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Energy News MonitorVol.-VIII, Issue-48, 15 May 2012
Even before US Secretary of State Hillary Clinton arrived in New Delhi recently her intentions were clear. Speaking in Kolkata she told her audience that her mission was to persuade India to cut down its oil imports from Iran. She also clarified that there was enough extra oil output available with Saudi Arabia, Iraq and the UAE to enable India to forego the Iranian supplies.
Indian Oil Corp, the country's biggest refiner, aims to expand refining capacity 41 percent by 2016/17 and use more cheaper, heavy crude grades to boost profitability and offset revenues lost on domestic fuel sales. IOC and its subsidiary, Chennai Petroleum Corp, control 10 refineries accounting for about 31 percent of India's capacity of 4.3 million barrels per day (bpd).
Country's largest power producer NTPC may not be able to add at least 12,500 MW of generation capacity, if the coal supply issues are not resolved in the next couple of months, company said. Faced with non-availability of gas for its envisaged plants, the state-run power producer has already scaled down its target of having 70,000 MW generation capacity by the end of the current Plan period (2012-17) to 65,000 MW.
Efforts by the United Nations to ease rules for carbon-cutting projects may encourage investments in small-scale projects in solar water heaters and efficient cookstoves in Africa and Asia. The UN Clean Development Mechanism's Executive Board, regulator of the world's second-biggest carbon market by traded volume.
