TRANSPORT FUELS
Bajaj Auto launches world's first CNG bike, Freedom 125. Check price, mileage and other features
India's Bajaj Auto has launched the world's first compressed natural gas (CNG)-powered two-wheeler, the Freedom 125, in Pune. The entry-level vehicle, likely priced at Rs 95,000, aims to shake up the motorcycle market. CEO Rajiv Bajaj praised the bike as an avatar of freedom and freedom from petrol. Key features include telescopic front forks, mono-link suspension, front disc and rear drum brake setup, and a 125cc engine.
Petrol sales up 4%, diesel 1% in June
Fuel sales data from April to June indicates a growth in petrol and diesel consumption, with petrol sales rising by 4.2% and diesel sales by 0.7% year-on-year. The aviation turbine fuel (ATF) and liquefied petroleum gas (LPG) sales also saw increases, reflecting a positive trend in the national oil product demand.
Roadmap to EV 30@30: How can India achieve this ambitious target
India's climate change strategy includes the EV30@30 initiative, aiming for 30% of new vehicle sales to be electric by 2030. This transition enhances air quality, reduces oil dependence, and fosters economic growth. While challenges like limited commercial EV options and charging infrastructure persist, government incentives and rising private investments are accelerating EV adoption.
Thyssenkrupp India lines up sustainable aviation fuel foray
Thyssenkrupp Industries India, whose majority shares were recently sold by its German parent company, is set to enter the sustainable aviation fuel (SAF) sector as part of its new business strategy under Indian ownership. Vivek Bhatia, the managing director, informed ET that the capital goods company is currently in the process of finalizing partnerships for its SAF initiative. SAF is an eco-friendly aviation fuel derived from non-petroleum sources, such as forestry and agricultural waste, used cooking oil, carbon captured from the atmosphere, and green hydrogen.
Decarbonization by 2045 agreed: Youth-led climate lawsuit settled in Hawaii
Hawaii settles with 13 young plaintiffs in Navahine v. Hawaii Department of Transportation lawsuit to decarbonize transportation by 2045, approved by Judge Tonaki.
The fuel secretly powering India’s economy — GCCs
The growth of global capability centers (GCCs) in India is fueling various sectors and contributing significantly to the economy. With projections indicating substantial growth in the coming years, GCCs are becoming strategic assets for companies and investors, driving innovation and job creation across industries.
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Power units' imported coal blending may be cut to 4%
India is considering reducing the mandatory blend of imported coal with locally produced fuel for thermal power units from 6% to 4-5% due to higher coal stocks at plants. The advisory on coal blending, extended in March to ensure power availability during peak demand, is set to expire on June 30.
Karnataka defends fuel price hike amidst growing outrage; BJP to protest statewide
While Industries minister MB Patil on Sunday defended the hike, saying the money was necessary for funding the state’s guarantee schemes, citizens took to social media to express their dissatisfaction, with the topic generating over 11,000 posts on X.
Extreme heat melts diesel demand, sales drop 4% in June
In June, India's diesel demand fell due to extreme heat reducing travel, continuing a declining trend despite typically high election season sales. Diesel sales dropped 3.9% year-on-year and remained flat month-on-month. Petrol consumption also decreased by 4.6% annually. Contrarily, jet fuel and LPG demand saw year-on-year increases.
Karnataka hikes petrol, diesel prices by Rs 3 per litre
The Karnataka government has announced a sudden increase in petrol and diesel prices due to a revision in sales tax. Petrol price has risen by Rs 3 to Rs 102.84 per litre, while diesel price has increased by Rs 3.02 to Rs 88.95 per litre. The Petroleum Dealers Association attributes the hike to the state government's sales tax revision. The Finance Department of Karnataka aims to boost state revenue with this move.
India to lead world in fuel demand growth: IEA
India, the third-largest oil importer globally, is set to drive oil demand growth according to the IEA. Forecasts predict a significant rise in consumption by 1.3 million barrels between 2023 and 2030, with India's demand exceeding China's. The nation's expanding economy and growing population are key factors in this surge. With a focus on road transport fuels and limited petrochemical growth, India's refining capacity is also expected to increase to meet rising demands, making the country heavily reliant on oil imports.
Oil prices extend rally on potential U.S. crude purchase for reserve
Oil prices rose on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, supported by expectations of rising fuel demand this summer. Market focus is on the Fed's policy meeting and upcoming reports from OPEC and the International Energy Agency. Analysts expect Brent to rise to $86 a barrel in the third quarter.
Oil rises on hopes of summer fuel demand
Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer transport demand will push the oil market into a third-quarter deficit of 1.3 million barrels per day (bpd).
Golden era for shipping seen ahead as geopolitics boosts pricing
Shipping industry in Athens anticipates higher earnings amidst geopolitical conflicts and supply uncertainties.
