KATMANDU, Nepal (AP) — India and Nepal are finalizing an agreement to provide the energy-starved Himalayan nation with electricity, India's foreign minister said at the end of a three-day official visit Sunday.
Nepal's communist insurgency, which lasted until 2006, and ensuing political instability have hampered the construction of new power plants, and Nepal could not afford to map out an energy strategy on its own.
WASHINGTON (AP) — Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.
Brazil, Russia, India, China and South Africa —the so-called BRICS countries — are "seeking "alternatives to the existing world order," said Harold Trinkunas, director of the Latin America Initiative at the Brookings Institution.
Indian power and fossil fuel companies are urging the nation's new government under Prime Minister Narenda Modi to use budget negotiations to push reforms in the industry to scale back subsidies and price controls, The Wall Street Journal reports.
HYDERABAD, India (AP) — A state-owned gas pipeline exploded and burst into flames Friday, killing at least 14 people, destroying homes and forcing the evacuation of neighboring villages in the southern Indian state of Andhra Pradesh, authorities said.
Flames rose more than 80 feet (25 meters) into the air, scorching the tops of coconut and palm trees and sending dense black clouds of smoke into the sky, witnesses said. Villagers ran out of their homes and crowded the streets. Scores of houses and shops were gutted, officials said.
Heat waves in India have left some 300 million people with little or no power, highlighting the obstacles the new government faces in updating the country's energy systems, The Wall Street Journal reports.
Indian Prime Minister Narendra Modi's goal to expand solar power in the nation may be derailed if the government moves ahead with his predecessor's plan for new duties on imported solar panels, Bloomberg reports.
Piyush Goyal, a chartered accountant and investment banker, has been appointed minister of state for power, coal and renewable energy and given independent powers by new Indian Prime Minister Narendra Modi, Bloomberg reports.
Proposals to tighten safety standards for crude carried by rail were published in the Federal Register Friday by the Pipeline and Hazardous Materials Safety Administration, kicking off a period for public comment that will run for 60 days, The Hill reports.
Environmental groups have submitted a petition to the U.S. Court of Appeals for the District of Columbia Circuit, charging an Environmental Protection Agency rule that sets a new deadline for states to submit plans to reduce fine particle pollution violates the Clean Air Act and asking for a review, E&E reports.
With a glut in the Atlantic basin and weaker demand, crude oil Friday dropped to its lowest settlements in months in New York and London despite continued crises in the Middle East and Ukraine. U.S. benchmark crude for September delivery finished the week more than 4 percent lower, falling 29 cents to close at $97.88 a barrel on the Nymex, its lowest settlement since February, while Brent crude tumbled $1.18 to $104.84, Reuters reports.
Although Libyan ports and oilfields have been reopening, sending oil prices tumbling globally, analysts warn that the worst violence to wrack the country since its 2011 civil war shows little sign of abating and the oil industry there remains at risk, The Wall Street Journal reports.
The three West Coast governors, all Democrats -- Jerry Brown of California, Jay Inslee of Washington and John Kitzhaber of Oregon -- have sent a letter to Interior Secretary Sally Jewell, expressing their opposition to including any oil or gas lease sales from their area in her department’s updated plan for the Outer Continental Shelf, The Associated Press reports.
Opening up more areas to offshore drilling -- including parts of the Pacific -- would generate around $160 billion over a period of less than 20 years, according to more than 160 Republican Congressmen who sent a letter to Interior Secretary Sally Jewell about her department’s updated plan for the Outer Continental Shelf, The Hill reports.
The latest round of sanctions against Russia over its policy in Ukraine, which would require permits for exporting oil technology to Moscow, poses a problem for Exxon Mobil, which has plans to drill for oil in partnership with state-owned Rosneft in the Arctic and elsewhere, National Journal reports.
The cost of battery technology will have to come down by more than half, but Tesla Motors chief Elon Musk – speaking to investors during a week when he announced partnership with Panasonic to build a battery gigafactory -- is confident that will happen and electric vehicles will achieve price parity with those running on gasoline within 10 years, E&E reports.
Kinder Morgan affiliate El Paso Natural Gas Co. has already begun engineering work on $529 million worth of upgrades to its pipeline system in the Southwest which will enable it to deliver promised natural gas to Mexico, agreed in a 21-year deal signed with the country’s electricity commission, FuelFix reports.
The BNSF Railway is some 811,000 short tons behind on coal deliveries to the Sherco power plant northwest of Minneapolis, Xcel Energy has told the Surface Transportation Board, warning that if the plant runs out of coal it will stop producing electricity, Platts reports.