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<ul><li><keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> is the biggest consumer of ‘<keyword id="1700399" type="PERSON" weightage="20" keywordseo="petcoke">petcoke</keyword>’ in the world, consuming 27 million annually. </li><li>Due to the drastic increase in <keyword id="55910" type="ORGANIZATION" weightage="20" keywordseo="Air-Pollution">air pollution</keyword> levels, the government has decided to <keyword id="6354651" type="PERSON" weightage="20" keywordseo="ban">ban</keyword> the import of petcoke to be used as fuel. </li><li>But, there are still domestic producers of petcoke in India like Indian Oil Corp, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> and <keyword id="75662" type="DOMAIN" weightage="20" keywordseo="Bharat-Petroleum">Bharat Petroleum</keyword> Corp.</li></ul>India is the largest importer of <keyword id="1058899" type="ENTERTAINMENT" weightage="20" keywordseo="petroleum-coke">petroleum coke</keyword>, consuming <a href="https://www.pressreader.com/india/hindustan-times-delhi/20180419/281625305898083">nearly</a> 27 million tonnes per year. With an unthreatening name like ‘petcoke’, it’s hard to fathom that burning it as a fuel produces 11% more greenhouse gases than ordinary coal. That being said, the import of petcoke for use as fuel is being <a href="https://www.thehindubusinessline.com/markets/commodities/india-bans-pet-coke-import-for-use-as-fuel/article24716341.ece?homepage=true">banned nationwide</a>. There are pockets that can still use shipments that are intended to be used as feedstock in other industries. With 14 of the world’s most polluted cities in the world being in India, its a welcome initiative. The plans to implement such a measure have been in the work since the Supreme Court’s <a href="https://www.reuters.com/article/us-health-pollution-india-petcoke/india-govt-plans-to-propose-nationwide-ban-on-petcoke-as-a-fuel-sources-idUSKCN1ID095">order</a> in October last year that specifically banned the burning of petcoke in the national capital region of New Delhi, the most polluted city in the world according to WHO. Most of the petcoke comes from the US, where oil <keyword id="48128" type="DOMAIN" weightage="20" keywordseo="refineries">refineries</keyword> can’t find buyers for it back home so they export huge quantities of it overseas instead, to energy-hungry nations like India. Last year, one-fourth of US exports of ‘fuel grade’ petcoke came to India. All said and done, there’s still a loophole. The ban is specifically on <keyword id="35091" type="CITY" weightage="20" keywordseo="imports">imports</keyword>. And, while that may solve a great percentage of the problem, there are companies back home who produce it locally like Indian Oil Corp, Reliance Industries and Bharat Petroleum Corp. What do the numbers say? According to the Environmental Pollution Control Authority, petcoke produces nearly 17 times more sulfur than the limit that is in place for burning coal. And, in comparison to diesel, it is a whopping 1,380 times worse. In a country where 1.1 million people <a href="https://timesofindia.indiatimes.com/home/environment/pollution/india-reported-1-1-million-deaths-due-to-air-pollution-in-2015-says-a-global-study/articleshow/57145119.cms">die</a> due to ‘outdoor’ air pollution, being the dumping ground for the rest of the world isn’t a strategy that is saving on costs, the environment...or anything for that matter. India has enough problems with seasonal crop burning exercises and forests of cement, and petcoke is a problem that can easily be negated from the equation. And, it has been, partially anyway. The industries that are still allowed to use the product will be using it in its actual condition. No burning, hence, no pollution in the air.

