Pollution tapers solar yield by 25 per cent: Study
India is making a big push for solar energy, with power capacity expected to double this year. But some of the gains, especially in north India, could be offset by a growing problem: air pollution. A new study, the first of its kind in India and one of a handful globally, has found that dust and particulate matter (PM) may be reducing the energy yield of solar power systems in north India by 17%-25 % annually. Half this reduction comes from dust and particles deposited on the surface of solar panels and which forms a physical barrier to light entry, said Duke University professor Mike Bergin, who led the study. Researchers allowed panels to accumulate dust for a month. Most importantly, half the decline in energy yield came from ambient pollution-haze that reduces the amount of sunlight reaching the ground, a phenomenon known as solar dimming. “This study thus shows that improving air quality can lead to a big improvement in solar energy yield,” said Bergin. “Cleaning panels is not enough.” Solar energy is the linchpin of the India’s renewable energy mission with a target of 100GW of solar power capacity by 2022. The Indian government offers many concessions and incentives to developers. Solar power plants depend on the availability of sunlight, or solar irradiance. Anything that obstructs sunlight from photovoltaic panels-whether cloudy skies or sand on the panels-reduces potential energy generation. Some studies have looked at the impact of dust, especially in Middle Eastern countries. A 2016 study from Baghdad, for instance, found an 18.74% decline in efficiency for solar modules left uncleaned for a month. Another 2014 paper from Colorado, USA found that 4.1% light transmission was lost for every g/m2 of dust accumulated on the photovoltaic plate. But air pollution has received less attention. In one rare study, researchers investigated the power output of ten photovoltaic systems in Singapore during a haze episode in 2013 due to forest fires in Indonesia. They found that poor air quality caused yield losses of 15-25% in a 10-week period. Loss of irradiation in a single day peaked at nearly 50%, said Andre Nobre, lead author and head of operations at Cleantech Solar in Singapore. Duane Kuiper Authentic Jersey
IOC gets green nod to revamp Bongaigaon refinery at a cost of Rs 4185 crore
State-owned Indian Oil Corp (IOC) has received green nod for upgradation of its Bongaigaon refinery for production of BS-VI grade fuels in Assam at a cost of Rs 4,185 crore. The company wants to upgrade its Bongaigaon Refinery (BGR) as the government aims to implement BS-VI fuel in the entire country from April 2020 to curb pollution. Oil firms will have to be prepared to retail BS VI-compliant fuel by then. BGR, the eighth operating refinery of IOC, is situated at Dhaligaon in Chirang district, 200 km west of Guwahati. “The environment ministry after taking into account the recommendations of its expert appraisal committee has granted the environment clearance (EC) to IOC for revamp of Bongaigaon refinery,” a senior government official told PTI. The environment clearance is subject to certain specific and general conditions, he added. As per the proposal, IOC will increase the crude processing capacity from 2.35 million metric tonnes per annum (MMTPA) to 2.7 MMTPA, Diesel Hydrotreating Unit (DHDT) capacity from 1.2 MMTPA to 1.8 MMTPA , CRU-MSQ revamp and setting up of a Selective De-sulfurisation Unit (SDS). The proposed project will be carried out within the existing premises and it would cost about Rs 4,185 crore. The BS-VI compliant fuel will help bring down the Nitrogen Oxide emissions from diesel cars by 68 per cent and 25 per cent from petrol engine cars, the company said. Besides, the project would also improve the smoke point of the kerosene stream from Assam and help reduction in emissions, it added. Al Kaline Womens Jersey
India’s petroleum import bill rose 9 per cent last fiscal, import dependency of crude rises to 82 percent
