
Methane emissions remain high, 120 million tonnes released in 2024
Satellites are revolutionising methane monitoring, with over 25 now in orbit, including MethaneSAT and Tanager-1, launched in 2024. These tools detected a record high in large methane leaks from oil and gas facilities last year, despite reduced coverage. GHGSat's 16,400 observations in 2024 identified nearly 11,700 leaks, 9,600 from oil and gas. 'Satellites are game-changers, exposing persistent leaks and guiding regulatory action,' said Jane Ellis, a senior IEA analyst.
The economic case for methane abatement is compelling. About 30% of 2024's fossil fuel methane emissions could have been avoided at no net cost, as captured gas often offsets abatement costs. Leak detection and repair (LDAR) programmes and equipment upgrades, like swapping wet compressor seals for dry ones, can yield returns exceeding 25% within a year. In India, where oil and gas upstream methane intensities are double the global average, such measures could be transformative. 'The financial logic is clear, yet awareness and investment barriers persist,' analysts say.
Methane abatement could also strengthen energy security. The IEA estimates that capturing methane could have added 100 billion cubic metres (bcm) of natural gas to global markets in 2024—matching Norway's total gas exports. Additionally, 150 bcm of gas is flared annually, much of it unnecessarily. 'This is gas that could power industries or heat homes,' Birol said. In India, where energy demand is rising, capturing flared gas could support economic growth while reducing emissions.
India, a major methane emitter in South and Southeast Asia, contributed significantly to the region's 10 Mt of fossil fuel methane emissions in 2024, with half from coal mines. The country plans to double coal output by 2030, potentially exacerbating emissions. Unlike most regional peers, India has not joined the Global Methane Pledge, though its national oil company, ONGC, participates in the Oil and Gas Decarbonization Charter (OGDC). 'India's coal reliance poses a challenge, but its oil and gas sector has abatement potential,' Indian experts say. Surface mines, dominant in India, limit coal abatement options, but LDAR and gas utilisation could cut oil and gas emissions significantly.
Sabina Assan, methane analyst at global energy think tank Ember, said 'Coal, one of the biggest methane culprits, is still being ignored. There are cost-effective technologies available today, so this is a low-hanging fruit of tackling methane. We can't let coal mines off the hook any longer.'
Globally, methane pledges, including the Global Methane Pledge (GMP) and OGDC, cover 80% of oil and gas production, but only 5% meets near-zero emissions standards. The GMP, with 159 countries, aims for a 30% methane cut by 2030—equivalent to eliminating the transport sector's CO2 emissions. Yet, only half of these pledges have detailed policies.
Regionally, performance varies. China, the largest emitter at 25 Mt, focuses on coal mine methane recovery. North America emitted 23 Mt, with Canada targeting a 75% reduction by 2030. In the Middle East and North Africa, flaring drives 25% of 20 Mt emitted. The IEA's Methane Abatement Model highlights pathways to cut oil and gas emissions by 75% and coal by 50% by 2030. "The tools exist, the data is improving, and the economics make sense,' Birol urged.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
4 hours ago
- Economic Times
ITR-1, ITR-2, ITR-3 or ITR-4: Which form applies to your income for ITR filing FY 2024-25 (AY 2025-26)?