World’s highest consumer of petroleum coke bans its import

<ul><li><keyword id="6484187" type="General" weightage="80" keywordseo="ril" source="Orion">RIL</keyword> is now entering its fourth capex cycle, says <keyword id="48670" type="General" weightage="50" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword>. </li><li>It has pledged a massive ₹75,000 crore (approx. $9.4 billion) investment into the new energy ecosystem. </li><li>RIL’s investment cycles provided 2-3x value creation for shareholders in the last two decades, says Morgan Stanley. </li><li>“We see up to $60 billion value creation in the new energy business by 2025,” the report says. </li><li>However, if refining margins are hit, <keyword id="10926" type="General" weightage="50" keywordseo="reliance" source="Orion">Reliance</keyword>’s annual debt will go up by $3 billion per annum and impact cash flows. </li></ul>Reliance has always gone big – and every capex cycle it undertakes is bigger and ‘newer’ than the last. The oil to telecom to retail major is now entering into the fourth capex cycle, according to Morgan Stanley, after the company pledged a massive ₹75,000 crore (approx. $9.4 billion) investment into a new energy ecosystem. In his own words, RIL’s chairman <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> called it the most ambitious ever, at the 45th annual general meeting. In its latest report, Morgan Stanley says that every time RIL re-imagined its business, it has executed above investor expectations. “Investment cycles have unwound with around two to three times value creation for shareholders in the last two decades with every decade seeing around $60 billion in market cap creation,” the report says. This fourth cycle will also produce higher value quickly as its new energy pivot is integrated with its chemicals business and its own large captive use. “RIL’s integrated approach on solar panels and mobility/storage batteries, and focus on providing an alternative to China does stand out and we see up to $60 billion value creation in the new energy business by 2025. We raise our base case new energy valuation to $32 billion to account for quicker monetization,” the report says. RIL, which is a net energy consumer at Jamnagar, will make the green choice by putting more solar and green hydrogen projects that can help reduce its own energy costs. Moreso, it will also focus on producing high value added chemicals from its petcoke gasifiers. It will also enter the engineering, procurement and construction business for selling panels and sell panels with solutions on the back of multiple investments in technology to global customers. “We estimate the business to contribute to around $1 billion in EBITDA by 2027,” the report said. How did the past RIL capex cycles work? Starting in 1997 with Jamnagar refinery commissioning, RIL has gone through three important capex cycles so far. These pertain to gas fields at KGD6, the Jamnagar expansion in 2012 and the great re-entry into telecom. While they did create value, it did not come at no cost to the organization in the form of write-offs, impairments and ‘challenged capex’. “In every capex cycle, RIL also had its share of challenges, such as the write off of investments for petcoke gasifiers, telecom spectrum and upstream shale investments,” the report said. RIL had invested in three shale gas assets in 2010 and 2013 but exited them in 2017. In addition to investing in KGD6 block in the Krishna Godavari which is producing over 25 mmscmd of gas, RIL had also invested in Cauvery and Mahanadi basins over the years. RIL also had to rejig its investments in retail between 2006-2010 and emerged stronger in 2015-16, the report said. RIL capex that was challenged <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Challenged capex </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY03-FY10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.5 billion upstream exploration and production -Includes $2.7 billion impairment taken on shale investments </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY12-FY16 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8 billion capex into petcoke gasifier </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2 billion spectrum writeoff </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4 billion impact on petcoke gasifier value during hiveoff </td></tr></tbody></table>Source: Morgan Stanley Telecom and retail businesses are ‘settling’ Morgan Stanley believes that the timing for new energy investments is ripe. Its other businesses are unwinding and expected to unwind faster in the future. After kick starting the business with ‘free data’ and still retaining the tag of providing the cheapest data offerings, <keyword id="2003276" type="General" weightage="50" keywordseo="jio" source="Orion">Jio</keyword> is on the verge of reaping benefits. Telecom business has become a three-player market and the report expects the average revenue per user to grow by over 50% over the next four to five 5 years. That means Jio’s revenues can expand to 1.6 times its FY22 levels. It also expects its 5G investments to yield quicker monetization than 4G did. The biggest advantage that new energy investments bring is the global and national support as India pledges to move towards Net Zero emissions by 2070. However, green hydrogen, solar panels and battery technology is a fast evolving sector with new changes afoot. “Policy support in this cycle is also increasing for the new energy vertical and the government recently approved a bill in parliament to raise the use of alternative fuels, provide incentives for investments in new energy and start carbon trading also points to rising total addressable market for RIL – something we saw less of in previous cycles,” the report said. But there is a catch. For its new energy business to run smoothly, RIL needs its refining business to hold steady. Refining margins fund nearly a third of RIL's investment plans and if margins were to decline to cycle low as the business is cyclical — it will reduce operating cash flows by 20% and annual debt would rise by $3 billion, as per Morgan Stanley’s calculations. “While cycle low gross refining margins are not sustainable as there would be a supply response, we do see a net impact of 15% hit to our net asset value as RIL would see its multiple de-rate as well,” the report said. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/jamnagar-is-going-green-but-on-the-back-of-its-oil-and-chemicals-business/articleshow/93859168.cms">Jamnagar is going green but on the back of its oil and chemicals business</a> <a href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-overly-ambitious-growth-plans-can-spiral-into-a-massive-debt-trap-fitch/articleshow/93725014.cms">Gautam Adani’s overly ambitious growth plans can spiral into a massive debt trap: CreditSights report</a> <a href="https://www.businessinsider.in/finance/news/worst-of-times-can-also-be-the-best-of-times-says-anand-mahindra/articleshow/93376032.cms">Worst of times can also be the best of times, says Anand Mahindra</a>

