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Coal India powers up ₹25,000cr renewable empire

14Sep

By Newscript News NetworkNo Comments

Coal India powers up ₹25,000cr renewable empire

Executive Summary Coal India commits ₹25,000 crore ($3bn) to develop 4.5GW renewable capacity Partnership with AM Green for renewable ammonia production facilities Targeting 2,500-3,000 MW solar and 1,500-2,000 MW wind projects Strategy aims to future-proof 229,000-strong workforce MoU signed 7 May 2025, marking radical departure from fossil fuels At a windswept site in Rajasthan’s Thar desert, where Coal India once prospected for lignite deposits, engineers now measure wind speeds and solar irradiation levels. The scene captures the magnitude of change at the world’s largest coal producer. Coal India Limited has committed ₹25,000 crore ($3bn) to develop 4.5GW of renewable capacity, marking the state-owned miner’s most radical departure from its fossil...

GST Hike Squeezes Oil Explorers as Tax Burden Climbs to 18%

14Sep

By Newscript News NetworkNo Comments

News Bulletin, Newsletter, Oil & Gas Industry

GST Hike Squeezes Oil Explorers as Tax Burden Climbs to 18%

Executive note India’s oil exploration sector faces a punishing fiscal blow after the GST Council’s decision to raise service taxes from 12% to 18%. The September 2025 hike will saddle upstream companies with billions in additional costs, squeezing ONGC, Oil India, Vedanta and Reliance at a time when commodity price volatility and currency pressures already challenge project economics across the energy sector. India’s upstream oil and gas industry has absorbed a significant fiscal shock following the Goods and Services Tax (GST) Council’s decision to increase rates on exploration and production services. The tax rate climbs to 18% from 12%, effective September 22, 2025, covering petroleum exploration, mining, drilling, and related support activities across the sector. Indu...

Oil Market Pressures, Weakening Rupee Pose Critical Threats on Indian Energy Giants

14Sep

By Pallab BhattacharyaNo Comments

News Bulletin, Newsletter

Oil Market Pressures, Weakening Rupee Pose Critical Threats on Indian Energy Giants

Executive summery Brent crude slides to mid-$60s as OPEC+ discipline fragments EIA forecasts sub-$60/barrel pricing for Q4 2025 Indian upstream producers face margin compression amid deep-water capex cycles Downstream players navigate inventory volatility with mixed results Rupee weakness near ₹88/$ amplifies import-export complexities Energy sector braces for fundamental recalibration Oil markets have entered turbulent waters, with Brent crude hovering around $67 per barrel as producer discipline fragments across OPEC+ nations. The cartel’s decision to unwind production cuts has coincided with softening global demand, prompting the US Energy Information Administration to forecast Brent averaging below $60 per barrel in the fourth quarter—the lowest quarterly a...

13Sep

By Newscript News NetworkNo Comments

News Bulletin

ONGC Leans on BP to Unlock Gas Reserves

ONGC confirmed in September its engagement of BP technical specialists to accelerate Krishna-Godavari basin development. The partnership addresses persistent challenges in India’s most promising offshore region, where complex deepwater reservoirs have frustrated domestic expertise. Production delays have broader implications for India’s energy security. Domestic crude output declined to 20.7mn tonnes in FY2024 from 25mn tonnes a decade earlier, while natural gas production stagnates despite growing demand. Import bills exceed $175bn annually for crude oil alone. BP’s involvement brings North Sea and Gulf of Mexico experience to deepwater drilling and reservoir management. The collaboration follows similar arrangements with ExxonMobil and other international majors as ONGC acknowledge...

12Sep

By Newscript News NetworkNo Comments

News Update

Daily Energy News Updates

1. India Fast-tracks Hydrogen in Industrial Transition India’s green hydrogen ambitions moved beyond policy rhetoric in 2025. The government’s ₹19,744 crore National Green Hydrogen Mission aims for 5mn tonnes annual production by 2030, with initial facilities taking shape in Gujarat’s industrial belt, Odisha’s port complexes and Tamil Nadu’s renewable corridors. Production costs remain challenging at $3-5 per kilogram, well above the $1 threshold needed for commercial viability against fossil alternatives. However, manufacturers are banking on scale economics and improved electrolyser technology to bridge this gap within five years. Industrial buyers face mounting pressure from global supply chains demanding carbon-neutral inputs. Fertiliser producers, oil refineries and steel mills—sec...

