EIA
Oil prices up 1% after Trump says India promised to stop buying Russian oil
Oil prices experienced a notable rise following remarks from President Trump, who announced Indian Prime Minister Modi's commitment to ceasing oil imports from Russia. This pivotal decision is poised to shake up global oil dynamics. Market watchers are now on alert for upcoming US inventory data to guide their next steps, especially after a recent slew of mixed inventory outcomes.
ONGC braces for $60 crude, eyes Rs 5,000 cr in cost savings by FY27
India's ONGC is implementing a comprehensive cost-cutting strategy to achieve ₹5,000 crore in savings by 2026-27, preparing for a potential lower oil price cycle. The company is optimizing supply chains, fuel use, and logistics, including reducing inventories and centralizing procurement, to safeguard investor returns amidst falling crude oil prices.
Oil rises on fading oversupply fear after OPEC+ restrains output increase
Oil prices saw a slight uptick as markets momentarily overlooked oversupply concerns following OPEC+'s decision to limit November production increases. Brent crude and WTI futures experienced modest gains. Analysts suggest that until physical market signs of softening emerge, investors will likely discount the impact of production hikes, with fears of Russian supply disruptions also easing.
SC commences hearing pleas seeking review, modification of May 16 verdict on grant of EC to projects
The Supreme Court began hearing 40 petitions challenging its May 16 verdict that outlawed retrospective environmental clearances for projects violating norms. Developers argue the ruling mandates demolition, ignoring the government's power to grant such clearances with penalties. The court is reviewing the judgment, which emphasized the fundamental right to a pollution-free atmosphere.
‘Who invites him is a mystery’: BJP’s Sudhanshu Trivedi questions Rahul Gandhi’s foreign lectures
BJP leader Sudhanshu Trivedi questioned why Rahul Gandhi is invited to foreign universities to criticize the government, while not being invited to speak at Indian institutions. Gandhi's recent remarks at EIA University in Colombia, where he criticized India's democracy, prompted Trivedi's comments. Trivedi also condemned an attempt to attack CJI BR Gavai in the Supreme Court.
ONGC to invest Rs 8,110 cr to develop 172 onshore wells in Andhra, gets ‘green nod' from EAC
ONGC will invest Rs 8,110 crore for oil and gas development. This project covers 172 wells in eight blocks in Andhra Pradesh. An expert committee recommended environmental clearance for the plan. ONGC will follow all environmental protection measures. No wells will be set up near Coringa Wildlife Sanctuary. This ensures ecological safety.
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Harley-Davidson, Toyota engineers must be beating their chests: BJP on Rahul's car-bike analogy
The BJP criticized Congress leader Rahul Gandhi's "amazing engineering gyan" after he used a car and bike engine analogy to explain decentralization of power. Gandhi suggested a car's weight is due to its engine needing protection, unlike a motorcycle's, linking this to electric motors decentralizing power.
From Colombia, Rahul Gandhi hails Bajaj, Hero, TVS as proof Indian companies thrive on innovation not cronyism
During his Colombia visit, Rahul Gandhi praised Indian two-wheeler companies Bajaj, Hero, and TVS for their success, attributing it to innovation over cronyism. He later warned that an "attack on democracy" poses India's biggest risk, stressing the importance of a democratic system to accommodate the nation's diverse traditions and languages.
BJP slams Rahul Gandhi for using foreign soil to malign India
Telangana BJP strongly condemned Rahul Gandhi for his foreign remarks. The party stated he maligned India and its institutions abroad. BJP spokesperson N V Subash criticized Gandhi's comments on democracy. He also mentioned Sam Pitroda's controversial statements. Subash questioned Gandhi's vote theft allegations against the Election Commission. He urged Gandhi to prioritize national interests.
Democracy under attack in India: Rahul Gandhi in Colombia
Rahul Gandhi, addressing students in Colombia, criticized the Indian government, alleging an "attack on democracy" and highlighting "structural flaws" hindering the nation's diverse traditions. He also targeted RSS ideology and discussed global economic power shifts. The BJP swiftly condemned his remarks, accusing him of making baseless claims abroad while complaining about lack of freedom of speech in India.
Democracy under attack in India, says Rahul Gandhi in Colombia
Rahul Gandhi, speaking at Columbia University, said India’s biggest challenge is the “attack on democracy,” pointing to structural flaws in the system and stressing the need to protect the country’s diverse religions, languages, and traditions.
'Cowardice at heart of RSS-BJP ideology,' says Rahul Gandhi in Colombia
Gandhi further took a swipe at the Narendra Modi government, asserting that the biggest challenge India is witnessing is the attack on its democracy. He highlighted the issue of "structural flaws" and suggested that the country's diverse traditions must be allowed to thrive.
Oil little changed as demand concerns overshadow US rate cut buoyancy
Oil prices experienced minimal movement on Friday following a previous decline, influenced by the U.S. Federal Reserve's interest rate cut and concerns about fuel demand in the United States. Rising U.S. distillate stockpiles and a strengthening dollar further weighed on prices, while economic data indicated a softening U.S. labor market.