RIL’s fourth capex cycle will unwind with $60 billion value creation, says Morgan Stanley

<keyword id="6378916" type="General" weightage="100" keywordseo="cement" source="Orion">Cement</keyword> companies are planning to hike the price between Rs 10 and Rs 30 per bag in November after a increase of about Rs 3-4/bag last month, said <keyword id="141615" type="General" weightage="80" keywordseo="emkay-global" source="Orion">Emkay Global</keyword> Financial Services Ltd. Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said. "Cement companies are attempting price hikes of Rs10-30/bag across regions in November 22. Absorption of these price hikes will be uncovered over the next few days," said Emkay Global. Industry volumes likely to have declined by a high single-digit YoY and a low double-digit MoM, in October 22, owing to a high base, as the festive season was spread across October-November last year. According to the report, a delayed exit of monsoons and labour shortage owing to festive holidays impacted demand in October 22. The demand is expected to improve in upcoming weeks, with all major festivals ending and given the onset of a busy construction season. The cost pressure is expected to ease in coming quarters for the industry players and the industry margins are expected to bottom out in Q2, with peaking of costs, higher exit of cement prices and pick-up in construction activities in coming quarters, said Emkay Global. The international petcoke prices are down by about 30 per cent from the peak of $195/tonne. Further the dip in the fuel prices are expected to provide cost savings of at least Rs 150-200/tonne from Q3FY23, Emkay Global said. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/myositis-the-condition-affecting-actress-samantha-prabhu-is-more-common-among-adult-women-say-doctors/articleshow/95304784.cms">Myositis – the condition affecting actress Samantha Prabhu – is more common among adult women, say doctors</a> <a href="https://www.businessinsider.in/india/news/delhi-pollution-air-quality-severe-for-3rd-straight-day-noida-records-529-aqi-gurugram-at-478/articleshow/95313876.cms">Delhi pollution: Air quality 'severe' for 3rd straight day; Noida records 529 AQI, Gurugram at 478</a> <a href="https://www.businessinsider.in/business/corporates/news/kv-kamath-appointed-independent-director-of-reliance-industries-jio-financial-services/articleshow/95313728.cms">KV Kamath appointed independent director of Reliance Industries, Jio Financial Services</a>