India’s gross petroleum import bill, including shipments of both crude oil and petroleum products, rose 9 per cent last financial year to $ 80.3 billion on the back of seven percent rise in volumes and a three percent increase in the average crude price, according to fresh data released by the oil ministry. Crude oil imports rose by more than five percent to 213 million tonne (MT) and the crude oil import bill increased by more than nine percent to $70 billion last fiscal as compared to $64 billion recorded in 2015-2016. India’s petroleum product imports by quantity rose by 22 percent last fiscal year to 36 MT from 29.5 MT in 2015-2016. “The increase in petroleum product imports can be attributed to increase in pet-coke imports by the private sector,” the oil ministry’s technical arm Petroleum Planning and Analysis Cell (PPAC) said in a report. In terms of value the country’s petroleum product import bill rose by five percent to $10.6 billion last fiscal year. Cumulatively, the country imported around 249 million tonnes (MMT) of crude and petroleum products during 2016-2017, a seven percent growth over 232 MT imported in previous fiscal year. The Indian basket of crude – that represents a mix of 71 per cent Oman and Dubai grades and 29 per cent of dated Brent – averaged $47.56 per barrel in 2016-17 as compared to $46.18 per barrel in the previous fiscal, according to data published by Petroleum Planning and Analysis Cell (PPAC), the oil ministry’s technical arm. According to data available on PPAC, petroleum product production – including petrol, diesel and LPG — from indigenous crude fell one percent to 34.7 million tonne (MT) last fiscal year from 35.2 MT in 2015-2016, while the country’s consumption of petroleum product increased by five percent to 194 MMT. The country’s self-sufficiency in petroleum products declined from 22 percent in 2013-2014 to 18 percent in 2016-2017 due to strong consumption growth and declining domestic production. India’s import dependency on crude further increased marginally to 82 percent in 2016-2017 from 81 percent a year ago. Import dependence stood at 77.6 percent in 2013-2014. On petroleum products’ exports front, India’s shipments grew seven per cent to 65 MT last fiscal. The Oil Marketing Companies accounted for 20 per cent of the exports volume. Deryk Engelland Womens Jersey
Setback for India, international panel rejects stay on Cairn arbitration
In a setback to India, an international arbitration panel has rejected its demand for a stay on an arbitration initiated by British oil explorer Cairn Energy plc against a Rs 10,247 crore retrospective tax notice. The panel, comprising three judges of international repute, has also turned down India’s application for bifurcation of the issue of whether tax is covered under India-UK bilateral investment protection treaty, sources privy to the development said. Income tax department had in January 2014 charged Cairn Energy of making capital gains on transfer of India assets to a newly created firm, Cairn India and listing it on stock exchanges. Instead of applying long-term capital gains tax, it levied a short-term capital gains tax and slapped a draft tax demand of Rs 10,247 crore. Also, it debarred Cairn Energy from disposing of its 9.8 per cent remaining stake in Cairn India, which the British firm had in 2011 sold to Vedanta Group. In April 2014, the tax department slapped a Rs 20,495 crore demand on Cairn India, the UK firm’s erstwhile subsidiary for failing to deduct tax on the capital gains. Both firms denied any tax was due and initiated arbitrations — Cairn Energy under India-UK investment treaty and Vedanta under India-Singapore investment treaty. Sources said India sought a stay on proceedings in Cairn Energy’s arbitration for potentially five years, stating that it is “unfair” that they have to defend two cases at once. However, it was Indian government’s decision to join both the arbitration and hence it could not go back on anyone of them. A three-member arbitration panel headed by Geneva-based arbitrator Laurent Levy, which began hearing Cairn Energy’s demand for USD 5.6 billion in compensation from the Indian government for raising a retrospective tax demand in May last year, rejected the application for ‘stay’ on March 27, 2017, they said. It rejected the bifurcation application on April 19, 2017, sources said, adding India can however continue to argue that tax matters are not covered under bilateral investment treaties under the main arbitration. Both the applications were seen as delaying tactics on part of the Indian government, which did not file its Statement of Defence to Cairn’s demand by the November 11, 2016 deadline set by the panel. It also missed the extended deadline of mid-January, only to file it by February 4. Sources said the panel has set a strict timeline, with evidential hearings slated to start in mid-January 2018 and the arbitration proceedings being wrapped up in next few months. Cairn Energy has to file its rebuttal to India’s Statement of Defence by mid-June and the Indian government will get a final change to make further statements on that by September/October. Thereafter evidential hearings are scheduled, they said. The arbitration award will be final and cannot be challenged in any court, they added. Matt Belisle Womens Jersey
Nigeria’s government revenues rise in March due to higher oil royalties
