House panel on power to discuss India’s nuclear mission
The parliamentary consultative committee on power, headed by Power Minister Manohar Lal, will discuss nuclear energy’s role in India’s net-zero journey. A presentation will highlight the country’s plan to increase nuclear power capacity to 100 GW by 2047 amidst public concerns about safety.
BEL approves fund raise of up to Rs 500 crore, led by Yash Kela led Singularity AMC
Singularity AMC will invest up to Rs500 crore in Bhilwara Energy Limited to create an integrated energy transition platform, HEG Greentech. This investment aims to support BEL’s growth in power assets, battery materials, recycling, and advanced battery systems for energy storage and EVs, enhancing India’s renewable energy efforts.
Fitch assigns Negative Outlook to Adani Energy, cites US probe risks
Fitch Ratings removed Adani Energy Solutions from its ‘Ratings Watch Negative’ list but assigned a Negative Outlook due to ongoing US investigations. These probes could uncover governance weaknesses affecting the company’s credit profile and future funding capacity, potentially impacting its capital expenditure plans.
Oilmax Energy announces Rs 450 crore investment in Assam’s energy and mineral sectors
Oilmax Energy announces a Rs 450 crore investment in Assam, focusing on the Tiphuk oil and gas field, quartz mining, and a compressed biogas plant. The investment includes partnerships with BCPL, Government of Assam, and AGCL, and aims to create approximately 300 local jobs.
ONGC’s OPaL exits from Dahej SEZ, eyes local market
ONGC PetroAdditions Ltd (OPaL) is set to exit the ‘only-for-export’ unit status by 2025 to focus on the domestic market, boosting its competitiveness and margins. The move aims to address financial challenges and leverage the lower corporate tax regime.
NHPC no less than East India Company, drain of wealth happening from J&K: Congress’ Tariq Hameed Karra
Jammu and Kashmir Congress president Tariq Hamid Karra criticized the NHPC for exploiting the state’s resources and taking unwarranted consultancy fees. He highlighted issues like biased promotions, vacant leadership positions, and non-local firms benefitting from mining auctions, likening NHPC to the exploitative East India Company.
JSW Energy completes KSK Mahanadi buyout ahead of May deadline
JSW Energy has successfully completed the acquisition of the 1800 MW KSK Mahanadi thermal power company by paying ₹16,084 crore to creditors ahead of the deadline. This acquisition is part of a broader strategy, marking JSW’s third significant power sector acquisition.
Oil ministry to pursue $2.81 billion demand from Reliance Industries, partners till end: Hardeep Singh Puri
Petroleum and Natural Gas Minister Hardeep Singh Puri stated that the ministry will persist in demanding USD 2.81 billion from Reliance Industries following the Delhi High Court’s decision on the gas migration issue. Reliance Industries plans to challenge the verdict in the Supreme Court.
Kearney’s Vikas Kaushal appointed HPCL chairman
Sanjeev Choudhary Kaushal, an accomplished private-sector executive, has been appointed to lead a state-run refiner, marking a significant government move in talent selection. Kaushal, a chemical engineering graduate with an MBA, faces the challenge of steering the company through a volatile energy environment and climate change pressures, despite taking an 80% pay cut.
Bharat Petroleum Corp plans to buy US oil via 4-mth tender: Source
Indian state refiner Bharat Petroleum Corp plans a 4-month tender next week to buy U.S. West Texas Intermediate crude. The tender seeks one million barrels of WTI per month from May or June. Last year, BPCL awarded a similar tender to BP. India’s imports of U.S. oil increased recently due to tighter U.S. sanctions on…
