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Speaking at the National Panchayati Raj Day event in Ramnagar here in the presence of Prime Minister Narendra Modi, Chouhan said his government was working for the welfare of the tribals and the poor.

Mandla, April 25, 2018: Madhya Pradesh Chief Minister Shivraj Singh Chouhan has claimed all villages in the state will be electrified by October and Rs 2 lakh crore spent on development of tribals in five years.

Speaking at the National Panchayati Raj Day event in Ramnagar here in the presence of Prime Minister Narendra Modi , Chouhan said his government was working for the welfare of the tribals and the poor.

"In five years, Rs 2 lakh crore will be spent on the welfare of tribals. Irrigation facilities will increase and job opportunities made available. Better avenues for education will also be provided," the Chief Minister said according to energy.economictimes.indiatimes.com.
 
He said the Prime Minister wants the panchayats to be enabled and had distributed LPG connections and gas stoves under the Ujjwala Yojana to the poor to save them from diseases.

Union Panchayati Raj Minister Narendra Singh Tomar said Modi is concerned about rural development and thus ensured a four-fold increase in the Union Budget for panchayati raj.

Modi inaugurated the Panchayati Raj Day event by garlanding the portraits of Mahatma Gandhi and Rani Durgavati.
 
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Poland aims to have 1 million electric cars on its roads by 2025 as it seeks to cut emissions in its most polluted towns.

Warsaw, April 25, 2018: Poland 's plan to improve air quality and switch to electric vehicles could be financed with help from the European Bank for Reconstruction and Development , a top EBRD official said.

Poland aims to have 1 million electric cars on its roads by 2025 as it seeks to cut emissions in its most polluted towns. It has offered tax and other incentives to make electric cars more accessible and is working on a Polish electric car prototype.

Air quality activist group Polski Alarm Smogowy says cities such as Warsaw, Katowice and Krakow are among the dirtiest in Europe.

"We will be delighted to support projects going towards electromobility, both in terms of public transport and other projects that could lead to the development of this sector," Grzegorz Zielinski, EBRD's Poland chief, told Reuters according to energy.economictimes.indiatimes.com.

He said the EBRD could for example help finance the use of electric buses, rather than diesel ones, in some Polish towns.

Poland, which is highly dependent on coal, has not yet requested the money, nor specified how much it is budgeting for spending on the project.

Helping Poland become cleaner is one of the key elements of EBRD's new country strategy approved earlier this month.

Zielinski also said EBRD was ready to provide financing for Poland's first offshore wind farms. The two most advanced projects are developed by state-run utility PGE and Polenergia controlled by the Kulczyk family, one of the richest in Poland.

EBRD has helped financed many onshore wind farms in Poland in the past but has criticised government policies which have made them unprofitable.

In 2016 the government unexpectedly banned building wind farms too close to dwellings and imposed a higher property tax on wind farm owners. In its most recent proposal it has withdrawn from the tax though.

According to reports are published in energy.economictimes.indiatimes.com Zielinski said that these regulatory changes for renewables were one of the reasons why many foreign investors have put on hold their investment decisions in Poland. 

The ruling Law and Justice party (PiS) used to say that coal would remain Poland's dominant source of energy for many years and saw renewable energy as unstable.

But more recently it has suggested Poland needs cleaner sources of energy, including nuclear power and offshore wind farms, to reduce emissions and meet EU targets.

EBRD sees its annual investment in Poland in the coming years similar to previous years. It spent 660 million euros in 2017 and 780 million euros in 2016.
 
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History suggests that we are due for a recession at some point in the not-so-distant future.

New Delhi, April 25, 2018: Saudi Arabia is rumoured to want oil prices at $100 per barrel, but if prices rise that high, it could sow the seeds of the next downturn. Saudi officials want more revenues for their budget and a higher oil price to bolster the valuation of the Aramco IPO. But that shortterm thinking could spell trouble not just for them, but also for oil prices, and ultimately for longevity of oil demand.

As Liam Denning of Bloomberg Gadfly points out, in the past decade, while oil prices have surpassed $100 per barrel for periods of time, they didn’t stay there for very long. In 2008, when oil nearly hit $150 per barrel, it was quickly followed by the financial crisis and a deep US recession . Then, the period between 2011 and 2014, when oil was north of $100 per barrel, US Crude approached a three-year high on early Tuesday trades as traders braced for a second straight weekly decline in surplus US supplies. Shale crashed the market with a wave of fresh supply according to energy.economictimes.indiatimes.com.

