christian Sewing

"The longer inflation remains high, the greater the strain and the higher the potential for social conflict," Sewing said.

Russia sends more energy to Asia as Europe cuts back, says report

Russia sent significantly more oil and coal to India and China over the summer compared with the start of the year, while European countries that long relied on Russian energy have cut back sharply in response to the war in Ukraine, said a report published Tuesday. The Centre for Research on Energy and Clean Air said Russia received about 158 billion euros ($158 billion) in revenue for the sale of oil, natural gas and coal from February to August, more than half of which some 85 billion euros worth was exported to the European Union. Within the EU, Germany was the biggest importer, buying 19 billion euros worth of fossil fuels from Russia during the six-month period. The single biggest importer worldwide, however, was China, which bought 35 billion euros worth of Russian energy, the Helsinki-based group said. While Russia's revenue rose, overall export volumes dropped by 18% compared with when the country invaded Ukraine, the report said. The EU has cut its imports from Russia b

IEX total trade volume dips annually by 18% to 7,805 mn units in August

The total trade volume of Indian Energy Exchange (IEX) registered an 18 per cent annual decline in August to 7,805 MU (million units). The total trade volume in August 2021 was at 9,538 MU, an IEX statement said. However, on a month-on-month basis, IEX registered a 9 per cent growth in August. In July 2021, the total power trade volume was 7,151 MU. The total trade volume of 7,805 MU in August, 2022, comprised 6,517 MU in the conventional power market, 437 MU in the Green Power Market, and 851 MU (8.51 lakh Certificates) in the REC Market, according to the statement. The average clearing price in the Day-Ahead market increased 2 per cent YoY (year-on-year), from Rs 5.06 per unit in August'21 to Rs 5.17 in August '22. The supply-side constraints continued due to high prices of imported coal, fuel shortage and increased e-auction prices, it said. The Day-Ahead Market volume at 3,529 MU, registered a flat growth on a month-on-month basis. Although imported coal prices remained high

New energy conundrum

It is not just a moral imperative, but a pre-requisite for a world that has a chance to keep the spiralling temperatures within check

No hot showers, street lights; here's how Europe is slashing energy use

As the Kremlin slashes gas deliveries and power-plant outages intensify a supply squeeze, Europe has little alternative but to curtail demand

Euro slumps to two-decade lows against dollar as energy crisis bites

China's yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020.