Energy & Petroleum News Today

Base oil prices in Asia have softened from April highs as crude oil and feedstock costs eased, improving supply availability across Group I and Group II grades. However, Group III base oil prices remain elevated due to Middle East production disruptions and supply shortages. Indian buyers remain cautious amid monsoon-driven demand uncertainty.

Chennai faces a 5-hour power shutdown (9 am-2 pm) on Wednesday in Sembium, Keelkattalai, and Ennore for network maintenance, affecting thousands. This highlights challenges of ageing infrastructure and balancing upkeep with urban services.

NSA Doval welcomed the Strait of Hormuz opening for energy security. At the BRICS conclave, he stressed the 11-member grouping's vital role in global challenges, representing 49.5% global population, 40% GDP, and 26% trade.

Grid India proposes repurposing 9 underutilised thermal power units (1.8 GW) into synchronous condensers. This aims to boost grid stability and reliability, crucial for integrating India's rapidly growing renewable energy capacity.

Mumbai's new biogas facility at Mankhurd will convert 350 tonnes of organic waste daily into clean energy, reducing landfill dependence and boosting energy security. This project marks a significant step in sustainable urban development.

Mumbai is investing ₹15,000 crore in a major electricity network overhaul, including a new 400 kV ring network. This aims to boost energy security, support urban growth, and meet rising demand, enhancing reliability and efficiency.

Tata Power's Residential Rooftop Solar offers subsidy-backed (PM Surya Ghar) 3-10 kW systems with EMI, cutting bills by 50-60% and ensuring 5-7 year payback. This drives shares and expands clean energy across India.

Global solar capacity exceeded 3 TW, adding 664 GW in 2025. India became the second-largest market (45.7 GW). Despite a 2026 slowdown, 6.6 TW is projected by 2030, crucial for global clean energy transition.

India could achieve 90-100% EV component localization (ex-batteries) by 2030, driven by investments and 14-fold EV sales growth since FY20. Challenges remain with imported semiconductors and rare-earth magnets, limiting deeper domestic value creation despite the PLI scheme.

India's EV market is booming, driven by lower running costs (?1.20/km vs ?7.00/km petrol), government incentives, and improving charging. With 8-year battery warranties and diverse models from ?7-?35 Lakh, 2026 is ideal for EV adoption.