Carrier is the latest multinational company to sue India for electronic waste regulations
The Indian unit for the U.S. Air Conditioning giant Carrier is the latest large firm to file a lawsuit against Prime Minister Narendra Modi over the electronic waste regulations that have increased the fees manufacturers are required to pay to recyclers. The High Court of Delhi will hear the cases of Tata Voltas, Daikin of Japan and Samsung Electronics of South Korea on Tuesday. The companies all want the rules to be thrown out. India's government claims that only 43% (of the country's electronic waste) was recycled last year.
Why is the India-US trade deal being held up by farm products?
U.S.-India trade negotiators pushed on Wednesday for a finalisation of a tariff reduction deal before President Donald Trump's deadline July 9 but disagreements regarding U.S. agriculture and dairy remained unresolved. Why are agricultural imports sensitive in India? Agriculture and related areas only contribute 16% of India's $3.9 trillion GDP, but support nearly half the 1.4 billion people in the country. Farmers remain India's most powerful voting block…
What is more influential on crude oil? What is more influential: US bombs, or Iran's quiet allies?
The sharp decline in the Israel-Iran War Premium for Crude Oil shows how a few key words can move the market. However, it also hides the influence of those who remain largely silent. Brent futures, the global benchmark, plunged after U.S. president Donald Trump announced a "complete" and "total" ceasefire will be implemented between Israel and Iran. Brent crude oil ended Monday at $71.48 per barrel, down 7.2% compared to its previous close. It has also given up on its earlier rally which saw it reach as high as $81.40 - the highest since January 17.
What is more influential on crude oil? What is more influential: US bombs, or Iran's quiet allies?
The sharp decline in the Israel-Iran War Premium for Crude Oil shows how a few key words can move the market. However, it also hides the influence of those who remain largely silent. Brent futures, the global benchmark, plunged after U.S. president Donald Trump announced a "complete" and "total" ceasefire will be implemented between Israel and Iran. Brent crude oil ended Monday at $71.48 per barrel, down 7.2% compared to its previous close. It has also given up on its earlier rally which saw it reach as high as $81.40 - the highest since January 17.
India has said it will not restore the Indus Water Treaty with Pakistan
Amit Shah, the Indian Home Minister, said that India would never restore the Indus water treaty with Islamabad and the water flowing into Pakistan would be diverted to India for its own use. This was revealed in an interview published by the Times of India. After 26 civilians were killed in Indian Kashmir in an attack that Delhi called a terrorist act, India "abrogated" its participation to the 1960 treaty which governs usage of the Indus River system.
Modi's India aims to strengthen energy and defence ties during Sri Lanka visit
India wants to promote investment and strengthen defence and energy ties with Sri Lanka during Prime Minister Narendra Modi’s two-day visit to the island country, where New Delhi is competing with China for more influence. Modi will arrive in Sri Lanka on Friday night. He is the first world leader to be hosted by Anura Kumara dissanayake since he assumed office. Sri Lanka wants to attract foreign investments to stabilize its economy following a financial crisis that occurred in 2022 during which India contributed $4 billion.
Tax tussles between Indian and foreign companies
In India, foreign companies often face difficulties due to the high tax demands on large M&A deals or accusations by the government of duty evasion. This can lead to lengthy litigation. The following are the most important tax disputes that have occurred in the past and present involving foreign companies. In January, the South Korean giant Samsung Electronics was ordered to pay back taxes and penalties of $601 million for avoiding tariffs on imports of key telecom equipment.
Adani Total Dhamra terminal expansion is not imminent, CEO claims
Adani Total, an Indian joint venture, has not yet conducted feasibility studies for doubling the capacity of the LNG terminal at Dhamra. Chief Executive Surjeet S. Lamba said this on Thursday. This comes a year after Adani Total announced that it was planning to expand its terminal. Lamba stated that the 5 million tonnes per annum (mtpa), LNG terminal in India's East Coast, where TotalEnergies SE, a French energy giant, has a 50% share along with the Adani Group in 2024, would operate at an average utilization rate of 25%.
Indian oil companies are in talks with U.S. LNG suppliers to purchase their supplies
Pankaj Jain, the Oil Secretary of India, said that Indian oil companies were looking to purchase U.S. LNG. This was boosted by Trump's administration lifting its ban on new export permits. India, the world's fourth-largest LNG importer, aims to increase its gas share in its energy mix from 6.2% to 15% by 2030. Jain stated that Indian oil companies were in talks with U.S. firms to source additional LNG. Among these companies, he said, were GAIL (India) Ltd., Indian Oil Corp. and Bharat Petrol Corp.
Sources say that India's steel minister is seeking $1.7 billion from the budget to assist mills reduce emissions.
Two government sources who are directly involved in the matter said that the Indian steel ministry requested 150 billion rupees (1,74 billion dollars) to be allocated to the budget as incentives for mills to produce low carbon steel. Nirmala Sitharaman, Finance Minister, will present the federal Budget for 2025-2026 on February 1. India, which is the second-largest steel producer in the world after China, is working on a policy to decarbonise the production of the alloy.