ET Online The Income Tax Department has notified the income tax return (ITR) forms for the financial year 2024-25 (assessment year 2025-26). This year's ITR forms have been updated to incorporate the income-tax related changes announced in the Budget 2024. ET Wealth Online tells you which ITR form is applicable to your income while filing ITR this year i.e., for FY 2024-25 (AY 2025-26). Who can file income tax return using ITR-1 form? The Income Tax Department has revised the eligibility criteria for taxpayers who can file their tax return using the ITR-1 form. This change will make it simpler for many taxpayers to file their ITR. In the past, individual taxpayers with capital gains were not eligible to file their ITR usingITR-1 form. The new form allows individual taxpayers to file their ITR using ITR-1 even if they have long-term capital gains but subject to the condition that the gains are long term capital gains from sale of listed equity shares and/or equity mutual fund units and the amount of gain is only up to Rs 1.25 lakh in a financial year. Eligibility to file ITR-1 According to Shalini Jain, Tax Partner, People Advisory Services, EY India, taxpayers are eligible to file ITR- 1 if they satisfy the following conditions:a) Individual being ordinarily resident (ROR).b) Total taxable income does not exceed Rs 50 lakh in FY 2024-25.c) Have income from one or more of these income sources: Salary, one house property, other sources such as interest, dividend, pension, etc., long-term capital gains up to Rs 1.25 lakh from listed equity shares and/or equity mutual fund units and agricultural income up to Rs 5, term capital gains from listed equity shares and equity mutual fund units are taxed under Section 112A of the Income Tax Act. Also Read: Is LTCG exemption on equity shares and equity mutual funds is Rs 1 lakh or 1.25 lakh? Who can file income tax return using ITR-2 form? Taxpayers who are not eligible to file their ITR using ITR-1 can file it using ITR-2. They can use the ITR-2 form, provided they meet the eligibility criteria for the year ITR-2 will include the option to report capital gains incurred on transactions before/after July 23, 2024. This is because the new rules for calculating capital gains kicked in from July 23, 2024. The form also allows taxpayers to claim capital loss on share buybacks starting from October 1, 2024. The Income Tax Department has also provided relief to taxpayers filing ITRs for FY 2024-25 by raising the income limit to Rs 1 crore for reporting assets and liabilities in their ITR. Earlier, taxpayers with income above Rs 50 lakh were required to report their assets and liabilities in their ITR. Eligibility to file ITR-2 Jain explains that individuals who fulfil any one or more of the following eligibility criteria have to file their tax returns using ITR-2:a) Individuals having any one of these residential status for income tax purposes: Resident but ordinarily resident (ROR), Resident but not ordinarily resident (RNOR) and Non-Residentb) Hindu Undivided Familyc) Total taxable income in FY 2024-25 (AY 2025-26) exceeds Rs 50 lakhd) Income from any source except profits and gains from business or profession i.e., income from the following sources is permissible for the purpose of using ITR- 2 - salaries, more than one house property, income from other sources such as interest income, dividend, capital gains (Short term and long term) such as sale of unlisted equity shares, gains from listed equity shares and equity mutual fund units exceeding Rs 1.25 lakh, house, debt mutual funds, other assets etc.e) Taxpayer being a director in a companyf) Taxpayer holding unlisted equity sharesg) Taxpayer having income from sources outside India, such as interest, dividend, rent, capital gains and/ or holding foreign assets such as foreign shares, immovable property, bank accounts, etc h) Income from the sale/transfer of Virtual Digital Assets (VDAs) such as cryptocurrency, NFTs, etc. Also Read: ITR filing changes that NRIs should know Who can file income tax return using ITR-3 form? ITR-3 form is to be used to file ITR by taxpayers who have income and gains from business or profession. This year, ITR-3 has added references to Section 44BBC (Cruise business) for income derived from business and profession. Eligibility to file ITR-3 Jain explains the eligibility requirements for taxpayers for filing ITR using the ITR-3 form. Taxpayers meeting any of the following criteria can file their ITR using ITR-3:a) Individuals/HUF having business income/income from professionb) Partner