Record production levels and forecasts of mild weather that are expected to reduce heating demand in early April led natural gas prices to fall -0.29% to 344.2. Gas storage levels are still 8% below seasonal norms, including inventory drawdowns due to severe cold in January. According to LSEG figures, average gas production in the Lower…
According to Kumar Mangalam Birla, chairman of the Aditya Birla Group, Hindalco plans to invest Rs 45,000 crore over the next three years in its copper, aluminum, and specialized alumina subsidiaries. The investment will be directed toward next-generation high-precision designed products and upstream operations. While speaking at the launch of its new corporate identity, Birla…
Natural gas prices rose 1.14% to ₹355.4 on the back of a decline in natural gas production and cold weather. The severe cold weather in January and February forced energy companies to remove large quantities of gas from storage, which is 12% below the average for this time of year. According to LSEG data, average…
The key role of renewable power The IREDA board has authorized the funding of Rs 5000 crore in one or more tranches through a QIP or placement of qualifying institutions. According to the exchanges’ filing, the board has determined that shareholder permission is required for fundraising, and government ownership cannot reduce the company’s post-issue paid-up…
On Wednesday, KPI Green Energy declared that, on its own, it has effectively achieved zero net debt status. “We are pleased to inform you that as of August 28, 2024, the company has successfully attained zero net debt status on a standalone basis,” the company stated in a regulatory statement. This accomplishment demonstrates our commitment…
JSW Neo Energy, a JSW Energy subsidiary, declared that it has obtained a letter of award (LoA) from NTPC to establish a 300 MW wind-solar hybrid power plant that is connected to the ISTS. The award is a component of the tariff-based competitive bid that was requested for the creation of 1,000 MW ISTS-connected Wind-Solar…
Manufacturer of steel tubes and pipes Hi-Tech Pipes received an order for ERW steel pipes worth Rs 105 crores from clients in the renewable energy industry. The company claims that within the next three months, its newly constructed, state-of-the-art facility in Sanand, Gujarat, with its enhanced technology, would help meet this demand. Solar power plants,…
Brent topped $ 72 a barrel for the first time since 2019 as it faced concerns about an overall COVID-19 vaccine release worldwide, such as OPEC + supply discipline and recovery in demand. The Organization of the Petroleum Exporting Countries and its allies said they would abide by the supply restrictions agreed on Tuesday. A…
The West Texas Intermediate gained another 1% on Wednesday, hovering above $ 68 a barrel after OPEC + doubled its decision to ease supply restrictions by July, on-demand. As WTI crude traded at its highest level since October 2018, energy stocks rallied with it. XLE Energy ETF added nearly 2%, pushing its two-day rally closer…
GECF firmly believes that natural gas, through its abundant, affordable, and clean hydrocarbons, plays a key role in energy conversion, while supporting progress in many sustainable development dimensions, including the protection of ecosystems, human health, and the economy. The Gas Exporting Countries (GECF), a government-coalition partnership of 19 of the world’s leading gas producers, represents…
