Energy & Petroleum News Today

Bokaro Steel Plant deployed 45 EV cars for CGMs, planning more EVs and buses for greener operations. Other steel firms like ESL Steel (one-third LMV fleet electrified) and BMW Industries are also adopting electric vehicles for decarbonization.

Telangana recorded 91,572 EV registrations in FY2025-26, reaching over 2.8 lakh total. The state plans 2,800 e-buses by 2027 and 6,000 charging stations by 2030, offering tax exemptions and single-window clearances to boost EV adoption.

India's renewable energy surged 28.3% (9,408 MU) in early May 2026, dropping IEX prices 17.4% to INR 2,596/MWh despite 6.1% higher peak demand. This contrasts April's volatility, highlighting a cheaper, yet weather-sensitive, market.

PM Modi's natural farming appeal is positive, but experts say transformation needs time, training, and financial support. It promises improved soil health, reduced chemical dependence, and lower imports, despite challenges like solar pump costs.

IFGE announced the 6th India Green Energy Awards, supported by two ministries, to honor innovators in renewable sectors like solar, wind, and EVs. Nominations are open until May 15, 2026, encouraging clean energy transition and net-zero goals.

Piyush Goyal stated plug-in hybrids (PHEVs) are key for India's electric mobility transition, addressing range anxiety and charging concerns. He noted a 100-kilometre battery with a backup engine works well, reducing import dependence and promoting mass adoption.

BJP protested across Jharkhand over severe water and power crises, alleging government failure. Demonstrators highlighted 8-10 hour power cuts in Ranchi, worse rural conditions, and 80,000 defunct hand pumps.

The steel industry faces a coal lock-in crisis, threatening net-zero targets. India drives 42% of new capacity, 93% coal-based. Globally, 178 mtpa net gain in blast furnace capacity is projected, contradicting decarbonization efforts.

The base oil market faces a "divergent" trend this week. While Group I and Group II prices saw minor downward adjustments in Asia due to improved stock levels and buyer resistance, Group III prices in India and globally continue to climb. Supply remains the primary bottleneck as major refineries face force majeure following drone strikes.

India's strategic coal gasification drive aims for energy self-reliance by 2030, reducing import dependency and enhancing economic resilience. This initiative, aligning with Atmanirbhar Bharat, converts coal into synthetic gas, boosting domestic manufacturing and national security.