of a firmc) Individual taxpayers having gains/losses from Futures & Options or Intra-day trading. Who can file income tax return using ITR-4 form? ITR-4 form is to be used by taxpayers who opt for the presumptive taxation scheme under Section 44AD for businesses and Section 44ADA for professionals. Eligibility to file ITR-4 Jain explains which taxpayers are eligible to file ITR-4 for FY 2024-25:a) Resident Individuals, HUFs, and Firms (Other than LLP) with total income up to Rs 50 lakh who are taxed under Sections 44AD, 44ADA or 44AE and having long term capital gains of up to Rs. 1.25 lakhs from listed equity shares and equity mutual fund units. However, the limit of Rs 50 lakh can go up to Rs 75 lakh in case of professionals, provided 95% or more of the income receipts from the profession have been received through recognised banking channels, such as Net banking, UPI, debit cards, etc. Section 44ADA applies to professionals, including doctors, lawyers, engineers, and others.b) ITR-4 can also be filed by small businesses opting for presumptive taxation under Section 44AD and having business income up to Rs 2 crore. The limit increases to Rs 3 crore if 95% or more of the business receipts are received via banking channels. Who can file income tax return using ITR-5 form? ITR-5 is not for individuals and HUF taxpayers. Eligibility to file ITR-5 Jain says, "Any taxpayer not being an individual, HUF or company can file their ITR using ITR-5. This tax form is used by firms, LLPs, Association of Persons, business trusts and investment funds." Who can file income tax return using ITR-6? ITR-6 form is applicable for companies. Eligibility to file ITR-6 Jain says, "ITR-6 is for income tax return filing by companies who cannot file tax return using ITR-7 form." Who can file income tax return using ITR-7? ITR-7 is meant to be used primarily by specified companies. Jain says, "Taxpayers, including companies which are charitable or religious trusts, political parties, research organisations, news agency or those specified in the Income Tax Act are required to furnish income tax return in ITR-7" ITR filing is mandatory even if income is below basic exemption limit ITR filing is mandatory even if the total taxable income is below the basic exemption limit if the following criteria specified in the income tax law is satisfied during the financial year: a) If you have incurred aggregate expenses on foreign travel for yourself or any other person for an amount exceeding Rs 2 lakh b) If you have paid aggregate electricity bills for an amount exceeding Rs 1 lakh c) If you have made aggregate deposits in current account exceeding Rs 1 crored) If you hold any foreign asset or have signing authority in foreign account either in own name or as a beneficiary or as a beneficial ownere) Practically, you may need to file ITR if you are claiming exemptions for capital gains under Section 54, 54B, 54EC, 54F etc. f) If aggregate TDS and/or TCS of Rs 25,000 or more has been deducted or collected during the financial year 2024-25. For senior citizens (individuals who are 60 years or more of age), this limit is Rs 50,000g) For claiming income tax refund Last date for ITR filing for FY 2024-25 (AY 2025-26) The Income Tax Department has extended the last date for filing income tax return for certain taxpayers from July 31, 2025, to September 15, 2025. This deadline extension applies to salaried individual taxpayers, HUFs, and taxpayers whose accounts are not required to be audited. Also Read: ITR filing deadline extended to September 15, 2025 for these taxpayers For other taxpayers, whose books of accounts are required to be audited, the due date for ITR filing has not been extended as yet. For them, the last date is either October 31 or November 30, 2025, for FY 2024-25 (AY 2025-26), depending on whether their business includes international transactions or not. N.R. Narayana Murthy Founder, Infosys Watch Now Harsh Mariwala Chairman & Founder, Marico Watch Now Adar Poonawalla CEO, Serum Institute of India Watch Now Ronnie Screwvala Chairperson & Co-founder, upGrad Watch Now Puneet Dalmia Managing Director, Dalmia Bharat group Watch Now Martin Schwenk Former President & CEO, Mercedes-Benz, Thailand Watch Now Nadir Godrej Managing Director, of Godrej Industries Watch Now Manu Jain Former- Global Vice President, Xiaomi Watch Now Nithin Kamath Founder, CEO, Zerodha Watch Now Anil Agarwal Executive Chairman, Vedanta Resources Watch Now Dr. Prathap C. Reddy Founder Chairman, Apollo Hospitals Watch Now Vikram Kirloskar