Centre has proposed amendments “to formally incorporate higher ethanol-blended fuels”, Reuters reported, including provisions for “E85 fuel, a blend of 85% ethanol with petrol, and E100, which would allow vehicles to run on nearly pure ethanol”. It adds that in 2025, India ”achieved its target” of 20% ethanol blending and is “now looking to increase blending further to reduce costly imports of petroleum products.” The draft is now open for public comments, per the newswire.
India Weighs Induction Cooktops Subsidy Amid Iran War Energy Crisis
Economic Times reported that the government is “weighing a plan” to subsidise electric cooktops, “aiming to move at least some households from LPG to solar-powered electricity usage” amid energy market disruptions.
Centre is planning incentives for induction cooktops under the PM Suryaghar Muft Bijli Yojana. This initiative seeks to boost the adoption of electric cooking. Tax cuts and reduced import duties are also being considered to make these appliances more affordable and increase local production.
West Asia War to Trigger Biggest Energy Price Surge in Four Years as UAE Exits OPEC
The World Bank warned that the US-Israel war on Iran is set to trigger the biggest energy price hike in four years as the United Arab Emirates exited the OPEC and OPEC+, a heavy blow to oil exporting groups, reported Down to Earth.
The bank forecast energy prices to jump 24% in 2026, while overall commodity prices are expected to rise 16%, driven by soaring fuel and fertilizer prices and record-high prices for several industrial and precious metals.
India Boosts Fossil Output as Power Demand Hit Record Peak in Heatwave
India boosted coal and gas output as peak demand hit 256.1 GW over the weekend amid a heatwave. The Grid India data showed that India operated about 9.6 GW of gas-fired capacity and ramped up coal-fired generation to around 187 GW, reported Reuters.
A report by Bloomberg noted that rapid addition of solar capacity over the past decade, and the recent growth in coal-fired power, has enabled the nation to handle such demand surges, especially during the day. While the evening hours, when solar plants idle, remain a pressure point, just as the war curbed gas supplies that help meet night-time shortfalls. This is prompting the nation to double down on coal, promote hydropower and nuclear as alternative base load sources, and accelerate energy storage deployment.
Oil Prices Rise As No End to Iran War Seems in Sight
Oil prices rose about 3% on Tuesday as efforts to end the US-Israel war on Iran continues without any end in sight. This extended the previous sessions gain, with the crucial Strait of Hormuz waterway remaining shut, starving the markets of key Middle East energy supply, reported Reuters.
Brent crude futures for June jumped 2.76% to $111.22 a barrel by 0758 GMT, after gaining 2.8% to close the previous session at its highest since April 7.
EU to Ease Energy Blow With Tax Cuts and Gas Coordination
The European Commission has set out plans to cut electricity taxes and coordinate gas storage refill to ease the impact from the US-Israel War on Iran, reported Reuters. The Commission said it would amend EU rules to ensure electricity is taxed less than gas, and make it easier for governments to cut industries’ and vulnerable households’ electricity taxes to zero, to curb their bills.
The EU for now will avoid taking measures such as capping gas prices or taxing energy companies’ windfall profits, measures it used in 2022 when Russia cut gas supplies and prices hit record highs.
EU Reconsiders Objection to Arctic Oil and Gas Drilling
The European Union is reconsidering its opposition to new oil and gas drilling in the Arctic, Financial Times reported. The EU has been pushing for an international ban on new oil and gas drilling on environmental grounds since 2021, but is now weighing abandoning the proposal.
Russian Oil Imports Dip 20% in April Due to Ukrainian Attack on Terminals
India’s import of Russian crude fell 20% in April due to loading disruptions at a key Russian terminal after a Ukrainian Terminal and a tempering of the surge in March, which was marked by floating cargoes amid the Iran war and a temporary US sanctions waiver, reported ET Energyworld.
According to Kepler Data, Indian Oil Corp remained the largest buyer of Russian crude in last two months, with average imports of 670,000 barrels a day between April 1 and 26, accounting for about 42% India’s total Russian purchases and about 2.5 times Reliance Industries’ intake of 263,000 barrels per day.
BP Profits More Than Doubled This Quarter Driven by West Asia War Trading Boon
BP’s first quarter profit more than doubled year-on-year reaching $3.2 billion, its highest since 2023, according to the British oil major’s report on Tuesday. This beat expectations by 20% thanks to a boost in oil trading results following the West Asia war, reported Reuters.
The company reported underlying net income of $3.2 billion, exceeding expectations of $2.67 billion in a company-provided poll of analysts and rising sharply from $1.38 billion in the same quarter a year earlier.
About The Author
You may also like
Weeks Into the West Asia Crisis, How Is India Really Doing?
Iran Offers Navigation Support to India Amid US Blockade
Govt to Procure Crude, Gas From All Possible Sources Amid Global Energy Crisis
West Asia Shock Ripples Through India’s Kitchens, Factories, and Supply Chains
Kitchens Across India Switch to Simpler Meals Due to LPG Shortage