If Saudi Arabia aims to drive up prices to triple-digit territory once again - and to be sure, that is only a rumor at this point - there are plenty of ways that could merely create the conditions for another bust.

First, oil prices are rising, in part, because demand is so strong, not just because OPEC is keeping barrels off the market. Oil at $100 would essentially amount to a doubling of the price from the past few years, which would quickly put an end to high demand growth rates.

A corollary to this is that $100 oil would likely impact economic growth. The economic recovery from the financial crisis in 2008 is almost a decade old at this point, much longer than the average upswing.

According to reports are published in energy.economictimes.indiatimes.com history suggests that we are due for a recession at some point in the not-so-distant future. A spike in fuel prices around the world could help bring that on.

“Oil prices are high because the dollar is low,” Daniel Lacalle, chief economist at Tressis Gestion said on Thursday. Taking too much oil off to the market for too long could send prices “artificially” high he said. “That is a big concern…Because oil prices don’t generate crises; the abrupt and unexpected rise of oil prices creates crises,” Lacalle said.

Second, $100 oil would set off yet another round of frenzied drilling, likely resulting in an even stronger wave of new shale supply. Several years of tripledigit oil prices led to a near doubling of shale production in the US, a volume that helped crash the market in 2014. A spike in oil prices could result in history repeating itself.

That is worrying because US shale is already growing faster now than it was in the lead up to the 2014 downturn.

Either way, Saudi Arabia runs the risk of sowing the seeds of another bust in the oil market, which, needless to say, would be hugely detrimental to its own interests. “Saudi Arabia can push the price to $100 if it keeps supply sufficiently tight,” Carsten Fritsch, analyst at Commerzbank, told MarketWatch. “But it won’t be without paying a price in the long-term, i.e. causing a new wave of shale oil and oil from other sources.”
 
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The corporation will be a private limited company wholly owned by the state government with an authorised share capital of Rs 1 crore fully paid up and subscribed by the Jammu and Kashmir government, an official spokesman said.

Jammu, April 25, 2018: The Jammu and Kashmir cabinet today approved setting up of Jammu and Kashmir Renewable Energy Corporation .

The decision was taken at the cabinet meeting chaired by Chief Minister Mehbooba Mufti here according to energy.economictimes.indiatimes.com.

The corporation will be a private limited company wholly owned by the state government with an authorised share capital of Rs 1 crore fully paid up and subscribed by the Jammu and Kashmir government, an official spokesman said.

The cabinet authorised the administrative secretary, Science and Technology Department, to take necessary steps for creation and setting up of the Renewable Energy Corporation.
 
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The reversal in the six-year declining trend assumes significance coming at a time when the government is targeting a quick ramp up in the share of natural gas in the overall energy basket.

New Delhi, April 25, 2018: India’s natural gas production grew for the first time in six years in 2017-18. Gas output grew 2.35 per cent to 32,649 Million Standard Cubic Meter (MMSCM) primarily due to production from onshore blocks offsetting a decline in production from offshore blocks, an ETEnergyWorld analysis of fresh data from the oil ministry shows.

Natural gas is a key input required for generating power and manufacturing products in the fertilizer and steel industries. The reversal in the six-year declining trend assumes significance coming at a time when the government is targeting a quick ramp up in the share of natural gas in the overall energy basket, arrest a consistent declining trend in its domestic crude oil production and reduce its mounting crude oil import bill -- which increased 25 per cent to $88 billion last fiscal and is expected to increase by 20 per cent to $105 billion in 2018-19.

An analysis of year-wise data on natural gas production since 2002 indicates that the country recorded its highest ever natural gas production from onshore blocks in 2017-2018. Gas production from onshore blocks including Coal Bed Methane (CBM) grew 8 per cent to 10,639 MMSCM last financial year as compared to 9,858 MMSCM recorded in the previous fiscal. The country’s offshore production, however, declined by less than one per cent to 22,011 MMSCM in 2017-18 as compared to 22,038 MMSCM recorded in the previous fiscal (2016-17) according to energy.economictimes.indiatimes.com.

The increase in production after years of a consistent decline is a major relief for the domestic economy which has been starved of cheaper domestic gas, a situation that was translating into increasing reliance on costly Regasified-LNG, said K Ravichandran, Senior Vice President at research and ratings agency ICRA. “The growth in the domestic gas production has been due to development of several new discoveries by ONGC and ramping up of production from other fields. Going ahead, ICRA expects domestic gas production to increase by around 20 MMSCMD over the next 5 years. This will come from the ongoing development of new fields by ONGC, OIL, Cairn and RIL-BP, besides some increase in CBM production,” he said.

