India, endowed with the fifth-largest coal reserves in the world, stands as the second-largest consumer of coal, driven by a rapidly growing economy
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After oil, India imports discounted Russian coking coal from Russia, which can boost the bottom line of Indian steel makers as a key fuel for steel plants is now available at a lower cost
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Experts suggest that any sharp rise in crude oil prices above USD 80 per barrel is likely only if the conflict escalates and disrupts key supply routes, such as the Strait of Hormuz, a critical passage for global oil shipments
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According to the Ministry of Coal, the review highlighted the government's dedication to boosting domestic coal production
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India's coal production and supply trends for the period from April to August 2024 show a positive trajectory, despite some short-term variations in the month of August 24, due to above normal precipitation impacting the mining and mobility
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This growth highlights the sustained efforts to meet the rising demand for coal across various sectors, particularly the power industry
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Union coal ministry in a press release says that coal stock is at 121.57 MT, with a year-on-year (YoY) growth of 36.2 per cent
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Coal remains a cornerstone of India's energy landscape and the ministry is determined to reduce logistical constraints that have historically hindered efficient coal transportation
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