News Update

  • Coal Secretary: Coal India production will hit 1.25 billion tonnes in four years

    India's largest mining company, Coal India Ltd. will hit production volumes of 1.25 billion tonnes in the next four years, India's Coal Secretary Amrit Lal Meena told CNBC-TV18 in an exclusive interaction. As per a draft note of the Niti Aayog dated March 21, 2022, plans were being made to increase Coal India's production to one billion tonnes per annum by financial year 2025. For the current financial year, Coal India has achieved 68% of its full-year production target of 780 MT.

  • Coal India extends FSA tenure to 10 years for non-regulated sector

    State-run Coal India has begun the latest tranche of the linkage auction to the non-regulated sector (NRS), extending the tenure of fuel supply agreement (FSA) to 10 years from the earlier five years. Beginning with the seventh tranche of the auction, CIL has proactively increased the tenure of FSA to ensure long term assurance of coal supply to the non-regulated sector (NRS) through linkage auction, the coal behemoth said in a stock exchange filing on Tuesday.

  • India’s thermal coal imports rise in 2023

    India’s thermal coal imports, including anthracite, rose 6 per cent in 2023, aided by a jump in intake by power plants following a government advisory to blend 6 pc imports in their total coal usage to meet elevated electricity, a report quoting the government source said on Tuesday. The metallurgical coal imports, including PCI, also went up 5 pc, the report said, attributing this to a steep rise in crude steel production, amid a jump in the country’s steel demand.

  • Iron ore exports, coking coal imports lead to a 5% increase in traffic across India’s ports in April – Dec

    India’s major ports saw a 5 per cent rise in traffic during the first nine months of the fiscal (April – Dec), driven by the rising export of iron-ore and increased import of coking coal (used mostly in steel-making). The provisional data of the Indian Ports Association shows that cargo handled across the ports increased to 605.15 million tonnes (mt). Cargo handled in the same period last year was 576.70 mt.

  • India plans to import coking coal from Russia to help steel companies: Sources

    India plans to form a consortium of state-owned companies to facilitate coking coal imports to help domestic steel companies tide over shortages, two government sources said. Stung by lower supplies and higher prices of coking coal, leading Indian steel companies have petitioned the government to help boost supplies of the key steel-making raw material.

  • India will continue to rely on coal to meet its rising electricity demand through 2026: IEA

    India’s electricity demand will outpace China’s and have the world’s fastest growth rate by 2026, the latest projections by the International Energy Agency (IEA) have indicated. Coal-fired generation is expected to meet 68 per cent of that demand by 2026. Prime Minister Narendra Modi had announced the target to achieve net zero by 2070 in 2021. The IEA report titled Electricity 2024, though, noted that coal will continue to dominate the Indian power sector through 2026. This, despite an expected fall from 74 per cent of total electricity generation in 2023.

  • Proposed tariff regulations support new power-sector investments: S&P

    The proposed power-tariff review regulations for the five-year tariff period starting FY25 support new power-sector investments and credit profiles of entities in the sector, S&P Global Ratings said on Tuesday. The assured regulated returns with full cost pass-through continue as the Central Electricity Regulatory Commission in the draft tariff regulations kept the return on equity for thermal units unchanged at 15.5%.

  • Indigenising energy: Decarbonisation is a necessary long-term goal, but medium-term plan must include hiking production

    The government has set an ambitious target to eliminate imports of coal varieties that can be extracted from indigenous mines by FY26, after having cut imports’ share in domestic consumption of the fuel from 26% in FY20 to 21% in the current fiscal. End-use restrictions for captive coal mines are no longer there, and more and more mines, including partially explored ones, are being auctioned off to the private sector. On its part, Coal India has substantially increased its production in recent years, and there is a promising shift in focus to tech-intensive, but highly-rewarding underground mining.

  • World’s two largest coal consumers won’t be weaning off the fossil fuel anytime soon

    China and India’s growing economies will continue to fuel demand for coal even as they set ambitious renewable energy targets, according to experts. While China is the world’s largest energy consumer, India is ranked third globally, and both countries are the top consumers of coal as they strive to fuel economic growth. China’s share of global electricity consumption, 60% of which is generated by coal, is set to jump to one-third by 2025, compared with a quarter in 2015, according to projections by energy watchdog International Energy Agency.

  • Suez traffic drops 42pc after Houthi attacks: UN

    The volume of commercial traffic passing through the Suez Canal has fallen more than 40 percent in the last two months after attacks by Yemen's Houthi rebels, according to the United Nations, raising concerns for global trade. The Iran-backed Houthis say they are targeting what they consider Israeli-linked commercial and military shipping in the region in solidarity with Palestinians in Gaza, pushing some cargo carriers to take longer and more expensive routes to avoid attack.

  • U.S. coal exports account for larger share of a shrinking market

    As domestic consumption of U.S. coal declines in the near term, we expect exports to account for a larger share of total U.S. coal consumption, according to our recently released Short-Term Energy Outlook (STEO). We expect U.S. coal consumption will total 482 million short tons (MMst) in 2024, 29% less than in 2019. We expect that exports will make up 19% of total demand in 2024 and 21% in 2025, up from a share of 14% in 2019 because of decreasing domestic consumption, especially from the electric power sector.

  • Index of Eight Core Industries spikes by 3.8% in Dec ’23

    The combined Index of Eight Core Industries increased by 3.8% in December 2023 as compared to the Index of December 2022, data released by the Ministry of Commerce & Industry said on Wednesday. In November, the index of eight core industries was 7.9%. The production of Coal, Natural Gas, Steel, Fertilisers, Refinery Products, Cement and Electricity recorded positive growth in December 2023.

News Update