Political noise is temporary in the end it's about GDP growth; 6 logistics companies with upside potential of up to 39%
It will take some more time for the street to get out of the political noise and analysis and stocks may witness some more correction. But these are all short term issues, in the end markets are keen about two things, overall economic growth and earnings of the company. In the recent political noise what has been probably getting missed is the fact that GDP numbers were better than expected. It is very likely that we are going to see continued growth in the GDP numbers, yes, there would be voices which would say that focus consumption would increase and all other things, but in the end the biggest beneficiary of the continued higher growth is the logistics sector. The reason is simple, if the economy is doing well, more goods will be produced and they will have to be transported and that is why in large developed economies, logistic companies form part of a very important transportation index. Also another big factor, these companies have gone through a restructuring and have come out after facing many challenges.
Moving to renewables will mean using less energy overall
Moving to clean energy could also bring savings of up to $4.6 trillion each year, according to new research from Colorado-based think tank RMI.
India to increase road toll charges from Monday
India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country's general elections. Toll charges in India are revised annually in line with inflation, and highway operators have announced hikes of 3% to 5% at nearly 1,100 toll plazas starting Monday.
Strong hybrids need to replace ICE models and not EVs: Maruti Suzuki executive
Maruti Suzuki India executive emphasizes strong hybrids over fossil fuel-powered models and pure electric vehicles (EVs) for auto industry sustainability.
India has significant potential for producing sustainable aviation fuel, says IATA
IATA highlights India's potential for Sustainable Aviation Fuel production to reduce carbon emissions. The organization plans to launch the SAF Registry in 2025, supported by various stakeholders like Hemant Mistry.
Old empires could be the key to a new car future
Hydrogen, a vital element in water creation, is gaining traction as a fuel source for fuel-cell electric vehicles.
Army collaborates with IOCL for green, sustainable transport solutions
The Indian Army has partnered with Indian Oil Corporation Limited (IOCL) to implement green and sustainable transport solutions. A Memorandum of Understanding was signed, and one hydrogen fuel cell bus was received by the Army. The hydrogen fuel cell technology converts hydrogen gas into electricity, leaving water vapor as the only by-product, ensuring zero emissions.
For fleet operators, revenue growth to double to 9-11% in FY25: Report
CRISIL Ratings predicts that road transport fleet operators' revenue growth will double to 9-11 per cent this fiscal, driven by better domestic demand and tepid exports. Operating margins are expected to improve 75-100 basis points due to better fleet utilization and steady fuel costs. Operators may moderate capital expenditure for fleet expansion, following strong additions in the past three fiscal years.
Indian seafarers remain most abandoned at sea for another year
For two consecutive years, Indian seafarers have faced the highest rates of abandonment, with 411 individuals already left stranded on ships within the initial six months of the current year. According to a report from TOI, a total of 116 vessels and 1,672 seafarers have been abandoned so far in this year.
GAIL hires LNG ship from CoolCo
GAIL (India) Ltd has contracted a newbuild LNG carrier from NYSE-listed Cool Company for 14 years, enhancing its transportation capacity to meet India's rising gas needs. The agreement includes partnerships with Sabine Pass Liquefaction LLC and Cove Point LNG liquefaction terminal.
Electioneering at its peak but diesel sales slide, petrol almost flat
India's diesel sales dropped in early May, while petrol consumption remained steady despite peak election campaigns, according to state-owned firms' preliminary data. Petrol sales in the first half of May were nearly unchanged from last year, at 1.367 million tonnes. Diesel sales fell by 1.1% to 3.28 million tonnes, continuing declines seen in previous months. Despite factors like electioneering and reduced fuel prices, diesel demand has not increased. Jet fuel sales rose year-on-year, but cooking gas LPG sales slightly declined.
Social network that needs connecting
India is planning a revamp of its urban transport sector to improve accessibility to work, healthcare, and education. The plan includes integrating metro and bus networks, promoting greening of intracity goods transport through small trucks, and aligning bus and metro routes. The lack of a holistic approach, with nearly half a dozen central ministries working in isolation, has led to discussions on an omnibus transport ministry.
Hydrogen fuel of future, vehicles will run on 100% ethanol in coming years: Nitin Gadkari
Nitin Gadkari champions hydrogen as the future fuel, promoting green fuels in India. He envisions ethanol-based vehicles dominating the market, leading to job creation in agriculture. Supporting BJP's Giriraj Singh, he emphasizes infrastructure development for PM Modi's economic goals.
US: Aircraft transporting fuel crashes into frozen river in Alaska
A C-54 aircraft crashed in Fairbanks, Alaska, shortly after takeoff, leading to a fatal accident. The NTSB is investigating the incident, and various entities are involved in the recovery and investigation process.
Cleaner skies ahead? A glimmer of hope for airline industry’s clean fuel challenge
A breakthrough emerges as a rural Georgia plant readies to produce the world’s initial commercial supply of cleaner jet fuel, converting ethanol into jet engine-compatible fuel. LanzaJet Inc.'s $200 million facility marks a stride in tackling aviation's climate impact, amidst global efforts. However, scaling remains a challenge, with limited progress due to hefty costs and operational hurdles, highlighting the immense task ahead to meet aviation's emission targets.
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