Energy & Petroleum News Today

UAE's OPEC exit by May 2026, targeting 5M barrels/day by 2027, creates opportunities for India: increased oil supply, lower prices, deeper US$200B trade by 2032, and 30M barrels strategic oil storage.

Neelkanth Mishra urges India to accelerate energy reforms and make tough policy decisions to reduce import dependence, despite vast domestic resources. He highlights issues like free power to farmers (18-20%) and high industrial electricity costs (6-15 rupees/kWh) hindering investment, calling for urgent price reform.

Pune faces a dual challenge: rising inflation, driven by fuel and living costs, causing financial strain, alongside increasing climate-related disruptions. This necessitates balancing economic growth with resilience investments for sustainable urban development.

States increasingly rely on power exchanges for short-term supply to manage volatile demand, hitting a record 270.82 GW. Over 4.68 BU traded on IEX (May 17-31), with RTM volumes exceeding DAM, showing flexibility in balancing the grid.

IATA urges urgent SAF development, but production is only 0.8% (2.4M tonnes) of jet fuel use, despite 9M tonnes capacity. Policy shortfalls and lack of incentives hinder growth, increasing airline costs.

The global Hydrogen Mercury Removal Beds market is set to accelerate by 2035, growing at a 4.8% CAGR (2026-2035) to an index of 157, driven by stricter emission norms and gas processing expansion. Asia-Pacific leads demand.

Retail gasoline and oil prices at MIPEC on June 7th reflect a June 4th adjustment. E10 RON 95-III is 22,330 VND/liter, E5 RON 92-II is 21,780 VND/liter. Prices decreased significantly, offering 430-560 VND/liter savings, benefiting consumers and businesses.

A dispute over an 11-kV power line shifted into a residential street in Fatehabad has reached the grievance committee. Residents allege officials rerouted the line, costing Rs 16,000, to benefit property dealers by crores, raising safety concerns.

SADC's rack power distribution panel market is forecast to grow 6-9% CAGR to 2035, driven by data centers and renewables. South Africa leads consumption (50-60%), while 70-85% of panels are imported, with premium segments expanding.

Donald Trump claims the US holds more oil, gas, and coal than any nation, potentially 64% with Venezuela. He credits US output for $96/barrel oil prices and asserts Iran is not getting nuclear weapons.