Energy & Petroleum News Today

India's bitumen market remained firm despite a sharp correction in Brent crude prices, as supply-side disruptions, elevated freight costs, and constrained vessel availability continued to support prices. While easing geopolitical tensions reduced the oil risk premium, cautious buying during the monsoon and delayed Persian Gulf cargo arrivals kept procurement activity subdued.

Iran plans preliminary talks with Türkiye to import 450 MW electricity for petrochemical plants, damaged during war (Feb 28-Apr 7). A private company will facilitate the supply via the Van-Hoi line, pending price agreement.

India enhances energy security via coal chemistry (DME, ₹34,000 cr savings), pursues 2047 energy self-reliance and 2070 net-zero with a unified framework, and reforms PPPs for $20 trillion infrastructure through capital circulation.

SECL's 29 June coal auction allocated 0.96 mnt, with G11 dominating. G6 coal saw highest premiums (up to 80%), reflecting strong demand for quality despite lower overall allocations. Selective buying for preferred grades and sources continued.

Kerala addresses daytime solar surplus and costly evening power with a 250 MW/500 MWh grid-scale Battery Energy Storage System at Brahmapuram. Approved at Rs 1.81 lakh/MW/month, it's set for September 2027 commissioning.

Coal India sold 108.76L tonnes in June e-auction with 42% premium. Q1FY27 saw SECL output up 7.2% to 44.1mt, but MCL and NCL volumes declined by 17.5% and 16.3% respectively.

Freyr Energy, India's 3rd largest residential rooftop solar player, serves over 18,000 customers across 45 cities. Aiming for 100 cities, it plans to evolve into a comprehensive home energy management company, simplifying solar adoption and optimizing energy use.

India defied the 2026 Hormuz crisis, with retail fuel prices rising only ~7% versus a global ~25-30%. A decade of preparation, including diversifying crude sources to 40+ countries and boosting domestic LPG output by ~54%, ensured energy security.

India highlighted its renewable push at the BRICS Energy Meeting, targeting 100 GW pumped storage and 80 GW battery storage. The nation is rapidly scaling smart grids and storage to build a future-ready power sector, fostering collaboration among 11 BRICS countries.

Government plans to boost domestic solar and hydrogen component production, including cells, modules, and electrolysers. This aims to cut imports, enhance energy security, and create jobs through incentives and supply chain development.