India ready to collaborate openly to build inclusive global energy future: Hardeep Singh Puri
Union Minister Hardeep Singh Puri stated India’s commitment to an inclusive global energy future through open collaboration, highlighting the India-Middle East-Europe Economic Corridor (IMEC) as a key initiative. IMEC aims to integrate energy, trade, and digital infrastructure, fostering clean energy solutions.
oil-&-gas Indian refiners purchase more US crude before trade talks in May
Ahead of trade talks, Indian refiners are increasing US oil purchases, with June imports set to hit an 11-month high due to discounted WTI prices and geopolitical strategies. This surge in American crude is displacing West African imports, as India seeks to reduce reciprocal tariffs […]
oil-&-gas Demand-supply imbalances, weakness in transportation fuel cracks impacted O2C segment: Mukesh Ambani
Reliance’s profit edged up by 2% year-on-year, although its oil-to-chemicals segment faced challenges due to weak transportation fuel cracks and downstream chemical market imbalances, resulting in multi-year low margins. The oil and gas business achieved record EBITDA, driven by increased production from KGD6 and CBM […]
oil-&-gas
Reliance imported 17.3% more Russian oil in March as against Feb
Reliance Industries imported about 532,700 barrels per day (bpd) of Russian oil in March, marking a 17.3% increase from February, according to ship-tracking data. Russian crude made up 48.5% of Reliance’s total imports. However, overall crude imports fell by 19% to 1.1 million bpd due […]
oil-&-gas India, Saudi Arabia exploring joint refinery, petrochemical projects, Modi says
India and Saudi Arabia are discussing joint refinery and petrochemical projects. They are also studying electricity grid connectivity. Saudi Arabia wants to increase oil exports to India due to China’s slowing demand. They might offer crude oil at lower rates. Saudi Aramco is considering investments […]
oil-&-gas India attracted $36 billion investment, 177 discoveries in pre-2014 oil, gas blocks: Oil Ministry Report
India’s oil and gas exploration policies, NELP and OALP, attracted significant investment, leading to numerous discoveries. While NELP faced challenges like clearance delays and cost recovery disputes, HELP’s revenue-sharing model aimed to improve ease of business. Recent OALP rounds and the DSF policy continue to […]
oil-&-gas City gas firms to get pro-rata allocation of expensive “new well gas”: Govt
The Oil Ministry has announced that city gas distributors will now receive a quarterly allocation of ‘new well gas’ alongside regular domestic gas to better meet customer demand. This new system replaces the previous auction-based supply. While new well gas is priced higher at 12% […]
oil-&-gas India's oil and gas production fall in 2024-25
India’s crude oil and natural gas production experienced declines in 2024-25 due to falling output from mature fields. This decrease has led to a rise in the country’s import bill, with India importing 88% of its crude oil and 51% of its gas consumption.
oil-&-gas ONGC's cheaper APM gas supply falls, costlier new well supply doubles for city gas distributors
India’s ONGC faces declining natural gas production from aging fields, impacting CNG and piped gas supplies to city distributors like IGL and MGL. GAIL has notified a cut in APM gas supplies by up to 20%, effective April 16, 2025.
oil-&-gas RIL-BP jet fuel market share rises to 7.5% in FY25
Reliance Industries (RIL) and its British partner BP boosted their share in the domestic aviation turbine fuel (ATF) market by 2.5 percentage points, spurred by a 62% sales growth in the just-ended fiscal year. RIL-BP’s market share rose to 7.5% in 2024-25 from 5% in […]
oil-&-gas Govt cut cheaper APM gas supply to CNG retailers IGL, MGL, Adani Total Gas
The government has decreased the supply of lower-cost APM gas to city gas distributors like Indraprastha Gas Ltd by up to 20%, substituting it with more expensive fuel. This reduction in APM gas allocation, effective April 16, 2025, will lead to higher input costs for […]
oil-&-gas Reliance-BP-ONGC trio strikes big on debut; ONGC corners most OALP-IX blocks, Vedanta grabs 7
In a landmark collaboration, Reliance Industries, BP, and ONGC secured a Gujarat offshore oil block in the OALP-IX bid round. ONGC emerged as the dominant winner, acquiring 15 blocks, while Vedanta secured seven. This round witnessed significant investment commitments and aims to boost India’s oil […]
oil-&-gas
A deep dive into cryptocurrency decentralization
In recent years it has become well known that cryptocurrency networks such as the Bitcoin network are energy intensive systems. As of 2024, Bitcoin mining operates on more than 16 gigawatts of power demand, responsible for around 80 megatonnes of annual carbon emissions. Ethereum proved […]
Power
In recent years it has become well known that cryptocurrency networks such as the Bitcoin network are energy intensive systems. As of 2024, Bitcoin mining operates on more than 16 gigawatts of power demand, responsible for around 80 megatonnes of annual carbon emissions. Ethereum proved in 2022 that it is possible to replace this energy intensive (proof of work) mechanism with a more sustainable alternative known as proof of stake. As a result of this change, Ethereum reduced its total power demand by at least 99.85%. However, while this was the most obvious impact of the change, it should be kept in mind that such a software change affected Ethereum in more ways that one. In particular, the Bitcoin community tends to argue that this software change has made Ethereum less decentralized and less secure.
Digiconomist has now added a new deep dive into the decentralization of cryptocurrencies to examine these claims in more detail. This new content explores how (de)centralization takes place in cryptocurrency networks when proof-of-work or proof-of-stake mechanisms are employed. Moreover, it also highlights other aspects of blockchain (de)centralization that aren’t exclusively related to the aforementioned mechanisms. By doing so, it is shown that centralization and decentralization in blockchain technology are not binary values, but rather a spectrum in which each software design will have its own unique landscape of risk factors that may impair decentralization. A summarizing visual was added to the Bitcoin Energy Consumption Index page.