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Business Standard
a day ago
- Business
- Business Standard
HPCL to invest $231 million to build 24 compressed biogas plants in India
Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) aims to invest about Rs 20 billion ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on Friday. India, among the world's largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero target. HPCL Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24 more plants with a daily capacity to produce 10-15 tons each of CBG using agriculture residue, cattle dung and sewage water, among others, said Mohit Dhawan, chief executive of the subsidiary company. Since April, India has mandated mixing gas used to run automobiles and cooking gas with 1 per cent of CBG. This would be gradually raised to 5 per cent by 2028-2029, said Vikas Singh, a director in the federal oil ministry. He said about 28 million cubic meters a day (MMSCMD) of gas is daily used to run automobiles and in cooking. "We expect this to rise to 44 MMSCMD by 2028-29" Singh said, adding by that time India would have 480 CBG plants, including 195 by state oil and gas companies. India at present meets nearly half of its gas needs through imports of costly liquefied natural gas (LNG). India wants to raise use of gas in its energy mix to 15 per cent by 2030 from the current 6 per cent. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
a day ago
- Business
- Time of India
HPCL to invest $231 mn to build 24 compressed biogas plants in India
Hindustan Petroleum Corp Ltd plans to invest 20 billion rupees to establish 24 compressed biogas plants in the next two to three years. This initiative supports India's goal to cut carbon emissions and achieve net-zero by 2070 by utilizing organic waste for cleaner fuels. India aims to increase gas usage in its energy mix to 15% by 2030. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) aims to invest about 20 billion rupees ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on among the world's largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24 more plants with a daily capacity to produce 10-15 tons each of CBG using agriculture residue, cattle dung and sewage water, among others, said Mohit Dhawan, chief executive of the subsidiary April, India has mandated mixing gas used to run automobiles and cooking gas with 1% of would be gradually raised to 5% by 2028-2029, said Vikas Singh, a director in the federal oil said about 28 million cubic meters a day (MMSCMD) of gas is daily used to run automobiles and in cooking."We expect this to rise to 44 MMSCMD by 2028-29" Singh said, adding by that time India would have 480 CBG plants, including 195 by state oil and gas at present meets nearly half of its gas needs through imports of costly liquefied natural gas (LNG). India wants to raise use of gas in its energy mix to 15% by 2030 from the current 6%.
Reuters
a day ago
- Business
- Reuters
HPCL to invest $231 million to build 24 compressed biogas plants in India
MEERUT, INDIA, June 20 (Reuters) - Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) ( opens new tab aims to invest about 20 billion rupees ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on Friday. India, among the world's largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero target. HPCL Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24 more plants with a daily capacity to produce 10-15 tons each of CBG using agriculture residue, cattle dung and sewage water, among others, said Mohit Dhawan, chief executive of the subsidiary company. Since April, India has mandated mixing gas used to run automobiles and cooking gas with 1% of CBG. This would be gradually raised to 5% by 2028-2029, said Vikas Singh, a director in the federal oil ministry. He said about 28 million cubic meters a day (MMSCMD) of gas is daily used to run automobiles and in cooking. "We expect this to rise to 44 MMSCMD by 2028-29" Singh said, adding by that time India would have 480 CBG plants, including 195 by state oil and gas companies. India at present meets nearly half of its gas needs through imports of costly liquefied natural gas (LNG). India wants to raise use of gas in its energy mix to 15% by 2030 from the current 6%. ($1 = 86.5650 Indian rupees)
India Today
3 days ago
- Business
- India Today
Can Israel-Iran conflict wreck India's Economy?
The escalating warfare between Israel and Iran is sending tremors far beyond West Asia, with India bracing for significant economic and strategic consequences. Following Israel's deadliest aerial assault on Iran on 13th June 2025 and Iran's swift ballistic retaliation targeting Tel Aviv and Haifa, the conflict threatens to disrupt India's vital economic lifelines. Energy Security Under Threat India's heavy reliance on crude oil imports—over 80% of its needs—makes it particularly vulnerable to disruptions in the Strait of Hormuz, a critical chokepoint now shadowed by Iranian warships. Brent crude has already surged 9%, whilst Indian oil giants BPCL, HPCL, and Indian Oil have suffered 3.5% stock losses. The ripple effects could trigger transportation cost increases, manufacturing slowdowns, rupee depreciation, and a widening fiscal deficit—all hampering India's post-COVID economic Corridors at RiskIndia's basmati rice exports to Iran, worth over 6,374 crore in 2024-25, face severe disruption as Iranian buyers delay payments beyond 180 days. The broader India-Israel trade relationship, valued at $10.1 billion across defence, agri-tech, and AI sectors, now operates under security scrutiny. Most critically, India's $85 million investment in Iran's Chabahar Port—designed to unlock Central Asian markets—faces an uncertain future as the facility becomes a potential VulnerabilityPerhaps most surprisingly, 95% of India's international data traffic flows through undersea cables routed via the Middle East. Previous disruptions to major cables in the Red Sea have already caused bandwidth chaos, threatening India's $245 billion digital economy. With Mumbai, Chennai, and Kochi serving as key cable landing zones, a single break could slash regional bandwidth by 70%.advertisementStrategic Partnerships in JeopardyIndia's defence relationship with Israel, including purchases of Heron Mark-2 drones and Harop munitions, now carries diplomatic risks. The Adani Group's $1.2 billion acquisition of Haifa Port—a cornerstone of the India-Middle East-Europe Economic Corridor (IMEC)—finds itself in a city under missile India navigates this crisis, the conflict underscores a harsh reality: in an interconnected world, neutrality offers no immunity from regional wars that threaten global supply chains and economic stability. Must Watch
News18
4 days ago
- Business
- News18
Crude Oil Prices Jump After Trump's Israel-Iran Remarks; HPCL, BPCL, IOC Shares Hold Steady
Last Updated: Crude oil prices spiked nearly 2% after US President issued a dramatic warning amid escalating tensions between Israel and Iran Crude oil prices spiked nearly 2% after US President Donald Trump issued a dramatic warning amid escalating tensions between Israel and Iran. Despite the surge, shares of Indian oil marketing companies (OMCs) showed resilience in early trade on Tuesday, June 17. Trump posted a late-night message on social media urging an 'immediate evacuation of Tehran," fueling speculation about potential US military involvement. His comments contrasted sharply with earlier hopes of de-escalation, raising fresh concerns about a wider Middle East conflict. He also warned Iran to abandon its nuclear ambitions before it was 'too late." Following his remarks, Brent crude rose 1.8% to $74.51 per barrel, while WTI crude gained 1.9%, settling at $73.13 per barrel. Despite the jump in global oil prices, domestic OMCs like Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL), and Indian Oil Corporation (IOC) traded with marginal gains around 9:25 AM, defying usual market patterns. Typically, rising crude prices hurt OMCs, as higher input costs can squeeze margins—especially when retail prices are regulated or demand is weak. Conversely, upstream companies like ONGC and Oil India benefit, as their revenues rise with crude prices while costs remain relatively stable. UBS noted that while crude has surged, OPEC's spare capacity could limit further upside. It also expects Indian OMCs to report above-normal margins this quarter. JM Financial said fears of crude crossing $80 per barrel remain subdued unless Iran disrupts the Strait of Hormuz, a crucial oil transit route. However, it believes such a scenario is unlikely, citing past regional conflicts where the Strait remained open due to strong Western deterrence. First Published: June 17, 2025, 11:19 IST