Former Vice Chairman, Toyota Kirloskar Motor Watch Now Kiran Mazumdar Shaw Executive Chairperson, Biocon Limited Watch Now Shashi Kiran Shetty Chairman of Allcargo Logistics, ECU Worldwide and Gati Ltd Watch Now Samir K Modi Managing Director, Modi Enterprises Watch Now R Gopalakrishnan Former Director Tata Sons, Former Vice Chairman, HUL Watch Now Sanjiv Mehta Former Chairman / CEO, Hindustan Unilever Watch Now Dr Ajai Chowdhry Co-Founder, HCL, Chairman EPIC Foundation, Author, Just Aspire Watch Now Shiv Khera Author, Business Consultant, Motivational Speaker Watch Now Nakul Anand Executive Director, ITC Limited Watch Now RS Sodhi Former MD, Amul & President, Indian Dairy Association Watch Now Anil Rai Gupta Managing Director & Chairman, Havells Watch Now Zia Mody Co-Founder & Managing Partner, AZB & Partners Watch Now Arundhati Bhattacharya Chairperson & CEO, Salesforce India Watch Now


Indian Express
11 hours ago
- Indian Express
DMart Q1FY26 Results: Standalone profit up 2.1% YoY to Rs 830 crore – check quarterly earnings of Avenue Supermarts
DMart Share Price, Avenue Supermarts Share Price: Shares of Avenue Supermarts Limited settled in red on Friday (July 11) at Rs 4069 apiece, down 2.40 per cent. According to the NSE, the retail stock has a total market cap of Rs 2,64,783.29 crore. The company runs supermarket chain under the brand DMart. In an exchange filing, the company said, 'Total Revenue for the quarter ended June 30, 2025 stood at Rs.16,360 crore, as compared to Rs.14,069 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY26 stood at Rs.1,299 crore, as compared to Rs.1,221 crore in the corresponding quarter of last year. EBITDA margin stood at 7.9% in Q1FY26 as compared to 8.7% in Q1FY25. Net Profit stood at Rs.773 crore for Q1FY26, as compared to Rs.774 crore in the corresponding quarter of last year. PAT margin stood at 4.7% in Q1FY26 as compared to 5.5% in Q1FY25. Basic Earnings per share (EPS) for Q1FY26 stood at Rs.11.88, as compared to Rs.11.89 for Q1FY25.' On standalone results, the company stated that the total Revenue for the quarter ended June 30, 2025 stood at Rs.15,932 crore, as compared to Rs.13,712 crore in the same period last year. 'Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY26 stood at Rs.1,313 crore, as compared to Rs.1,221 crore in the corresponding quarter of last year. EBITDA margin stood at 8.2% in Q1FY26 as compared to 8.9% in Q1FY25. Net Profit stood at Rs.830 crore for Q1FY26, as compared to Rs.812 crore in the corresponding quarter of last year (y-o-y growth of 2.1%). PAT margin stood at 5.2% in Q1FY26 as compared to 5.9% in Q1FY25. Basic Earnings per share (EPS) for Q1FY26 stood at Rs.12.75, as compared to Rs.12.49 for Q1FY25,' it said in a filing. Avenue Supermarts Limited is a component of the BSE 100. According to the BSE analytics (as of July 12), shares of Avenue Supermarts Ltd gave negative returns of 4.63 per cent and 5.73 per cent in the last 1 week and 2 weeks, respectively. In the last 1 month and 3 months, shares of the retail company fell 0.38 per cent and 1.4 per cent, respectively. In the last 1 year, shares of the company down 17.01 per cent. In the past 2 years, 3 years, and 5 years, shares of the company gained 6.20 per cent, 1.95 per cent and 75.01 per cent, respectively. Avenue Supermarts Limited never issued dividends for the shareholders. Avenue Supermarts Ltd never issued bonuses for the equity shareholders.


News18
12 hours ago
- News18
New Covid Variant XFG Explained: Symptoms, Spread & Safety Tips You Need To Know
Last Updated: Symptoms mirror Omicron's, that is, fever, cough, fatigue, sore throat, and muscle aches. Though India's Covid response offers a foundation, but XFG demands targeted strategies As India navigates a post-Covid world, a new Omicron subvariant, XFG ('Stratus"), is raising concerns with its rapid spread and immune-evasive traits. First detected in Canada, XFG has reached 38 countries, including India, where it accounts for a growing share of cases. With India's active Covid-19 cases at 7,000 as of June 2025, per the Union Health Ministry, let's examine XFG's characteristics, India-specific data, and how the nation can prepare for this and future pandemics, drawing lessons from long Covid. What Is The XFG Variant? XFG, a recombinant subvariant of Omicron, emerges from the fusion of LF.7 and LP.8.1.2 strains, formed when two variants infect a person simultaneously, mixing genetic material. A Lancet study highlights four key spike protein mutations—His445Arg, Asn487Asp, Gln493Glu, and