Minister of Petroleum & Natural Gas met Secretary General – OPEC, addressed the OPEC crude production cuts and its impact on global energy sector. Cumulatively, OPEC and OPEC+ have reduced the availability of oil by 4.96 mb/d (~5% of global oil demand) from the market since 2022, spiking brent prices from ~$72/bbl in June to ~$97/bbl in September 2023. On the sidelines of the annual Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023,on 3rd October 2023, Minister of Petroleum and Natural Gas and Housing, Shri Hardeep Singh Puri had bilateral discussion with Secretary General-OPEC, H.E. Mr. Haitham Al-Ghais. During the…
Author: Aruna Sharma
The Ministry of Coal has achieved a substantial surge in overall coal production during the month of September 2023, attaining 67.21million tonne (MT), production, surpassing the figures of 58.04 MT of the corresponding month in previous year, representing an increase of 15.81%. The production of Coal India Limited (CIL) has risen to 51.44 MT in the month of September 2023 as compared to 45.67 MT in September 2022 with the growth of 12.63%. The cumulative coal production (up to September 2023) has seen quantum jump to 428.25 MT in FY’ 23-24 as compared to 382.16 MT during the same period…
Shri K. P. Mahadevaswamy assumed the charge of Chairman & Managing Director of NBCC (India) Ltd., a distinguished Navratna CPSE w.e.f. from October 1, 2023. Prior to his appointment as CMD by Govt. of India, he held the charge of Director (Commercial), NBCC, his comprehensive portfolio included the execution of the Redevelopment of 7 GPRA Colonies, the Hon’ble Supreme Court Monitored “Amrapali Group Works,” Real Estate Division, Business Development Division, Central Procurement Division, Overseas works etc. He shall also hold the responsibility of Chairman, Hindustan Steelworks Construction Ltd. (HSCL) and HSCC (India) Limited, two subsidiaries of NBCC. His leadership at…
In a significant stride toward realizing India’s commitment to decarbonizing the steel sector, Union Minister of Steel and Civil Aviation, Sh. Jyotiraditya M. Scindia held a fruitful discussion on 28 September, 2023 with 5 out of the 13 task forces dedicated towards enabling the ecosystem for green steel in India. The meeting brought together key stakeholders, industry experts, and government officials, all deeply committed to India’s vision of achieving sustainability and decarbonisation in steel production. The meeting was attended by the Secretary of the Ministry of Steel, the Chairpersons of these Task Forces and other senior officials. In the discussion chaired by the Union…
(FE) The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the NPS Tier II Default Scheme exclusively for Government Sector subscribers. With this, the Government sector subscribers under NPS will be given an additional investment option of the Default Scheme along with the existing Scheme E/Scheme C/Scheme G investment options. The NPS Tier II Default Scheme is designed to offer flexibility and convenience, aligning with the unique requirements of the Subscribers under the Government sector. In a circular dated 22 September 2023, PFRDA said that the Government Sector Subscribers may continue with the Default Scheme under Tier II even after their…
(PTI) Union Power and New & Renewable Energy Minister R K Singh on Monday said India will achieve its 500 GW renewable energy target before the 2030 deadline. Addressing FICCI’s India Energy Transition Summit 2023, Singh also said had India not lost two years due to COVID-19, the nation would have achieved 50 per cent of its power generation capacity from RE non-fossil fuels, by now. India has 424 GW of power generation capacity which includes around 180 GW from non-fossil fuels and another 88 GW is in the works, the minister said.
(PTI) The newly-inducted C-295 medium tactical transport aircraft is likely to take part in the upcoming Air Force Day celebrations in Prayagraj in Uttar Pradesh, officials said on Monday. The annual Air Force Day parade and air display takes place on October 8. The first C295 aircraft was inducted into the IAF on Monday at the Hindon Air Force station in the presence of Defence Minister Rajnath Singh and Air Chief Marshal V R Chaudhari.
(PTI) The National Stock Exchange (NSE) is looking to increase trading hours in the equity derivatives segment in a phased manner, a move that will potentially curtail the overnight risk arising from global information flow, a senior official said on Monday. The bourse is planning a session from 6 pm to 9 pm after a break from the closure of the regular session from 9.15 am to 3.30 pm, Sriram Krishnan, Chief Business Development Officer of NSE, told PTI. Further, transactions in the evening session will be in effect included in the trading session on the next business day, he…
Prime Minister Shri Narendra Modi will visit Gujarat on 26-27th September, 2023. At around 10 AM on 27th September, Prime Minister will participate in a programme marking the celebration of 20 years of the Vibrant Gujarat Global Summit. After that, at around 12:45 PM, Prime Minister will reach Bodeli, Chhotaudepur, where he will dedicate to nation and lay the foundation stone of projects worth more than Rs 5200 crores. 20 Years of Vibrant Gujarat Global Summit Prime Minister will participate in a programme marking the celebration of 20 years of Vibrant Gujarat Global Summit at Science City, Ahmedabad. It will…
Reiterating Prime Minister’s vision that not only will green hydrogen be the basis of green growth through green jobs but it will also set an example for the world towards clean energy transition, “Addressing the nation from the ramparts of the historic Red Fort in Delhi, Hon’ble Prime Minister announced self-reliance in energy production through a mix of electric mobility, gas-based economy and taking Green Hydrogen on Mission mode,” said Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs Shri Hardeep Singh Puri, addressing on the occasion of flagging-off 1st Green Hydrogen Fuel Cell Bus from Kartavya Path,…