Oil prices flat amid weak US demand, softening economy
Oil prices remained stable on Thursday after a previous surge, influenced by both geopolitical tensions and economic factors. Attacks in the Middle East and the Ukraine war initially boosted prices, but concerns about weak U.S. demand and ample oil supplies tempered the gains. Rising U.S.
BPCL's Rs 1 lakh crore refinery complex project in Andhra get EAC nod to prepare ToR
Ministry of Environment has granted BPCL permission to outline terms for its proposed 9 MMTPA Greenfield Refinery and Petrochemical Complex in Andhra Pradesh. The Rs 1.03 lakh crore project, set for completion in 42 months, will be located in Sri Potti Sriramulu Nellore District.
We urge govt of India to come forward to assist flood-affected J-K: CPI(M) MLA Tarigami
CPI(M) leader M Y Tarigami urged the Centre to provide financial assistance to the J&K government for flood relief and rehabilitation, highlighting the devastating impact of recent floods and the need for environmental impact assessments. He emphasized the necessity of a Climate Disaster Relief Fund and ecological dredging of the Jhelum River to prevent future flooding.
Oil prices ease on surprise build in US crude stockpiles, OPEC+ to consider output hike
Oil prices dipped about 1% to a two-week low due to a surprise increase in U.S. crude inventories and expectations that OPEC+ may raise output targets. Weak U.S. economic data also fueled speculation of a Federal Reserve interest rate cut.
Oil prices extend losses on OPEC+ considers another output hike
Oil prices decreased on Thursday. Investors are waiting for the OPEC+ meeting this weekend. Producers will consider increasing output targets. Brent crude and U.S. West Texas Intermediate crude both fell. OPEC+ may raise production in October. The group seeks to regain market share. U.S. crude stocks rose last week, according to the American Petroleum Institute.
Oil prices set to snap two-week losing streak as peace in Ukraine remains elusive
Oil prices experienced minimal fluctuations on Friday, poised to end a two-week losing streak as hopes for a swift resolution between Russia and Ukraine diminished. The ongoing conflict, marked by recent attacks and stalled peace talks, has increased risk premiums. Prices were further bolstered by a significant drawdown in U.S. crude stockpiles, signaling robust demand.
Oil prices gain as US inventory withdrawals point to strong demand
Oil prices experienced a slight increase due to a larger-than-expected decline in U.S. crude oil and fuel inventories, signaling strong demand. Despite this positive sentiment, concerns persist as negotiations to resolve the Russia-Ukraine conflict remain ongoing, potentially impacting Russian oil supplies and leading to further sanctions.
Crude imports slip as demand stagnates, raising concerns for global markets
India's crude oil imports are declining due to stagnant demand both domestically and internationally. This raises concerns about India's role as a key driver of global oil demand. Crude imports fell by 0.6% from April to July. Product imports also experienced a decrease of 1.5%. Weak domestic fuel consumption is contributing to this slowdown.
Faster approvals for critical minerals, but no green law exemption: Centre
The Environment Ministry has created a new category on its online portal. This will expedite clearances for mining projects involving critical minerals. The goal is to boost domestic supply. These minerals are essential for clean energy and advanced technologies. The Mines Ministry requested faster clearances in February. 34 blocks of these minerals have been auctioned across India.
Oil regains ground from 2-month lows ahead of Trump-Putin meeting
Oil prices rebounded slightly on Thursday, influenced by the upcoming Trump-Putin meeting and its potential impact on Russian oil flows. Anticipation of a U.S. Federal Reserve rate cut in September, spurred by moderate inflation, also supported prices. However, gains were limited by unexpected U.S. crude inventory increases and forecasts of rising global oil supply in the coming years.
Probe link between Noida officials and landowners, says SC
The Supreme Court has mandated a preliminary investigation into potential collusion between Noida officials and landowners concerning land acquisition payouts. This action follows a resumed hearing regarding inflated compensation to ineligible landowners. A special investigation team (SIT) consisting of three IPS officers will probe irregularities, examining financial trails and asset acquisitions to ascertain any collusion.
Oil prices little changed as industry report points to slowing US demand
Oil prices showed minimal movement on Wednesday, following a decline triggered by a U.S. crude stockpile increase, signaling the approaching end of peak summer demand. Brent crude saw a slight gain, while U.S. West Texas Intermediate futures dipped marginally. Increased production forecasts from OPEC and the EIA also weighed on prices, despite expectations of declining U.S. output in 2026.
Ethanol has become pricier than petrol: Oil ministry
The oil ministry has rejected calls to lower the price of ethanol-blended petrol, stating that ethanol's procurement cost is now higher than petrol. While ethanol has lower energy content, potentially reducing fuel economy, the ministry argues that efficiency drops are marginal, especially in vehicles designed for ethanol blends.
Giving "thoughtful consideration" to HC view to translate draft EIA in 22 languages: Centre
The high court on February 25 had observed that its view that the draft EIA be translated in all 22 languages should not be taken so "combatively" by the central government.
Draft EIA notification doesn't give exemptions from public consultations to industries: Ministry
In a separate reply, Supriyo also rebutted the objections raised by the United Nations' Special Rapporteur, an independent expert appointed by the Human Rights Council to examine and report back on a country situation or a specific human rights theme, against the draft EIA.
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