Cement companies plan price hike of ₹10-30 per bag

Shares of <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited have outperformed the broader market benchmark indices over the past one month. During the said period, the shares of the company rose nearly 14 per cent against a rise of little over 2 per cent in the benchmark Sensex index. The rally in share prices for the Indian company comes amidst volatility in the global financial markets amid geopolitical war and skyrocketing crude oil prices.Rising gas and fuel prices are expected to bore well for the Indian oil-to-chemical company. Coming to its earnings, it had posted a 41.5 per cent rise in net profit during the Q3FY22 quarter, helped by an uptick in refining and retail businesses, according to reports. Also, an upward revision in prepaid tariffs by domestic telecom majors is expected Ato raise average revenue per user (ARPU) of the telecom operators. In November 2021, Reliance along with Vodafone Idea and Bharti Airtel raised their prepaid tariffs by around 20 per cent each, respectively. Earlier this month, Nasdaq-listed integrated manufacturing solutions company Sanmina Corporation and Reliance Strategic Business Ventures, a wholly-owned subsidiary of Reliance Industries, have entered into an agreement to create a joint venture through an investment in Sanmina's existing Indian entity named Sanmina SCI India in order to create a world-class electronic manufacturing hub in India, in line with the country's 'Make in India' vision. At 2.01 p.m., shares of Reliance Industries traded at Rs 2,598.00, up 0.8 per cent from the previous session. Global investment banking firm Morgan Stanley has set a share price target for the company at Rs 2,926, with an "overweight" rating. "Multiple positive triggers are lining up for RIL to outperform. Interestingly, these triggers are in areas where investors have been most skeptical about new energy with battery incentive wins, refining margin pickup and asset monetisation for petcoke gasifiers," it said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms" style="">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance</a> <a href="https://www.businessinsider.in/stock-market/news/tata-consumer-products-axis-bank-mm-and-other-top-stocks-to-watch-out-on-march-25/slidelist/90432431.cms" style="">Tata Consumer Products, Axis Bank, M&amp;M and other top stocks to watch out on March 25</a> <a href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hike-the-third-time-this-week-in-india/articleshow/90433724.cms" style="">Petrol and diesel prices hiked for the third time this week in metro cities</a>

