11844 stories by IPA Staff
Fuel Price Hike After Budget Session Of Parliament, Hints Pranab Mukherjee
NEW DELHI: Finance Minister Pranab Mukherjee on Monday hinted at a hike in diesel and cooking gas (LPG) prices after the budget session of Parliament, saying political consensus for this will be built after the session. “… After the Budget session of Parliament is over, I shall discuss with...
Govt Walks The Tightrope On Fuel Pricing
MUMBAI: That the Government is determined to “bite the bullet” on fuel subsidies will be music to the ears of oil companies, except that this is going to be easier said than done. The Congress’ allies will be in no mood to agree to a fuel-price hike, especially when...
ONGC To Invest Rs 2,600 Crore In Gas Fields Development
NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) will invest about Rs 2,600 crore in the third phase of development of C-series natural gas fields off the west coast. The company board, in its meeting on March 15, approved advancement of development of C-26 Cluster (consisting of C-23,...
Oil India Aims To Produce 3.95 Million T Oil In 2012/13
NEW DELHI: State-run Oil India aims to produce 3.95 million tonnes of crude oil in 2012/13, a senior company official said on Monday. B.N. Talukdar, director of exploration, also said the company would produce around 3.9 million tonnes in the current financial year that ends on March 31, compared...
GSPC Plans To Commission 5 Mtpa LNG Terminal In 2015-16
MUMBAI/NEWDELHI: Gujarat State Petroleum Corporation (GSPC) plans to commission liquefied natural gas terminal with a capacity of 5 million tonne per annum at Mundra by 2015-16, a top state government official said on Monday. “Some preliminary work for the project has started, site has been identified. It is planned...
ONGC Cut To Neutral On Cess Hike
The cess on crude oil has been raised from R2,575 per tonne ($6.9/bbl) to R4,635 per tonne ($12.4/bbl) in the Budget. It means a cut in ONGC’s FY13-14 EPS by 11%. We have also cut ONGC’s purchasing order (PO) by 17% to R298 a share from R358 a share...
Oil Marketing Firms To Get Rs 15,000 Crore More Subsidy
Oil marketing companies will get additional subsidy of Rs 15,000 crore for 2011-12 while the fertiliser sector will receive an additional subsidy of over Rs 7,200 crore. These amounts have been provided in the third set of supplementary demands for grants tabled in Parliament on Monday. The Government has...
RIL’s KG Gas Output At All-Time Low, Shares Fall
MUMBAI: Gas production from Reliance Industries’ Krishna-Godavari D6 exploration blocks off the Andhra Pradesh coast hit an all-time low of about 28 million standard cubic metres a day during the week ended March 4 as it shut six wells due to water and sand ingress. India’s most valuable company,...
OPEC Recycles Petrodollars Into Treasuries 50% Faster Than Foreign Buyers
Opec nations are plowing cash into US treasuries at a more than 50% faster rate than all other foreign investors, an unintended benefit of oil prices above $100 a barrel. Organisation of Petroleum Exporting Country members increased their net purchases of government debt by $43.3 billion, or 20%, in...
China May Raise Fuel Prices From Tuesday: C1 Energy
BEIJING: China may raise gasoline and diesel retail prices from Tuesday, consultancy C1 Energy said in a report on its website. The Pricing Department under the National Development and Reform Commission will hold a meeting on Monday afternoon, which by convention might herald a fuel price change, according to...
Oil Steady Above $125 On Iran Fears
SINGAPORE: Brent crude oil traded above $125 on Monday as tension over Iran’s nuclear programme supported prices, offsetting an increase in oil exports from Libya and a rise in production by Saudi Arabia. The threat of military action against Iran, the world’s fifth largest oil exporter, has unnerved energy...
Power Ministry To Seek 19% Duty On Imported Power Gear, Again
NEW DELHI: The Power Ministry is likely to move its proposal to levy 19% duty on imported electricity equipment for large projects to the Cabinet. Earlier, the ministry had withdrawn a proposal in this regard. “We may not make any changes in the proposal and send it to the...
18 Power Plants Face Serious Coal Shortage: Govt
As many as 18 power plants in the country are faced with critical level of coal shortage, Minister of State for Power K C Venugopal informed the Rajya Sabha today. Of the 89 thermal power projects being monitored, 34 had fuel (coal) stock less than seven days and 25...
Tata Power Is Largest Private Power Producer
MUMBAI: Tata Power on Monday synchronised the second unit of its Maithon power project in Jharkhand. With this 525 megawatt (Mw) unit, the company has a total power generation capacity of 5,297 Mw, making it the country’s largest private sector power generating firm. The Maithon project’s first unit was...
Tamil Nadu Cabinet Nod For Kudankulam N-Plant
State Cabinet Also Clears Rs 500-Crore Package For Development Around Site Housing 2,000-MW Unit CHENNAI: The Tamil Nadu cabinet on Monday gave the nod for the 2,000-Mw Kudankulam Nuclear Power Plant by giving site clearance, which will allow in continuation of construction at the site. The Cabinet headed by...
Hunt On For Funds, Fuel
MUMBAI: Nuclear Power Corporation (NPC) would soon approach Atomic Energy Regulatory Board to load fuel in the first unit, and start sourcing additional investment. The chairman and managing director, S K Jain, of the state-run entity said: “NPC will in the next two months approach Atomic Energy Regulatory Board...
Kudankulam's First Unit To Be Ready For Fuel Loading Soon: NPCIL
CHENNAI: The Kudankulam Nuclear Power Project’s (KNPP) first 1,000 MW unit will be ready for the atomic energy regulator’s clearance for fuel loading in two months’ time and the Nuclear Power Corporation of India Ltd (NPCIL) is gearing up for it, said a top official. NPCIL chairman and managing...
Coal India Sweetens Terms For Land Acquisition
KOLKATA: Under pressure to step up production, Coal India Ltd (CIL) has sweetened its offers for land acquisition. The new rehabilitation and resettlement (RnR) policy was recently approved by the CIL board. According Mr R. Mohan Das, Director (personnel and IR), in addition to price of land, the Indian...
