Modi govt plans ‘Pariwartan’ scheme for power sector revival

download (6).jpgSource: LiveMint.com, Jun 21, 2018

New Delhi: The government plans to warehouse stressed power projects totalling 25,000 megawatts (MW) under an asset management firm to protect the value of the assets and prevent their distress sale under the insolvency and bankruptcy code till demand for power picks up.

State-run Rural Electrification Corp. Ltd (REC) has identified projects with a total debt of around Rs 1.8 trillion as part of the scheme, which is under government consideration and has been tentatively named Power Asset Revival through Warehousing and Rehabilitation, or ‘Pariwartan’, said a government official aware of the plan, requesting anonymity.

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Narendra Modi govt planning National Electricity Distribution Company

Source: LiveMint.com, Jun 19, 2018

New Delhi: In what may be a game changer for India’s beleaguered electricity distribution sector, the National Democratic Alliance (NDA) government is considering setting up a pan-India power distribution company, said two people aware of the development.

The idea to set up a National Electricity Distribution Company is being explored, given that the segment will be key to the long-term fortunes of the power sector. Distribution companies have so far been the weakest link in the electricity value chain. Poor payment records of state-owned electricity distribution companies (discoms) have not only adversely affected power generation companies, but has contributed in causing stress in the banking sector as well.

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Gas trading hub likely to be set up before year-end

Source: The Hindu Business Line, May 29, 2018

Hyderabad: A natural gas trading hub, on the lines of energy exchange, is likely to be set up in India before the end of the year.

According to Satpal Garg, Member, Petroleum and Natural Gas Regulatory Board, services of Crisil have been enlisted to work out the modalities for making this a reality.

Speaking on the sidelines of introducing the 9th City Gas Distribution Bidding Round, here, Garg said, “The thinking behind setting up such as hub is to create an Indian benchmark, ensure fair pricing and encourage the use of natural gas. The consultant will facilitate in development of a regulatory framework for operating the gas trading hub.” Read the rest of this entry »

Oil, gas contractors to get rights for other hydrocarbons in their areas

Source: Business Standard, May 21, 2018

New Delhi: The government is set to announce a new policy on unconventional hydrocarbon resources.

Under this, operators of blocks under the New Exploration Licensing Policy (Nelp) and pre-Nelp rounds will be able to access shale oil, shale gas, coal-bed methane (CBM) and gas hydrates from the same blocks where they are extracting conventional oil and gas.

The move is likely to benefit not only state-run exploration and production companies Oil and Natural Gas Corporation (ONGC) and Oil India but also private majors Cairn India (now part of Vedanta) and Reliance Industries (RIL).

A new Hydrocarbon Exploration and Licensing Policy (Help) was cleared by the Union Cabinet in March 2016. It allows for a uniform licence to explore and produce all forms of hydrocarbons. According to multiple sources, the government is working on a Cabinet note in this regard. Read the rest of this entry »

US energy majors want govt to give them larger access to Indian markets

Source: Business Standard, Apr 18, 2018

New Delhi: The United States government has praised India for buying LNG, oil and coal from it but has offered little business interests in return, at the end of the First Strategic Energy Partnership between the two countries.

US Energy Secretary, Rick Perry offered no signs of having nudged investment by American companies in India’s oil and gas exploration blocks. He did not say if Washington will ease off on the cases it has dragged India into at the WTO dispute resolution forum for alleged favours shown by New Delhi to domestic solar companies and said it will wait for outcomes before signing on to membership of India promoted International Solar Alliance.

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India-US to strengthen its alliance in oil & gas, power, renewable energy

download (8)Source: Business Standard, Apr 18, 2018

New Delhi: India and the United States on Tuesday decided to increase its co-operation in oil and gas, power, renewable energy and coal sectors during the first meeting of the US-India Strategic Energy Partnership.

US president Donald Trump and Prime Minister Narendra Modi had announced the partnership on June 26, 2017, in Washington, D.C. Through the partnership, the United States and India collectively seek to enhance energy security, expand energy and innovation linkages across respective energy sectors, bolster strategic alignment, and facilitate increased industry and stakeholder engagement in the energy sector, the government said in a statement.

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Indian Oil, HPCL, BPCL to invest Rs10,000 crore for Bio-CNG plants

Source: LiveMint.com, Apr 10, 2018

Mumbai: State-run oil marketing companies Indian Oil Corporation (IOC); Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) plan to spend nearly Rs10,000 crore to set up Bio-CNG plants across India to promote clean fuel and reduce the country’s fuel import bill, two people aware of the development said.

The Bio-CNG plan will be detailed in the national biofuels policy to be released this month, the people added.

The policy will detail a Rs1 trillion investment opportunity under Waste-to-Wealth projects.

Bio-CNG is a purified form of biogas with over 95% pure methane. It is similar to natural gas in its composition (97% methane) and energy potential.While natural gas is a fossil fuel, Bio-CNG is a renewable form of energy produced from agricultural and food waste.

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