Reliance Industries outshines benchmark index, shares rise 14% in 1 month

<keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> took over as the Chairman and Managing Director of Reliance Industries Limited (RIL) after the demise of his father and Reliance founder, <keyword id="6418409" type="General" weightage="20" keywordseo="dhirubhai-ambani" source="Orion">Dhirubhai Ambani</keyword> on July 6, 2002. In 2022, he completes two decades at the helm of Reliance Industries. In these 20 years, the company has achieved a consistent strong double-digit growth across revenues, profits, net worth, assets as well as market capitalisation. Reliance's market capitalization grew at an annualized rate of 20.6 per cent in last 20 years from Rs 41,989 crore in March 2002 to Rs 17,81,841 crore in March 2022. Reliance's revenues grew at an annualized rate of 15.4 per cent from Rs 45,411 crore in FY 2001-02 to Rs 792,756 crore in FY 2021-22. Reliance's net profit grew at an annualized rate of 16.3 per cent from Rs 3,280 crore in FY 2001-02 to Rs 67,845 crore in FY 2021-22. Reliance's exports grew at an annualized rate of 16.9 per cent from Rs 11,200 crore in FY 2001-02 to Rs 254,970 crore in FY 2021-22. Reliance's total assets grew at an annualized rate of 18.7 per cent from Rs 48,987 crore in March 2002 to Rs 14,99,665 crore in March 2022. Reliance's net worth grew at an annualized rate of 17.0 per cent from Rs 27,977 crore in March 2002 to Rs 645,127 crore in March 2022. Reliance added Rs 17.4 lakh crore to investor wealth during these two decades, which is an average of Rs 87,000 crore every year. Reliance started several new businesses in these two decades. <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> started operations in 2016, <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> started operations in 2006, Reliance's E&amp;P business made the first hydrocarbon discovery in late 2002 and production started in 2009. Reliance's traditional businesses of refining and petrochemicals too flourished and expanded many-fold in last two decades. In 2002, Reliance had a single refinery at Jamnagar. A second 100 per cent EOU refinery was set up by 2009 nearly doubling RIL's refining capacity with unique capability to convert the worst of crudes into the best of exportable fuels. With this, Jamnagar became world's largest single location refining complex. The J3 expansion over 2012 to 2016 added some of world's largest and most unique downstream units. For example, Reliance set up world's largest Refinery Off-Gas Cracker at Jamnagar. It also added world's largest petcoke gasification unit. It also set up world's first-ever virtual pipeline across the world to import ethane from the US to diversify feedstock. <keyword id="6360465" type="General" weightage="20" keywordseo="Reliance-Foundation" source="Orion">Reliance Foundation</keyword>, backed by Reliance Industries, came up in 2010 to spearhead the company's philanthropic initiatives under the leadership of Nita Ambani. Reliance Foundation has touched the lives of more than 6.3 crore people in India through its various initiatives like rural empowerment, nutrition security, ecological conservation, education, and sports until 2022. Reliance Foundation is India's biggest corporate social responsibility initiative by reach, as well as by spend. After the launch of Jio, India became the data capital of the world and the cost of data/GB fell from Rs.500 to Rs 12. India's ranking in Broadband data consumption moved from 150 in 2016 to No.1 in 2018 thanks to Jio. Thanks to Reliance Retail, today residents of Tier II and III towns in India have access to similar shopping experience that is enjoyed by those living in the metro cities. Indians had to travel to Dubai or Singapore to shop global brands like Armani, Gas, Diesel etc. Now Reliance Retail has brought them all to India through partnerships. India now has a world-class convention centre in Mumbai, with the world's best infrastructure for international exhibits, conventions and meetings. The Jio World Centre will host the International Olympic Committee's next session in 2023. Reliance Industries set the foundation for New Energy Business committing over Rs 75,000 crore investment in three years to set up five uniquely integrated Giga Factories at Jamnagar with the world's latest technology. This will have first-of-its-kind 'quartz-to-module' solar panel facility. The ultimate aim is to emerge world's lowest cost producer of solar energy and green hydrogen. Reliance has set a target to become Net Carbon Neutral by 2035, contributing to India's net carbon zero mission. Reliance will start 10GW of solar PV cell and module factory by 2024, to be scaled up to 20GW by 2026. By 2025, RIL plans to generate its entire round-the-clock (RTC) power and intermittent energy for Green Hydrogen from captive solar power plants. Reliance set a record of capital fund raising during the most difficult period of Covid lockdowns in 2020-21. It raised more than Rs 2.5 lakh crore through Rights Issue, and minority stake sale in Jio Platform and Reliance Retail Ventures to global marquee investors. During FY2021, Reliance was the single-largest FDI generator for India. Reliance is leading India's Sustainability solutions in the petchem and polyester sector. It is actively supporting India's textile value chain in adopting sustainable, circularity concepts Reliance Industries brought bp, one of the global petroleum industry leaders, as a partner in its Indian fuel retailing business. Reliance Mobility Solutions has brought latest technology and offerings for consumers at petro-retail outlets through the Jio-bp brand. It aims to offer new experience in buying fuel with high quality service, and making the retail outlets future-ready with charging and battery swap facilities. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nifty-to-reach-19500-sensex-64500-by-dec-2023-emkay-global/articleshow/96573148.cms">Nifty to reach 19,500, Sensex 64,500 by Dec 2023: Emkay Global</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/indias-agrochemicals-industry-to-see-double-digit-growth-in-fy23-and-fy24-on-strong-exports-boost-says-crisil/articleshow/96572842.cms">India’s agrochemicals industry to see double-digit growth in FY23 and FY24 on strong exports boost, says Crisil</a>

