Nigerian crudes struggle for buyers as India cuts purchases – Report The Punch
Published 15 June 2021 Nigerian crude variants are now seeking other buyers in Asia and Europe as India’s COVID-19 situation remains shrouded in uncertainty amid stringent regional lockdowns and weak domestic consumption.
S&P Global Platts reported that most Nigerian crudes were trading at close to 12-month lows. The country’s flagship grade, Bonny Light was last assessed at Dated Brent minus $0.8 per barrel, up from a recent low of minus $0.95 per barrel, but still close to the weakest it has been since May 2020.
Akpo condensate, normally a preferred grade for Indian refiners, was last assessed at Dated Brent -$2.10 per barrel, its lowest level since September 2020.
India targets 20% ethanol-blended fuel by 2025 icis.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from icis.com Daily Mail and Mail on Sunday newspapers.
Basics
Carbon capture, utilisation and storage (CCUS) may be defined as the capture, use, and secure storage of carbon that would otherwise be emitted into or remain in the atmosphere. The rationale for carbon capture and storage is to enable the use of fossil fuels while reducing the emissions of carbon dioxide (CO2) into the atmosphere, and thereby, mitigating global climate change. The storage period for CO2 exceeds the estimated peak periods of fossil fuel exploitation, so that if CO2 re-emerges into the atmosphere, it will occur after the predicted peak in atmospheric CO2 concentrations. Removing CO2 from the atmosphere by increasing its uptake in soils and vegetation (e.g., afforestation) or in the ocean (e.g., iron fertilization), is also a form of carbon sequestration through natural sinks.
At the stock markets, the S&P BSE Sensex lost 338 points, or 0.68 per cent, to close at 49,565, on Thursday, May 20, 2021. The Nifty at the National Stock Exchange slid 124 points, or 0.83 per cent, to end at 14,906. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Friday, May 21, 2021. List of such five stocks:
See Zee Business Live TV Streaming Below:
HPCL + Havells India + Torrent Power
HPCL: State-controlled Hindustan Petroleum Corp Ltd (HPCL) has reported a 28.2% QoQ rise in the profits at Rs 3,018 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 2,354.6 crore in the previous quarter ended December 31, 2021. Revenues went up 9% QoQ to Rs 74,843.4 as compared to Rs 68,659.2 crore posted in the previous quarter. EBITDA stood at Rs 4,666.4 crore, up 41.3% from Rs 3,301.5 crore posted in the December quarter. The EBITDA margins improved to 6.2% in Q4FY21 as compared to 4.8% posted in