Biofuels offer business opportunities worth Rs.1 lakh cr: Pradhan
The Dollar Business Bureau Petroleum and Natural Gas Minister Dharmendra Pradhan said on Wednesday that biofuels has the business potential worth Rs.1 lakh crore in the ‘waste-to-wealth’ sector, while adding that there are challenges in encouraging advanced biofuels. Pradhan also stressed on the importance of research for promoting the use of biofuels in the country. “While there are challenges in promoting advanced biofuels but it also offers business opportunities worth Rs.1 lakh crore in the ‘waste to wealth’ sector,” he said, while delivering the inaugural speech at the “EU-India Conference on Advanced Biofuels”, jointly organised by the Ministry of Petroleum and Natural Gas and European Commission’s Directorate-General for Energy. The Minister emphasised on the need for synergies to enable industrialisation of biofuels so that there are economies ...
Target to reduce energy imports by 10% by 2020: Pradhan
The Dollar Business Bureau The government said on Monday that the measures are being taken to increase the production of oil and gas in the country in order to cut crude oil imports, which makes up for about 82% of the overall domestic consumption this financial year. Petroleum Minister Dharmendra Pradhan said the target of the government is to cut the imports of energy by 10% by 2021-22. “To reduce imports to meet the energy needs, the government has taken several steps to enhance exploration and production of oil and gas in the country,” Pradhan told the Lok Sabha. In a written reply, the Minister said that in this fiscal till the month of January, the share of ...
India to come up with new National Energy Policy
The Dollar Business Bureau India is set to become the main driver of the global energy demand from 2020s and is in the middle of transformation mainly driven by the energy sector. In this regard, ‘What matters to India, will matter to the world and that’s the reason we are focusing on India in 2015,’ says Fatih Birol, Chief Economist, International Energy Agency (IEA). The IEA Chief Economist was addressing a workshop on ‘India Energy Outlook’, which was jointly organised by the IEA and National Institution for Transforming India (NITI) Aayog, with the support of The Energy and Resources Institute (TERI). In his address, the IEA economist said, ‘India needs $100 billion to meet its growing energy demand and ...
India plans to reduce LNG imports from Qatar
The Dollar Business Bureau Pitching for reduced dependence on energy imports, the Prime Minister of India, Narendra Modi on Friday said, ‘India should cut down the oil imports by 10% by 2020’. In line with the above statement, India is likely to cut down the contracted volumes of gas from a Qatar-based company RasGas Company Limited, by about 10%. Under the first Sales and Purchase Agreement (SPA) that was signed between India and Qatar in 1999, both the sides had agreed on reducing contracted volumes on acceptable terms. The reduction in import of gas is in view of the gas pricing in spot market which, has lowered by almost $6/BTU as compared to the pricing that is being followed ...
