No change in petrol & diesel rates unless global crude prices fall

12 Jun 2024 CW Team

Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, stated that there will be no immediate reduction in petrol and diesel prices unless global crude oil prices drop below the $70-80 per barrel range. Speaking on the government's broader strategy for the petroleum sector, Puri emphasised that any plans to lower petrol and diesel prices would only be reconsidered in the event of a significant decrease in global crude prices.

Additionally, Puri mentioned an upcoming policy shift aimed at including petrol and diesel under the GST regime. This initiative seeks to standardise fuel prices across states, potentially bringing stability to the retail oil market.

Regarding the fiscal stance on state-owned enterprises, Puri expressed reluctance towards divesting government stakes in state-run oil companies, citing the success of entities like BPCL.

Amidst these fiscal considerations, Puri provided updates on India's energy production endeavours. The Oil and Natural Gas Corporation (ONGC) is set to commence gas production from the KG-DWN-98/2 block in the Krishna-Godavari basin, marking a significant milestone in boosting domestic energy resources. ONGC is also exploring international partnerships through a global tender to enhance technological capabilities in its western offshore operations.

Puri reaffirmed the ministry's target of achieving a 25% ethanol blending rate by 2025, aligning with global environmental objectives and strengthening the sustainability of India?s energy consumption. Discussions with Russia on securing long-term oil supply agreements were also mentioned as part of efforts to stabilise India?s energy imports amid volatile global markets. (Source: ET Energy)

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..