First growth in India’s natural gas production in six years India’s state-run petroleum explorer Oil and Natural Gas Corporation (ONGC) registered a 6 per cent growth in its cumulative natural gas production at 23,429 MMSCM in 2017-2018 on the back of healthy performance of the company's onshore and offshore blocks. The firm’s onshore production increased by eight per cent to 5,638 MMSCM last fiscal as compared to the previous financial year while production from its offshore blocks increased by 5 per cent to 17,791 MMSCM.

Overall gas production by private companies and Joint Ventures from Production Sharing Contract (PSC) fields declined for the seventh straight year in 2017-18, falling by 8 per cent to 6,338 MMSCM as compared to the previous fiscal further quoted that energy.economictimes.indiatimes.com.. 

A decrease in production from KG-D6 field off the Andhra coast is the primary reason for the decreasing gas production in India along with limited new investments and maturing fields, according to Deepak Mahurkar, Partner and Leader, Oil & Gas Industry Practice at consultancy firm PwC India. “The investments on the anvil, if materialised in time bound manner, are expected to add significant production. Both private and PSU upstream companies have planned to increase their production cumulatively by about 30 billion cubic meter by 2022,” he said.

Natural gas production by Oil India Ltd (OIL), the second-largest state-owned oil and gas producing company, dipped in 2017-18 after recording continuous growth in the previous three years. The company’s cumulative gas production fell 2 per cent to 2,881 MMSCM during the fiscal as compared to the previous financial year.

India’s total Coal Bed methane production in Jharkhand, Madhya Pradesh and West Bengal increased 30 per cent to 735 MMSCM last financial year from 565 MMSCM recorded in 2016-17. The country natural gas demand increased by 5 per cent to 58,159 MMSCM in 2017-18 while natural gas import dependence increased to 45.4 per cent from 44.5 per cent in previous fiscal (2016-17).
 
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Gujarat Urja Vikas Nigam Ltd (GUVNL) held the reverse auction on March 28 to allot 500 MW of solar projects.

Bengaluru, April 25, 2018: Gujarat cancelled a solar project auction it held in end-March without assigning any reasons. Industry sources said this was because the state government felt the tariff quoted by bidders to supply power was too high.

Gujarat Urja Vikas Nigam Ltd (GUVNL) held the reverse auction on March 28 to allot 500 MW of solar projects. Gujarat-based Kalthia Engineering & Construction quoted the lowest tariff of Rs 2.98 per unit to win 50 MW, while the Gujarat State Electricity Corporation, which has also turned solar developer, got 150 MW at Rs 3 per unit. Acme Solar Power won 100 MW and Azure Power the remaining 200 MW, both quoting a tariff of Rs 3.06 per unit according to energy.economictimes.indiatimes.com.  

GUVNL did not reply to queries about why the auction results were unexpectedly cancelled. Sources said the agency hoped to hold the auction again after setting a reserve price lower than the winning tariffs.

The winning tariffs were markedly higher than those in the previous GUVNL auction held in September 2017, when they had ranged between Rs 2.67 and Rs 2.69 per unit.

A number of factors are responsible for the tariffs going up, including the rising cost of imported solar panels and modules, as well as the threat of safeguard duty and antidumping duty being imposed on such equipment. Around 90% of solar equipment used in Indian projects is imported, mainly because local manufacturers cannot compete on either volume or price. However, local manufacturers have complained to the Directorate General, Safeguards, and the Directorate General of Antidumping and Allied Duties that solar imports were causing them serious injury. The DG Safeguards, in turn, has recommended a 70% safeguard duty on solar imports, but the proposal is still being considered.

The 500 MW auctioned by GUVNL in March was oversubscribed three times, in stark contrast to other recent state solar auctions such as those by Maharashtra and Karnataka which evoked tepid interest and didn’t find enough takers. Industry observers attributed this to Gujarat not having set any reserve price for the auction, unlike Maharashtra and Karnataka, which did further quoted that energy.economictimes.indiatimes.com.. 

In the absence of a reserve price, tariffs in the Gujarat auction rose around 13% from the previous auction of September last year. But if such a price is set during the re-tendering, industry observers said they weren’t expecting such a strong response.
 

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