ONGC JOINED HANDS WITH TATA POWER RENEWABLES TO DEVELOP BATTERY STORAGE

2Sep

By Newscript News NetworkNo Comments

Oil & Gas Industry

ONGC JOINED HANDS WITH TATA POWER RENEWABLES TO DEVELOP BATTERY STORAGE

Tata Power Renewable Energy and Oil and Natural Gas Corporation have joined forces to develop large-scale battery storage, marking a decisive step by India’s biggest oil producer into clean energy. The agreement was signed at India Energy Week in February, as ONGC faces growing pressure to reduce dependence on fossil fuels. Chairman Arun Kumar Singh said energy storage was vital to stabilise the grid as more solar and wind capacity comes online. ONGC has set a goal of 10GW of renewable power by 2030 and pledged net zero emissions by 2038. Tata Power adds operational know-how. It runs India’s largest solar-battery plant, a 100MW facility with 120MWh of storage in Chhattisgarh. Chief executive Deepesh Nanda said the partnership would scale solutions across utilities, industrial consume...

Gas and aviation fuel tax reform tests GST Council’s resolve

1Sep

By Pallab BhattacharyaNo Comments

Oil & Gas Industry

Gas and aviation fuel tax reform tests GST Council’s resolve

Fiscal pressures and rising energy import dependence add urgency to long-standing reform debate. India’s GST Council convenes next week facing pressure to bring natural gas and aviation turbine fuel under its tax net — a decision that could reshape two critical sectors and offer relief from mounting fiscal pressures. The September 3-4 meeting will examine whether to end the anomalous treatment of both fuels, which remain outside the goods and services tax framework. Currently subject to a patchwork of state VAT and central excise duties, the arrangement has created what industry executives describe as a compliance nightmare. The timing couldn’t be more awkward. India’s energy import bill has climbed above $170bn annually with little sign of abating. With crude oil imports accounti...

31Aug

By Newscript News NetworkNo Comments

Oil & Gas Industry

ONGC Fights the Crude Reality Check

ONGC’s latest results presented a mixed picture for investors. Standalone net profit fell 10.2% to ₹8,024 crore in the June quarter, reflecting weaker crude prices that dropped from $83.05 to $66.13 per barrel year-on-year. Revenues from oil declined, and earnings per share at ₹6.38 came in below analyst expectations. The consolidated numbers told a different story. Net profit across the group rose 18.2% to ₹11,552 crore, supported by stronger natural gas realisations and incremental output from new wells, particularly offshore. Higher government-administered gas prices boosted revenues, partly offsetting the crude decline. Shareholders reacted positively despite the headline fall. ONGC’s stock rose 1.27%, suggesting confidence in the company’s long-term production strategy. The ...

ONGC Begins Gas Sales from Chinnewala Tibba Field

27Aug

By Pallab BhattacharyaNo Comments

Oil & Gas Industry

ONGC Begins Gas Sales from Chinnewala Tibba Field

Oil and Natural Gas Corporation (ONGC) commenced natural gas sales from the Chinnewala Tibba field in Rajasthan on August 25, 2025, according to company statements. Newscript is founded by a retired executive director of ONGC. The state-owned company began supplying 1.0 lakh standard cubic meters of gas per day to Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) at Ramgarh through ONGC’s Gamnewala Gas Collection Station. The Chinnewala Tibba block covers 73 square kilometers in western Rajasthan near the Indo-Pakistan border under the Rajasthan Kutch Onland Exploratory Asset (RKOEA). The field was developed under the Discovered Small Field (DSF-II) framework. ONGC Director (Strategy & Corporate Affairs) Arunangshu Sarkar and Director (Exploration) Om Prakash Sinha atte...

India’s Offshore Gamble: ONGC, Reliance and BP Unite in Saurashtra

25Aug

By Pallab BhattacharyaNo Comments

Oil & Gas Industry

India’s Offshore Gamble: ONGC, Reliance and BP Unite in Saurashtra

India’s growing dependence on imported crude oil has become a defining challenge for its economy. The country now imports nearly 85% of its oil requirements, creating a $220bn annual burden. Against this backdrop, three very different players — ONGC (Oil and Natural Gas Corporation), Reliance Industries Ltd (RIL) and BP Exploration — have joined forces in a new consortium to explore the Saurashtra basin offshore block. The partnership, under the government’s Open Acreage Licensing Policy (OALP-IX), will focus on Block GS-OSHP-2022/2 off the coast of Gujarat. ONGC will serve as the operator with a 40 per cent stake, while Reliance and BP each hold 30 per cent. The project has been billed by the Ministry of Petroleum as a strategic collaboration to enhance India’s energy security. Join...