It's been 20 years of Mukesh Ambani's leadership, and here's how RIL grew

New Delhi, Feb 6 () Dalmia Bharat consolidated net profit dipped 16 per cent to Rs 26 crore in the quarter ended December 2019. The company had posted a consolidated net profit of Rs 31 crore in the quarter ended on December 31, 2018, a BSE statement said.Total revenue of the company fell to Rs 2,486 crore in the third quarter from Rs 2,228 crore a year ago."During the quarter, there was a price reduction witnessed across most markets in the country, with east witnessing a slightly higher decline. If the recent demand growth continues to give positive indications, we expect that the adverse volatility of pricing could be restricted from these levels," the company said.It also said, "On cost side, the variable cost for the company has improved Y-o-Y (year-on-year) on account of power and fuel. This was on the back of favourable petcoke prices during the quarter. On a Y-o-Y (year-on-year) basis, freight costs have remained flat."The board of directors of the company in its meeting held on February 6, 2020 at New Delhi, approved interim dividend of Rs 2 (100 per cent) per equity share of Rs two each for 2019-2020. KKS MKJ

Dalmia Bharat net down 16 pc to Rs 26 cr; board okays 100 pc interim dividend

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, The Centre's new directive for industrial units in Delhi to switch over to PNG (piped natural gas) owing to the high levels of pollution is a positive development for <keyword id="747943" type="ORGANIZATION" weightage="20" keywordseo="city-gas-distribution">city gas distribution</keyword> (CGD) companies, ICRA said in a note. Accordingly, the Ministry of Environment, Forests and Climate Change on December 22, identified about 1,644 industrial units spread across 50 industrial areas in Delhi to switch over to PNG owing to the high levels of pollution. In addition, <keyword id="111875" type="COMPANY" weightage="20" keywordseo="Delhi-Pollution-Control-Committee">Delhi Pollution Control Committee</keyword> (DPCC) was also directed to inspect and identify the industries using unapproved fuels and to take stringent penal action in case of non-compliance. Besides DPCC, <keyword id="98830" type="DOMAIN" weightage="20" keywordseo="Indraprastha-Gas">Indraprastha Gas</keyword> and Delhi government were also asked to work in close coordination with the industrial units so as to target the completion of infrastructure work and switch over to PNG by January 31, 2021. As per the ICRA note, this directive to compulsorily switch to PNG in the NCR region is a positive development for CGD companies, both from an immediate as well long-term perspective. "The directive by the ministry would provide a boost to the industrial volumes of incumbent IGL," said Prashant Vasisht, Vice-President and Co-Head, Corporate Ratings, ICRA. "This would also necessitate an accelerated expansion of network in the industrial clusters. Additionally, with several cities in northern India featuring among the top 20 most polluted cities globally, such as Jodhpur, Jind, Gurugram, Agra, Ghaziabad, Lucknow and Varanasi, other state pollution control boards may follow suit which would benefit the incumbent CGD entities in these cities." "Accordingly the move by the ministry accelerates the trend of switch to cleaner industrial fuels which began with the ban on use of pet-coke and furnace oil in October 2017 and is only expected to gather pace going forward considering the persistent high levels of pollution across northern India." However, the <keyword id="10498751" type="UNKNOWN" weightage="20" keywordseo="current-high-spot-gas-prices">current high spot gas prices</keyword> may lead to some resistance from the industrial consumers relying on cheaper alternate fuels, the note said. The Asian spot prices of LNG had declined below $2 per mmbtu in May 2020, owing to demand destruction due to outbreak of coronavirus amid increasing global supplies. In recent weeks, spot LNG prices have increased to nearly $10-11 per mmbtu due to increase in oil prices, supply issues in Australia and Malaysia, a colder than expected winter and delays in the Panama Canal. Nevertheless, ICRA expected the supply overhang amid demand inflicted by Covid-19 to keep prices muted over the longer term. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

Mandatory switch to Pipe Natural Gas for Delhi industries credit positive for city gas distribution companies, says ICRA

