The need for hydrocarbon focus
Business Standard|July 02, 2024
Countries across the world have realised that the transition from dirty fuels to clean energy is not a neat, linear path but a bumpy journey with plenty of rough patches and sudden diversions.
PROSENJIT DATIA

While they invest heavily in new, clean energy capacities, their dependence on older, "dirty" fuels is not going to go away anytime soon.

This is particularly true for India. It is the fastestgrowing big economy but it has a long way to go before it can be considered a developed (or more accurately, a high-income country), and its energy needs are growing exponentially. Over the next few decades, as it adds rapidly to its solar and wind capacities, and builds up a clean energy storage ecosystem (https:// mybs.in/ 2dWXEjg?1719845918), it will also find its demand for dirty fuels like coal (https://mybs.in/ 2cK1pQD?1719846001) and hydrocarbons (crude and natural gas) increasing at a rapid pace.

In oil, India is already the thirdlargest importer and consumer in the world, and the International Energy Agency (IEA) projects that India's demand for hydrocarbons (oil and gas) will keep rising rapidly until 2050, though coal demand may come down by then. Given that India imports over 80 per cent of its oil requirements and 50 per cent of its natural gas requirements currently, this leaves the country and its economy particularly vulnerable to any disruptions in the market. What is worse is that oil production in the country is falling because of ageing wells, which are yielding less crude than before. Over the next few years, oil production in India is likely to fall further unless new fields are discovered and production starts from these.

Esta historia es de la edición July 02, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición July 02, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BUSINESS STANDARDVer todo
Business Standard

Scrapping NEET-UG not rational, Centre tells SC

The Centre on Friday told the Supreme Court that scrapping the National Eligibility-cumEntrance Test-Undergraduate (NEET-UG)-2024 examination would not be a rational step in the absence of proof of largescale breach of confidentiality of the exam.

time-read
1 min  |
July 06, 2024
Business Standard

Lone Fox in the twilight

For readers and non-readers alike, Ruskin Bond has been a beacon of Indian literature for children, especially in the short-story genre.

time-read
3 minutos  |
July 06, 2024
Business Standard

Veg thali price up 10% in June on costlier veggies

The average cost of a vegetarian thali in India rose by 10 per cent in June due to an increase in prices of onion, potato, and tomato, a report by Crisil said on Friday.

time-read
1 min  |
July 06, 2024
Stay calm, sleep well: PM to Paris-bound athletes
Business Standard

Stay calm, sleep well: PM to Paris-bound athletes

Neeraj Chopra shared his fitness concerns, P V Sindhu talked about the significance of selfbelief and Nikhat Zareen could barely hide her excitement about being a first-time Olympian during a light-hearted interaction with Prime Minister Narendra Modi, who advised the Paris-bound group to stay calm and sleep well for best results.

time-read
1 min  |
July 06, 2024
Content marketing before its time
Business Standard

Content marketing before its time

The 1976 film Manthan, based on the origin of the Gujarat Co-operative Milk Federation Marketing (GCMMF-Amul Dairy), was recently in the news.

time-read
3 minutos  |
July 06, 2024
Cashless denied? Swipe card, go for secured loans
Business Standard

Cashless denied? Swipe card, go for secured loans

A recent survey by Policybazaar.com found that many people with health insurance policies face challenges when denied the cashless facility and forced to make upfront payments at hospitals.

time-read
2 minutos  |
July 06, 2024
Muted Q1 performance for listed media majors
Business Standard

Muted Q1 performance for listed media majors

Polls, cricket, lack of big-budget movies hit broadcasters' showing

time-read
3 minutos  |
July 06, 2024
Business Standard

Earnings upgrade, valuation uptick for consumer majors

Analysts are turning their attention to the fast-moving consumer goods (FMCG) sector for several reasons.

time-read
2 minutos  |
July 06, 2024
HDFC Bank shares drop 5% on weak 01
Business Standard

HDFC Bank shares drop 5% on weak 01

HDFC Bank shares plunged 4.55 per cent on Friday to close at 1,648.10 on the BSE, after the bank reported a sequential decline in both advances and deposits for the quarter ending June 2024 (Q1FY25).

time-read
2 minutos  |
July 06, 2024
Business Standard

Sensex, Nifty log fifth straight weekly advance

But sharp losses in HDFC Bank drag benchmark indices lower on Friday

time-read
1 min  |
July 06, 2024