Ladakh set to host India’s first geothermal power plant in Puga Valley
With this move, the remote Puga Valley, located at an altitude of over 14,000 feet, is poised to become the cradle of India’s geothermal energy revolution.
With this move, the remote Puga Valley, located at an altitude of over 14,000 feet, is poised to become the cradle of India’s geothermal energy revolution.
At a time when the nation is grappling with petroleum fuel shortage amid the ongoing Tehran–Tel Aviv conflict, the country’s vast shale gas reserves, capable of meeting demand for at least 60 years, remain largely untapped.
At the close, the Sensex was up 208.17 points, or 0.25 per cent, at 84,273.92, and the Nifty was up 67.85 points, or 0.26 per cent, at 25,935.15.
According to the statement, ONGC Director (Production) Pankaj Kumar said that the two companies signed the agreement to enable resource sharing for deep-water offshore exploration and production operations on India's east coast, particularly across the Krishna Godavari (KG) basin, as well as Andaman offshore.
Describing IEW as the first major international energy event of the year, the Minister said the platform will focus on strengthening energy security, catalysing investment and advancing practical decarbonisation pathways.
A delegation of the ONGC called on the Lieutenant Governor of Ladakh, Brigadier (Dr) BD Mishra (Retd), and brought to his notice about the challenging assignment.
The minister further said that he is not in favour of divestment of government stake in state-run oil companies. "Why would we divest ourselves of highly successful Maharatnas like BPCL," he said.
In separate filings, the IOC, HPCL, BPCL, GAIL, OIL and MRPL said they have been slapped with a fine of Rs 536,900 each for the fourth quarter. ONGC faced a fine of Rs 182,900.
The minister further said the government is not against the idea of holding a minority stake in key strategic public sector companies.
Oil and Natural Gas Corporation (ONGC) will set up a new unit to house its gas business and clean energy projects such as green hydrogen, as it looks to fast-track foray into new areas.