Thr572Ile—enabling 'strong immune evasion," allowing XFG to bypass antibodies from prior infections or vaccines. Globally, XFG accounts for 22.7% of sequenced cases as of June 2025, up from 7.4% a month earlier, per GISAID (Global Initiative on Sharing All Influenza Data), and may soon dominate over NB.1.8.1 ('Nimbus"), per The Conversation. In India, it's the dominant strain in Madhya Pradesh, with 63.6% of sequenced samples, per AIIMS Bhopal. Symptoms mirror Omicron's, that is, fever, cough, fatigue, sore throat, and muscle aches. However, XFG uniquely causes hoarseness—a scratchy or raspy voice—reported by doctors as a key marker, per Everyday Health. Unlike JN.1, which caused low-grade fever and digestive issues, XFG's symptoms are mild to moderate, with no evidence of increased severity or hospitalisation rates, per WHO. Current vaccines, targeting JN.1, remain effective against severe disease, and antivirals like Paxlovid and remdesivir work, per Time. How Many XFG Cases Have India Reported? India has reported 206 XFG cases as of June 11, per INSACOG, with Maharashtra leading at 89 cases, followed by West Bengal (49), Tamil Nadu (16), Kerala (15), Gujarat (11), and Andhra Pradesh, Madhya Pradesh (6 each), Odisha (4), Puducherry (3), Delhi, Rajasthan, and Punjab (2 each), and Telangana and Haryana (1 each), per The Hindu. Of these, 159 cases were detected in May, with two each in April and June, indicating a rapid rise. India's active Covid-19 cases reached 7,000 by June 11, with Kerala reporting the highest active cases (2,200), followed by Gujarat (1,223) and Delhi (757). A 2024 ICMR survey notes 66% of respiratory viral infections in India are Covid-related, but hospitalisations remain low, News18 reported. AIIMS Bhopal's genomic analysis of 44 samples from May-June found XFG dominant in 28 (63.6%), with no NB.1.8.1 detected in Madhya Pradesh, highlighting regional variation. Dr Rajiv Behl, ICMR Director General, stresses XFG's low severity but urges vigilance for vulnerable groups—those over 70 or with comorbidities. Why XFG Matters To India India's 1.4 billion population and $3 trillion economy face significant risks from new variants. Long Covid, affecting 7% of India's 44 million Covid cases (3 million people), costs 1% of GDP annually, per a 2024 NITI Aayog estimate, with 40% reporting fatigue and 25% brain fog. XFG's immune evasion could exacerbate this. Rural areas, with only 10% of health centres offering post-Covid care, face worse outcomes, per The Indian Express. A 2024 Times of India poll shows only 25% of Indians know about long Covid, limiting XFG awareness. Vaccine hesitancy, at 30% in rural India, and low Omicron-specific booster uptake (18%) weaken defences, per ICMR 2024. With 74 Covid deaths in 2025, mostly among the elderly and immunocompromised, XFG's spread threatens vulnerable groups. How India Should Prepare India's Covid response—2.2 billion vaccine doses by 2025—offers a foundation, but XFG demands targeted strategies: Enhanced Genomic Surveillance: INSACOG's 54 labs must expand sequencing, as only 0.1% of cases are sequenced, per The Hindu. AIIMS Bhopal's model, detecting XFG in 63.6% of samples, shows the value of regional labs. Scaling Truenat and RT-PCR testing to 80% of health centers, especially rural ones, could detect variants early, per Dr Balram Bhargava, a renowned cardiologist and public health leader. Vaccination & Boosters: Only 18% of Indians have Omicron-specific boosters. A 2025 campaign targeting 50% booster coverage, especially for those over 70, could cut severe cases by 30%, per WHO. Mobile vaccination units, successful in 2021, should reach rural areas. Hospital Preparedness: Only 50% of health centres have ventilators, and 30% lack oxygen, per a 2024 MoHFW report. The Centre's 2025 mock drills must ensure 75% of 1.5 lakh centers have isolation beds and antivirals, costing Rs 5,000 crore. Telemedicine, used by 15% of urban Indians, can expand to rural areas. Masking and Ventilation: XFG's spread in crowded spaces, like Mumbai's trains, requires masks and improved ventilation. A 2023 Singapore study cut transmission by 20% with air purifiers. India's public buildings need similar upgrades. Get breaking news, in-depth analysis, and expert perspectives on everything from politics to crime and society. Stay informed with the latest India news only on News18. Download the News18 App to stay updated! tags : covid symptoms Long COVID omicron view comments Location : New Delhi, India, India First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.