Nigeria’s distributable government revenues rose to 467.81 billion naira ($1.53 billion) in March from 429 billion naira in February due to higher royalties from oil production, a government statement said on Tuesday. Distributable revenue is government income that is shared at various levels of state including the federal government, state governments and local government councils. The revenues were boosted by “a noteworthy increase in revenue from oil royalty,” said the statement. However, the rise was slightly offset by low levels of crude oil production, despite prices rising from $44.74 to $52.86 per barrel in March, the statement said. Revenues from crude exports fell by $6.4 million due to a “decrease in crude oil export volume,” said the statement, adding that production fell largely due to sabotage to pipelines causing leaks and the shutdown of major terminals such as Forcados. OPEC member Nigeria, which last year entered its first recession in a quarter of a century, relies on crude oil sales for two-thirds of its government revenue but has been hit hard by the fall in global crude prices since mid-2014. Militants have carried out attacks on oil and gas facilities in the southern Niger Delta energy hub for a year, cutting oil production – which stood at 2.1 million barrels per day at the start of 2016 – by as much as a third, though output has since mostly recovered. Attacks have halted in recent months with talks between the government and Delta community leaders to address the grievances of militants, who want the oil hub to receive a greater share of the country’s energy wealth. Pierre Desir Womens Jersey
Modi to meet Sri Lankan Prime Minister today; Energy pact on the cards
Sri Lankan Prime Minister Ranil Wickremsinghe, who arrived in the national capital yesterday on a five-day visit, will meet Prime Minister Narendra Modi and hold bilateral talks today. He is being accompanied by International Trade Minister Malik Samarawickrema and Disaster Management Minister Anura Priyadarshana Yapa. The Sri Lankan Prime Minister arrived in Delhi with an expectation to finalise an MoU on developing energy and infrastructure projects in Trincomalee, as well as speeding up negotiations for the upgraded Free Trade Agreement -the ETCA (Economic and Technical Cooperation Agreement). As per schedule, Prime Minister Narendra Modi’s Sri Lankan counterpart will meet Minister of Road Transport and Highways and Shipping Nitin Gadkari, Minister of External Affairs Sushma Swaraj at the Hotel Taj Palace. Thereafter, he will meet Prime Minister Narendra Modi at Hyderabad House at 1 p.m. At 4 p.m., he will meet Union Home Minister Rajnath Singh at the Hotel Taj Palace before concluding his engagements for the day. On Thursday, the Sri Lankan Prime Minister will emplane for a two-and-a-half day-long visit to Udaipur, Rajasthan, at 11.30 a.m. and attend several engagements there through Saturday. On Saturday afternoon, he will return to New Delhi and emplane for Colombo at 6.45 p.m. Before his visit, the Sri Lankan Prime Minister said that he is looking forward to strengthen economic cooperation with India. He said the development of eastern port district of Trincomalee will be discussed during the visit. Sri Lankan government has proposed to sign a MoU with India during visit of Prime minister Narendra Modi to Sri Lanka next month. The MoU proposes Indian investment in development of port and oil tank farms in Trincomalee, setting up of a LNG power plant and terminal, piped gas supply in capital Colombo, highway and railway projects in north and east of the country etc. The proposed Economic and Technical Cooperation Agreement (ETCA) and the issue of fishermen between the two countries are also likely to figure in the discussions. Wickremesinghe will also hold discussions with Congress President Sonia Gandhi. Kentrell Brice Authentic Jersey
Petrol bunks to remain open for only 12 hours a day from May 15
Andhra Pradesh Federation of Petroleum Traders (APFPT) on Tuesday announced that they will operate for only 12 hours a day from May 15 onwards. Also if the dealers’ margin is not increased in the upcoming meeting with oil marketing companies (OMCs) in New Delhi on May 9, the federation will observe a no purchase day on May 10. Heeding Prime Minister Narendra Modi’s call to shut petrol bunks on Sundays, petroleum traders said they are going to shut their outlets on Sundays across Andhra Pradesh. APFPT president Ravi Gopala Krishna said oil marketing companies (OMCs) are reluctant to increase the dealers’ margin even though their demands were supported by Apporva Chandra committee report. He further said a Memorandum of Understanding (MoU) was signed between