11844 stories by IPA Staff
Petroleum Sector: Rising Crude, Subdued Demand For Petro Products To Keep Companies In A Bind
The quarter to March 2012 was characterised by rising crude oil prices, which in the absence of retail price hikes increased the under-recoveries of state-owned oil companies. Private sector companies had their own set of woes in the form of margin pressure. Several companies increased refining capacity, while most...
Cairn Nod Can Give Govt $15 Billion More
NEW DELHI: After the Union Budget wiped out $1 billion from Cairn India’s market cap by raising the cess on oil production from R2,500 per tonne to R4,500, the government continues to sit on the company’s applications for both increasing production from its existing MBA (Mangala, Bhagyam and Aishwarya)...
GNF In Talks To Buy BG Stake In Gujarat Gas
MUMBAI: Spanish utility Gas Natural Fenosa is in talks with BG Group Plc to buy the UK oil and gas company’s 65 percent stake in India’s Gujarat Gas, a source with direct knowledge of the matter said on Sunday, in a deal valued at about $900 million. A three-member...
Power Purchase Agreements Term Of Gas-Based Projects May Be Slashed
NEW DELHI: The government is considering reducing the tenure of power purchase agreements (PPAs) for future gas-based projects by 10 years and reviewing the deals every five years on basis of fuel availability, officials said. The move, if implemented, will benefit 9,000-mw plants of companies like Reliance Power, Lanco...
Stranded Power Capacity Awaits Fuel Supply
MUMBAI: India has added record power capacity of around 57,700 Mw in the 11th five-year Plan period, but a large part of it is still awaiting fuel. About 35,000 Mw of coal-based power capacity has reached commercial operations in the period between April 2009 and March 2012, but around...
NTPC To Supply Entire Power Of New Simhadri Project To AP
CHENNAI/HYDERABAD: NTPC has agreed to supply the entire power of the soon-to-be-commissioned 500-Mw fourth unit of Simhadri project at Visakhapatnam to Andhra Pradesh in the next 3-4 month owing to the local supply-demand scenario, chief minister N Kiran Kumar Reddy said here on Monday. “I had spoken to the...
Gridco's Power Purchase Bill To Surge 25% This Fiscal
KOLKATA/BHUBANESWAR: The power purchase bill of Grid Corporation of Orissa Ltd (Gridco), the state owned bulk power purchaser, is set to shoot up by 25 per cent in 2012-13, compared to the previous fiscal. With the state’s overall power demand projected at 24,888 million units for the current fiscal,...
BGR Energy Bags NTPC Order Worth Rs 1,855 Crore
CHENNAI: Power equipment maker BGR Energy today said it has received a ‘Letter of Award’ from National Thermal Power Corporation for supply of two super critical boilers valued at Rs 1,855 crore. “BGR Energy has received ‘Letter of Award’ from NTPC for supply of 2×660 MW super-critical boilers to...
L&T Commissions 40 MW Solar Plant Of Reliance Power In Rajasthan
MUMBAI: Leading engineering major Larsen & Toubro today said that it has commissioned the country’s largest solar photovoltaic power plant of Reliance Power in Rajasthan with a capacity to generate 40 MW of power. The group’s construction arm L&T Construction executed the project owned by Reliance Power at Dhursar...
Lanka Concerned Over India’s N-Radiation
COLOMBO: Sri Lanka on Monday expressed concern over possible impact of radiation from India’s nuclear power plants located in the southern region, as it prepares to raise the issue with global atomic watchdog IAEA. The official raising of concern with the International Atomic Energy is to be made in...
Biomass-Based Power Producers Seek Tariff Revision
MUMBAI: Biomass-based power producers, with an installed capacity of 2,664 Mw, have made a strong pitch for according priority sector status on the lines of agro sector. These producers have also appealed to the Centre to launch biomass mission on the lines of solar mission to attract more investments....
Wind Power To Help Meet Green Target
NEW DELHI: India is banking on its wind power potential to meet the renewable energy target set under the National Action Plan on Climate Change (NAPCC) for the 12th Five-Year Plan (April 2012- March 2017). NAPCC aims to increase the share of renewable energy in the overall grid power...
CIL Board Gives In, To Sign Supply Pacts With 50 Power Companies
NEW DELHI/KOLKATA: Forced by a presidential directive, government-owned Coal India is likely to sign fuel supply agreements (FSAs) with at least 50 power companies after a board meeting next week. The board, on the urging of six independent members, had earlier turned down a government directive to commit at...
Coal India to invest $14.6 bn to raise output in five years
KOLKATA: Coal India, facing pressure from the prime minister’s office to improve production, plans to invest 75,000 crore ($14.6 billion) in the next five years to develop mines and infrastructure, buy foreign assets and be able to pay a dividend of 6,500 crore every year, top company executives said....
Trigger level of 80% for new projects a matter of concern:CMD-designate, Coal India
Singareni Collieries CMD S Narsing Rao is the first IAS officer who will be taking over as the chairman and managing director of Coal India (CIL). The Public Sector Enterprises Board has named Rao as the next CIL CMD in place of Zohra Chatterji, ministry of coal additional secretary,...
Big business houses eye stake in Living Media
New Delhi/Mumbai: Big business is eyeing the media space once again. Just four months after Reliance Industries invested in the Network 18 group in a multi-layered deal, leading business houses, including the Aditya Birla Group, are looking at acquiring 26 per cent stake in the Aroon Purie-controlled Living Media India....
Indian shares flat; gas utilities hit by tariff cuts
Mumbai: (Reuters) – Indian shares were flat to higher as banks recovered after recent steep falls, though oil and gas stocks dropped after a directive from a government regulator to cut gas tariffs in New Delhi raised fears that similar actions would follow. A banking sub-sector lost 2.9 percent over...
FIIs Meet Finmin Officials On GAAR
New Delhi: Amid concerns of foreign investors over the tax treatment of investments, FIIs met senior finance ministry officials for the second time within seven days, to discuss the provisions of anti-tax avoidance rules, or GAAR. “The meeting ended on a positive note. We are examining the FIIs’ concerns....