India announces a formula for classifying green metal
India's Steel Ministry announced on Thursday a formula to define 'green steel', classifying it into three categories based upon the amount of carbon emissions produced per metric ton of the alloy. A presentation by the Ministry of Steel in New Delhi revealed that "green steel" is steel with carbon dioxide emissions less than 2.2 tonnes per tonne. Steel with emissions less than 1.6 tonnes per ton of alloy will be classified as "five star green-rated steel", the cleanest among the three.
Albanese: Australia and India will boost their cooperation in renewables and defence
Australia and India will work together to increase investment in renewable energies, such as solar manufacturing, batteries, and mineral processing. This was the announcement made by Prime Minister Anthony Albanese during a G20 meeting on the sidelines. Albanese, the Australian Minister for Defence and Maritime Security, said that Australia and India would also like to increase their defence and maritime cooperation. He made this statement during a Tuesday meeting in Rio de Janeiro with India's PM Narendra Modi.
Hindustan Zinc's chairman says the company aims to switch over to renewable energy within five to seven years.
Priya Agarwal, chairperson of Hindustan Zinc, said on Tuesday that the miner plans to switch to renewable energy in five to seven years to power its operations. "We have plenty of thermal power (captive). The plant won't shut down tomorrow. It will take some time but we are committed to ensuring that the transition is successful over time," Agarwal stated at the FT Energy Transition Summit India, held in New Delhi. Agarwal stated that more than 90% of the emissions from the company are generated by thermal energy.
India is considering easing export restrictions on non-basmati risotto as supplies improve
A senior government official announced on Wednesday that India was considering loosening restrictions on non-basmati exports. This comes as inventories of the world's largest exporter of rice have soared, and farmers prepare to harvest their new crop within the next few weeks. This move follows Prime Minister Narendra Modi’s government's implementation of a series farm measures to boost farmers’ incomes in advance of elections in states where growers are a major voting bloc, and after Modi’s defeat at the general election.
India to Invite Foreign Investment in State-owned Oil Companies
International energy firms will be invited to participate in India's privatization of state-owned oil companies, the country's Oil Minister Dharmendra Pradhan said late on Monday.Pradhan said Indian Prime Minister Narendra Modi recently met with the chief executives of energy firms in Houston, including those from Exxon Mobil Corp, BP Plc, Royal Dutch Shell, Rosneft Oil Co, Saudi Aramco and Abu Dhabi National Oil Co (Adnoc).This is the first…
Opinion: COVID-19, Climate Change ... & Changing the World, Together
Our planet is facing its greatest challenge, and it’s not coronavirus. Asbjørn Halsebakke, Product Manager, Yaskawa Environmental Energy / The Switch, ponders how greater political action could help the maritime industry meet its most ambitious environmental goals.Why hasn’t the climate crisis elicited the same urgent response from global governments as the corona pandemic? When confronted with the terrible threat of viral spread, national leaders from Boris Johnson to Narendra Modi…
Prime Minister Modi: India to Double Refining Capacity in 5 Years
India plans to nearly double its oil refining capacity in the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite the coronavirus pandemic blighting the economy.The country's energy minister was quoted http://www.ficci.in/ficci-in-news-page.asp?nid=23094 in June as saying India's oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.But addressing a petroleum university's convocation…
Surge of Coronavirus in India Dents Bullish Crude Case
The problem for crude oil market bulls is that every time they think they have built up steam, something comes along to knock the momentum off track.The coronavirus surge in India and the imposition of states of emergency in populated parts of Japan, including Tokyo and Osaka, to deal with rising infections from the pandemic are the latest cases in point.Given that India and Japan are the world's third- and fourth-largest crude importers, it's…
India, S. Arabia in New Petro Relationship
India and Saudi Arabia have decided to expand its ‘energy relationship’ into next phase to include Saudi partnership in building additional crude oil storage reserves in India, a new refinery on the west coast of India and investment in retail sector in petroleum.Saudi Arabia is its second-biggest supplier of crude oil after Iraq. It sold 40.33 million tonnes of crude oil to India in 2018-19 fiscal, when the country had imported 207.3 million tonnes of oil.India imports around 18 per cent of its crude oil from the Kingdom…
India's Top Oil Refiner Plans 10,000 Electric Car Charging Stations
Indian Oil Corp (IOC) will set up 10,000 electric vehicle charging stations in the next three years and is drawing up plans to cut greenhouse gas emissions from its operations to aid the country's net-zero carbon target by 2070, its chairman said on Wednesday.Prime Minister Narendra Modi on Monday announced 2070 as the target for India to reach net zero, saying that by 2030 the share of renewables in India's energy mix would rise to 50% from 38% and projected emissions would be cut by a billion tonnes.IOC…