OMCs and traders wherein 11 regulations were agreed upon, which included increasing dealers’ commission on every litre of fuel sold. “They promised to increase the dealers’ margin after every six months in the MoU. However, that has not happened. More than 80 per cent of the traders in state are bearing losses,” said Gopala Krishna. He said a national-level meeting between petroleum dealers and OMCs is going to be held on May 9 in New Delhi, during which a final call will be taken on the dealers’ commission. “If our commission is not increased, we will protest by not purchasing fuel on May 10,” he added. Gopala Krishna said fuel stations in AP are going to operate for only 12 hours (from 6am to 6pm) from May 15 because it will help reduce costs. Tarik Cohen Womens Jersey
Govt giving top priority to addressing bad loans issue:Jaitley
Finance Minister Arun Jaitley has asserted that the government was giving top priority to addressing the issue of bad loans while acknowledging that the problem of non-performing assets was “adversely impacting” the Indian banking system. Speaking at the Council on Foreign Relations here, Jaitley termed the resolution of the Non-Performing Assets (NPAs) as the “one very big challenge” going forward and the government’s “top priority” at the moment. He said the magnitude of the NPAs problem was that essentially it was about 20 to 30 big accounts. “It’s not a problem spread over hundreds of thousands of accounts…And it’s not impossible for a large economy like India to resolve 20 to 30 accounts. So it’s not an insurmountable problem. I think it’s just persisted too long, but it’s certainly adversely impacting us,” he said. “So if you were to ask me, there are a series of reforms/changes which we’ve successfully made. This is one hurdle which we are now required to jump, and that’s where our current focus is,” he said yesterday. However, Jaitley said there was one constraint the government was facing. “It’s not a constraint on the leadership quality in the bank, but it’s a constraint on the environment in which the bank bureaucracy functions. I have seen that the banks are not bold enough to take their decisions because…our anti- corruption law is still a pre-liberalisation law,” he said. Jaitley emphasised that one of the fundamental flaws in the anti-corruption law has been that erroneous decision- making, which may be taking hair cuts in order to settle, gets identified as an act of corruption. The parliamentary committee has unanimously recommended that this be corrected, he said. “And this is at the final stage now. The recommendation of a larger consensus parliamentary committee has come. Hopefully, in the next session we will take this up,” he said. “The bank bureaucracy is going to be — or, for that matter, any bureaucracy or a public servant dealing with economic decisions, then they can decide on commercial considerations rather than be constrained as to the future consequences of their action itself,” Jaitley said. “So the decision between a possible commercial decision being treated as an act of corruption, I think that the law has to eliminate that possibility,” he said. The Reserve Bank of India has come out with several guidelines and schemes under which the banks have been empowered, Jaitley said. Outlining these schemes, Jaitley said there was an insolvency law in place and there was another action which the government has in the pipeline in order to resolve this. “Essentially, it would also mean that the defaulting companies will have to find partners, will have to go in for either change of managements, they’ll have to get investors. And some precipitative action will be taken. This may also involve some hair cuts by the banks, which would be a bona fide commercial consideration,” Jailtey said. He noted that Indian banks, particularly public sector banks, have conventionally lent for both infrastructure and industry, rather than just retail lending. “Now, during the boom period and thereafter, there was lending in several sectors. And because of the global downturn and those sectors being impacted, you found an adverse impact on some of those sectors,” he said. Further, he stressed that as a combined impact of the GST, demonetisation and several other steps, the government has taken, revenues in India are increasing quite rapidly. “In fact, in the last three years, despite global slowdown, India has consistently seen 15 to 18 per cent annual revenue growth, which is quite significant. “And therefore, I do see over the next several years this revenue growth, particularly as the result of GST and the anti-evasion measures we’ve been taking, rapidly increasing,” he said. Clay Buchholz Authentic Jersey