New Delhi, Jul 1 () India's fuel sales in June reached 88 per cent of the pre-COVID-19 levels as easing of lockdown restrictions is reviving economic activities, the government said on Wednesday. "The sales of petroleum products in India, the world's third-biggest oil consuming nation, had in April fallen to the lowest since 2007, due to the nationwide lockdown, necessitated to prevent the spread of COVID-19 pandemic," an official statement said. Demand, however, began to revive in May and in June reached 88 per cent of pre-COVID levels, it said. "India's overall petroleum products consumption, which had nosedived in last week of March and April this year, is now steadily getting to its pre-lockdown levels in June, as emanating from the PSUs' (IOC, BPCL, and HPCL) sales figures," it said. At 11.8 million tonnes of consumption, fuel demand in June was 88 per cent of 13.4 million tonnes consumption in June 2019. Petrol consumption of 2 million tonnes in June was 85 per cent of last year's levels, while diesel at 5.5 million tonnes was 82 per cent of normal levels during this month. "With the timely arrival of monsoon and pick-up in agricultural activities during Kharif season, there was marked acceleration in diesel consumption and gained 96 per cent on April volumes of 2.8 million tonnes," the statement said. Demand for LPG fuel continues to rise, with robust growth of 16.6 per cent in June over last year. ATF consumption registered 4-times volume increase from April levels. "Demand of industrial fuels such as sulphur, petcoke, and naphtha reached to levels of 89.3 per cent, 118 per cent and 120.2 per cent respectively, while marine fuels reached to a level of 138.5 per cent vis-a-vis corresponding period last year," it said. Similarly, with the restart of major road construction projects, bitumen consumption has registered a solid growth of 32 per cent in June. The crude oil throughput of state-owned refineries has already crossed 85 per cent as on date, from as low as of 55 per cent in the beginning of April. "Overall the consumption of all petroleum products has significantly increased from April level of 49 per cent (of normal) to 88 per cent level in June," the statement said. April's fuel consumption was 6.6 million tonnes as compared to 13.4 million tonnes a year back. ANZ ABM

