Electric vehicles and more efficient fuel technology will cut transportation demand for oil by 2040 more than previously expected, but the world may still face a supply crunch without enough investment in new production, the IEA said.
Natural gas is expected to overtake coal as the world’s second largest energy source after oil by 2030 due to a drive to cut air pollution and the rise in liquefied natural gas (LNG) use, the International Energy Agency (IEA) said.
The Asian Development Bank (ADB) would grant $13 million to the government-owned Energy Efficiency Services Ltd (EESL) to set up an energy efficiency revolving fund (EERF) under a tie-up announced.
Despite a strong rebound in the domestic currency and continued decline in crude oil prices, the key equity indices -- S&P BSE Sensex and Nifty50 -- traded on a negative note during the afternoon session of the trade.
Coca-Cola Co (KO.N) said it plans to launch two energy drinks under its namesake brand, its latest move to diversify away from sugary sodas.
Oil prices were stable, pressured as the United States became the world’s top crude producer after its output hit all-time highs, but supported as China remained on track to register another year of record imports.
The Nasdaq opened lower, dragged down by a more than 2 percent fall in Apple Inc shares, while a jump in energy stocks supported the S&P 500 and the Dow Jones industrial index.
Singapore-based energy firm Sembcorp's India unit has turned around to post a net profit of Singapore dollar 28.9 million (about Rs 153.3 crore) in the September quarter on better operational performance and commencing a new wind power project.
JSW Energy reported a 0.94 per cent fall in its stand-alone net profit on a year-on-year basis for the quarter ended September.
India is the biggest commitment country for the Asian Infrastructure Investment Bank (AIIB) which is interested in funding rural roads and transmission lines projects in the country, a top official of the Beijing-based multilateral development bank has said.