11843 stories by IPA Staff
BPCL Arm Bharat Oman Refineries To Raise Rs 737 Crore ECB For Bina Refinery
MUMBAI: Bharat Oman Refineries, a company promoted by state-run Bharat Petroleum Corporation with equity participation from Oman Oil Company, is raising $140 million (Rs 737 crore) of external commercial borrowing for its refinery project at Bina in Madhya Pradesh. BORL will raise the US-dollar term loan at an annual...
Oil Marketing Firms Losing Rs.518 Crore Per Day
NEW DELHI: Oil marketing companies are losing Rs.518 crore per day on sale of diesel, kerosene and domestic liquefied petroleum gas (LPG), government data showed Tuesday. Oil retailers are expected to lose Rs.13.91 on sale of each litre of diesel in the first fortnight of May, while under recoveries...
Insurers To Give $50-M Cover For Iran Oil Buy
NEW DELHI: Indian government-run insurance companies have agreed to give limited cover to local ships for carrying Iranian oil, helping the energy-hungry country import reduced volumes from sanctions-hit Tehran from July, a Shipping Corp of India director said on Tuesday. “We have in writing from General Insurance Corp that...
HPL Contests Purnendu Plaint
KOLKATA: Haldia Petrochemicals (HPL) has challenged in Calcutta High Court the arbitration process initiated abroad by its private promoter The Chatterjee Group. The company has filed a suit today seeking injunction on the arbitration case Purnendu Chatterjee is now pursuing at The International Court of Arbitration under the International...
Gulf Oil To Set Up Lubes Plant In South
CHENNAI: London-based oil marketing company Gulf Oil International Limited, part of the Hinduja Group, is planning to set up a lubricant plant in south India. The company has set its sights on Tamil Nadu and Andhra Pradesh for the proposed plant, which will attract an investment of around Rs...
Delta Buys Refinery In Bid To Cut Fuel Bill
ATLANTA/HOUSTON: Delta Air Lines Inc is bringing some jet-fuel production in house, breaking with US carriers’ reliance on outside providers, by acquiring a refinery that Phillips 66 had targeted for shutdown. The world’s second-biggest airline will pay $180 million for the complex in suburban Philadelphia, according to a statement...
Australia Gearing Up For Major Investments In LNG Projects
PERTH: Australia has embarked on a major expansion and investment programme for putting in place massive liquefied natural gas (LNG) infrastructure with around $170 billion worth of current and new projects taking shape. Already the fourth largest exporter of LNG in the world, Australia is the third largest LNG...
Maintain GCV Coal Usage At 30%: CEA To Power Utilities
MUMBAI: Considering the growing need for imports due to constraints in the availability of domestic coal, the Central Electricity Authority (CEA), in an advisory, has told all power-generating companies, power project developers and power equipment manufacturers that boilers, including auxiliaries, should be designed for a 30:70 blend ratio, in...
Notices To 10 Firms For Delay In Coal Block Development
NEW DELHI: Government issued show-cause notices to 10 firms, including Reliance Power’s Sasan, Tata Power, Hindalco and Grasim Industries asking reasons for delay in developing coal blocks and warned that the same may be cancelled if explanation is not given in 20 days. “You are called upon to show...
NTPC-Simhadri To Supply 452 MW To Ap In Phase II
VISAKHAPATNAM: The NTPC-Simhadri power project is making all efforts to start commercial production from the unit and AP will get 452 MW from the 1,000-MW (two units of 500 MW each) generated in the second phase, according to Mr D.K Sood, General Manager in-charge of the plant. While talking...
ReGen Powertech Raises Rs 52 Crore From PEs For Expansion
BANGALORE: ReGen Powertech, the Chennai-based wind turbine maker has raised Rs 52 crore from two large private equity firms, as it looks to upgrade the capacity at its manufacturing plant inUdaipur. TVS Capital, jointly promoted by the TVS and Shriram Groups, and Summit FVCI, a fund advised and managed...
Madhucon Projects Signs PPA For 300 MW Indonesian Power Project
HYDERABAD: Indian infrastructure firm Madhucon Projects, which is setting up its first overseas power project in Indonesia, has on Tuesday announced signing a power purchase agreement (PPA) with the Indonesian government power utility PTPLN (PERSERO). Madhucon, which is currently setting up 1,920MW of power projects near Krishnapatnam in Andhra...
NPCIL Told To Publicize Safety Analysis Reports
NEW DELHI: The Central Information Commission (CIC) has directed India’s nuclear power plant operator to publicize safety analysis reports of the Kudankulam atomic power plant within a month. In a contentious two-year dispute between environmentalists and the nuclear power establishment, the apex information commission, in an order on its...
Renewable Sources: Integral To Energy Security Matrix
With climate change emerging as a critical factor in contemporary policy making, priorities in energy security infrastructure planning and development have also changed accordingly. Despite being a relatively new area, renewable energy is becoming increasingly important inIndia’s energy security matrix. Luckily for the country, it is rich in renewable...
Mines Ministry Can Allocate Leases On First Come, First Served Basis, Says AG
NEW DELHI: The government can go ahead and allocate mining leases on a first come, first served (FCFS) basis, attorney general GE Vahanvati has told the government. The AG’s advice, sought by the mines ministry where around 400 requests for mining leases are pending, comes at a time when...
Coal, Fertiliser Sectors Prefer Railways Despite Higher Freight Rates
NEW DELHI: Railways is still the preferred mode of transportation for commodities such as coal, raw material for steel plants, fertiliser and foodgrains. This is despite the steep freight rate hikes effected earlier this year. But a drop in throughput of cement might be a cause for concern. This...
NMDC Raises Iron Ore Price 10% As Demand Surges
NEW DELHI: NMDC has hiked iron ore prices by around 10 per cent on rising demand for the raw material used in making steel. The state-run miner’s latest move may prompt key customers such as Essar Steel India Ltd, JSW Steel Ltd and Rashtriya Ispat Nigam Ltd (RINL) to...
IAF Aircrafts Upgraded To Enhance Combat Potential
The Indian Air Force (IAF) has undertaken upgradation of its fighter aircraft to enhance their combat potential and to ensure their operational relevance, said Defence Minister A.K. Antony in the Lok Sabha on Monday. In a release by the ministry, Antony said that contract to upgrade MiG-29 was signed...