Fuel demand gradually returning to pre-COVID levels: Govt

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP Photo/Jeff McIntoshMining trucks carry loads of oil laden sand at the Albian Sands oils sands project in Ft. McMurray, Alberta, Canada.</div></div></div>President Donald Trump signed a number of executive orders Tuesday to <a href="http://www.businessinsider.com/activists-incensed-by-trumps-revivival-of-dakota-access-and-keystone-xl-pipelines-2017-1">advance construction of the Keystone XL Pipeline and Dakota Access Pipeline</a>.Activists had previously successfully fought both pipelines - the protest at Standing Rock, which was led by the Native American community, <a href="http://www.businessinsider.com/standing-rock-pipeline-protests-are-massive-2016-12">made headlines in 2016</a>.The Keystone XL Pipeline is slightly older news - Obama <a href="https://www.nytimes.com/2015/11/07/us/obama-expected-to-reject-construction-of-keystone-xl-oil-pipeline.html">blocked its construction in 2015</a> - but it's worth remembering why it made environmentalists so worried. <h2>What is the Keystone XL Pipeline?</h2>The Keystone XL Pipeline would carry Canadian tar sand oil 875 miles from Morgan, Montana to Steele City, Nebraska.Built by TransCanada, it would allow the company to move its raw product from tar sand extraction sites in Alberta, Canada to refineries in Texas.<h2>Tar sand oil is the dirtiest fossil fuel on the planet</h2>Tar sand oil does not sit in a cavern underground, waiting for someone to stick a long straw in and suck it up. Instead, the oil is mixed up with the dirt in Alberta's boreal forest (underneath a bunch of trees) which makes extracting it very difficult. <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP Photo/Eamon Mac MahonThis June 25, 2008 photo shows an aerial view of Alberta's Athabasca river running through the oil sands developments in Canada. Residents of Fort Chipewyan, 170 miles downstream of the projects, are worried that toxins from the ponds seep into the river and drift into their drinking water.</div></div></div>In order to retrieve all that oil, Alberta's oil companies strip away the local forest then dig the sand out of the ground. But the clumpy, sandy mixture would constipate an 875-mile pipeline, so the companies mix it with <a href="https://www.nrdc.org/experts/danielle-droitsch/new-tar-sands-water-policy-government-alberta-favors-industry">water diverted</a> from the Athabasca river. Each barrel of bitumen (that's the technical term for the tar sand) gets soaked in 2.4 barrels of water. Once it's used, that water is too poisonous to return to the river, so adds up to billions of gallons of waste. The contaminated liquid ends up sitting in "tailing ponds," where it leaks into the local environment and <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2679626/">increases the rate of cancer</a> among people who live nearby.Meanwhile, the Athabasca River only has so much water to offer, and there's<a href="https://www.nrdc.org/experts/danielle-droitsch/new-tar-sands-water-policy-government-alberta-favors-industry"> a real threat that the oil sand mines will use it all up</a>.<h2>The climate risk is severe</h2>The biggest problem with tar sand is also the reason people who make money from the fossil fuel industry love it: There's a lot it.If companies extract all the oil that today's technology allows them to, burning it would add 22 billion metric tons of carbon to the atmosphere. If technology improves to the point where companies can extract every drop of oil bound up in bitumen, that total <a href="https://www.scientificamerican.com/article/tar-sands-and-keystone-xl-pipeline-impact-on-global-warming/">would increase to 240 billion</a>. The Alberta tar sand project alone could lead to <a href="https://www.scientificamerican.com/article/tar-sands-and-keystone-xl-pipeline-impact-on-global-warming/">a global temperature increase of 0.4 degrees Celsius</a>.<h2>Tar sand spills are harder to clean up</h2>Oil pipeline spills are bad, and <a href="http://www.citylab.com/weather/2016/11/30-years-of-pipeline-accidents-mapped/509066/">they happen all the time</a>. They poison drinking water, pollute farmland (which in turn kills farming jobs), and wreck local environments.But tar sand pipeline spills are worse.To pump tar sand crude along a pipeline, extractors mix in natural gas liquids to act as a kind of crude laxative.In 2010, that bitumen-natural gas mixture spilled from a Canadian-owned pipeline into the Kalamazoo River in Michigan. The liquefied natural gas turned to gas and blew through nearby neighborhood, forcing residents to evacuate. The bitumen sank to the bottom of the river, poisoning<a href="https://thinkprogress.org/enbridge-agrees-to-pay-75-million-for-massive-kalamazoo-river-tar-sands-spill-76ddd8a7698#.qpgwv1lvb"> 40 miles of water and 4,435 acres of coastline</a>. Five years and $1.2 billion later, <a href="https://thinkprogress.org/michigan-river-remains-poisoned-by-oil-five-years-after-massive-spill-34d024b5a11d#.200p87z3w">it still hadn't been cleaned up</a>.<h2>Even if everything goes as planned, there will still be environmental impacts</h2>Tar sand extraction and refinement is a dirty process, even when there are no spills. In addition to the poisonous water sitting in Alberta, the refinement process produces a black dusty substance called "petcoke." That petcoke piles up in places like Southeast Chicago, waiting to be burned as a cheaper, less efficient coal substitute. And on windy days, those piles get <a href="https://www.nrdc.org/stories/dirty-battle-chicagos-backyards">blown around</a>, coating anything nearby in black dust.If the Keystone XL Pipeline does get built, it will fall to the Environmental Protection Agency (EPA) to protect Americans from all of these risks. At the moment, however, the EPA isn't issuing any new grants or contracts, and is not responding to inquiries from the press. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/map-major-us-oil-gas-energy-pipelines-2015-12">Animated map shows all the major oil and gas pipelines in the US </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="NnaWRleTrxSh1MYgEFvTy9yUpzJwBOMZ" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "petcoke" and got 9 results

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Mandatory switch to Pipe Natural Gas for Delhi industries credit positive for city gas distribution companies, says ICRA

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Fuel demand gradually returning to pre-COVID levels: Govt

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The Keystone XL Pipeline, which Trump just approved, will carry the dirtiest fossil fuel on the planet

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